'El Chapo's sons bar fentanyl production in Sinaloa, according to banners'

 A powerful faction of the Sinaloa cartel led by the sons of ex-Mexican drug lord Joaquin "El Chapo" Guzman has banned fentanyl production and sales in Sinaloa, according to roadside banners, though analysts doubted the group would leave such a profitable business.

The banners that appeared in the northern Sinaloa state on Monday, known as "narcomantas", were signed by Los Chapitos, a grouping of brothers who took over their father's criminal empire when Guzman was extradited to the United States in 2017.

It is unclear who put up the banners, festooned to bridges and overpasses. They appeared at a time when U.S. authorities are ramping up pressure on Mexico to take action against crime groups involved in fentanyl production.

The U.S. government this year portrayed Los Chapitos, or "little Chapos", as the principal providers of fentanyl into the United States. Last month, Ovidio Guzman, the youngest of the four Los Chapitos brothers, was extradited to the United States.

"The sale, manufacture, transportation or any type of business involving the substance known as fentanyl is strictly prohibited in Sinaloa," the banners said.

Leo Silva, a former U.S. Drug Enforcement Administration (DEA) agent who worked in Mexico, said the banners were likely an attempt by Los Chapitos to shift the blame for fentanyl production on to others.

"Coupled with extradition of one of the brothers, it's a ploy to take the heat off of them," Silva said. "I don't see them stopping production."

In July, Sinaloan investigative outlet Riodoce reported that Los Chapitos had told producers in Culiacan, the state capital, to stop manufacturing fentanyl. Soon afterwards, bodies were discovered of men who had been tortured and had fentanyl pills dumped on them, in an apparent signal to others.

It was also not clear if Los Chapitos could enact such a ban across Sinaloa, as much of the territory is controlled by El Chapo's old partner, Ismael "El Mayo" Zambada, who runs another powerful grouping of the cartel.

Silva doubted Los Chapitos would stay away from fentanyl.

"It's too much money to turn down or turn their back on," he said.

https://sports.yahoo.com/el-chapos-sons-ban-fentanyl-011815215.html

Rout in government bonds worrying

 The world's biggest bond markets are in the throes of another rout as a new era of higher for longer interest rates takes hold.

In the U.S. Treasury market, the bedrock of the global financial system, 10-year bond yields have shot up to 16-year highs. In Germany, they touched their highest since the 2011 euro zone debt crisis. Even in Japan, where official rates are still below 0%, bond yields are back at levels seen in 2013.

Because government borrowing costs influence everything from mortgage rates for homeowners to loan rates for corporates, there's plenty of reason for angst.

Here's a look at why the bond rout matters.

1. Why are global bond yields rising?

Markets are increasingly reckoning with interest rates staying high.

With inflation excluding food and energy prices elevated and the U.S. economy resilient, central banks are pushing back against rate cut bets.

Traders now see the Fed cutting rates to only 4.7% from 5.25%-5.50% currently, up from the 4.3% they anticipated in late August.

That's compounding worries about the fiscal outlook following August's Fitch U.S. rating downgrade citing high deficit levels. Highly-indebted Italy raised its deficit target last week.

Higher deficits mean more bond sales just as central banks offload their vast holdings, so longer-dated yields are rising as investors demand more compensation.

Many investors were also betting bond yields would drop, so are extra sensitive to moves in the opposite direction, analysts say.

2. How far could the selloff go?

U.S. data remains resilient with Monday's upbeat manufacturing survey pushing Treasury yields up again.

That is no surprise, and analysts do not rule out a rise in 10-year Treasury yields to 5%, from 4.7% now.

When a bond yield rises, its price falls.

But Europe's economy has deteriorated, so selling should be more limited there, as bonds typically do better when an economy weakens, and most big central banks have signalled they are done with rate increases.

https://finance.yahoo.com/news/why-rout-government-bonds-worrying-132522188.html

Sanofi, Johnson & Johnson Join Forces To Develop E.coli Vaccine

 Sanofi SA SNY struck a deal with Janssen Pharmaceuticals, a unit of Johnson & Johnson JNJ, to develop and commercialize the vaccine candidate for extraintestinal pathogenic E. coli (9-valent).

The vaccine is currently in Phase 3 E.mbrace trial designed to evaluate the efficacy of the 9-valent extraintestinal pathogenic E. coli vaccine (ExPEC9V) compared to placebo in the prevention of invasive E. coli disease caused by ExPEC9V O-serotypes. 

The study was started in 2021 by Janssen and continues to enroll patients.

Sanofi will pay J&J’s Janssen unit $175 million upfront and development and commercial milestones. Both will co-fund research and development costs. The vaccine is in late-stage clinical trials.

A profit-share arrangement will exist in the U.S., EU4 (France, Germany, Italy, Spain), and the U.K.. In the rest of the world (ROW), Janssen will receive tiered royalties and sales milestones.

Extraintestinal pathogenic E. coli is a leading cause of sepsis, particularly in older adults. Sepsis is a life-threatening bloodstream infection accompanied by severe illness and widespread organ damage.

https://www.benzinga.com/general/biotech/23/10/35054080/pharma-giants-sanofi-johnson-johnson-join-forces-to-develop-e-coli-vaccine

RedHill Biopharma Is Trading Higher Today - Here's Why

 RedHill Biopharma Ltd RDHL shares are trading higher after the company said that its oral opaganib shows a significant increase in survival time (at 150 mg/kg twice daily dose) in a U.S. Army-funded in vivo Ebola virus study, making it the first host-directed molecule to show activity in the Ebola virus disease.

"These results represent an alternative strategy of using a host-directed therapeutic with activity in Ebola virus disease in-vivo," said Rekha Panchal, who led the study.

The U.S. Army study tested three doses of opaganib (50, 100, and 150 mg/kg twice daily) against an inactive vehicle control arm.

The in vivo study results showed a statistically significant survival increase in mean (SE) survival time of 11.2 (2.6) days in the 150 mg/kg opaganib group (p=0.0279) compared to a mean (SE) survival time of 5.5 (0.4) days in the inactive vehicle control group. 

A 30% mice survival was observed in the 150 mg/kg treated group compared to the vehicle control.

Twice daily administered opaganib has previously demonstrated antiviral benefit in late-stage clinical studies of patients hospitalized with moderate to severe COVID-19 and was selected by the NIH Radiation and Nuclear Countermeasures Program for Acute Radiation Syndrome development.

https://www.benzinga.com/general/biotech/23/10/35061522/israel-based-penny-stock-redhill-biopharma-is-trading-higher-today-heres-why

Vir: BARDA to fund Antibody Platform Technologies for Global Infectious Disease

 New investment of approximately $50 million from Biomedical Advanced Research and Development Authority includes $40 million in Project NextGen funds –

– Contract expands existing support for the development of candidates for prevention and treatment of pathogens of pandemic potential –

https://www.globenewswire.com/news-release/2023/10/03/2753536/0/en/Vir-Biotechnology-Awarded-BARDA-Funding-to-Support-Development-of-Antibody-Platform-Technologies-for-Global-Infectious-Disease-Threats.html

Nanox Announces Strategic Manufacturing Agreement with Varex

  NANO-X IMAGING LTD (“Nanox” or the “Company,” Nasdaq: NNOX), an innovative medical imaging technology company today announced the entrance into a manufacture and supply agreement with Varex Imaging Corporation (“Varex,” Nasdaq: VREX), a leading innovator, designer and manufacturer of X-ray imaging components, under which Varex will supply X-ray tubes utilizing the Nanox digital X-ray source for the Nanox.ARC system. The agreement was entered into after Varex completed, over the last several months, an assessment of Nanox’s novel digital X-ray source.

https://www.globenewswire.com/news-release/2023/10/03/2753629/0/en/Nanox-Announces-Strategic-Manufacturing-Agreement-with-Varex-Imaging-Corporation-to-Advance-the-Nanox-ARC-Medical-Imaging-System.html

Fusion started at Outperform by Oppenheimer

 Target $13

https://finviz.com/quote.ashx?t=FUSN&p=d