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Wednesday, May 15, 2024

Soros Fund Management Dissolves Stake in NYCB, Buys Goldman Sachs Shares

 Soros Fund Management has dissolved its share stake in embattled lender New York Community Bancorp in the first quarter of 2024, a regulatory filing showed on Wednesday.

The family office of billionaire George Soros previously held about 1.5 million shares in the regional lender as of the quarter ended Dec. 31.

Separately, Soros Fund Management bought 33,550 shares in Goldman Sachs as of March 31.

Hedge fund Third Point also bought 250,000 shares in Goldman Sachs as of March 31.

The disclosures were made through the so-called 13-F regulatory filings, which show investment firms' portfolios, and are closely watched for trends even though the data is released with a delay and can be dated.

FDA approves Bristol Breyanzi CAR-T for follicular lymphoma

 The FDA granted accelerated approval to lisocabtagene maraleucel for treatment of adults with relapsed or refractory follicular lymphoma who received at least two prior lines of systemic therapy.

Lisocabtagene maraleucel (Breyanzi, Bristol Myers Squibb) — often called liso-cel — is a CD19-directed chimeric antigen receptor T-cell therapy.

The agent already had been approved in the United States for treatment of adults with relapsed or refractory large B-cell lymphoma who received at least one prior therapy, as well as treatment of adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma who received at least two prior lines of therapy, including a Bruton tyrosine kinase inhibitor and a B-cell lymphoma 2 inhibitor.

The FDA based the new indication on results of the single-arm phase 2 TRANSCEND-FL trial, which included adults with relapsed or refractory follicular lymphoma. All study participants had received at least two lines of systemic therapy, including an anti-CD20 antibody and an alkylating agent.

Eligible participants had adequate bone marrow function to receive lymphodepleting chemotherapy, and they had ECOG performance status of 0 or 1.

The efficacy population included 94 patients with PET-positive disease at baseline or after bridging therapy.

Patients received a single dose of lisocabtagene maraleucel 2 to 7 days after completion of lymphodepleting chemotherapy, and all had at least 9 months of follow-up from first response.

Overall response rate and duration of response served as the primary efficacy outcomes.

Researchers reported an ORR of 95.7% (95% CI, 89.5-98.8). Median follow-up had not been reached (95% CI, 18.04 to not reached) after median follow-up of 16.8 months.

Nonlaboratory adverse reactions that occurred among at least 20% of study participants included cytokine release syndrome, headache, musculoskeletal pain, fatigue, constipation and fever.

The FDA approved lisocabtagene maraleucel with a Risk Evaluation and Mitigation Strategy due to risk for fatal or life-threatening CRS and neurologic toxicities.

https://www.healio.com/news/hematology-oncology/20240515/fda-approves-breyanzi-cart-for-follicular-lymphoma

Unplanned Pregnancy With Weight Loss Drugs

 Claudia* was a charming 27-year-old newlywed. She and her husband wanted to start a family — with one small catch. She had recently gained 30 pounds. During COVID, she and her husband spent 18 months camped out in her parents' guestroom in upstate New York and had eaten their emotions with abandon. They ate when they were happy and ate more when they were sad. They ate when they felt isolated and again when they felt anxious. It didn't help that her mother was a Culinary Institute–trained amateur chef. They both worked from home and logged long hours on Zoom calls. Because there was no home gym, they replaced their usual fitness club workouts in the city with leisurely strolls around the local lake. When I met her, Claudia categorically refused to entertain the notion of pregnancy until she reached her pre-COVID weight.

At the time, this all seemed quite reasonable to me. We outlined a plan including semaglutide (Wegovy) until she reached her target weight and then a minimum of 2 months off Wegovy prior to conception. We also lined up sessions with a dietitian and trainer and renewed her birth control pill. There was one detail I failed to mention to her: Birth control pills are less effective while on incretin hormones like semaglutide. The reason for my omission is that the medical community at large wasn't yet aware of this issue. 

About 12 weeks into treatment, Claudia had lost 20 of the 30 pounds. She had cancelled several appointments with the trainer and dietitian due to work conflicts. She messaged me over the weekend in a panic. Her period was late, and her pregnancy test was positive.

She had three pressing questions for me:

Q: How had this happened while she had taken the birth control pills faithfully?

A: I answered that the scientific reasons for the decrease in efficacy of birth control pills while on semaglutide medications are threefold: 

  • Weight loss can improve menstrual cycle irregularities and improve fertility. In fact, I have been using semaglutide-like medications to treat polycystic ovary syndrome for decades, well before these medications became mainstream.
  • The delayed gastric emptying inherent to incretins leads to decreased absorption of birth control pills.
  • Finally, while this did not apply to Claudia, no medicine is particularly efficacious if vomited up shortly after taking. Wegovy is known to cause nausea and vomiting in a sizable percentage of patients.

Q: Would she have a healthy pregnancy given the lingering effects of Wegovy?

A: The short answer is: most likely yes. A review of the package insert revealed something fascinating. It was not strictly contraindicated. It advised doctors to weigh the risks and benefits of the medication during pregnancy. Animal studies have shown that semaglutide increases the risk for fetal death, birth defects, and growth issues, but this is probably due to restrictive eating patterns rather than a direct effect of the medication. A recent study of health records of more than 50,000 women with diabetes who had been inadvertently taking these medications in early pregnancy showed no increase in birth defects when compared with women who took insulin.

Q: What would happen to her weight loss efforts?

A: To address her third concern, I tried to offset the risk for rebound weight gain by stopping Wegovy and giving her metformin in the second and third trimesters. Considered a safe medication in pregnancy, metformin is thought to support weight loss, but it proved to be ineffective against the rebound weight gain from stopping Wegovy. Claudia had not resumed regular exercise and quickly fell into the age-old eating-for-two trap. She gained nearly 50 pounds over the course of her pregnancy. 

After a short and unfulfilling attempt at nursing, Claudia restarted Wegovy, this time in conjunction with a Mediterranean meal plan and regular sessions at a fitness club. After losing the pregnancy weight, she has been able to successfully maintain her ideal body weight for the past year, and her baby is perfectly healthy and beautiful. 

*Patient's name changed 

https://www.medscape.com/viewarticle/unplanned-pregnancy-weight-loss-drugs-fact-or-fiction-2024a100090m

'Tackling Lean Mass Loss When Weight Loss is Successful'

 In addition to the established gastrointestinal side effects common with the highly effective anti-obesity drugs, there is growing discussion around their potential to contribute to the loss of lean mass, necessary to keep the metabolic engine running full-steam.

And although measures should be recommended to prevent those effects, experts also want to remind clinicians that the loss of lean mass is indeed expected with most weight loss interventions — when they're successful.

"The bottom line is if you're successful with weight loss, it's a normal process that you're going to lose some lean mass," said Angela Fitch, MD, associate director of the Massachusetts General Hospital Weight Center in Boston, during a presentation on the issue at Obesity Medicine 2024.

"It's what we would expect to see if you successfully lost weight with bariatric surgery or with an intense lifestyle intervention," said Fitch, who is the past president of the Obesity Medicine Association.

"The difference is, there haven't been nearly as many people being successful with weight loss with those other interventions," she noted. "But with the popularity of the glucagon-like peptide 1 (GLP-1) medications, people are hearing this for the first time and saying, 'Oh my gosh, 30% of the weight loss is muscle mass — that's horrible.' "

An underlying goal in the treatment of obesity is the reduction of fat mass, and significant fat mass reduction can provide benefits exceeding the drawbacks resulting from lean mass loss, which have been reported in clinical trials of the GLP-1s semaglutide and the dual glucose-dependent insulinotropic polypeptide tirzepatide to range from about 25% to 40%, respectively, of weight loss.

"Excess adiposity is what makes us sick — not our weight," Fitch underscored. "The amount of fat that people are losing [with anti-obesity medications] is far more beneficial than maybe the potential that they've lost a little bit of lean mass," she said.

She cited research suggesting that significant weight loss from bariatric surgery is linked to increases in life expectancy, cardiovascular risk reduction, cancer risk reduction, and a wide array of other positive effects — despite the loss of lean mass that occurs with the weight loss.

Opportunity for Awareness

The increased attention on issues of body composition accompanying weight loss importantly provides clinicians the chance to underscore to patients the importance of offsetting the loss of lean mass through strength training, nutritional choices, and other measures.

However, patients should be prepared that achieving these goals can be more challenging than expected, said Fitch.

"It can be very hard to be in an energy deficit (due to a weight loss regimen) and gain muscle mass," she said. "When athletes are trying to gain muscle mass, they're increasing their intake to do so. It doesn't come naturally in today's world."

Nevertheless, patients can be reassured that the losses can be reversed with some effort, Fitch noted.

She cautioned that for those who succeed in building or rebuilding lean mass, the evidence may be reflected on the scale, with numbers going up, not down — something they may not wish to see.

"Patients tend to freak out when they see the scale going up after losing all of that weight, but you can reassure them that it's okay — this is healthier weight gain."

Special Considerations in Older Patients

Efforts at staving off lean mass loss are particularly important in older patients, who are already most vulnerable to experiencing it naturally with age, even if not on a weight loss regimen.

But Fitch offered that age does not necessarily have to be a barrier in tackling those effects.

She described two cases of treating patients in their mid-70s, a male and female, with GLP-1s for obesity. Not only were they able to achieve substantial reductions in body mass index over nearly a year on treatment, but they were also able to avoid skeletal muscle mass loss during a period when it would have likely naturally occurred.

She noted the need to augment strength training with protein intake to help build muscle, citing recommendations including consuming 1.4-2.0 g of protein per kg of body weight for building muscle and maintaining muscle mass.

Importantly, "make sure patients aren't too appetite suppressed so they can keep up with their nutrition," Fitch said.

A key condition to watch for in these patients is sarcopenia. Definitions of sarcopenia vary, but it is distinguished by low skeletal muscle mass and either low muscle strength — measured, for instance, with hand grip — or low muscle performance, such as reduced walking speed or muscle power, Fitch said.

In such cases, patients may need special considerations, including avoiding significant caloric deficits and whether the risks of medication outweigh the benefits.

'Super-Responders', Other Lean Mass Loss 

Further addressing the issues of body composition and weight loss at the meeting, Robert F. Kushner, MD, a professor of medicine and medicine education at Northwestern University in Chicago, noted that one area of concern regarding lean mass loss is "super-responders" — patients who have exceptionally high weight loss on GLP-1s.

Speaking with Medscape Medical News, Kushner elaborated that, "we are concerned about individuals who experience very high weight loss responses to medication, [specifically] 25% or more weight loss, as well as individuals at higher risk of losing lean body mass [muscle mass], specifically people in their 50s, 60s, and 70s."

"Lifestyle counseling, particularly regarding safety and body composition, is recommended in these patients," he said, adding that in managing these patients, "the approach is to use close patient monitoring, dose reduction if needed, and emphasizing a high-protein diet accompanied by aerobic and resistance physical activity."

Potentially dramatic lean mass loss can occur in obesity whether or not patients are on obesity medications. As evidence of this, Kushner cited a sub-analysis of the Look AHEAD trial of 1019 overweight or obese patients who had a mean age of 58 years at baseline. Patients were randomized to either a physical activity and reduced calorie intervention group or simply education.

Although the results showed that fat losses in the intervention group were generally regained over 8 years, a striking, steady decline was observed in lean mass in both the intervention and control groups, including men and women.

Fitch's disclosures include consulting and/or advisory relationships with Eli Lilly, Novo Nordisk, Currax, Vivus, SideKick Health, Jenny Craig, Carmot, and Seca. Kushner is on the advisory boards of Novo Nordisk, Weight Watchers, Lilly, Boehringer Ingelheim, and Altimmune.

https://www.medscape.com/viewarticle/tackling-lean-mass-loss-when-weight-loss-successful-2024a100099q

Meat Producer JBS in Talks With Potential Partner on Biogas

 

JBS SA, the world’s largest meat producer, said it is in “final discussions” with a potential strategic partner to help the Brazilian company manage, expand and monetize production of gas from animal waste in the US.

“We’re interested in bringing in expertise to help transform and manage our generation of biogas and expand our capacity to really create this as a strategic asset,” Jason Weller, global chief sustainability officer at JBS, said during a presentation at the BMO Global Farm to Market conference in New York.

https://www.bloomberg.com/news/articles/2024-05-15/meat-producer-jbs-in-talks-with-potential-partner-on-biogas

US 'Bunker-Buster' Bomb Production To Triple As World Fractures Into Dangerous Multi-Polar State

 Munitions stockpiles are running low across the West, whether in Europe or the United States. Supplying Ukraine with arms in its war against Russia has forced Western militaries and defense firms to either make plans or begin boosting the production of bombs, missiles, artillery shells, and suicide drones. 

 On Tuesday, the US Air Force announced a tripling in its monthly production of the giant 30,000-pound Massive Ordnance Penetrator, known as the "bunker-buster." It's the largest non-nuclear bomb the US has in its stockpiles and can only be deployed by a Northrop Grumman B-2 Spirit stealth bomber. 

Bloomberg was among the first to report an increase in bunker-buster bomb production, citing a USAF statement: "Will significantly increase production as needed."  

Officials at the facility told Bloomberg journos during a March tour by General Charles Brown, chairman of the Joint Chiefs of Staff, that new bunker-buster bomb production could rise from currently two, to as many as six or possibly eight bombs per month. 

The Oklahoma plant is being upgraded to support higher production of 2,000- to 30,000-pound bombs. A ribbon-cutting ceremony is scheduled for July 30, and production ramps are expected soon after. 

Ukraine isn't the only conflict area draining Western supplies of munitions. The US has been supplying Israel with bombs and missiles as the conflict with Hamas rages on. And there's a further risk of broadening conflict in the region with Iran. Let's not forget China and the South China Sea. 

Maiya Clark of the Heritage Foundation recently explained the US military-industrial complex can't just turn on a switch and produce more bombs:

"Once the stockpiles are expended, the Department of Defense cannot simply buy more munitions — manufacturing takes years."

Clark continued: 

"Ramping up production after operating at a smaller capacity takes time; contractors have found that it will take them around two years to deliver new Javelins to the Department of Defense (DOD), for example." 

She warned:

"This creates a problem in the present—after all, the war in Ukraine could continue for some time—and it illuminates what could potentially be a much larger problem in the future. The lack of surge capacity creates the risk that, in a protracted war, the US would deplete its stockpiled munitions before replacements could be manufactured and delivered." 

This all plays into an important theme of soaring global military spending as the world fractures into a chaotic, multi-polar state. There's a bull market in defense. 

https://www.zerohedge.com/military/americas-bunker-buster-bomb-production-triple-world-fractures-dangerous-multi-polar-state

U.S. News Introduces List of Best Outpatient Surgery Centers

In the inaugural "Best Ambulatory Surgery Centers" ratings from U.S. News & World Report, fewer than 15% of nearly 5,000 evaluated facilities were rated as "high performing."

Ten states had 20 or more high-performing ambulatory surgery centersopens in a new tab or window, and among these, California had the most (96), followed by Florida (60) and Texas (50).

Additionally, in each of four specialties -- colonoscopy and endoscopy, ophthalmology, orthopedics and spine, and urology -- California was among the states to have the greatest number of top-rated facilities.

"Same-day procedures play an increasingly prominent role in healthcare as an alternative to overnight hospital care," Ben Harder, chief of health analysis and managing editor at U.S. News, said in a statement. "Building on our 34 years of experience evaluating Best Hospitals, we're proud to give patients this new, free, data-driven tool to help them navigate their healthcare needs."

The new "Best Ambulatory Surgery Centers" ratings come as U.S. News has continued to rank hospitalsopens in a new tab or window and medical schoolsopens in a new tab or window amid pushback and withdrawals from participating institutions on the lists. Just last month, the publication announced that this year's "Best Medical Schools" rankings were once again delayedopens in a new tab or window due to inquiries from some graduate schools.

The list was a collaboration between U.S. News and healthcare analytics firm CareJourney.

Surgery centers were evaluated "entirely on objective, risk-adjusted measures of their patients' outcomes, including how successfully they avoided complications, ER [emergency room] visits, unplanned hospitalizations, and other undesirable outcomes," U.S. News said in announcing the ratings. And to "ensure fair comparisons ... the analysis accounted for patient factors, including pre-existing conditions."

Data sources included Medicare fee-for-service claims for services rendered during calendar years 2020 through 2022, the outlet noted in its methodology, as well as other CMS data sets: the National Plan and Provider Enumeration System and ASC Quality Reporting program.

Below are the states with the most top-rated surgery centers overall, and within each specialty. The full ratings are available hereopens in a new tab or window.

States With the Greatest Number of 'Best Ambulatory Surgery Centers'

Arizona

  • No. of high-performing ambulatory surgery center ratings: 27
  • No. of rated ambulatory surgery centers: 167

California

  • No. of high-performing ambulatory surgery center ratings: 96
  • No. of rated ambulatory surgery centers: 559

Florida

  • No. of high-performing ambulatory surgery center ratings: 60
  • No. of rated ambulatory surgery centers: 415

Georgia

  • No. of high-performing ambulatory surgery center ratings: 46
  • No. of rated ambulatory surgery centers: 278

Maryland

  • No. of high-performing ambulatory surgery center ratings: 36
  • No. of rated ambulatory surgery centers: 230

New York

  • No. of high-performing ambulatory surgery center ratings: 23
  • No. of rated ambulatory surgery centers: 142

Ohio

  • No. of high-performing ambulatory surgery center ratings: 20
  • No. of rated ambulatory surgery centers: 168

Pennsylvania

  • No. of high-performing ambulatory surgery center ratings: 37
  • No. of rated ambulatory surgery centers: 226

Texas

  • No. of high-performing ambulatory surgery center ratings: 50
  • No. of rated ambulatory surgery centers: 363

Washington

  • No. of high-performing ambulatory surgery center ratings: 20
  • No. of rated ambulatory surgery centers: 133

States With the Greatest Number of 'Best Ambulatory Surgery Centers' in Each Specialty

Colonoscopy and Endoscopy

  • California (34)
  • Florida (17)
  • Pennsylvania (20)

Ophthalmology

  • California (25)
  • Florida (17)
  • Texas (16)

Orthopedics and Spine

  • California (32)
  • Florida (22)
  • Georgia (21)

Urology

  • California (5)
  • Georgia (6)
  • Maryland (8)
  • New Jersey (5)