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Monday, February 3, 2025

Becton Dickinson stock rises on activist stake report

  Shares of Becton Dickinson and Co (NYSE:BDX) climbed 3.3% following news that activist investor Starboard Value has acquired a stake in the medical technology company.

The Financial Times reported that Starboard is pushing for the sale of Becton Dickinson's life sciences division, a move that appears to have resonated positively with investors during premarket trading.

The exact size of Starboard's investment in Becton Dickinson has not been disclosed, as reported by the Financial Times. Both Starboard and Becton Dickinson have not commented on the matter in response to the FT's request for statements.

This move by Starboard comes amid a broader trend of activist investors taking positions in companies to influence their strategic direction, often seeking to unlock shareholder value through changes in operations, asset sales, or other restructuring efforts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

https://www.msn.com/en-us/money/companies/becton-dickinson-stock-rises-on-activist-stake-report/ar-AA1ykdRv?ocid=finance-verthp-feeds

Natera National Commercial Coverage for its Fetal RhD NIPT

 Coverage from one of the largest payors in the country expands access to fetal RhD testing for pregnant patients nationwide

https://www.businesswire.com/news/home/20250203957122/en/

ReShape Patent in Israel for Its Proprietary Diabetes Neuromodulation Tech

  ReShape Lifesciences® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that the Company was granted a key international patent from the State of Israel Patent Office for its Diabetes Neuromodulation technology. Patent Number 277949, entitled, “Simultaneous Multi-Site Vagus Nerve Modulation for Improved Glycemic Control Systems and Methods,” will provide protection until December 4, 2039. The Diabetes Neuromodulation system utilizes its proprietary vagus nerve block (vBloc™) technology platform, combined with vagus nerve stimulation, for the treatment of Type 2 diabetes, a prominent disorder associated with obesity.

https://www.globenewswire.com/news-release/2025/02/03/3019532/0/en/ReShape-Lifesciences-Granted-Key-International-Patent-in-Israel-for-Its-Proprietary-Diabetes-Neuromodulation-Technology.html

Vanda to Develop and Commercialize Imsidolimab, an IL-36R Antagonist, for Ananptys

 

  • Imsidolimab has successfully completed two global Phase 3 studies in Generalized Pustular Psoriasis
  • Vanda expects to immediately begin preparing BLA and MAA applications for the US and EU
  • Anaptys to receive $15 million from Vanda, comprised of a $10 million upfront payment and $5 million for existing drug supply
  • Anaptys to receive a 10% royalty on global net sales of imsidolimab

China Reportedly Preparing Trade Talks With Trump After Weekend Tariff Shock

 Just two weeks into his second term, President Trump announced the first round of tariffs on Saturday, marking the resumption of his trade war. The new measures impose a 25% tariff on imported goods from Mexico and Canada—though energy imports from Canada will face a reduced rate of 10%—and a 10% tariff on imports from China. The weekend announcement surprised many world leaders and Wall Street but apparently captured Beijing's attention.

The Wall Street Journal reports that China is preparing for trade talks with the Trump administration, aiming to restore a trade agreement with the US and reaffirm its pledge not to devalue the yuan for a competitive advantage in global trade. Based on unnamed sources, the report has not yet been officially confirmed.

Here's more from the report:

As part of its effort to prepare for negotiations, according to the people, China's initial proposal will center on restoring a trade agreement Beijing signed in early 2020 with the first Trump administration but didn't implement.

The so-called Phase One deal required China to increase purchases of American goods and services by $200 billion over a two-year period. While Trump himself has described Phase One as the "greatest deal" ever made, many trade experts and business executives called it unrealistic to begin with.

Having failed to deliver on its pledge under the deal to increase US purchases, Beijing now is preparing to talk to the Trump administration about areas where China can buy more from the US, the people said.

Other parts of China's plan, the people said, include an offer to make more investments in the US—in sectors such as batteries for electric cars, a renewed pledge by Beijing not to devalue the yuan to gain competitive advantage, and a commitment to reduce exports of fentanyl precursors.

Beijing views the 10% tariff as Trump's way of bringing all parties to the negotiating table. Trump has threatened to impose maximum-pressure tariffs on China, potentially as high as 60%.

The initial reaction from Beijing has been muted, with the Commerce Ministry expressing strong "dissatisfaction" and vowing "corresponding countermeasures."

Wang, UBS chief China economist, told clients earlier that Beijing would be willing to negotiate because of the negative impact the trade war could have on its economy. The 10% tariff, she said, would reduce the country's GDP by .3 to .4 percentage points. 

Goldman's Dan Dooling (EMEA Head of FX HF Sales) provided clients with a great summary of the trade situation unfolding from Saturday:

  • Weekend Trump tariff announcements a surprise vs Friday's close

  • US effective tariff rate rises +7% from from Mexico & Canada proposals with a further 1% from China proposals

  • 2.5% GDP hit in Canada, 3.5% in Mexico under full 25% tariff

  • The 25% Canada and Mexico tariffs imply a 0.7% increase in US core PCE prices and 0.4% hit to GDP (US econ team had 0.3% core pce boost in their baseline)

Canada, Mexico, and China account for about half of all US goods imports. 

Goldman's Jack McFerran said weekend tariff shock would raise the US effective tariff rate meaningfully: "We had modeled a 7% overall increase from 25% tariffs on Canada/Mexico (though lower tariff on Canadian oil will lower this a bit). China would add another 1%."

More context here:

Prediction markets early had a 30% probability of a major tariff increase in the first half of this year. The market-implied probability now - via Polymarket data - has jumped to 65%. 

All in all, Trump's weekend tariff shock announcement is to get major trading partners to the table to solve not just unfair trade - but also - stop fentanyl precursor chemicals from China, flowing into Mexico and Canada, then flowing into the US and killing 100,000 Americans per year. 

https://www.zerohedge.com/geopolitical/china-reportedly-preparing-trade-talks-trump-after-weekend-tariff-shock

Putin: Trump Will Restore Order; Elites Will "Stand At The Master's Feet And Gently Wag Their Tails"

  by Steve Watson via Modernity.news,

Russian leader Vladimir Putin has commented on President Trump’s first weeks in office and the effect it will have on Europe, declaring that political elites will fall into line at Trump’s feet.

In an interview with Russia Today, Putin stated “Nothing has changed. They were happy to carry out any order from Washington under Biden.”

“They just don’t like Trump,” he continued, adding “They forgot him actively, really interfered in political life, in the election process of the United States. And then they were confused when Trump suddenly won.”

Putin further declares that the political elite in Europe “mentally liked Biden more,”

“But Trump has better ideas about what is good, what is bad, including in gender policy, in some other issues, they kind of don’t like it,” the Russian president asserted.

“But I assure you, Trump with his character, persistence, he will restore order pretty quickly,” Putin stated, adding “And all of them, you’ll see, it will happen quickly, soon, all of them will stand at the master’s feet and gently wag their tails.”

Trump stated over the weekend that he “absolutely” intends to place tariffs on EU countries where he sees fit.

The comments also come after Putin and Trump reportedly spoke about ending the conflict in Ukraine, with Trump adamant that Ukrainian President Zelenskyy is ready to make a deal.


https://www.zerohedge.com/geopolitical/putin-trump-will-restore-order-elites-will-stand-masters-feet-and-gently-wag-their

Sunday, February 2, 2025

FDA Action Alert: GSK, Indivior, SpringWorks, More

 

The rare disease space is awaiting two FDA verdicts in February, one for a genetic disease and another for a non-malignant tumor.

The FDA is looking at five big deadlines in February, including one for a broad meningococcal vaccine that promises to provide potent protection against five of the most common serogroups in the U.S.

Read below for more.

Indivior Proposes Alternate Injection Sites for Opioid Use Disorder Therapy

By February 7, the FDA is set to release its decision on Indivior’s Prior Approval Supplement (PAS) filing, which proposes alternative injection sites for its opioid use disorder treatment Sublocade (buprenorphine extended-release).

Sublocade is a long-acting formulation of buprenorphine, an opioid agonist, that is indicated for patients with moderate to severe opioid use disorder who have already initiated treatment with another buprenorphine-containing product. Currently, the drug is administered through a subcutaneous injection in the abdomen.

If approved, the PAS will allow sublocade to be delivered through the thigh, buttocks and back of the upper arm. The PAS also proposes a rapid induction protocol that would shorten induction time from the presently approved minimum of 7 days, down to a single dose of transmucosal buprenorphine followed by a 1-hour observation period.

Indivior is backing its PAS with data showing the safety and efficacy of the proposed routes of administration and rapid induction protocol.

“These updates are expected to enhance the patient experience and expand treatment access especially for those patients who … have long-term opioid use including fentanyl,” the biotech wrote in its October 2024 news release.

GSK Looks to Expand Meningococcal Protection with New Shot

GSK is advancing a 5-in-1 vaccine candidate designed to elicit broad protection against the five most common bacterial groups causing invasive meningococcal disease. The FDA is currently reviewing the pharma’s Biologics License Application (BLA), with a decision due on Feb. 14.

The investigational shot, dubbed MenABCWY, combines two well-established meningococcal vaccines: Bexsero, which targets group B bacteria, and Menveo, which covers the A, C, W and Y serogroups. Both Bexsero and Menveo are owned by GSK.

According to the pharma, combining these five bacterial groups in one protective shot “aims to reduce the number of injections, simplifying immunization” and improving adherence and completion rates for the vaccine. In turn, this can lead to better health outcomes and lower the overall incidence of invasive meningococcal disease, GSK said in a statement.

To back MenABCWY, GSK provided Phase III data showing that the vaccine candidate induced non-inferior immune responses as compared with one dose of Menveo and with two doses of Bexsero. MenABCWY was also well-tolerated and its adverse events were consistent with the two comparator vaccines.

Ono Sets Sights on Rare, Non-Malignant Tumor

Osaka-based Ono Pharmaceutical is proposing vimseltinib, an investigational colony stimulating factor 1 receptor (CSF1R) inhibitor, for the treatment of tenosynovial giant cell tumor (TGCT). The FDA is expected to release its decision by Feb. 17.

TGCT is a rare type of non-malignant tumor that develops in or around joints. The disease is caused by a mutation in the CSF1 gene that results in the overexpression of the protein, in turn recruiting an abundance of CSF1R-expressing inflammatory cells to the tumor site. TGCT is benign but can damage surrounding tissue once progressed. Patients often suffer from pain, swelling and limitations in joint movement.

Currently, TGCT is managed primarily through surgery, though this option frequently leads to disease recurrence. In patients who cannot undergo surgery, systemic therapies are limited, according to Ono. If left unchecked or allowed to continuously recur, TGCT can lead to significant disability.

Vimseltinib is an orally available switch-control tyrosine kinase inhibitor designed to strongly block CSF1R, targeting a key disease pathway in TGCT. Ono, through its subsidiary Deciphera, is backing vimseltinib’s application with data from the pivotal Phase III MOTION trial, which found that the candidate elicits significantly better objective response rate versus placebo, while also hitting its key secondary endpoints.

SpringWorks Awaits Verdict for Rare Genetic Disease Therapy

By Feb. 28, the FDA is expected to decide on SpringWorks Therapeutics’ investigational MEK inhibitor mirdametinib, which the Connecticut-based biotech is developing for neurofibromatosis type 1-associated plexiform neurofibromas (NF1-PN) in adults and children.

NF1 is a highly heterogeneous rare and genetic disease with varied manifestations across different organ systems, including tumor formation and growth, neurological complications and skeletal deformities. The PN subtype of NF1 is characterized by tumors along the sheathes of peripheral nerves, in turn leading to severe disfigurement, functional impairment and pain, according to SpringWorks.

NF1, including the PN subtype, is caused by loss-of-function mutations in the NF1 gene, which under healthy conditions encodes for the neurofibromin protein that suppresses the MAPK pathway. Mirdametinib addresses this by penetrating into the central nervous system to inhibit MEK1 and MEK2, two signaling molecules that play key roles in the MAPK pathway.

To back its drug application, SpringWorks provided data from the Phase IIb ReNeu study, which focused on patients aged 2 years and older and found that mirdametinib elicited “robust” objective response rates, deep and durable responses and notable improvements in pain and health-related quality of life. The FDA has granted mirdametinib its Priority Review and Orphan Drug designations for NF1-PN.

Eton Pharma’s New Oral Hydrocortisone Formulation Nears Approval

Also by Feb. 28, the FDA is scheduled to release its verdict regarding Eton Pharmaceuticals’ novel oral formulation of hydrocortisone, dubbed ET-400, for adrenal insufficiency in infants.

ET-400 is a new and proprietary formulation of oral hydrocortisone that is stable at room temperature. Eton recently won patent protection over this formulation that will last until 2043. The biotech also has other patent applications for ET-400 that are currently under review.

Eton also owns Alkindi Sprinkle, an oral granule formulation of hydrocortisone that is likewise indicated for children with adrenocortical insufficiency. The drug, approved in 2020, is an immediate-release glucocorticoid that can sufficiently replace cortisol in these patients. Alkindi Sprinkle is specifically formulated to allow parents to give lower doses to small children, instead of needing to cut higher-strength hydrocortisone tablets.

If approved, ET-400 would allow Eton to “capture a greater percentage of the oral hydrocortisone market,” CEO Sean Brynjelsen said in the biotech’s press statement on the FDA’s acceptance of ET-400’s drug application. Together with Alkindi Sprinkle, ET-400 could hit peak sales of more than $50 million per year, Brynjelsen added.

https://www.biospace.com/fda/fda-action-alert-gsk-indivior-springworks-more