Bain buys Japanese pharma Mitsubishi Tanabe for $3.4bn

 US investment group Bain Capital has agreed to buy Mitsubishi Tanabe Pharma for JPY 510 billion (around $3.4 billion), setting up one of the largest private equity buyouts in Japan's healthcare sector in recent years.

The deal, which includes Mitsubishi Tanabe's subsidiaries Medicago and Alpha Therapeutics, will provide much-needed investment to support the drugmaker's pipeline of drugs for central nervous system diseases, immuno-inflammatory disorders, and cancer, according to its parent company Mitsubishi Chemical Group, which revealed that it was exploring options for the business last year.

"With the advancement of therapeutic drugs and diversification of modalities, the disease areas with unmet needs are gradually shrinking," said Mitsubishi Chemical in a statement.

"Moreover, given that the possibility of success of drug discovery is not high, continuous additional investments are essential for enhancing [Mitsubishi Tanabe's] research and development capabilities and achieving further growth."

Bain is expected to take ownership of the pharma company in the third quarter of this year, and the transaction comes after another US private equity firm – Blackstone – had also been linked to a potential offer for the business.

Mitsubishi Tanabe's sales in the first nine months of its current fiscal year ending on 31st March came in at JPY 349 billion ($2.3 billion), which the company said was a JPY 11.2 billion increase on the same period of the previous year.

It attributed the increase to growth in sales of Radicava ORS (edaravone), its treatment for patients with amyotrophic lateral sclerosis (ALS) in the US, and Japanese sales of obesity drug Mounjaro (tirzepatide) licensed from Eli Lilly. However, those gains were pegged back by price cuts for medicines sold in the domestic Japanese market after National Health Insurance (NHI) revisions.

Ricky Sun, partner at Bain Capital, said: "We believe there are promising signs for growth and untapped opportunities in Japan's life sciences industry as government and regulators have launched several initiatives to accelerate the development and approval of innovative medicines in the Japanese market."

Mitsubishi Tanabe's international pipeline includes roluperidone for schizophrenia, which was rejected for approval in the US last year and is in phase 3 in Europe, a continuous pump formulation of levodopa/carbidopa for Parkinson's disease in late-stage development that would compete with AbbVie's recently-launched Produodopa, and selective melanocortin 1 receptor agonist dersimelagon, in phase 3 for porphyrias and phase 2 for systemic sclerosis.

https://pharmaphorum.com/news/bain-buys-japanese-pharma-mitsubishi-tanabe-34bn

Trump plans to meet with Zelenskyy as he looks to end Ukraine war

 President Donald Trump may soon meet with Ukrainian President Volodymyr Zelenskyy.  

"He may meet next week, yeah. Whenever he would like. I’m here," Trump told reporters while hosting Japanese Prime Minister Shigeru Ishiba on Friday. 

Trump said that the meeting would likely be held in Washington, D.C., because he would not go to Ukraine. 

Trump also said there was a possibility he would meet with Russian President Vladimir Putin, noting that the two have always had a "very good relationship." 

"That’s why it is so sad that this happened," Trump said, appearing to reference Russia’s invasion of Ukraine in February 2022. "This never would have happened if I were president." 

Trump, who met with Zelenskyy in New York in September 2024, urged Putin to cease the war — or face sanctions — in a post on Truth Social on Jan. 22. 

"Settle now, and STOP this ridiculous War! IT'S ONLY GOING TO GET WORSE," Trump said. If we don't make a 'deal', and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."

Treasury Secretary Scott Bessent also said he backed issuing harsher sanctions on Russia during his confirmation hearing Jan. 16 to expedite the end of the war. 

According to retired Lt. Gen. Keith Kellogg, Trump's envoy for Russia and Ukraine, Trump is the only person who could end the conflict. 

"The only person that Putin will really want to talk to — because he’s kind of denigrated other leaders that are out there — is President Trump, and President Trump’s the only one who can bring this to a conclusion," Kellogg told "Fox & Friends Weekend" on Sunday. 

The White House did not immediately respond to a request for comment from Fox News Digital. 

https://www.foxnews.com/politics/trump-plans-meet-zelenskyy-he-looks-end-ukraine-war

US State Department approves military sales worth $7.4 billion to Israel

 The U.S. State Department has approved the potential sales of missiles, munitions and other equipment to Israel for an estimated total of about $7.4 billion, the Pentagon said on Friday.

The Pentagon announced a $6.75 billion package of munitions, guidance kits, fuzes and munitions support and related equipment that included the principal contractor Boeing (NYSE:BA) among others.

It separately announced a $660 million deal to sell Hellfire Missiles and equipment in which Lockheed Martin (NYSE:LMT) would be the principal contractor.

https://www.investing.com/news/stock-market-news/us-state-department-approves-military-sales-worth-74-billion-to-israel-3857407

Trump and Japanese PM say Japan is looking at investment in US Steel instead of purchase

 U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba said on Friday Japan was looking at an investment in U.S. Steel instead of an acquisition.

Japanese firm Nippon Steel's bid to buy U.S. Steel was blocked last month by former President Joe Biden.

https://www.usnews.com/news/top-news/articles/2025-02-07/trump-and-japanese-pm-say-japan-is-looking-at-investment-in-us-steel-instead-of-purchase

A Third Of All US States Now Exploring Bitcoin, Crypto For Public Funds

  by Vince Dioquino via Decrypt.co,

A growing wave of U.S. states are pursuing legislation to establish strategic Bitcoin reserves or enable crypto investments for public funds, opening a shift in state-level fiscal policy.

Out of 50 U.S. states, 16 have ongoing legislative considerations and varying statuses.

Utah stands out as the state closest to a potential implementation.

The state's Blockchain and Digital Innovation Amendments bill was passed and recommended on third reading by the Economic Development and Workforce Services Committee through the House, with a majority vote of 8 to 1 on January 28.

Utah's bill would authorize the state treasurer to allocate up to 5% of certain public funds to "qualifying digital assets," as long as they meet the main requirement of having over $500 billion in market capitalization, averaged over the past 12 months.

While the bill does not explicitly mention Bitcoin in its language, only Bitcoin categorically passes the core requirement in terms of market capitalization.

Dennis Porter, CEO of Satoshi Act Fund, pointed out this contention on X after Justin Bechler, a Bitcoin advocate, argued that Porter's characterization of the bill was misleading due to Utah's Money Transmitter Act.

On the Bitcoin trail

Though a total of 17 states have filed for similar proposals,North Dakota's proposal was notably rejected on February 4, according to data visualized by the Bitcoin Reserve Monitor.

Several other states are considering similar moves to allow Bitcoin or crypto for use in public funds.

State-level momentum continues building, with New Mexico becoming the latest entrant. Senator Anthony L. Thornton introduced the Strategic Bitcoin Reserve Act (SB275) on February 4, proposing a 5% allocation of public funds to Bitcoin.

Arizona's Senate Finance Committee has advanced similar legislation, passing SB1025 which would permit up to 10% of public funds, including pension systems, to invest in cryptocurrencies.

A bill before the Arizona state senate would encourage the state’s portfolio of retirement plans for government workers to include Bitcoin ETFs. Adoption of the digital asset is proposed in Senate Concurrent Resolution 1016, introduced by state Sens. Jake Hoffman and Warren Petersen along with Rep. Joseph Chaplik. The non-binding resolution highlights the explosive market interest in Bitcoin and Bitcoin ETFs following the approval of 11 spot Bitcoin ETFs in January, noting that the top cryptocur...

Wyoming and Massachusetts have also joined the race, with the latter opening its rainy day funds to be invested in Bitcoin or any digital asset for up to 10% of its stabilization fund.

Texas, meanwhile, has taken a different approach with dual proposals. The state has a Senate bill in the works that would allow up to 1% allocation from its general revenue fund balance.

It also has a separate House bill focused on Bitcoin donations, with provisions for crypto payment conversions to Bitcoin. So far, neither has advanced to law.

From Oklahoma and Missouri to New Hampshire, Pennsylvania, and Ohio, various states in the U.S. have either proposed or pending bills, with the legislative status of these bills across 16 participating states actively being tracked by Bitcoin Reserve Monitor.

https://www.zerohedge.com/crypto/third-all-us-states-now-exploring-bitcoin-crypto-public-funds

Trump says he will announce reciprocal tariffs on many countries next week

 President Donald Trump said on Friday he plans to announce reciprocal tariffs on many countries next week, a major escalation of his trade war.

Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve U.S. budget problems.

"I'll be announcing that, next week, reciprocal trade, so that we're treated evenly with other countries," Trump said. "We don't want any more, any less."

The move would fulfill Trump's campaign promise to impose tariffs on American imports equal to rates that trading partners impose on American exports.

Trump made the announcement during a meeting with visiting Japanese Prime Minister Shigeru Ishiba. He said auto tariffs remained on the table amid reports that the White House was weighing potential exemptions.

Trump told Republican lawmakers of his plans during budget discussions at the White House on Thursday, three sources familiar with the plan told Reuters. Trump and top aides have said they plan to use higher tariffs on foreign imports to help pay for extending Trump's 2017 tax cuts, which independent budget analysts say could add trillions of dollars to the U.S. debt.

Increased tariffs could offset some of that cost, though they have only accounted for about 2% of annual revenues in recent years.

Trump announced tariffs of 25% on Canada and Mexico on Saturday but delayed them after a negative reaction from investors. The two largest U.S. trading partners agreed to increase enforcement efforts at the border, a top Trump priority.

Wall Street extended losses on Friday following the Reuters report of Trump's discussion with lawmakers.

U.S. consumer sentiment dropped to a seven-month low in February, and attitudes soured among Republicans as households took stock of what they believe will be a surge in inflation from Trump's tariffs.

Trump and his Republicans aim to unveil their ambitious tax and spending package this weekend. It faces a perilous path through Congress, where Republicans hold narrow majorities in the House of Representatives and the Senate. Republicans are expected to rely on arcane budget rules to bypass Democratic opposition, which will require them to work in lockstep.

Trump is due to have dinner with Senate Republicans on Friday and attend the Super Bowl with House Speaker Mike Johnson on Sunday.

In a confirmation hearing on Thursday, Trump's U.S. trade representative nominee Jamieson Greer said other countries will need to reduce barriers to U.S. exports if they want to maintain access to the U.S. market, citing Vietnam in particular.

https://finance.yahoo.com/news/exclusive-trump-told-gop-lawmakers-160217180.html

Lost In Today's Job Revision Chaos: Over 1 M Foreign-Born Workers Found Job...No Native Borns

 Slowly, the unprecedented payrolls fabrication of the Biden administration, which we spent much of the past 4 years exposing to our readers, is starting to unravel.

Earlier today, the BLS confirmed what we previewed last night (see "Tomorrow's Jobs Report Will Finally Capture The Surge In Illegal Aliens, Lead To Another Big Negative Payrolls Revision"), and admitted what we had been saying for much of the past 3 years - that most of the job gains in the past few years, and especially 2024, were a mirage, and following the dramatic August 2024 preliminary data revision which vaporized 818K jobs (which had never existed in the first place)...

... today we finally saw the details behind this near-record revision.

As part of its annual revision to both the Establishment and Household survey, today the BLS said that the "seasonally adjusted total nonfarm employment level for March 2024 was revised downward by 589,000. On a not seasonally adjusted basis, the total nonfarm employment level for March 2024 was revised downward by 598,000, or -0.4 percent. Not seasonally adjusted, the absolute average benchmark revision over the past 10 years is 0.1 percent." As a result, the over-the-year change in payrolls for March 2024 was revised from +2,900,000 to +2,346,000.

Another, perhaps easier way of showing just how dramatic this negative revision to the jobs data series is the following chart showing the monthly change in payrolls pre and post revision. One can immediately see just how much uglier it is, not only because the average increase in monthly payrolls drops for all three prior years (2022 from 441K to 380K, 2023 from 231K to 217K, 2024 from 186K to 166K), but because all of a sudden, those two lonely sub-100K prints in August and October (which only emerged as sub-100K following monthly revisions) were not that lonely and we now learn that June and July were also sub-100K prints.

In short, just as we have been warning since early-2024, the wheels of the US jobs market were falling off in mid 2024, and by the Trump came on board, the jobs market has become one giant Potemkin village on the verge of collapse.

Another highlight from today's data revision, this time impacting the Household Survey is that the massive gap between the Household and Establishment survey which we have noted on multiple occasions in the past, closed nearly by half when the BLS revised the number of employed workers higher by 2.2 million, to 163.9 million from 161.7 million, largely as a result of the BLS admitting that there are millions of illegal workers in the US, a topic which until the election was especially sensitive politically but no longer is. That said, there is still another 2 million jobs to go to close the gap, but we are confident that shouldn't be much of a problem.

And the reason why it won't be a problem is simple: while it won't get much discussion today, the biggest reason behind today's solid increase in the number of employed workers is the same one we have been pounding the table on since 2023. It's all foreign workers, and - as we explained recently - it is mostly all illegal aliens.

That's right, the BLS reported that in January, over a million, or 1,045,000 to be precise, foreign-born workers found a job (and as Standard Chartered explained lst June, this is largely illegal or "undocumented" aliens) compared to only 8,000 native-born workers!

This means that while we just hit another month of record foreign-born (largely illegal alien) workers, at 31.774 million, the number of native-born workers remains unchanged over the past six years, still below levels last hit in 2019, just before the covid crisis.

This also means that since July 2018, the US labor force has added 4.6 million foreign-born workers, while the number of native-born workers has declined by nearly 700K.

And while this (not really) shocking increase in foreign workers, which really is just the latest in a long series of monthly reports confirming that the only job growth in the US in the past 6 years has been for foreigners, is clearly the result of Biden's policies, we would recommend that president Trump do something to urgently if not immediately address this critical topic... a topic which one year ago we correctly predicted would win Trump the 2024 election - and which if left as is, will promptly lead to the transformation of the current euphoria in Trump's presidency, with disappointment.

https://www.zerohedge.com/economics/lost-todays-job-revision-chaos-over-1-million-foreign-born-workers-found-job-and-no