Texas Governor Greg Abbott signed into law a bill that will require warning labels on products such as M&Ms, Cinnamon Toast Crunch and Fanta, sparking protest from the packaged-food industry.
Abbott’s signature of Senate Bill 25 on Sunday represents a victory for Health and Human Services Secretary Robert F. Kennedy Jr.’s “Make America Healthy Again” movement, which is looking to remove ingredients such as synthetic dyes from the nation’s food supply.
Vertex Pharmaceuticals (VRTX, Financial) has entered into an exclusive agreement with Ono Pharmaceutical to advance the development and commercialization of its innovative treatment, povetacicept, in Japan and South Korea. Povetacicept is a promising therapeutic agent designed to combat B cell-related conditions such as immunoglobulin A nephropathy and primary membranous nephropathy.
Through this partnership, Vertex will receive an upfront payment along with regulatory and commercial milestone payments, in addition to tiered royalties. Ono will play a crucial role by leveraging its development expertise to propel Vertex's clinical trials in these regions. The company will also oversee the process of securing marketing approvals in both countries. Upon gaining approval, Ono will take charge of the commercial distribution of povetacicept in Japan and South Korea.
This collaboration not only focuses on povetacicept for immunoglobulin A nephropathy and primary membranous nephropathy but also opens the door for exploring other potential applications for the drug.
The sports world was rocked last week after the Buss family sold the Los Angeles Lakers after owning the NBA team for over four decades and leading the franchise to 11 NBA championships. The transaction value of approximately $10 billion was the highest ever valuation for a U.S. professional sports franchise, which leads to questions on how investors could participate in the exclusive pro sports ownership sector.
Investors interested in owning a stake in professional sports teams have a few indirect ownership options. The Atlanta Braves parent company, Atlanta Braves Holdings (NASDAQ:BATRA) (NASDAQ:BATRK) is traded on the Nasdaq. Similarly, the New York Knicks and New York Rangers are owned by Madison Square Garden Sports Corp. (MSGS).
In Europe, soccer giant Manchester United (NYSE:MANU) is a pure play investment in one of the world's most famous football clubs. Other European football clubs, such as Borussia Dortmund in Germany (OTCPK:BORUF), Juventus in Italy (OTCPK:JVTSF), Ajax in the Netherlands (AFCJX), F.C. Copenhagen in Denmark, and Celtic FC (OTCPK:CLTFF) in the UK, also offer shares to the public.
Major league baseball club Toronto Blue Jays is owned by Rogers Communications (RCI), which is listed on both the Toronto Stock Exchange and the New York Stock Exchange. Meanwhile, the Toronto Maple Leafs of the NHL and the Toronto Raptors of the NBA are both owned by Maple Leaf Sports & Entertainment, which is a private company and not publicly traded. However, Rogers Communications (RCI) is set to become the majority owner of MLSE. Finally, BCE Inc. (BCE) holds a minority ownership stake in the Montreal Canadiens
Pro sports teams that have traded publicly in the past include the Boston Celtics, Cleveland Indians, and Florida Panthers.
A unique case in the pro sports industry is the Green Bay Packers football team, which is owned by a nonprofit with shares held by fans on a symbolic basis.
Airlines on Monday were weighing how long to suspend Middle East flights as a conflict which has already cut off major flight routes entered a new phase after the U.S. attacked key Iranian nuclear sites and Tehran vowed to defend itself.
Cancellations in recent days to usually resilient aviation hubs like Dubai, the world's busiest international airport, and Qatar's Doha by international carriers show how aviation industry concerns about the region have escalated.
The usually busy airspace stretching from Iran and Iraq to the Mediterranean has been largely empty of commercial air traffic for 10 days since Israel began strikes on Iran on June 13, as airlines divert, cancel and delay flights through the region due to airspace closures and safety concerns.Ai
Leading Asian carrier Singapore Airlines, which described the situation as "fluid", moved to cancel flights to Dubai through to Tuesday, having previously cancelled only its Sunday service.
IAG group member Iberia cancelled Sunday's and Monday's Doha flights after making its own assessment, a spokesperson said. It has not made a decision regarding later flights.
Air France KLM cancelled flights to and from Dubai and Riyadh on Sunday and Monday, and Finnair cancelled flights from Doha until at least Tuesday.
Kazakhstan's Air Astana cancelled flights to Dubai on Monday.
However, some international airlines were expecting to resume services.
Flightradar24 departure boards show British Airways, owned by IAG, was set to resume Dubai and Doha flights on Monday after cancelling routes to and from those airports on Sunday.
With Russian and Ukrainian airspace also closed to most airlines due to years of war, the Middle East had become a more important route for flights between Europe and Asia. Amid missile and air strikes during the past 10 days, airlines have routed north via the Caspian Sea or south via Egypt and Saudi Arabia.
Added to increased fuel and crew costs from these long detours and cancellations, carriers also face a potential hike in jet fuel costs as oil prices rise following the U.S. attacks.
Australia-based Flight Centre Travel Group said it is getting a small number of customer requests to route journeys to Europe away from Middle Eastern hubs.
"The most common transfer hubs that we're seeing requested are Singapore, Hong Kong, China, Johannesburg, or even direct between Perth and London," said Graham Turner, CEO of Australia-based Flight Centre Travel Group.
AIRSPACE RISKS
Proliferating conflict zones are an increasing operational burden on airlines, as aerial attacks raise worries about accidental or deliberate shoot-downs of commercial air traffic.
Location spoofing and GPS interference around political hotspots, where ground-based GPS systems broadcast incorrect positions which can send commercial airliners off course, are also a growing issue for commercial aviation.
Flightradar24 told Reuters it had seen a "dramatic increase" in jamming and spoofing in recent days over the Persian Gulf. SkAI, a Swiss company that runs a GPS disruption map, late on Sunday said it had observed more than 150 aircraft spoofed in 24 hours there.
Safe Airspace, a website run by OPSGROUP, a membership-based organisation that shares flight risk information, said U.S. attacks on Iran's nuclear sites could heighten the threat to American operators in the region.
This could raise additional airspace risks in Gulf states like Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, it said.
In the days before the U.S. strikes, American Airlines suspended flights to Qatar, and United Airlines and Air Canada did the same with flights to Dubai. They have yet to resume.
While international airlines are shying away from the region, local carriers in Jordan, Lebanon and Iraq are tentatively resuming some flights after widespread cancellations.
Israel is ramping up flights to help people return home, and leave. The country's Airports Authority says that so-called rescue flights to the country would expand on Monday with 24 a day, although each flight would be limited to 50 passengers.
From Monday, Israeli airlines will start to operate outbound flights, the authority said.
Israeli airline El Al on Sunday said it had received applications to leave the country from about 25,000 people in about a day.
Illumina said Monday it agreed to acquire SomaLogic and other assets from Standard BioTools for $350 million in cash to expand in the proteomics market.
The deal includes additional near-term payments of up to $75 million tied to performance milestones, plus royalties.
Illumina said the acquisition of SomaLogic, a leader in data-driven technology, will advance the company’s multiomics strategy and strengthen the value of its NovaSeq X products.
“Illumina and SomaLogic have partnered closely for more than three years, and this combination increases our ability to serve our customers and accelerate our technology roadmap towards advanced biomarker discovery and disease profiling,” Illumina CEO Jacob Thaysen said in a statement.
SomaLogic produces next-generation sequencing library preparation kits. Standard BioTools, which acquired SomaLogic and its SomaScan technology 18 months ago, said Monday it will retain certain reagent commercialization rights on SOMAmer kits.
Illumina will remain an open NGS platform, Thaysen said, and the company is committed to maintaining its existing proteomics partnerships and supporting a variety of multiomics solutions.
The acquisition by Illumina will help lead SomaScan to its next phase of growth, said Standard BioTools CEO Michael Egholm, adding that the “value of this transaction reflects the fundamental improvements we have made to the business.”
For Standard BioTools, the transaction will simplify the company’s operating structure and enable its adjusted earnings before interest, tax, depreciation and amortization to achieve break-even, the CEO said.
SomaLogic has about 250 employees worldwide. The company’s Boulder, Colorado, facilities, which include a lab, office and manufacturing space, will be part of the purchase.
Illumina expects the deal to close in the first half of 2026.
https://www.medtechdive.com/news/illumina-to-buy-SomaLogic-425m/751322/
CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announces an update related to its Large Dialysis Organization (LDO) customer and planned implementation in the second half of 2025.
CorMedix’s LDO customer has commenced ordering and will begin the implementation of DefenCath in its patients. Implementation will initially target at least 50% more patients than previously communicated, with the opportunity for further expansion. In connection with this expanded utilization, CorMedix has amended its existing agreement with the LDO customer to reflect the anticipated increased use of product. CorMedix expects a modest revenue contribution in June, with growth expected over the back half of 2025.
As a result of this new customer implementation and other positive business developments, CorMedix is increasing its second quarter net sales guidance from the previously communicated $31mm to a range of $35mm to $40mm.
https://www.biospace.com/press-releases/cormedix-inc-announces-customer-implementation
Johnson & Johnson (NYSE: JNJ) announced on Monday that its FcRn blocker IMAAVY (nipocalimab-aahu) demonstrated consistent and sustained disease control compared to other approved FcRn blockers in adults with generalized myasthenia gravis (gMG), according to new data from an indirect treatment comparison.
The findings, presented at the European Academy of Neurology 2025 Congress in Helsinki, showed IMAAVY had comparable symptom relief onset at Week 1 and demonstrated greater or statistically significant improvement in MG-ADL scores versus other marketed FcRn blockers at several timepoints up to 24 weeks of treatment. This development adds to Johnson & Johnson’s robust pharmaceutical portfolio, which has helped drive the company’s impressive $89.3 billion in revenue over the last twelve months.
Population-adjusted comparisons showed significantly greater mean improvements in MG-ADL scores favoring IMAAVY over competitors at various timepoints between Weeks 8-24 for one comparator and Weeks 10-14 for another.
"These analyses provide useful population-adjusted comparative data and add to the body of evidence supporting the use of IMAAVY for the treatment of gMG for certain patients," said Saiju Jacob, Professor at the University of Birmingham.
IMAAVY received FDA approval earlier this year for treatment of gMG in adults and pediatric patients 12 years and older who are anti-acetylcholine receptor or anti-muscle-specific tyrosine kinase antibody positive. This represents the broadest approved patient population among gMG treatments.
Unlike cyclic therapies requiring clinical evaluation and symptom relapse before subsequent treatment cycles, IMAAVY follows a biweekly dosing regimen that may offer more predictable scheduling for patients and healthcare providers.
Johnson & Johnson submitted a Marketing Authorisation Application to the European Medicines Agency for nipocalimab in gMG in September 2024.
The indirect treatment comparison was funded by Janssen Research & Development, LLC, a Johnson & Johnson company, and used data from published registrational trials of IMAAVY and comparator FcRn blockers.
