Theratechnologies to be bought by CB Biotechnology for $254M

 Shares of Theratechnologies (NASDAQ:THTX) rose after the company announced on Thursday that it will be acquired by CB Biotechnology, a subsidiary of Future Pak, in a deal valued at $254M.

CB Biotechnology plans to purchase Theratechnologies for $3.01 per share in cash, along with one contingent value right per share, which could lead to additional cash payments of up to $1.19 per CVR if specific milestones are achieved.

The upfront cash offer and the total potential cash consideration represent premiums of 126% and 216%, respectively, compared to the Nasdaq closing price before Future Pak's initial non-binding proposal was made public.

Future Pak will finance the transaction through a mix of debt and available cash.

In certain situations, Theratechnologies will owe a termination fee of $6M to CB Biotechnology.

Conversely, if the deal does not go through under specific circumstances, CB Biotechnology will be required to pay a reverse termination fee of $12M to the Theratechnologies.

https://www.msn.com/en-us/money/companies/theratechnologies-to-be-bought-by-cb-biotechnology-for-254m/ar-AA1HU9aq

Apollo Hospitals Shares Jump to Record on Healthtech Arm Spinoff

 

Shares of Apollo Hospitals Enterprise Ltd., India’s largest healthcare services firm, surged to a record Tuesday after it announced plans to merge its digital health and pharmacy businesses and spin them off as a new listed entity.

The stock jumped as much as 4.7% after it said late Monday it will merge pharmacy business Apollo Healthco Ltd. and wholesale distributor Keimed Pvt. with Apollo Healthtech and list the newly created unit in 18 to 21 months.

https://www.bloomberg.com/news/articles/2025-07-01/apollo-hospitals-shares-jump-to-record-on-healthtech-arm-spinoff

Indonesia says it will sign $34 billion pact with US partners ahead of tariff talks deadline

 Indonesia will sign a pact worth $34 billion with business partners next week to boost purchases from the U.S., as part of efforts to strike a trade deal with Washington ahead of the July 9 deadline, Indonesia's chief economic minister said on Thursday.

The deal would include increasing imports of fuels and investment by Indonesian companies in energy and agriculture sectors in the U.S. Separately, flag carrier Garuda Indonesia also said it is in talks to buy up to 75 jets from Boeing.

Jakarta is facing a 32% tariff in U.S. markets and has previously offered to increase U.S. imports to facilitate trade talks between the two sides.

Indonesia enjoyed a goods trade surplus of $17.9 billion with the United States in 2024, according to the U.S. Trade Representative.

Speaking to journalists, Minister Airlangga Hartarto said the memorandum of understanding due to be signed on July 7 will deploy the $34 billion for new Indonesian investments and purchases in the United States.

"This shows that government, regulators, state-owned enterprises and the private sector are together in responding to the imposition of U.S. reciprocal tariffs," Airlangga said.

He said that by addressing the trade balance with the United States, Indonesia hoped to get a better trade deal than the one struck with Vietnam.

The U.S. announced on Wednesday that it will place a lower-than-promised 20% tariff on many Vietnamese exports, down from the original 46% announced by President Donald Trump in April.

Meanwhile, Garuda's potential jet purchase may include 737 Max 8 and 787 jets, its chief executive Wamildan Tsani told reporters after meeting Airlangga.

It was unclear whether Garuda's discussion with Boeing is part of the tariff negotiations.

The airline is struggling to recover from the impact of the pandemic. It secured a $405 million loan from sovereign wealth fund Danantara Indonesia in June for maintenance, repair and overhaul of its fleet.

https://www.msn.com/en-ca/money/topstories/indonesia-says-it-will-sign-34-billion-pact-with-us-partners-ahead-of-tariff-talks-deadline/ar-AA1HTgTq

New passport 'will speed medtech rollout in NHS'

 The UK government has released further details of its 10-year plan for the NHS, due to be released this week, including a new mechanism that it says will allow new technologies to be rolled out more quickly.

A new 'innovator passport' – which will be developed in the next two years – will mean that technologies that have been assessed by one part of the NHS and found to deliver benefits can be deployed more quickly by others.

The pathway would be available to a broad range of medtech technologies, according to the Department of Health and Social Care (DHSC), which gave special wound dressings to reduce infections, antimicrobial protective coverings for cardiac devices, and rapid influenza testing kits as recent examples of projects that could benefit.

According to the government, the passport will eliminate multiple compliance assessments, reducing duplication across the health service, and will be delivered through MedTech Compass, a recently launched digital platform developed by DHSC that will speed up decision-making in trusts and will act as a one-stop shop for NHS assessments.

The pathway will mean that NHS patients "will get more effective treatments and support quicker, and the NHS will make the most of its finite assessment resource, all while businesses are given a boost through the government’s industrial strategy," said the department.

"The digital system will act as a dynamic best buyer’s guide, making it easier for trusts to compare products side-by-side in one place," it added.

For medtech companies, the initiative promises to do away with bureaucracy that the government says has discouraged businesses from pursuing NHS deployment.

"For too long, Britain’s leading scientific minds have been held back by needless admin that means suppliers are repeatedly asked for the same data in different formats by different trusts – this is bad for the NHS, patients, and bad for business," said Health and Social Care Secretary Wes Streeting.

"These innovator passports will save time and reduce duplication, meaning our life sciences sector – a central part of our 10 Year Health Plan – can work hand in hand with the health service and make Britain a powerhouse for medical technology," he added.

"Frustrated patients will no longer have to face a postcode lottery for lifesaving products to be introduced in their area and companies will be able to get their technology used across the NHS more easily, creating a health service fit for future under the Plan for Change."

The scheme follows the publication of a UK strategy document for medtech in 2023 that called for greater consistency and clarity on how to bring innovative products to market, as well as a new Rules-Based Pathway that will extend the remit of health technology assessment (HTA) agency NICE to include devices, diagnostics, and digital health products.

First unveiled last year, the latter pathway aims to accelerate access to new medical technologies by laying out a common set of rules and commissioning principles and, according to NICE, will also be adopted in the 10-year plan.

"To give patients across the UK the best possible care, there must be a clear route to funding when NICE recommends a technology – whether it’s a medicine, device, or digital tool," said Sam Roberts, chief executive of the agency.

"Until now, that principle has only applied to medicines."

The UK medtech industry has a turnover of £34 billion ($43 billion), contributing £5.4 billion in exports, and employs more than 150,000 people.

https://pharmaphorum.com/news/new-passport-will-speed-medtech-rollout-nhs

Shionogi puts up to $600m behind BioVersys antibiotics

 Japan's Shionogi has added to its antibiotics pipeline by partnering a preclinical-stage candidate from Swiss biotech BioVersys, which specialises in drugs that can counter antimicrobial resistance (AMR).

Basel-based BioVersys stands to receive CHF 5 million upfront under the terms of the deal, which could be worth up to CHF 479 million (around $600 million) with milestones. In return, Shionogi gets an option to jointly develop the biotech's ansamycin platform, currently led by a candidate codenamed BV500.

BV500 is being developed for non-tuberculous mycobacteria (NTM), a group of bacteria found in soil, water, and dust that, as its name suggests, does not include the organism that causes tuberculosis.

The group can cause serious infections affecting the lungs, skin, and other tissues like joints and bone, with Mycobacterium avium complex (MAC) and Mycobacterium abscessus subspecies (MAB) the most problematic pathogens, typically seen in people with underlying conditions like immunosuppression or chronic lung diseases like cystic fibrosis.

Ansamycins are a family of metabolites from the Actinomyces bacterial family that have been shown to have antimicrobial activity against a broad range of other bacteria, including both Gram-positive and Gram-negative organisms. Members of the class include rifamycins, which are already used to treat TB and other mycobacterial infections like leprosy.

At the moment, treatment of NTM infections is challenging due to variability in the response to antimicrobials and acquired resistance to treatment, along with treatment durations with current drugs that can extend to 12 months or more and side effects, said BioVersys.

BioVersys has come up with multiple high-potency, oral ansamycin candidates that have shown promise against NTMs and show no signs of cross-resistance with other antibiotics, like macrolides and aminoglycosides, that are currently used to treat these infections.

"This collaboration reduces research and development risk for BioVersys while preserving financial discipline," said BioVersys' co-founder and chief executive, Marc Gitzinger. "It also expands the reach of our pipeline and ensures the expedited development of our drug candidates."

He added that the company plans to start phase 3 trials of its lead drug BV100, a new formulation of rifabutin suitable for intravenous administration, which is being developed for serious hospital infections caused by Acinetobacter baumannii, a 'superbug' that is considered an 'urgent threat' by the CDC.

While there has been a massive reduction in the number of pharma companies working on antibiotic development in recent decades, in part because of the limited market for novel drugs that are typically reserved for last-line use in AMR cases, BioVersys is confident that there is a "clear and sustainable commercial opportunity" for its pipeline.

Earlier this year, the company listed on the SIX Swiss Exchange with a market capitalisation of CHF 216 million.

https://pharmaphorum.com/news/shionogi-puts-600m-behind-bioversys-antibiotics

US Refiners Rely on Shale More Than Ever as Heavy Oil Supplies Dwindle

 

American refiners are relying on oil supplies from the country’s biggest shale basins more than ever as flows of denser varieties from places like Mexico ebb.

US fuelmakers are consuming the lightest oil diet on record, according to recent government data, leaning heavily on shale formations in Texas, New Mexico and North Dakota. The shift comes as heavy crude supplies are strained by falling production from Mexico and a de facto US ban on imports of Venezuelan oil.

https://www.bloomberg.com/news/articles/2025-07-03/us-refiners-rely-on-shale-more-than-ever-as-heavy-oil-supplies-dwindle

My Wray Or Highway: Report Questions FBI Spiking Report Contradicting Director

 by Jonathan Turley,

Newly declassified FBI documents obtained by Fox raise troubling questions over the FBI allegedly spiking findings that contradicted the testimony of  then-FBI Director Christopher Wray.

The FBI had uncovered a Chinese conspiracy to influence the election in favor of then-President Joe Biden, including the creation of false driver’s licenses.

Wray denied that such efforts were occurring and the FBI reportedly proceeded to effectively bury the report.

Agents had found that the Chinese manufactured fake driver’s licenses and shipped them to the U.S. in a scheme to help Biden. That not only contradicted the narrative of the election, but Wray’s testimony.

Wray testified before Congress that the FBI had not seen any coordinated voter fraud ahead of the 2020 election:

“We have not seen historically any kind of coordinated national voter fraud effort in a major election, whether it is by mail or otherwise.”

However, that does not appear to be true.

The FBI “recalled” the reporting after his testimony “in order to re-interview the source.” It also directed “recipients” of the original report to “destroy all copies of the original report and remove the original report from all computer holdings.”

In a letter to Sen. Chuck Grassley (R, Iowa), Assistant FBI Director Marshall Yates stated that “Although the source was reengaged and provided additional context to support the initial IIR, FBI Headquarters maintained its position not to republish the report.”

Of course, there is little interest in most of the media on this foreign interference story despite the allegations of a cover up before the election.

Critics are alleging a cover up with FBI agents effectively told that it is my Wray or the highway when it came to Chinese interference with the election.

https://www.zerohedge.com/political/my-wray-or-highway-new-report-raises-troubling-questions-over-fbi-spiking-report