Manufacturing hangover drives Daiichi Sankyo into the red

 Daiichi Sankyo has reported its delayed financial results, saying that high spending on third-party manufacturing and a lower-than-expected take-up of its antibody-drug conjugates for cancer led to a net loss for the fiscal year ended 31st March.

The Japanese pharma group is predicting a net loss of JPY 149.4 billion (around $950 million) for the year, on revenues that came in slightly higher than forecast at JPY 2,123 billion ($13.4 billion), a rise of 12.5% on the previous year.

In its update, Daiichi Sankyo said the loss came about as a consequence of a programme of signing contracts with contract manufacturing organisations to supply its ADCs – such as AstraZeneca-partnered Enhertu (trastuzumab deruxtecan) and Datroway (datopotamab deruxtecan) and MSD-partnered patritumab deruxtecan – that included minimum purchase obligations and the securing of dedicated production lines.

With its own manufacturing capacity limited when these drugs were approaching the market, the company took the decision to secure "manufacturing capacity sufficient to cover maximum demand without risk adjustment, with the highest priority placed on 'ensuring a stable supply to all patients'."

As it turned out, delays in product launch timelines meant that the expected demand did not occur, and while Daiichi Sankyo pivoted to a new, risk-adjusted strategy in the middle of 2025, that came too late to avoid some of the impact of minimum purchase obligations in CMO contracts.

An upgrade to one of Daiichi Sankyo's Japanese plants to supply in-house manufacturing capacity for ADCs, in Odawara, has also been deemed surplus to requirements and cancelled, leading to an impairment charge of JPY 19.3 billion ($123 million) on equipment and fees arising from the cancellation of contracts with construction companies.

Two weeks ago, investors in the company were spooked when it pushed back its annual report, saying it needed more time to assess "the supply plans for its oncology products portfolio and development pipeline in light of rapidly changing business conditions."

Shares in the company fell by around 10% on the announcement, and while they have since tracked back up slightly, the stock is down 26.5% since the start of the year.

While Enhertu has been delivering for Daiichi Sankyo and AZ commercially, there was a delay to the rollout of Datroway in a lung cancer indication, while an application for patritumab deruxtecan in lung cancer was withdrawn last year after disappointing results in a confirmatory study.

Share in Daiichi Sankyo continued to weaken slightly today, suggesting that investors remain nervous, likely because the company's update said it is not yet able to make provision in its accounts for medium- to long-term differences between the minimum purchase obligation and the revised supply plan "due to the high level of uncertainty."

https://pharmaphorum.com/news/manufacturing-hangover-drives-daiichi-sankyo-red

Novo Nordisk’s Ozempic India Price Cut Boosts Obesity Drug Sales

 

Novo Nordisk A/S saw a 40% surge in sales of its diabetes and weight-loss drugs in India last month, after steep price cuts boosted demand for its branded treatments even as generic GLP-1 therapies flood the market.

Sales of Wegovy, Ozempic and partner-branded versions rose to 32,000 units in April, according to market researcher Pharmarack, marking the first full month of data since generic semaglutide started selling in India. Novo Nordisk slashed starting-dose prices by 36% and 48%, respectively, from April 1, bringing both drugs down to 5,660 rupees ($60).

https://www.bloomberg.com/news/articles/2026-05-08/novo-nordisk-s-ozempic-india-price-cut-boosts-obesity-drug-sales

https://breakingthenews.net/Article/Russia-downs-264-Ukrainian-drones-overnight/66249417

https://breakingthenews.net/Article/UAE-says-responding-to-missile-drone-threats/66248727

https://www.zerohedge.com/markets/blackrock-private-credit-fund-cuts-asset-values-5-golub-gates-after-85-redemptions

Wynn Considers Delay for UAE Casino Opening Due to Iran War

 Wynn Resorts is evaluating whether to push back the launch of its large-scale casino resort in the United Arab Emirates, according to sources cited by Bloomberg, as regional instability linked to the conflict involving Iran continues to affect construction and tourism activity. The project, valued at $5.1 billion, had been expected to open in early 2027, though earlier timelines also pointed to a spring debut next year.

The Las Vegas-based operator has not publicly confirmed any delay but acknowledged it is closely watching developments in the region. Construction work on the site, located on Al Marjan Island in Ras Al Khaimah, faced temporary interruptions after hostilities intensified, although activity resumed in March. Ongoing concerns, including drone and missile activity, have continued to disrupt progress and reduce visitor numbers.

Regional Tensions Disrupt Construction Plans

The possibility of postponement follows increasing security challenges tied to Iranian military actions. Reports indicate that infrastructure across the UAE, including commercial and transport hubs, has been targeted, creating complications for large development projects.

Recent incidents have included strikes damaging luxury resorts in Dubai, roughly an hour from Wynn’s development site. At the same time, the UAE’s defense authorities have reported intercepting drone and missile attacks, underscoring the ongoing risks in the region.

Wynn stated earlier that it remains in communication with both US and UAE officials as it monitors the situation. “The Company continues to be in regular communication with the governments of the United States and Ras Al Khaimah, UAE, so that we can make informed decisions,” the company said. “The Company believes the broad defense posture of the UAE has worked extremely well, and we have confidence in the UAE’s ability to keep its population safe.”

The resort, once completed, will be the first casino property of its kind in the Middle East. Plans for the complex include 22 restaurants, an events venue, private prayer facilities, and a large ballroom overlooking the marina.

Tourism Slowdown Adds Pressure

In addition to construction challenges, the regional tourism sector has experienced a significant downturn since the conflict escalated. Industry figures suggest visitor activity has fallen sharply, affecting occupancy rates and broader economic expectations for hospitality projects.

MGM Resorts International, which is also developing a hospitality project in Dubai, has acknowledged similar trends but maintains its timeline. CEO Bill Hornbuckle commented on the situation during a recent earnings call, saying: “The tourism business in that particular neck of the world is down to like 15%, give or take.” He added, “I’d say different occupancies are down to that level. So it will take some recovery time no matter what happens here over the next couple of months. But long-term, we remain very excited.”

Despite these short-term pressures, major operators continue to view the UAE as a promising location for future growth in gaming and hospitality.

Strategic Importance of the UAE Market

The UAE has drawn attention from casino operators due to its potential as a new market for gaming. Analysts estimate that, if additional venues are introduced, the country could generate between $3 billion and $5 billion in gross gaming revenue annually. Such figures would place it among the leading global markets in the sector.

Wynn’s Al Marjan Island resort is expected to play a central role in shaping that market. The development forms part of a broader push by the UAE to expand its entertainment and tourism offerings, including large-scale resorts and attractions.

Financial markets have reacted to the geopolitical situation as well. Wynn’s share price declined in the early stages of the conflict but has since recovered, showing gains over the past month.

https://news.worldcasinodirectory.com/wynn-considers-delay-for-uae-casino-opening-due-to-iran-war-122685

Fast-talking Rahm Emanuel tries to hide who the real crony capitalists are

 by Andrea Widburg

I learned a new term today: “Gish gallop,” which refers to a rhetorical device by which the speaker “attempts to overwhelm an opponent by presenting an excessive number of arguments, without regard for their accuracy or strength, with a rapidity that makes it impossible for the opponent to address them in the time available.” (Jeremy Boering explains it here, using Candace Owens as an example.)

That term applies to Rahm Emanuel’s technique in a short video clip of a discussion with former Virginia governor Glenn Youngkin. Using a rapid-fire sea of words, Emanuel claims Trump and his children got rich off the government, while conveniently overlooking the fact that he, like other prominent Democrats, went into government service poor and came out very, very rich, often in ways that seemed tied to access.

Here’s the video:

Admittedly, it’s a clip, so we don’t know what triggered his argument. What we know is Emanuel’s Gish gallop deflects attention from the truth: He became enormously wealthy after leaving government, and much of it was clearly related to his political connections.

Without taking a breath, Emanuel alleges that Trump is selling off the White House, that crony capitalism is in charge, that the Democrats are all about supporting the middle class, that the ballroom is somehow a product of corruption, that Trump’s and Howard Lutnick’s kids are enriching themselves from the government, that someone left office four billion dollars richer, and that Democrats who have won recent elections are moderates. Later, he states as fact that redistricting started in Texas.

There are a lot of things wrong with all of that.

Youngkin counters Emanuel’s claim about supposed Democrat moderates. He points out that these “moderates,” once in office, immediately enacted hard-left policies, with Virginia’s Governor Spanberger as Exhibit A. Rhetorically, this is smart. Given that Youngkin can’t counter everything Emanuel spouted, by addressing one obvious thing, he should be causing the audience to doubt Emanuel’s veracity.

Other things that would have been easy lines for attack are the claim that the Trump and Lutnick kids got rich off the government. They were already rich, and none of them have taken any government funds, directly or indirectly. They have pursued the same interests they always did, and done very well, too. Yes, having powerful fathers undoubtedly made them more attractive to investors of all stripes, but there’s no evidence that their fathers steered business their way. Meanwhile, standing in the middle of this argument is the entire Biden family.  

As for leaving office $4 billion richer, if Emanuel is referring to Trump, it’s generally believed that, when Trump left the White House in January 2021, he was $1-$2 billion poorer than when he entered office. Fortunately, Trump made that money back (and more) through smart business decisions, not cronyism, during his four years in the wilderness, despite sustained political and criminal-justice attacks.

The statement about redistricting is a half-truth. The current round of redistricting started in Texas. However, as the recent Callais decision revealed, Democrat states have been doing purely racial redistricting since 1992. Moreover, blue states currently have limited redistricting opportunities because they have already shut out Republican representation in their states (which is legal, and some red states have done the same).

But the real issue isn’t what Emanuel said; it’s what he didn’t say, and it’s important because of his overarching contention that the MAGA movement has used the government to enrich its top people at the expense of taxpayers.

It used to be that people left government and kind of vanished. However, beginning in the 1980s and accelerating through today, people leaving high government positions achieve vast wealth—especially Democrats.

Book deals and speaking fees (and, for the Obamas, production fees) turned career politicians like Bill and Hillary Clinton, Barack Obama, Joe Biden, Al Gore, and Kamala Harris, none of whom were wealthy when they worked in government, into millionaires or even multimillionaires once in the private sector. Importantly, they didn’t create anything; their power cachet and the promise of access created this wealth.

Once, politicians this prominent—three presidents, one Secretary of State, and two vice presidents (three if you count Joe Biden for this role too)—retired after their service. They may not have sat on the front porch in a rocking chair as Truman did, but they were far enough away from politics that one didn’t get the sense that their vast post-politics wealth was a continued pay-off for political access.

Rahm Emanuel followed this same Democrat trajectory. He went from college to community organizing and then got involved in political work. In other words, he never worked in a real business.

Nevertheless, when he left the White House in 1998 and joined an investment banking firm, despite having no banking or investment experience, he made $16.2 million in just two years. Then, he rolled back into politics: Freddie Mac, Congress, the Democratic Congressional Campaign Committee, Obama’s Chief of Staff, Mayor of Chicago, and (under Biden) Ambassador to Japan. After his mayoral stint, he picked up another $13 million for consulting and media work.

Rahm Emanuel is living in a well-populated glass house, one made up of an entire class of Democrat politicians who spent years transferring money from taxpayers to cronies and then, once in the private sector, miraculously become staggeringly wealthy—and the only way, it seems, that he can cover that up is to talk really, really fast.

https://www.americanthinker.com/blog/2026/05/fast_talking_rahm_emanuel_tries_to_hide_who_the_real_crony_capitalists_are.html