Friday, 4 Dec 2020

Biotech Stocks Facing FDA Decision In November 2020

MotoGP: Suzuki's Mir seals MotoGP world title in Valencia

(REUTERS) – Suzuki rider Joan Mir clinched his maiden MotoGP crown and became the Japanese team’s first world champion in two decades with a seventh-placed finish at the Valencia Grand Prix on Sunday (Nov 15).

Spaniard Mir began the race with a 37-point lead over his closest challengers and ensured a fourth successive top-10 finish from 12th on the grid to emulate American Kenny Roberts Jr, who won the riders’ championship for Suzuki in 2000.

European Economics Preview: Eurozone Revised GDP Data Due

Revised quarterly national accounts data from euro area is due on Friday, headlining a light day for the European economic news.

At 2.30 am ET, producer price figures are due from Switzerland. Prices had declined 3.1 percent annually in September.

At 2.45 am ET, the French statistical office Insee is set to issue final consumer prices. According to preliminary estimate, consumer prices remained unchanged for the second straight month in October.

At 3.00 am ET, Spain’s INE issues final CPI for October. Consumer prices are forecast to fall 0.9 percent on year, as initially estimated, in October.

In the meantime, GDP data is due from Hungary. Economists forecast the economy to contract 5.6 percent on year in the third quarter after falling 13.6 percent in the second quarter.

At 4.00 am ET, GDP and consumer prices are due from Poland. The economy is expected to grow 8 percent sequentially in the third quarter, in contrast to an 8.9 percent decrease in the second quarter.

At 5.00 am ET, Eurostat releases flash euro area GDP data for the third quarter. According to preliminary estimate, the currency bloc rebounded by a record 12.7 percent, reversing an 11.8 percent fall in the second quarter.

How YouTube became an internet video giant

With more than 500 hours of video uploaded every minute and more than one billion hours watched every day, Google's YouTube is the world's second-largest search engine. And its meteoric growth hasn't subsided. More than two billion users visit the site every month.

For Google's parent company Alphabet, it represents a significant portion of its business. In 2019, YouTube generated $15 billion in revenue. It's likely to surpass that this year with $12.89 billion in revenue so far, up about 24% from the same time last year.

While YouTube has dominated internet video and remains one of the top used streaming apps on mobile, it faces increasing competition. Steaming services like Netflix and Disney+, and social media apps like TikTok, are all vying for people's attention.

CNBC takes a look at how the video platform has changed over the past 15 years and if it can stay on top. 

EARNINGS SUMMARY: Details of China Pharma Holdings Inc. Q3 Earnings Report

Below are the earnings highlights for China Pharma Holdings Inc. (CPHI):

-Earnings: -$1.00 million in Q3 vs. -$0.7 million in the same period last year.
-EPS: -$0.02 in Q3 vs. -$0.02 in the same period last year.
-Revenue: $2.40 million in Q3 vs. $2.38 million in the same period last year.

GardaWorld Gets Clearance From U.S., Canada Regulators To Proceed Proposed Merger With G4S

Garda World Security Corp., which has offered to acquire security company G4S plc (GFSZY.PK,GFS.L), Thursday said that competition regulators in Canada and the United States have cleared the way for the combination of GardaWorld and G4S to proceed.

The regulators allowed the relevant waiting periods to expire without requiring any further investigation or consequent remedial action.

As part of GardaWorld’s takeover offer, through its unit Fleming Capital Securities, Inc., GardaWorld submitted filings with a number of competition regulators around the world.

GardaWorld said it has enjoyed constructive and positive discussions with regulatory authorities.

GardaWorld’s board has long believed that a combination with G4S creates a significant global business with the ability to challenge larger market participants.

In late October, G4S’ Board unanimously rejected a 190 pence per share takeover offer by GardaWorld, calling it inadequate. The Board also urged its shareholders to reject the offer noting that the timing of the offer is highly opportunistic and significantly undervalues the business.

It was on September 30 that GardaWorld & BC Partners made the unsolicited offer. However, G4S issued statements earlier, continuously rejecting the offer.

Biotech Stocks Facing FDA Decision In November 2020

It’s more than 7.5 months since the World Health Organization declared COVID-19 a pandemic. The number of confirmed coronavirus cases worldwide has surpassed 42.5 million as of this writing. The U.S. tops the list with 8.57 million cases and over 224,000 deaths.

A total of 283 tests for COVID-19 have been authorized by FDA under the Emergency Use Authorization and these include 221 molecular tests, 56 antibody tests, and 6 antigen tests.

On October 22, the FDA approved Gilead’s (GILD) Veklury (remdesivir), the first drug for use in adult and pediatric patients 12 years of age and older and weighing at least 40 kilograms (about 88 pounds) for the treatment of COVID-19 requiring hospitalization.

Another notable first to be achieved on the regulatory front is the approval of Regeneron Pharmaceuticals’ (REGN) Inmazeb, the first FDA-approved treatment for Ebola virus infection in adult and pediatric patients, on October 14.

The month also saw the first drug regimen approved for mesothelioma in 16 years when the drug combination of Opdivo and Yervoy was greenlighted by the FDA on October 2 for the first-line treatment of adults with malignant pleural mesothelioma that cannot be removed by surgery.

Let’s take a look at the companies that await a ruling from the FDA in November.

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