DARMSTADT, Germany - Wednesday, 26. October 2022
Company’s scientific leadership will be highlighted in 39 abstracts presented across its multiple sclerosis (MS) portfolio
Data on investigational BTK inhibitor evobrutinib demonstrate long-term disease stability in people living with relapsing MS (RMS)
Phase IV study highlights improvement in measures of Quality of Life in people living with RMS after two years of treatment with MAVENCLAD® (cladribine tablets)
Not intended for UK and U.S. based media
(BUSINESS WIRE) -- Merck, a leading science and technology company, today announced it will present 39 abstracts at the 38th Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS), being held October 26-28, 2022 in Amsterdam, the Netherlands. The breadth of data highlights the Company’s scientific leadership in multiple sclerosis (MS) and includes a presentation on a clinical trial with long-term data on Expanded Disability Status Scale (EDSS) scores in people with relapsing MS (RMS) treated with evobrutinib, an investigational agent, as well as new data demonstrating MAVENCLAD® (cladribine tablets) improved Quality of Life (QoL) in people with highly active RMS over two years. Additionally, a two-year follow-up study showed the onset of action on the reduction of MRI lesions with MAVENCLAD being maintained from Month 2 through two years.
“Multiple sclerosis has a profound impact on quality of life and improving this through therapy is often the most important outcome for people living with MS,” said Gavin Giovannoni, Professor of Neurology, Queen Mary University of London. “The data presented at ECTRIMS further substantiate the therapeutic benefit of MAVENCLAD by improving Quality of Life measures over two years, combined with new evidence that the early effect on MRI lesions is maintained over that period.”
In the final analysis of the open-label, single-arm, multicenter, Phase IV CLARIFY-MS study, statistically significant (p≤0.0001) improvements from baseline were observed for Multiple Sclerosis Quality of Life-54 (MSQoL-54) physical and mental health composite scores (mean changes of 4.86 and 4.80, respectively; p<0.0001). Changes in MSQoL-54 composite scores were consistent across treatment naïve and prior disease-modifying treatment (DMT) subgroups. Annualized relapse rate was 0.13 in all patients (0.08 in patients who had not received DMT prior to receiving MAVENCLAD) and median EDSS was unchanged over two years. No new safety concerns emerged.
Also to be presented are new MRI outcomes data from the Phase IV MAGNIFY-MS study, which demonstrated an onset of action from Month 2 with sustained reduction in MRI lesion counts maintained out to two years in people with highly active RMS treated with MAVENCLAD. The proportion of lesion-free patients increased from 47% at baseline to 86.2% at the end of the study (Month 18–24). In the study, MRI lesions at baseline were compared over multiple time periods, from initial screening to Month 24. Over the two years, the benefit:risk profile of MAVENCLAD remained unchanged and in line with observations made during the clinical trial program.
Additionally, updated post-approval safety data will be presented based on an analysis of 56,300 patients who received MAVENCLAD post-approval, representing 95,664 patient-years of experience, as of July 2022. The study found the safety profile of MAVENCLAD is consistent with findings from the clinical development program and the CLARIFY-MS and MAGNIFY-MS studies.
“The breadth of our data at ECTRIMS exemplifies our commitment to pushing forward scientific innovation with the development of evobrutinib, while generating new, meaningful data to demonstrate the safety profile and effectiveness of MAVENCLAD,” said Jan Klatt, Senior Vice President, Head of Development Unit Neurology & Immunology at Merck. “Our goal is to ensure people living with MS, and those who treat them, have the information they need to manage their MS today and in the future.”
Beyond the MAVENCLAD and evobrutinib data presented, Merck will have several Company events, along with additional data from its MS portfolio at ECTRIMS 2022.
Company activities at ECTRIMS 2022:
“Connecting the dots: immune cells and CNS inflammation” co-chaired by Professor Gavin Giovannoni, MBBCh, PhD, FCP (Neurol., SA), FRCP, FRCPath, Blizard Institute, Barts and the London School of Medicine and Dentistry, UK, and Celia Oreja-Guevara, MD, PhD, Hospital Clínico San Carlos, Madrid, Spain (October 26, 2022, 13:15-14:15 CEST)
“New tools for new challenges in multiple sclerosis” chaired by Stephen Krieger, MD, Mount Sinai Hospital, New York, NY, USA (October 28, 2022, 14:15-15:15 CEST)
Product Theater: Early Experience with MAVENCLAD by Ravi Dukkipati, MD, WellSpan Neurology, York, PA, USA
To keep up to date with our activities at ECTRIMS along with future data and information, visit merckneurology.com/newsroom or follow us on Twitter @MerckHealthcare and LinkedIn: Healthcare Business of Merck
Below is the full list of Merck-related abstracts accepted for presentation at ECTRIMS 2022:
Abstract Name
Authors
ID
Presentation Details
MAVENCLAD Poster Presentations
Improvements in Quality of Life Over 2 Years in Patients Treated With Cladribine Tablets for Highly Active Relapsing Multiple Sclerosis: Final Analysis of CLARIFY-MS
Solari A, Montalban X, Lechner-Scott J, Piehl F, Brochet B, Langdon D, Hupperts R, Selmaj K, Havrdova EK, Patti F, Brieva L, Maida EM, Alexandri N, Smyk A, Nolting A, Keller B, on behalf of the CLARIFY Investigators
P108
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Jeannette Lechner-Scott
Early Onset of Action and Sustained Efficacy of MRI Outcomes during Cladribine Tablets Treatment in Highly Active Relapsing Multiple Sclerosis: Results of the 2-year MAGNIFY-MS Study
De Stefano N, Achiron A, Barkhof F, Chan A, Derfuss T, Hodgkinson S, Leocani L, Montalban X, Prat A, Schmierer K, Sellebjerg F, Vermersch P, Wiendl H, Keller B, Smyk A, Gardner L
P717
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Nicola De Stefano
Updated Post-Approval Safety of Cladribine Tablets in the Treatment of Multiple Sclerosis, With Particular Reference to Liver Safety
Giovannoni G, Leist T, Jack D, Galazka A, Nolting A
P341
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Gavin Giovannoni
High Adherence and Minimal Delays of Year 2 Treatment in People with Multiple Sclerosis Treated with Cladribine Tablets: Results from Multi-Country Patient Support Programmes
Oh J, Ayer M, Alroughani R, Lemieux C, Morgan K, D’Eramo M, Vella T, Boshra A, de Souza S, Verdun di Cantogno E, Sabidó M
P727
Session: 2
Date: October 27, 2022
Time: 17:00 CEST
Presenter: Jiwon Oh
Treatment Emergent Adverse Events Experienced Early and Transiently in the Treatment Course with Cladribine Tablets: Data from the CLEVER Real-World Study
Ziemssen T, Posevitz-Fejfar, Wagner T, Übler S, Richter J, Müller B, Penner I-K
P772
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Talf Ziemssen
Maven4: Phase IV Non-Interventional, Prospective, Spanish Multicenter Study to Evaluate Cladribine Tablets Long Term Effectiveness on Real-World Clinical Practice
Saiz A, Aladro Benito Y, Costa-Frossard F, Sánchez Magro I, Rodríguez Antigüedad A
P774
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Albert Saiz
Cladribine Protects SH-SY5Y Neuron-Like Cells from Oxidative Stress Conditions In Vitro
Eixarch H, Calvo-Barreiro L, Fissolo N, Boschert U, Comabella M, Montalban X, Espejo C
P784
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Herena Eixarch
Real-World Use of Cladribine Tablets (Completion Rates and Treatment Persistence) in Patients With Multiple Sclerosis in England: The CLARENCE Study
Brownlee W, Amin A, Herbert A, Ashton L
P762
Session: 2
Date: October 27, 2022
Time: 17:00 CEST
Presenter: Wallace Brownlee
Decision-making Factors in Patient Choice to Initiate Treatment with Cladribine: A Preliminary Baseline Analysis From the STATURE Study
Allan M, Grech L, Cartwright A, Harding J, Mardan J, O’Maley J, Savickas S, Sharma M, Murambiwa P, Stockle P, Bardsley B, Butler E
P304
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Michelle Allan
Assessment of Treatment Satisfaction Across Oral DMTs for Multiple Sclerosis: a Preliminary Baseline Analysis from the STATURE Study.
Grech L, Allan M, Cartwright A, Harding J, Mardan J, O’Maley T, Savickas S, Sharma M, Murambiwa P, Stockle P, Bardsley B, Butler E
EP1086
Session: ePoster
Date: October 26-28, 2022
A Real-World Study of Four-Year Follow Up Study of Patients Treated with Oral Cladribine From 2018-2022
O’Neill DTD, Sharma M, Dong G, Hodgkinson SJ
EP1132
Session: ePoster
Date: October 26-28, 2022
A Study of Activated and Naïve T Regs and B Cell Subsets For 30 Months After the Use of Cladribine
Hodgkinson SJ, O’Neill DTD, Sharma M, Dong G, Verma ND, Al-atiyah R, Hall BM
P704
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Suzanna Hodgkinson
CLADCOMS - CLADribine Tablets Long-Term Control of MS – a Post-Marketing Investigator Driven Study
Fink K, Nilsson P, Alonso L, Sveningsson A, Gunnarsson M, Lange N, Ayad A, Vrethem M, Burman J, Lycke J, Piehl F
EP1060
Session: ePoster
Date: October 26-28, 2022
Clinical Effectiveness and Safety of Cladribine Tablets for Patients Treated at least 12 Months in the Swedish Post-Market Surveillance Study “Immunomodulation and Multiple Sclerosis Epidemiology 10” (IMSE 10)
Rosengren V, Ekström E, Forsberg L, Hillert J, Nilsson P, Dahle C, Svenningsson A, Lycke J, Landtblom A-M, Burman J, Martin C, Sundström, Gunnarsson M, Piehl F, Olsson T
P728
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Linda Forsberg
SARS-CoV2 Exposure Rates and Serological Response of People Living With MS
Longinetti E, Asplund K, Kockum I, Englund S, Burman J, Fink K, Fogdell-Hahn A, Gunnarsson M, Hillert J, Langer-Gould A, Lycke J, Nilsson P, Salzer J, Svenningsson A, Mellergård J, Frisell T, Olsson T, Piehl F
P558
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Elisa Longinetti
COVID-19 Humoral and T-cell Mediated Vaccination Responses in People with Multiple Sclerosis
Vickaryous N, Rios F, Schalk L, Asardag AN, George K, Kang A, Baker D, Giovannoni G, Dobson R
P781
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Nikki Vickaryous
Differences Between Clinical Trials and “Real-World” Use of Disease Modifying Therapies: Insights from the UK OPTIMISE:MS Pharmacovigilance Study
Dobson R, Matthews P, Miller A, Pindoria J, Waddingham E
P763
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Ruth Dobson
Cladribine Treatment Exerts Specific Effects on Memory B Cell Immunoglobulin Repertoires in Multiple Sclerosis Patients
Ruschil C, Gabernet G, Kemmerer CL, Ziemann U, Nahnsen S, Kowarik MC
EP1115
Session: ePoster
Date: October 26-28, 2022
Presenter: Christoph Ruschil
Cladribine Effects on T and B Cell Subsets and T Cell Reactivity in Multiple Sclerosis
Hansen RH, von Essen MR, Mahler MR, Cobanovic S, Binko TS, Sellebjerg F
P697
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Rikke Holm Hansen
Safety and Efficacy of Cladribine Therapy Following a Treatment with Anti-CD20 Compounds in Relapsing Multiple Sclerosis Patients: A Pilot Study
Sacco R, Disanto G, Pravatà E, Gobbi C, Zecca C
EP1068
Session: ePoster
Date: October 26-28, 2022
Evobrutinib Poster Presentations
Evobrutinib, a Bruton’s Tyrosine Kinase Inhibitor, Maintains Lowered Serum Neurofilament Light Chain Levels Over 2.5 Years of Treatment, in Patients With Relapsing Multiple Sclerosis
Kuhle J, Kappos L, Montalban X, Benkert P, Li Y, Thangavelu K, Hyvert Y, Tomic D
EP1021
Session: ePoster
Date: October 26-28, 2022
Presenter: Jens Kuhle
MRI and Clinical Outcomes of Evobrutinib, a Bruton’s Tyrosine Kinase Inhibitor, in Relapsing Multiple Sclerosis Over 2.5 Years of the Open-label Extension to a Phase II Trial
Vermersch P, Arnold D, Wolinsky JS, Havrdova E, Kinkolykh A, Hyvert Y, Tomic D, Montalban X
P731
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Patrick Vermersch
Evobrutinib Exert a Therapeutic Action on EAE by Increasing the Peripheral and Central Classical Dendritic Cell Number and Maturation
Serrano-Regal MP, Calahorra L, Alonso-García I, Grenningloh R, Boschert U, Haselmayer P, Ortega MC, Machín-Díaz I, Camacho-Toledano C, García-Arocha J, Clemente D
P307
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Mari Paz Serrano-Regal
Evobrutinib, a Bruton’s Tyrosine Kinase Inhibitor, Acts on Microglia: Implications in the Treatment of Progressive Mechanisms in Multiple Sclerosis
Geladaris A, Torke S, Grenningloh R, Boschert U, Brück W, Weber MS
P693
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Anastasia Geladaris
B cells infiltrating the MS brain: from local maturation to targeting by evobrutinib
Bogers L, van Langelaar J, Rijvers L, Engelenburg HJ, Melief M-J, Wierenga-Wolf AF, Rip J, Blok KM, de Vries HE, Hendriks RW, Boschert U, Smolders J, van Luijn MM
P147
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Laurens Bogers
Immune response following mRNA COVID-19 vaccination in patients with multiple sclerosis treated with the Bruton’s tyrosine kinase inhibitor evobrutinib
Bar-Or A, Cross AH, Cunningham A, Hyvert Y, Seitzinger A, Drouin EE, Alexandri N, Tomic D, Montalban X
P1188
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Amit Bar-Or
Rebif® (interferon beta-1a) Subcutaneous Injection Poster Presentations
Exploring the Relationship Between Serum GDF-15 and Disease Stability in Patients with a First Clinical Demyelinating Event Treated with Subcutaneous Interferon β-1a or Placebo in the REFLEX Study
Coray M, Freedman MS, Barkhof F, Comi G, De Stefano N, Kappos L, Enz L, Seitzinger A, Jack D, Kuhle J, Mehling M
EP1027
Session: ePoster
Date: October 26-28, 2022
Presenter: Mali Coray
Evolution of the RebiSmart® Autoinjector Device in Support of Adherence to Subcutaneous Interferon Beta-1a Therapy for Relapsing Multiple Sclerosis
Arnaud L, Keiser M, Henninger E, Piras F, Seitzinger A, Jack D, Le Masne Q
EP1079
Session: ePoster
Date: October 26-28, 2022
Presenter: Dominic Jack
Validation of a Semi-Automated Method to Quantify Lesion Volume Changes in Multiple Sclerosis on 2D Proton Density- Weighted Images Using Subtraction Imaging
Mattiesing RM, Stel S, Mangroe AS, Brouwer I, Versteeg A, van Schijndel RA, Uitdehaag BMJ, Barkhof F, Vrenken H
P634
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Rozemarijn M Mattiesing
Expression of peripheral blood IFN-inducible genes predicts treatment outcome in patients with secondary progressive multiple sclerosis treated with IFN-beta-1a
Gurevich M, Zilkha-Falb R, Menascu S, Magalashvili D, Dolev M, Sonis P, Mandel M, Achiron A
P353
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Michael Gurevich
Non-Product Specific Poster Presentations
DISCOntinuation of disease-modifying therapies in MS (DISCOMS) Extension – Study Design and Baseline Demographics to Date
Engebretson E, Cutter G, Fox R, Kister I, Miller A, Morgan C, Seale R, Corboy JR
EP1089
Session: ePoster
Date: October 26-28, 2022
Expert Opinion on the Use of Contraception in People with Multiple Sclerosis
Hillert J, Bove R, Haddad L, Hellwig K, Houtchens M, Magyari M, Mercki G, Montgomery S, Nappi R, Stenager E, Thompson H, Tulek Z, Verdun di Cantogno E, Simoni M
P080
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Jan Hillert
Single-Cell RNA Sequencing of Peripheral CD8+ T Cells of MS-Discordant Monozygotic Twins Reveals Disease-Associated Alterations In Immune Signaling
Kavaka V, Mutschler L, Eglseer K, Flierl-Hecht A, Kümpfel T, Hohlfeld R, Kerschensteiner M, Gerdes L.A, Beltran E
P159
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Vladyslav Kavaka
Caregiver Burden and Associated Factors Among Caregivers of
Persons with Multiple Sclerosis: Application of a Specific Instrument
Vanotti S, Roman MS, Ferrandina F, Bauer J, Rosa R, Casas Parera I, Saladino ML, Caceres F
EP0864
Session: ePoster
Date: October 26-28, 2022
Presenter: Sandra Vannoti
Evolutionarily Conserved Signatures of Microglia in Health and Disease
Salinas V, Manouchehri N, Hussain R, Stuve O
P131
Session: 1
Date: October 26, 2022
Time: 16:30- 18:30 CEST
Presenter: Victor Salinas
Peripheral Blood Immune Markers Associated With Immunosenescence in Multiple Sclerosis and Healthy Controls
Carpentier Solorio Y, Daigneault A, Tastet O, Clénet M-L, Farzam-kia N, Levert A, Da Cal S, Clément W, Jamann H, Laurent C, Mamane VH, Ouedraogo O, Moratalla AC, Balthazard R, Lahav B, Prat A, Girard J-M, Duquette P, Rousseau M-C, Arbour N, Larochelle C
P545
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Catherine Larochelle
Chemerin Correlates with MS Progression Parameters and Affects Intracellular Metabolism in Human Microglia and Macrophages
Loonstra FC, van der Pol SM, Falize KF, van Heertum T, de Ruiter LR, Schoonheim MM, Killestein J, Uitdehaag BMJ, Kooij G, de Vries HE, Rijnsburger M
P551
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Presenter: Merel Rijnsburger
Amyloid and some tau Proteinopathy are Observed in a Subset of Individuals with Multiple Sclerosis
Taga M, Duquesne L, Lee A, Sigalov A, Peralta Cruz F, De Jager P
P1204
Session: 2
Date: October 27, 2022
Time: 17:00- 19:00 CEST
Non-Product Specific Oral Presentations
Biological Roles of Myeloid Cell Subsets During CNS Inflammation
Manouchehri N, Victor, Hussain RZ, Stuve O
O124
Session: Young Scientific Investigators' Session 3: Long-term outcomes and safety
Date: October 27, 2022
Time: 15:00- 16:00 CEST
Presenter: Navid Manouchehri
About Evobrutinib
Evobrutinib is an oral, highly selective CNS-penetrant inhibitor of Bruton’s tyrosine kinase (BTK) in clinical development as a potential treatment for relapsing multiple sclerosis (RMS). It is the first BTK inhibitor to demonstrate clinical efficacy in the largest Phase II study with follow-up beyond three years as well as demonstrate an impact on early biomarkers of ongoing central inflammation that correlate with disease progression. Evobrutinib is designed to modulate B cell responses such as proliferation and antibody and cytokine release, as well as modulate macrophage/microglia activation. It significantly reduced SEL volume and levels of blood NfL, markers of ongoing central inflammation and neurodegeneration that predict long-term disability. Evobrutinib was optimized for efficacy through the most comprehensive BTK inhibitor dose-finding study in RMS which demonstrated 75mg twice-daily dosing achieves maximal efficacy across endpoints by sustaining BTK inhibition throughout the dosing interval (>95% BTK occupancy maintained in 98% of patients before next dose). It is currently under clinical investigation and is not approved for any use anywhere in the world.
About MAVENCLAD®
MAVENCLAD, approved by the U.S. Food and Drug Administration (FDA) on March 29, 2019, is the first and only short-course oral therapy for the treatment of adults with relapsing-remitting disease (RRMS) and active secondary progressive disease (SPMS). Because of its safety profile, use of MAVENCLAD is generally recommended for patients who have had an inadequate response to, or are unable to tolerate, an alternate drug indicated for the treatment of multiple sclerosis (MS), and MAVENCLAD is not recommended for use in patients with clinically isolated syndrome (CIS). Patients should follow healthcare provider instructions including cancer screening, contraception and blood tests. The approved dose of MAVENCLAD is 3.5 mg per kg body weight over two years, administered as one treatment course of 1.75 mg per kg per year, each consisting of two treatment weeks. The mechanism by which cladribine exerts its therapeutic effects in patients with multiple sclerosis has not been fully elucidated but is thought to involve cytotoxic effects on B and T lymphocytes through impairment of DNA synthesis, resulting in depletion of lymphocytes. MAVENCLAD causes a dose-dependent reduction in lymphocyte counts followed by recovery.
Because cladribine is cytotoxic, special handling and disposal instructions should be followed.
MAVENCLAD has been approved in over 80 countries, including the European Union (EU), Canada, Australia and Switzerland, for various relapsing MS indications. Visit www.MAVENCLAD.com for more information.
About Rebif®
Rebif (interferon beta-1a) is indicated for the treatment of relapsing forms of multiple sclerosis (MS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. It is used to decrease the frequency of relapses and delay the occurrence of some of the physical disability that is common in people with MS.
About Multiple Sclerosis
Multiple sclerosis (MS) is a chronic, inflammatory condition of the central nervous system and is the most common non-traumatic, disabling neurological disease in young adults. It is estimated that approximately 2.8 million people have MS worldwide. While symptoms can vary, the most common symptoms of MS include blurred vision, numbness or tingling in the limbs and problems with strength and coordination. The relapsing forms of MS are the most common.
Merck in Neurology and Immunology
Merck has a long-standing legacy in neurology and immunology, with significant R&D and commercial experience in multiple sclerosis (MS). The company’s current MS portfolio includes two products for the treatment of relapsing MS – Rebif® (interferon beta-1a) and MAVENCLAD® (cladribine tablets). Merck aims to improve the lives of patients by addressing areas of unmet medical needs. In addition to Merck’s commitment to MS, the company also has a pipeline focusing on discovering new therapies that have potential in other neuroinflammatory and immune-mediated diseases, including systemic lupus erythematosus (SLE), generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD).
All Merck press releases are distributed by e-mail at the same time they become available on the EMD Group website. Please go to www.merckgroup.com/subscribe to register for your online, change your selection or discontinue this service.
About Merck
Merck, a leading science and technology company, operates across life science, healthcare and electronics. Around 60,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2021, Merck generated sales of € 19.7 billion in 66 countries.
Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Electronics.
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Contacts
geoffrey.vokes@merckgroup.com
+31 (0)6 51 42 10 99
Sunday, October 30, 2022
Merck Showcases Depth of MS Portfolio at ECTRIMS Supporting Commitment to Advancing MS Care
Saturday, October 29, 2022
Napier Introduces Advanced Financial Crime Risk Management Platform, Napier Continuum
Next-generation SaaS platform launched to help financial institutions easily gain a dynamic view of financial crime risk, furthering Napier’s mission to empower compliance teams.
(BUSINESS WIRE)--Napier, provider of leading anti-money laundering and compliance technology, today launched a new advanced financial crime risk management platform that offers high levels of automation whilst improving the efficiency and accuracy of financial crime compliance programs for regulated organisations of all maturity levels.
Napier is reinventing financial crime risk management (FCRM) technology with its highly scalable and flexible platform, Napier Continuum. It is set to be the first end-to-end AI-enhanced platform that is purpose-built for modern financial markets by optimising current risk operations while seamlessly scaling as organisations manage new, unknown future risks.
With advanced AI and automation embedded throughout the platform, underpinned by low-code/no-code rules and sandbox environments, organisations can respond to evolving threats and regulations with faster decision making and improved accuracy in investigations.
Built on next-generation technologies, Napier Continuum provides a dynamic and holistic view of financial crime risks while improving operational efficiencies and decreasing total cost of ownership. Continuum enables access to the full suite of Napier’s financial crime compliance products, including Perpetual Client Risk Assessment (p)CRA, Transaction Monitoring, Screening, and Risk Assessment tools, with full STP to third-party and proprietary applications such as AML, KYC, Fraud, and CRM systems.
Will Monk, Napier’s Chief Product Officer whose 20 years’ experience gained from the likes of NatWest, HSBC, and Barclays has helped shape the platform, said, “By understanding the key struggles financial institutions have in streamlining financial crime compliance operations, we’ve invested in a unifying AI-enhanced solution with exceptional levels of automation to help spot suspicious behaviour more effectively and support oversight of compliance risk throughout the entire customer lifecycle.”
The flexibility of Napier Continuum is unique within the industry. There is no need to ‘rip and replace’ existing solutions, as customers will have the option to deploy Napier Continuum as an end-to-end platform, point solution, or as an aggregation layer to complement existing systems. Napier Continuum can also be deployed to any cloud environment as a fully managed SaaS, or on premise to a client’s specifications.
Napier Continuum also delivers new, exceptional ongoing risk assessment capabilities through (p)CRA, its dynamic risk assessment suite, which enables an automated continuous review of all risk factors across the client lifecycle.
“Criminals continually adapt their methods in response to technological innovations, but financial crime risk management solutions have been slow to catch up,” said Greg Watson, CEO at Napier. “That’s why we are incredibly proud to launch Napier Continuum. With features like (p)CRA and high levels of automation, it is a superior solution that organisations can tailor to their business and regulatory requirements while intercepting evolving financial crime threats.”
END
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Contacts
John Sullivan
napier@contextpr.co.uk
+44(0)300-124-6100
An invitation to EXplore ALgeria Today,
Abu Dhabi Nov 2022, during ADIPEC 2022 edition, the Algerian national agency for the valorization of hydrocarbon resources "ALNAFT" has launched EXALT, a fully integrated digital platform developed by SLB, enabling seamless global access, anytime, anywhere, to the entire Algerian subsurface data and “evergreening” products.
An unprecedented opportunity, in the history of Algeria's energy market, for investors to explore new plays, prospects, and evaluate the national hydrocarbon domain potential. Demonstrating the value of the national upstream opportunities and promote the Algerian’s hydrocarbon resources worldwide, inclusive but not limited to the future regular licensing rounds.
Attracting foreign direct investments
The cutting-edge technological platform developed by SLB, is being deployed in conjunction with the newly promulgated Hydrocarbon 19-13 law, governing the hydrocarbon activities. The new law aims to develop the institutional framework and introduce a simplified and competitive tax regime in order to promote foreign partnership in the sector.
The new measures and associated flexibility promote sustainable and optimal development and exploitation of the national hydrocarbon resources, in order to meet the needs of both the national and international energy market while promoting the preservation and protection of the environment.
Rich history
Algeria has a long history of oil and gas exploration and production (E&P) activities that date back to the 1950’s. Such activities have yielded a vast amount of E&P digitized data, representing one of the key competitive attributes of the country's oil and gas industry; the “National Database Repository (NDR)”.
Since then, Algeria has been developing and increasing its reserves through its National Oil Company Sonatrach and Joint Ventures with international oil companies and investors.
In terms of potential reserves, Algeria has the tenth largest proven natural gas reserves globally with the third largest unconventional gas reserves, it also holds 12 billion barrels of proven oil reserves, ranking 16th worldwide. A potential enabled by very high export capacities, from offloading infrastructure for oil and LNG to a dense pipelines network for both Oil & Gas transport.
According to a recent declaration of ALNAFT leadership: “60% of the hydrocarbon potential in Algeria is under or non-exploited and requires development”.
During ADIPEC 2022, ALNAFT invites all investors and oil and gas operators to visit the Algeria pavilion, in order to experience and explore countless investment opportunities in the country’s vibrant national upstream sector.
An invitation to EXALT and Explore Algeria Today.
About :
ALNAFT :
ALNAFT is the National Agency for the Valorization of Hydrocarbon Resources "ALNAFT". It created under the provisions of article 12 of the Algerian law n ° 05-07 of April 28, 2005 relating to hydrocarbons to promote investments in the research and exploitation of hydrocarbons in the national mining domain and evaluate the mining sector relating to upstream activities, in particular by carrying out basin studies and acquiring data.
SLB
“We are a global technology company, driving energy innovation, for a balanced planet.
Friday, October 28, 2022
Zoop Secures $15M+ in Backing and Formalizes Partnership with Ready Player Me Ahead of Global Platform Launch on Hedera
NEW YORK - Friday, 28. October 2022 AETOSWire
(BUSINESS WIRE)--Zoop, the digital celebrity collectibles trading platform created by RJ Phillips and Tim Stokely, alongside other key team members responsible for turning Onlyfans into a billion-dollar unicorn, today announces new support and two strategic partnerships in advance of its highly anticipated global launch. On the back of an oversubscribed seed round, Zoop has secured $15M in grants and investments. Additionally, Ready Player Me, the leading platform for cross-game avatars, is partnering with Zoop to provide interoperability between Zoop’s avatars and compatible games and apps and to support secure transactions and processing, Zoop is on enterprise-grade public ledger Hedera. Together, these partnerships will provide additional functionality and utility for one of the most closely watched launches in all of web3.
“With over a decade of experience in community-building, it has always been clear to us that today’s most engaged, active communities are built online,” said RJ Phillips, co-CEO of Zoop. “The advent of web3 has only served to further those connections, and we can now use the digital world to bridge the physical and create real-life experiences. We are grateful for the support of our partners at the HBAR Foundation and Ready Player Me to help us realize our ultimate goal of fostering connection and creating immersive experiences between fans and their favorite celebrities.”
“The blockchain gamification market continues to grow rapidly, reflecting a clear desire for immersive, gamified experiences from consumers,” said Tim Stokely, co-CEO of Zoop. “This presents a significant opportunity for Zoop to reimagine how the world’s biggest celebrities are connecting with their fans and transcending the one-sided social media engagements of the past. With the support of The HBAR Foundation and Ready Player Me, Zoop will be able to offer an experience that is engaging, immersive, and, above all, easy for anyone to access; no prior knowledge of web3 or metaverse is needed.
Zoop’s global launch will usher in a new era of interaction and allow users to access the benefits of Web3 without any of the baggage. No strangers to the business of connection, Phillips and Stokely leveraged their experience in the social space and knowledge of fan and celebrity connection to new levels with the launch of the first digital celebrity collectibles trading platform. Users can simply access the Zoop dashboard to buy, swap and sell collectibles. Participation in the Zoop ecosystem and playing in-platform games can unlock exclusive access to content and communities. For celebrities, the value is twofold: the seamless, direct connection established with fans and the talent on the platform receives 70% of revenue from all sales generated through Zoop.
Ready Player Me has also signed on as a strategic partner to support these efforts, bringing its industry-leading interoperability functions to the Zoop platform. Celebrity avatars, the cornerstone of Zoop’s collectibles platform, can be used by fans in 4K+ supported apps and games across multiple metaverses and beyond. As the partnership evolves, game developers will also be rewarded for the time users spend on their games.
“The clear synergy between Ready Player Me and Zoop’s offering and audiences made it an easy decision to partner,” said Timmu Toke, Co-Founder and CEO of Ready Player Me. “We are excited to work with Zoop and can’t wait to see what we will build together.”
To support Zoop’s rapid growth and global launch, Zoop, which is built on Hedera, the leading public ledger for secure transactions. Hedera is renowned for its combined speed and performance, low network fees, and sustainability practices, including a negative carbon emissions policy, that is setting the tone for the entire industry. Network governance is provided by a diverse global body consisting of some of the world’s largest organizations. Through the Hedera network, Zoop platform users will be able to purchase, trade, exchange, and sell digital celebrity collectibles with exceptional speed, traceability, and transparency.
“In a fast-growing space that is rapidly evolving to meet consumer needs, Zoop stands apart from other platforms for its ambitions to truly disrupt the web3 space and lower the barrier to entry for fans everywhere,” said Shayne Higdon, CEO of the HBAR Foundation, the leading independent organization supporting the growth of the Hedera ecosystem. “Led by one of the most experienced teams in this space with a proven track record of scaling rapidly and creating a global business on the basis of connection, we are thrilled to partner with Zoop as they prepare to launch next month.”
About Zoop
Zoop is building an entire ecosystem based on officially licensed celebrity digital trading cards. Fans are easily able to buy, sell, trade, and collect the celebrities and influencers they idolize and admire through cutting-edge blockchain technology. On Zoop, fans can build out their card collections and earn fan rewards with exclusive celebrity experiences while forging communities of like-minded collectors. Zoop cards garner authenticity through official partnerships with an unrivaled roster of celebrities and brands onboard. To learn more visit www.zoopcards.com.
Website | Twitter | Telegram | LinkedIn | Discord | Instagram | Facebook | Support Twitter | Medium
About the HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org
About Ready Player Me
Readyplayer.me is a cross-game avatar platform for the metaverse. They give users an interoperable virtual avatar that travels across 4,000+ games and apps. For developers they’re an easy-to-integrate avatar system that helps them stay focused on building their game. Ready Player Me has raised $72m from a16z and others.
DISCLAIMER: Except where otherwise noted, the information contained in this release is as of October 27th, 2022. We assume no obligation to update any forward-looking statements contained in this release as a result of new information or future events or developments. We cannot guarantee that any forward-looking statement will be realized. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers are cautioned not to put undue reliance on forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005231/en/
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Contacts
Zoop
Media:
Eef Vicca
zoop@factorypr.com
HBAR Foundation
Media:
hedera@wachsman.com
Ready Player Me
Media:
Molly Gagnon
molly@virgo-pr.com
Partners In Health Announces $25 Million Pledge from Weiss Asset Management Foundation and Associated Donors to Support Institute of Global Health Equity Research in Rwanda
BOSTON
Multi-year commitment will enable investments in medical research and training at University of Global Health Equity in Rwanda
Financial support provided along with two anonymous donors
(BUSINESS WIRE) -- Partners In Health announced today a $25 million pledge from the Weiss Asset Management Foundation and associated donors to the Institute of Global Health Equity Research (IGHER) at the University of Global Health Equity (UGHE), an initiative of Partners In Health. This pledge, to be funded over the next 25 years, will provide critical resources and training to facilitate and advance research addressing vital health needs in low-income countries.
IGHER seeks to bring together leading global health experts, medical researchers, and students to provide the human and physical infrastructure for previously under-resourced initiatives. These initiatives include conducting clinical trials, building biobanks and other repositories for medical research, promoting innovations in the digital provision of medical services, and providing the flexibility to adapt to other needs as they arise.
“We are very grateful to the Weiss Asset Management Foundation and its partners for their generous long-term commitment to the Institute,” said IGHER Director Dr. Cristina Stefan. “It will enable critical investments that will help establish IGHER as a hub for clinical trials, African healthcare research, and cutting-edge medical and genomic advancements for populations underserved by modern medicine.”
“IGHER at the University of Global Health Equity is an incredible initiative that will leverage the impactful care delivery work happening every day across PIH sites,” said Partners In Health Chief Executive Officer Dr. Sheila Davis. “We're grateful to the Weiss Asset Management Foundation for supporting IGHER in this particularly critical time, as we face increased global crises that call for more targeted and expansive research for low-income countries who have borne, and will continue to bear, the burden disproportionately.”
“Throughout my years of non-profit work in developing countries, I have seen firsthand the immediate positive impact of well-designed health interventions on the health of people in under-resourced settings. But over the long run the greatest impact will come from research that results in interventions which address the root causes of morbidity and mortality in low-income countries,” said Andrew Weiss, Director of the Weiss Asset Management Foundation. “Together with the Foundation’s funding partners, we are exploring collaborations between the Institute, Mass General Brigham, and other leading institutions. We believe that great synergies can be achieved by facilitating interactions between leading researchers in Boston and the Institute in Rwanda.”
The Weiss Asset Management Foundation is hosting a launch event to introduce IGHER to the international community on Thursday, October 27 at the Loeb House at Harvard (17 Quincy St., Cambridge, MA). The event will begin at 2 p.m. with Nobel Prize Laureate Esther Duflo giving the keynote address. Dr. Jim Yong Kim, who served as the former president of the World Bank, and other distinguished speakers will also be addressing the audience. The livestream of the event can also be viewed by accessing this link: https://www.youtube.com/watch?v=fIDUDrA9bck.
* * * * *
About Partners In Health
Founded in Haiti in 1987, Partners In Health is a nonprofit social justice organization working to bring the benefits of modern medical science to those most in need. Some 30 years later, it has a documented history of implementing effective health delivery models in partnership with governments and academic institutions around the world, providing high-quality care to millions of patients. Learn more at www.pih.org.
About Weiss Asset Management Foundation
The Weiss Asset Management Foundation operates as the charitable arm of Weiss Asset Management (WAM). Its mission – achieved through funding and grants to organizations across the world – is to alleviate suffering. The Weiss Asset Management Foundation has made substantial grants to fund groundbreaking research on expanding access to vaccines in rural communities in Africa. In response to the COVID crisis, it provided oxygen concentrators to rural communities in India, and made up for a funding shortfall for an NGO that was an effective provider of primary health care in rural Nepal. WAM recently made a substantial financial commitment to the Foundation as part of its goal to increase the Foundation's impact. For more information about the Weiss Asset Management Foundation, visit www.weissasset.com/#_philanthropy.
About the University of Global Health Equity
The University of Global Health Equity (UGHE) is a health sciences university in Rwanda. An initiative of Partners In Health, UGHE is a private, not-for-profit, accredited institution. It was founded in 2014, thanks to the visionary leadership of the late Dr. Paul Farmer and the generous support of the Cummings Foundation and the Bill & Melinda Gates Foundation. Learn more at www.ughe.org.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005290/en/
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Contacts
For Partners In Health / UGHE
Eric Hansen at media@pih.org
For Weiss Asset Management Foundation
Katrina Allen at Katrina.Allen@edelmansmithfield.com
SYNLAB and Microba reinforce their combined expertise and expand strategic agreement on advanced gut microbiome test myBIOME
BRISBANE, Australia - Friday, 28. October 2022
Launched in Spain and Colombia in 2020, myBIOME is an innovative gut microbiome examination based on technology developed by Microba’s leading researchers in the field of microbiome analysis.
The combination of leading-edge comprehensive metagenomic sequencing and evidence- based reporting provides precise imaging of the gut microbiome.
myBIOME provides a comprehensive analysis of the composition of an individual’s gut microbiome and its functional potential to deliver personalized treatment or nutrition recommendations.
Consumers and healthcare professionals alike benefit from the comprehensive gut microbiome analysis that myBIOME provides to detect the cause of a broad range of health complaints.
SYNLAB and Microba are now extending the offering to wider distribution across Europe and Latin America.
(BUSINESS WIRE) -- SYNLAB, the leader in medical diagnostic services and specialty testing in Europe, and Microba Life Sciences (Microba), a global leader in the analysis of complex gut microbiomes, have expanded their strategic agreement to broaden geographic and market availability of the microbiome test myBIOME across Europe and Latin America.
Responding to the success on the Spanish and Colombian markets and the growing demand for personalised precision diagnostics, the test will be rolled out for further distribution via healthcare providers as well as direct-to-consumer channels.
“Imbalances in the gut microbiome composition, distribution and activity have a direct health impact and are associated with chronic illness including gastrointestinal, inflammatory, metabolic, neurological and cardiovascular conditions,” says Michael Morris, Head of Genetics at SYNLAB Switzerland. “myBIOME is the most complete and accurate metagenomic sequencing test available on the market today, allowing for a comprehensive, highly differentiated and actionable analysis of an individual’s gut microbiome.”
Through NGS (Next-Generation Sequencing), myBIOME analyses all the genetic material (DNA) in a stool sample, allowing a highly sensitive, high-resolution panel of the microorganisms that make it up.
Applying game-changing metagenomic technology developed by Microba, myBIOME detects all types of microorganisms (bacteria, archaea, fungi, protists), identifies the exact species and characterises new species. Based on the functional potential determined by analysing the microbial genes present, the test report delivers a personalised analysis and nutritional recommendations to improve patient health and quality of life.
“SYNLAB is committed to offering medical excellence around the globe and I am excited that now, more customers and patients will benefit from this reliable tool,” says Marta Llopis, myBIOME/ Microbiome Specialist at SYNLAB Group. “In many cases, myBIOME has pinpointed the origin of a variety of diffuse symptoms by linking them to a microbiome imbalance or for example an excessive presence of non-intestinal species. When found at high levels in the gut, these have been shown to cause disease.”
About SYNLAB
SYNLAB Group is the leader in medical diagnostic services and specialty testing in Europe. The Group offers a full range of innovative and reliable medical diagnostics to patients, practicing doctors, hospitals and clinics, governments and corporates. SYNLAB operates in 36 countries across four continents and holds leading positions in most markets, regularly reinforcing the strength of its network through a proven acquisition strategy. More than 30,000 employees, including over 2,000 medical experts, contribute to the Group’s success. SYNLAB performed around 600 million laboratory tests and achieved revenues of €3.76 billion in 2021.
More information on myBIOME can be found at www.mybiome.health
About Microba
Microba Life Sciences (ASX: MAP) is a precision microbiome company driven to improve human health. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005459/en/
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https://www.aetoswire.com/en/news/2810202228078
Contacts
SYNLAB
Diana Tabor, FTI Consulting media-contact@synlab.com
Microba
info@microba.com
SINOVAC to Showcase Products at CPHI Frankfurt
(BUSINESS WIRE)--Sinovac Biotech Ltd. (“SINOVAC” or the “Company”) (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, announced that the Company will participate in CPHI Frankfurt, one of the world’s largest pharmaceutical exhibitions, from 1st to 3rd of November, in Frankfurt, Germany.
At Booth#41G20, the first floor of Hall 4, Messe Frankfurt, SINOVAC will greet all visitors of CPHI and present its comprehensive portfolio. The Company will showcase the only inactivated COVID-19 vaccine approved for children as young as 6-months old, CoronaVac®; the quadrivalent influenza vaccine, QIV; the world-leading enterovirus type 71 vaccine, Inlive®; the varicella vaccine which provides 100% protection against moderate and severe cases; and two WHO prequalified vaccines: the hepatitis A vaccine, Healive® and the Sabin-strain inactivated polio vaccine.
Helen Yang, Chief Business Officer of SINOVAC said, “SINOVAC is an old friend of CPHI, and we are happy to finally return to CPHI’s in-person event for the first time since the outbreak of the COVID-19 pandemic globally. As always, we highly value the platform’s business potential, and plan to showcase many of our best products, especially those approved by the WHO and distributed to many countries around the world. We are eager to introduce our recent cutting-edge technologies to our global partners and to develop more business opportunities.”
To meet SINOVAC on site, you are welcome to visit Booth#41G20, or contact Alice Chen via info@sinovac.com to schedule appointments.
About SINOVAC
Sinovac Biotech Ltd., (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.
SINOVAC’s product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, seasonal influenza, pneumococcal disease, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella, mumps, poliomyelitis, etc.
The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine commercialized in China in 2016. In 2022, SINOVAC’s Sabin-strain inactivated polio vaccine (sIPV) was prequalified by the WHO.
SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.
SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.
For more information, please see the Company’s website at www.sinovac.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005130/en/
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https://www.aetoswire.com/en/news/2810202228080
Contacts
Sinovac Biotech Ltd.
PR Team
pr@sinovac.com
SINOVAC to Showcase Products at CPHI Frankfurt
(BUSINESS WIRE)--Sinovac Biotech Ltd. (“SINOVAC” or the “Company”) (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, announced that the Company will participate in CPHI Frankfurt, one of the world’s largest pharmaceutical exhibitions, from 1st to 3rd of November, in Frankfurt, Germany.
At Booth#41G20, the first floor of Hall 4, Messe Frankfurt, SINOVAC will greet all visitors of CPHI and present its comprehensive portfolio. The Company will showcase the only inactivated COVID-19 vaccine approved for children as young as 6-months old, CoronaVac®; the quadrivalent influenza vaccine, QIV; the world-leading enterovirus type 71 vaccine, Inlive®; the varicella vaccine which provides 100% protection against moderate and severe cases; and two WHO prequalified vaccines: the hepatitis A vaccine, Healive® and the Sabin-strain inactivated polio vaccine.
Helen Yang, Chief Business Officer of SINOVAC said, “SINOVAC is an old friend of CPHI, and we are happy to finally return to CPHI’s in-person event for the first time since the outbreak of the COVID-19 pandemic globally. As always, we highly value the platform’s business potential, and plan to showcase many of our best products, especially those approved by the WHO and distributed to many countries around the world. We are eager to introduce our recent cutting-edge technologies to our global partners and to develop more business opportunities.”
To meet SINOVAC on site, you are welcome to visit Booth#41G20, or contact Alice Chen via info@sinovac.com to schedule appointments.
About SINOVAC
Sinovac Biotech Ltd., (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.
SINOVAC’s product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, seasonal influenza, pneumococcal disease, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella, mumps, poliomyelitis, etc.
The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine commercialized in China in 2016. In 2022, SINOVAC’s Sabin-strain inactivated polio vaccine (sIPV) was prequalified by the WHO.
SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program.
SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.
For more information, please see the Company’s website at www.sinovac.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005130/en/
Permalink
https://www.aetoswire.com/en/news/2810202228080
Contacts
Sinovac Biotech Ltd.
PR Team
pr@sinovac.com
Tessolve solidifies its Silicon Design solutions with the acquisition of P2fsemi, deepening its expertise in Physical Design
BANGALORE, India - Friday, 28. October 2022
(BUSINESS WIRE) -- Tessolve (www.tessolve.com), the semiconductor industry's leading engineering solution provider, has acquired Pico2Femto Semiconductor (P2fsemi), primarily focused on physical design solutions.
P2fsemi's acquisition significantly strengthens Tessolve's ASIC design offerings from RTL to GDSII signoff, with increased full-turnkey backend design expertise. Tessolve has pioneered several turnkey solutions, from design to testing packaged parts, over the last few years, evolving into the largest stand-alone semiconductor engineering solution provider.
P2fsemi enables customers to get first-pass silicon success with their 100+ Physical Design experts specialized in technology nodes down to 3nm. Its capabilities include hardening high-speed & complex IPs and complex low-power SOCs from top-level implementation to signoffs. P2fsemi will complement and deepen Tessolve's existing pre-silicon design solutions.
Balaji Prabhakar, CEO of P2fsemi, said, "Both the companies share a common vision, and the merger brings significant opportunities for all the stakeholders, customers, and employees. As part of Tessolve, we will be able to deliver world-class engineering solutions to our new and larger global customer base, add value to existing customers and create more high-skilled engineering talent in the region."
"P2fsemi team, with excellent Physical Design expertise in advanced process nodes, is a great addition to our strong engineering team delivering state-of-the-art Silicon Design solutions. As we march towards our vision of becoming the leading platform company for Silicon and Systems Design and Productization, we will continue to make key investments to be a value-add engineering partner to our customers. I welcome Balaji's team to the Tessolve family!" commented Srini Chinamilli, CEO of Tessolve.
Tessolve, with its recent growth and acquisitions, has quickly established itself as a vital partner for silicon design services. With people at the center of its core values, Tessolve continues to enable customer success while providing employees with opportunities to push technology boundaries.
About Tessolve
Tessolve (a Hero Electronix Venture) is the leading engineering service/solution provider with 3000+ employees worldwide and a full breadth of pre-and post-silicon expertise. Tessolve provides a one-stop-shop solution with full-fledged hardware and software capabilities, including its advanced silicon and system testing labs.
Tessolve offers complete Turnkey ASIC Solutions, from design to packaged parts. We are actively investing in the R&D center of excellence initiatives such as 5G, mmWave, high power PMICs, HSIO, HBM/3D/Chiplets, system-level tests, advanced verification methodologies, and others.
Tessolve also offers end-to-end product design services in the embedded domain from concept to manufacturing under an ODM model with application expertise in Avionics, Automotive, Data Centre/ Enterprise, Industrial/IoT, and Wireless segments. Visit www.tessolve.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005495/en/
Permalink
https://www.aetoswire.com/en/news/2810202228073
Contacts
Ponni Carlin
ponni.carlin@tessolve.com
408-204-8998
Takeda Delivers Strong FY2022 H1 Results and Raises Full-Year Forecast
Strong Start to Fiscal Year with H1 Core Revenue Growth of +5.5% at Constant Exchange Rate (CER); Reported Revenue Growth +10.1%
Core Operating Profit Growth of +14.5% at CER; Core Operating Profit Margin of 31.7%
Reported Operating Profit Growth Affected by One-time Gain Booked in FY2021 Q1 from Sale of Diabetes Portfolio in Japan and FX Impact
Updating Peak Sales Outlook for ENTYVIO® to $7.5-9.0B
Net Debt / Adjusted EBITDA Improved to 2.6x; Well-balanced Maturity Profile with 98% of Debt at Fixed Rates at Average 2% Interest
Upgrading Full-Year Reported and Core Forecasts and Free Cash Flow Outlook, and Reconfirming Management Guidance
(BUSINESS WIRE) -- Takeda (TOKYO:4502/NYSE:TAK) today announced financial results for the first half of fiscal year 2022 (period ended September 30, 2022), upgrading reported and core forecasts and free cash flow outlook for the fiscal year and reconfirming Management Guidance for core growth at constant exchange rate (CER).
Takeda chief executive officer, Christophe Weber, commented:
“We succeeded in several major milestones in the first half of our fiscal year, including the first approval for Takeda’s dengue vaccine, QDENGA®, in Indonesia and more recently the CHMP positive opinion for Europe and dengue-endemic countries. These milestones, together with our financial results, continue to demonstrate our ability to advance our robust pipeline and deliver new solutions for people and patients around the world.”
Takeda chief financial officer, Costa Saroukos, commented:
“Our first half results are driven by strong momentum from our Growth and Launch Products, which grew at 19% year-on-year at constant exchange rate, and continued success in commercial execution, including new launches, contributing to core profit growth. Our core revenue and core operating profit grew 5.5% and 14.5% at constant exchange rate, respectively, enabling us to reconfirm our Management Guidance for FY2022.
“We have remained resilient amid rising inflation globally as a result of careful, long-term planning and strong execution and we continue to deleverage rapidly, finishing the first half with net debt to adjusted EBITDA at 2.6x, with 98% of our debt at fixed interest rates with a weighted average of 2%.
“We are upgrading our peak sales estimate for our biggest selling product, ENTYVIO®, based on potential for further biologic market growth and share expansion, and our updated assumption for biosimilar entry timing. We are also raising our reported and core forecasts and free cash flow outlook for the full year, primarily reflecting favorable foreign exchange rates.
“We look forward to building on our first half business momentum throughout FY2022.”
Takeda’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit, Core EPS, Constant Exchange Rate (“CER”) change, Net Debt, EBITDA, Adjusted EBITDA and Free Cash Flow. Takeda’s management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this presentation. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. By including these non-IFRS measures, management intends to provide investors with additional information to further analyze Takeda’s performance and core results, including when controlling for the effect of fluctuations in exchange rates. Takeda’s non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as “reported” measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS financial measures to their most directly comparable IFRS measures, which are in the financial appendix at the end of Takeda's Q2 FY2022 investor presentation (available at takeda.com/investors/financial-results).
Medical information
This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.
1Please refer to slide 19 of Takeda’s FY2022 Q2 investor presentation (available at takeda.com/investors/financial-results) for the definition of Growth & Launch Products.
Cepton, Inc. Announces Agreement for $100 Million Investment from Koito Manufacturing
SAN JOSE, Calif. - Friday, 28. October 2022
(BUSINESS WIRE) -- Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions, announced today that it has entered into a binding investment agreement dated October 27, 2022 (“Investment Agreement”) for a $100 million investment from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. (“Koito”) (TSE: 7276). As previously reported, the investment will be used to fund Cepton’s next stage of growth as it scales its lidar solutions for mass deployment.
Under the terms of the Investment Agreement, which has been unanimously approved by Cepton’s board of directors, Koito will purchase $100 million of convertible preferred stock (the “Preferred Stock”), with a purchase price of $1,000 per share. The Preferred Stock will be convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s common stock at an approximate initial conversion price of $2.585 per share, representing a 10.0% premium to Cepton’s volume-weighted average price over the trailing 20 trading day period ending on October 26, 2022. The initial conversion price also represents a 13.4% premium to Cepton’s closing price on October 26, 2022 and a 7.0% premium to Cepton’s average closing price over the past five trading days. At Cepton’s election, the Preferred Stock carries a 4.250% per annum dividend if paid in kind or a 3.250% per annum dividend if paid in cash, in each case paid quarterly in arrears.
Dating back to 2017, Cepton and Koito have a strong history of collaboration, and this marks Koito’s third investment in Cepton since 2020. As a direct result of their partnership, Cepton and Koito were awarded the industry’s largest known ADAS lidar series production award.
“We are excited to further strengthen our partnership with Koito and remain deeply grateful for Koito’s continued support. This investment solidifies Cepton’s financial position, and allows us to continue our execution excellence as we focus on commercialization and mass market deployment of our lidar sensors,” said Dr. Jun Pei, Cepton’s Co-Founder and CEO.
“We are pleased to announce our third investment in Cepton as we work towards developing and commercializing next-generation automotive sensor technologies. Our partnership has developed over the years and Cepton remains a critical partner for us. This investment serves as a testament to our commitment towards Cepton and bringing lidar-based ADAS and AV systems to everyday vehicles,” said Mr. Michiaki Kato, Koito’s President.
Consummation of the investment is subject to, among other things, the approval of Cepton’s shareholders and satisfaction of applicable closing conditions. The investment is expected to close in the first quarter of 2023. More information regarding the investment and key terms of the Preferred Stock will be included in a Form 8-K to be filed by Cepton with the Securities and Exchange Commission.
Advisors
ICR Capital LLC is serving as exclusive financial advisor to Cepton and O’Melveny & Myers LLP is serving as legal counsel to Cepton. SMBC Nikko is serving as exclusive financial advisor to Koito and Davis Polk & Wardwell LLP and Nishimura & Asahi are serving as legal counsel to Koito.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “objective,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “milestone,” “designed to,” “proposed” or other similar expressions that predict or imply future events, trends, terms and/or conditions or that are not statements of historical matters. Cepton cautions readers of this press release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond Cepton’s control, that could cause the actual results to differ materially from the expected results. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction contemplated by the Investment Agreement, the terms of the Preferred Stock, including with respect to potential conversion or repurchase thereof, and the related rights and protections granted to Koito in connection therewith, the potential benefits of entering into and consummating the proposed transaction contemplated by the Investment Agreement, including with respect to Cepton’s financial position and ability to execute on commercialization and mass market deployment goals, the ability of Cepton to obtain necessary approvals, including the approval of Cepton’s shareholders for the Preferred Stock transaction, satisfying the applicable closing conditions for such proposed transaction contemplated by the Investment Agreement, and the timing thereof. These forward-looking statements should not be relied upon as representing Cepton’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Cepton undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
About Cepton
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces, and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries.
Cepton has been awarded a significant ADAS lidar series production award with Koito on the General Motors business. Cepton is also engaged with all Top 10 global OEMs.
Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, CA and has a center of excellence facility in Troy, MI to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit www.cepton.com and follow Cepton on Twitter and LinkedIn.
About Koito
Under the corporate message, “Lighting for Your Safety”, Koito Manufacturing Co., Ltd. (Koito) has been marking a history of leadership in automotive lighting since its establishment in 1915. Today, the Koito Group consists of 31 companies located in 13 countries worldwide and provides products and services to customers all over the world, through the global network led by five major regions (Japan, Americas, Europe, China, and Asia). Its products, recognized for its high quality and advanced technology, are widely used by automotive makers worldwide. The company is responding to the future transformation of mobility through the development of next-generation lighting technologies and related equipment, control systems, and environmentally friendly products, materials, and production methods. For more information, please visit www.koito.co.jp/english.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005393/en/
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Contacts
Cepton, Inc. Contacts
Investors: InvestorRelations@cepton.com
Media: Faithy Li, media@cepton.com
Koito Manufacturing Contacts
Public Relations Department, kouhou@koito.co.jp
Thursday, October 27, 2022
Medisca to Open New Plattsburgh, NY Facility Exceeding Rigorous Quality and Employee Safety Standards
PLATTSBURGH, N.Y. - Thursday, 27. October 2022
(BUSINESS WIRE)--Medisca, a global company offering pharmaceutical compounding products and services, mixing technology, manufacturing, education services and more, announces plans to lease a standalone 60,000 square foot building to consolidate repackaging and distribution operations in Plattsburgh, NY under one roof.
The new facility will feature state-of-the-art technology and processes designed to meet rigorous quality standards, while serving the ever-increasing capacity needs of customers as personalized medicine continues to accelerate in response to patient needs.
New Facility Leased to Streamline Operations with a Focus on Employee Wellness
The planned facility is the result of several years of preparation and refinement and will include a significant investment. Five different sites will be consolidated into the new, modern location that will generate a positive impact on operational flow and employee well-being.
“We are building this new facility to address both current and future needs as Medisca continues to grow and strategically expand our business around the globe,” said Antonio Dos Santos, Medisca Founder and President. “By consolidating our existing space into one single site, we will more than double our capacity to serve our customers. The new facility will offer best-in-class automated workflows and layouts for maximum efficiency and employee wellness, which is at the core of our corporate values. We expect our new facility to be an attractive place to work and we are happy to remain a key employer of choice in the Plattsburgh region.”
The new site is expected to employ 100 people by the time it opens in July 2023. Carefully designed with a logical layout and equipped with machinery to facilitate efforts, the new facility will ensure employee safety and optimize output while adhering to the most stringent global standards for quality, including FDA cGMP.
“We are thrilled to be a part of the continued investment by Medisca in the greater Plattsburgh community,” said industrial developer TDC NNY President and CEO David Champagne. “They will be an excellent addition to Banker Road Industrial Park.”
Medisca also operates out of a repackaging and distribution facility in Dallas, Texas that is also in the midst of renovation and optimization as part of a strategic plan to better service customers.
About Medisca
Medisca is a global corporation with locations throughout North America, Australia, and Europe, that contributes to healthcare by leveraging strong partnerships that deliver customized solutions with an unwavering commitment to quality and innovation. Backed by 30+ years and a strong foundation in pharmaceutical compounding, Medisca is a business-to-business company that delivers comprehensive offerings by providing value, consistency, responsiveness, and loyalty. From pharmaceutical compounding products and services, to supply chain solutions, mixing technology manufacturing, analytical testing, IP licensing, to education services and more – Medisca delivers extensive solutions that leverages a strong network of partners committed to deeply caring about people. As Partners in Wellness, Medisca offers an unfailing devotion to improving lives, across a multitude of needs and across a multitude of people. For more information visit www.medisca.com and follow us on LinkedIn, Facebook, Twitter, and YouTube.
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Contacts
Gayle Padvaiskas
Vice President, Global Marketing
Medisca
gpadvaiskas@medisca.com
1-800-665-6334
Anheuser-Busch InBev Reports Third Quarter 2022 Results
BRUSSELS - Thursday, 27. October 2022
Best quarterly volume performance this year driven by accelerated digital transformation and continued consumer demand for our brand portfolio
(BUSINESS WIRE) -- Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD):
Regulated and inside information1
“We delivered broad-based volume growth of 3.7% this quarter resulting in an accelerated increase in revenue of 12.1%. We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment. As a result of our performance and continued momentum, we are raising the bottom-end of our FY22 EBITDA outlook.” – Michel Doukeris, CEO, AB InBev
Total Revenue
+ 12.1%
Revenue increased by 12.1% in 3Q22 with revenue per hl growth of 8.0% and by 11.5% in 9M22 with revenue per hl growth of 7.8%.
12.7% increase in combined revenues of our global brands, Budweiser, Stella Artois and Corona, outside of their respective home markets in 3Q22, and 9.6% in 9M22.
Approximately 57% of our revenue now through B2B digital platforms with the monthly active user base of BEES reaching 3.1 million users as of 30 September 2022.
Over 385 million USD of revenue and approximately 17 million ecommerce orders generated by our direct-to-consumer ecosystem in 3Q22.
Total Volume
+3.7%
In
3Q22, total volumes grew by 3.7% , with own beer volumes up by 3.4% and
non-beer volumes up by 5.2% . In 9M22, total volumes grew by 3.3% with
own beer volumes up by 2.8% and non-beer volumes up by 6.5%.
Normalized EBITDA
+ 6.5%
In
3Q22 normalized EBITDA of 5 313 million USD represents an increase of
6.5% with normalized EBITDA margin contraction of 183 bps to 35.2% . In
9M22, normalized EBITDA increased by 7.0% to 14 896 million USD and
normalized EBITDA margin contracted by 143 bps to 34.5%. Normalized
EBITDA figures of 9M22 and 9M21 include an impact of 201 million USD and
226 million USD from tax credits in Brazil that were recorded in 2Q22
and 2Q21 respectively. For more details, please see page 10.
Underlying Profit
1 682 million USD
Underlying
profit (normalized profit attributable to equity holders of AB InBev
excluding mark-to-market gains and losses linked to the hedging of our
share-based payment programs and the impact of hyperinflation) was 1 682
million USD in 3Q22 compared to 1 699 million USD in 3Q21 and was 4 354
million USD in 9M22 compared to 4 290 million USD in 9M21.
Underlying EPS
0.84 USD
Underlying
EPS was 0.84 USD in 3Q22, a decrease from 0.85 USD in 3Q21 and was 2.16
USD in 9M22, an increase from 2.14 USD in 9M21.
1The enclosed information constitutes inside information as defined in Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, and regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. For important disclaimers and notes on the basis of preparation, please refer to page 14.
Management comments
Best quarterly volume performance this year driven by accelerated digital transformation and continued consumer demand for our brand portfolio
Our volume momentum accelerated this quarter as we delivered 3.7% growth, even in the context of the ongoing dynamic operating environment. Top-line grew by 12.1% with 8.0% revenue per hl growth, driven by revenue management initiatives and continued premiumization across most of our markets. EBITDA increased by 6.5% as our top-line growth was partially offset by anticipated transactional FX and commodity cost headwinds and increased sales and marketing investments in our brands.
Following the recognition of our brand building and creative marketing capabilities at the Cannes Lions International Festival of Creativity, we were honored to be named the World’s Most Effective Marketer in the Global Effie Effectiveness Index for the first time in our company history.
As we continue on our deleveraging path, our bond portfolio maintains a very manageable weighted average pre-tax coupon rate of approximately 4% with 94% of the portfolio fixed rate. The weighted average maturity remains more than 16 years with no near- or medium-term refinancing requirements.
Consistent execution of our strategy
We continue to execute on and invest in three key strategic pillars to deliver consistent growth and long-term value creation.
See Image 1.
1. Lead and grow the category:
This quarter we delivered a broad-based total volume increase of 3.7% with growth in more than 60% of our markets.
2. Digitize and monetize our ecosystem:
BEES
is now live in 19 markets and has reached 3.1 million monthly active
users as of 30 September 2022, a 7% increase versus 2Q22. BEES
Marketplace is now live in 14 markets with 44% of BEES customers now
also Marketplace buyers.
3. Optimize our business:
In
9M22, our EBITDA grew by 7.0% and, as a result of deleveraging, our net
interest expense decreased by approximately 200 million USD versus
9M21.
1. Lead and grow the category:
We are executing on five proven and scalable levers to drive category expansion:
- Inclusive Category: In 3Q22, consumer participation with our portfolio increased in most of our focus markets, according to our estimates, driven by brand, pack and liquid innovations focused on expanding inclusivity and accessibility. For example, in Mexico, our pack size initiatives across both upsizing and downsizing grew strong double-digits this quarter, contributing over 1 million hl’s in volume and improving profitability in both the core and above core segments of our portfolio.
- Core Superiority: In 3Q22, our mainstream portfolio continued to outperform the industry across the majority of our focus markets, according to our estimates, and delivered low-teens revenue growth, led by particularly strong performances in Mexico, Brazil and South Africa.
- Occasions Development: Our global non-alcohol beer portfolio delivered double-digit revenue growth this quarter led by Budweiser Zero and Stella Artois Liberté in the US.
- Premiumization: Our above core portfolio grew revenue by low-teens this quarter, led by continued double-digit growth of Michelob ULTRA in the US and Mexico and further expansion of Spaten in Brazil. Our global brands grew revenue by 12.7% outside of their home markets this quarter, led by Corona with 23.5% growth. Budweiser grew by 8.9% despite the impact of COVID-19 restrictions in China, the brand’s largest market. Stella Artois grew by 7.0% with continued growth in focus markets such as the US and Brazil.
- Beyond Beer: Our global Beyond Beer business grew revenue by over 10% this quarter, contributing more than 400 million USD of revenue. In the US, within the spirits-based ready-to-drink segment, our portfolio continued to grow strong double-digits, ahead of the industry, led by Cutwater and NÜTRL vodka seltzer. In South Africa, Brutal Fruit and Flying Fish delivered continued double-digit volume growth.
2. Digitize and monetize our ecosystem
- Digitizing our relationships with our more than 6 million customers globally: As of 30 September 2022, BEES is live in 19 markets with approximately 57% of our revenues now through B2B digital platforms. In 3Q22, BEES reached 3.1 million monthly active users and captured approximately 7.7 billion USD in gross merchandise value (GMV), growth of over 40% versus 3Q21. BEES Marketplace is now live in 14 markets and generated September annualized revenues from sales of third party products of approximately 850 million USD. As of September 2022, 44% of BEES customers were also Marketplace buyers.
- Leading the way in DTC solutions: Our digital direct-to-consumer (DTC) products, Ze Delivery, TaDa and PerfectDraft are now available in 17 markets and generated over 100 million USD in revenue and 17 million orders in the quarter. Our network of physical retail products, such as Modelorama in Mexico and Pit Stop in Brazil, continued to deliver revenue growth across our footprint of approximately 13 000 stores. Combined, our omni-channel DTC ecosystem of digital and physical DTC products generated revenue of over 1 billion USD in 9M22, mid-teens growth versus 9M21.
3. Optimize our business
In
9M22, we continued to focus on disciplined resource allocation and
delivered 7.0% EBITDA growth. Our bond portfolio maintains a very
manageable weighted average pre-tax coupon rate of approximately 4% with
94% of the portfolio fixed rate. Our net interest expense for 9M22
decreased by approximately 200 million USD versus 9M21, principally as a
result of our gross debt reduction efforts.
Advancing our ESG priorities
As
we continue to advance our sustainability agenda, we were proud to
recently be included on Fortune’s Change the World List in recognition
of our global initiatives in water stewardship. We are also making
progress towards our ambition to achieve net zero by 2040, reaching
carbon neutrality at five facilities in Brazil and one in Argentina in
9M22.
Creating a future with more cheers
Through
the implementation of our category expansion levers, we continue to
lead and grow the beer category resulting in broad-based volume growth
of 3.7% this quarter. We are digitizing and monetizing our ecosystem
with 57% of our revenue now through digital channels and we continue to
optimize our business through efficient resource allocation and
dynamically balancing our capital allocation priorities to drive
long-term value creation. We remain focused on the consistent execution
of our strategy and ESG priorities to generate value for our
stakeholders and deliver on our purpose to create a future with more
cheers.
2022 Outlook
- Overall Performance: We expect our FY22 EBITDA to grow between 6-8% and our revenue to grow ahead of EBITDA from a healthy combination of volume and price. Our medium-term outlook, which aims to deliver EBITDA growth of 4-8%, remains unchanged.
- Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 170 to 200 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY22 to be approximately 4.0%. Net finance costs will continue to be impacted by any gains and losses related to the hedging of our share-based payment programs.
- Effective Tax Rates (ETR): We expect the normalized ETR in FY22 to be in the range of 28% to 30% excluding any gains and losses relating to the hedging of our share-based payment programs. The ETR outlook does not consider the impact of potential future changes in legislation.
- Net Capital Expenditure: We expect net capital expenditure of between 4.5 and 5.0 billion USD in FY22.
Key Market Performances
United States: Continued top-line growth driven by our above core portfolio
- Operating performance:
- 3Q22: Revenue grew by 1.9% with revenue per hl increasing by 3.8%. Sales-to-wholesalers (STWs) were down by 1.8% and sales-to-retailers (STRs) declined by 1.7%, estimated to be below the industry, with September volumes benefitting from shipment phasing ahead of our October price increase. EBITDA declined by 2.0%.
- 9M22: Top
line grew by 2.2% with revenue per hl growth of 5.1%. Our STWs were
down by 2.7% and STR’s declined by 3.1%. EBITDA decreased by 0.9%.
- Commercial highlights: The beer industry remains resilient even in the context of an ongoing inflationary environment. We continue to progress on our commercial strategy to rebalance our portfolio with our above core beer and Beyond Beer brands now generating approximately 40% of our revenue. Our above core beer portfolio outperformed the industry this quarter, led by Michelob ULTRA which grew by double-digits and complemented by growth in Stella Artois, Kona Big Wave and Estrella Jalisco. In Beyond Beer, our spirits-based ready-to-drink portfolio continued to outperform the industry, led by Cutwater, the #1 spirits-based cocktail in the country, and NÜTRL vodka seltzer which both grew strong double-digits.
Mexico: Double-digit top- and bottom-line growth with accelerated market share gain
- Operating performance:
- 3Q22: Revenue grew by mid-twenties with revenue per hl growth of mid-teens, driven by revenue management initiatives and premiumization. Our volumes grew by more than 10% as we continued to outperform the industry. EBITDA grew by low-twenties.
- 9M22: Top-line
grew by high-teens with high-single digit volume and revenue per hl
growth of more than 10%. EBITDA increased by mid-teens.
- Commercial highlights: We delivered volume growth across all segments of our portfolio this quarter, with our above core portfolio delivering growth in the high-twenties, led by Modelo, Pacifico and Michelob Ultra. We continued to develop our distribution footprint, expanding into over 800 additional Oxxo stores this quarter with the rollout now approximately 80% complete. BEES continues to expand, with approximately 86% of our revenues now digital and 60% of our BEES customers now also BEES Marketplace buyers.
Colombia: Double-digit top-line growth with record high per capita consumption
- Operating performance:
- 3Q22: Revenue grew by high-teens with high-single digit volume and low-teens revenue per hl growth, driven by revenue management initiatives and premiumization. EBITDA grew by high-single digits.
- 9M22: Revenue
grew by low-twenties with volume increasing by high-single digits and
revenue per hl growth of low-teens. EBITDA grew by low-teens.
- Commercial highlights: Led by the consistent implementation of our category expansion levers, we delivered volume growth across all segments of our portfolio this quarter. Our premium and super premium portfolio continued to lead the way, delivering high-teens volume growth and reaching an all-time high volume and share of our total revenue. More than 30% of our BEES customers are now also BEES Marketplace buyers.
Brazil: Double-digit top- and bottom-line growth with margin expansion
- Operating performance:
- 3Q22: Revenue grew by 20.1%, with volume growth of 2.4% and revenue per hl growth of 17.3%. Our beer volumes were flat, as we cycled a strong performance in 3Q21. Non-beer volumes grew by 9.2%. EBITDA grew by 23.7% with margin expansion of 75bps.
- 9M22: Total
volume grew by 5.9% with beer volumes up by 3.4% and non-beer volumes
up by 13.9%. Revenue increased by 21.1%, with revenue per hl growth of
14.3%. EBITDA grew by 18.1%.
- Commercial highlights: Our premium and super premium brands continued to outperform this quarter, delivering high-single digit volume growth. Our core beer portfolio increased volumes by mid-single digits, and we continued to invest behind the development of our core plus brands. Non-beer volume growth was led by the performance of our premium and wellness brands. Over 70% of our BEES customers are now also BEES Marketplace buyers. Our digital DTC platform, Zé Delivery, fulfilled over 15 million orders in 3Q22, and has reached 4.3 million monthly active users.
Europe: Double-digit top-line growth offset by elevated cost pressures
- Operating performance:
- 3Q22: Revenue grew by double-digits, with mid-single digit volume and high-single digit revenue per hl growth, driven by ongoing demand for our premium brands, revenue management initiatives and on-premise recovery. EBITDA declined by mid-single digits, impacted by commodity cost headwinds and increased sales and marketing investments to support our premium strategy and FIFA World CupTM activations.
9M22: Revenue grew by low-teens with high-single digit revenue per hl and low-single digit volume growth. EBITDA increased by mid-single digits.
Commercial highlights: We continue to premiumize our portfolio in Europe, with our global and super premium brands both delivering double-digit revenue growth this quarter. Led by the consistent execution of our strategy, in 9M22 we expanded or maintained market share in the majority of our key markets, according to our estimates. Our DTC product, PerfectDraft, expanded its shopper base by more than 20% versus 3Q21.
South Africa: Double-digit top- and bottom-line growth and additional investment in capacity to support growth
- Operating performance:
- 3Q22: Revenue grew by mid-twenties, with mid-single digit revenue per hl growth, primarily driven by revenue management initiatives. Our volumes grew by high-teens, driven by the execution of our category expansion levers and supported by a favorable comparable from a 25 day ban on alcohol sales in 3Q21. EBITDA grew by over 30%. Versus 3Q19, volumes grew by low-teens, ahead of the industry according to our estimates.
- 9M22: Revenue
grew by more than 20% with mid-single digit revenue per hl growth and
mid-teens increase in volume. EBITDA grew by high-twenties.
- Commercial highlights: We delivered growth across all segments of our portfolio this quarter, despite production capacity constraints limiting our ability to fully service consumer demand. We have invested in additional capacity which is expected to come on-line in 4Q22. Our performance was led by over 30% revenue growth in our leading core brand, Carling Black Label. Our premium, super premium and Beyond Beer portfolios all delivered a double-digit increase in volumes. Over 50% of BEES customers are now also BEES Marketplace users.
China: Underlying consumer demand remains consistent, though industry impacted by continued COVID-19 restrictions
- Operating performance:
- 3Q22: COVID-19 restrictions continued to disproportionately impact our key regions and sales channels. Our volumes grew by 3.6%. Revenue per hl declined by 1.9%, driven by negative channel and geographic mix, resulting in total revenue growth of 1.7%. EBITDA declined by 2.3%.
- 9M22: Volumes declined by 2.2% and revenue per hl grew by 0.7%, leading to total revenue decline of 1.6%. EBITDA declined by 5.1%
- Commercial highlights: We continue to invest behind our commercial strategy, focused on premiumization, channel and geographic expansion and digital transformation. In our expansion cities, excluding those impacted by restrictions, Budweiser and our super premium portfolio grew volumes by double-digits. Our BEES platform has expanded to more than 90 cities with over 10% of our revenue through digital channels in September.
Highlights from our other markets
- Canada: Our total volume outperformed the industry. Total revenue grew by high-single digits this quarter with volume growth of mid-single digits.
- Peru: Fueled by the consistent execution of our commercial strategy and ongoing portfolio transformation, we delivered record high volumes for the quarter. Revenue grew by low-teens with high-single digit revenue per hl and low-single digit volume growth. Over 50% of BEES customers are now also BEES Marketplace buyers.
- Ecuador: We delivered low-twenties revenue growth with a volume increase of low-teens this quarter, driven by continued expansion of the beer category and a favorable comparable from COVID-19 recovery. Over 60% of BEES customers are now also BEES Marketplace buyers.
- Argentina: Volumes grew by high-single digits this quarter, led by our core beer portfolio and global brands. Revenue per hl grew by double-digits, driven primarily by revenue management initiatives in a highly inflationary environment.
- Africa excluding South Africa: In Nigeria, our top-line grew by high-single digits this quarter, driven by revenue management initiatives, though volumes declined due to a soft industry and ongoing supply chain constraints. In our other key markets, we delivered double-digit revenue growth in 3Q22, driven by Tanzania, Zambia and Botswana. We are investing in additional capacity in Zambia to support growth.
- South Korea: Volumes grew by mid-teens this quarter, driven by our leading core brand ‘All New Cass’, continued market share gains and further improvement in the operating environment. Revenue per hl increased by mid-single digits resulting in double-digit revenue growth.
Consolidated other operating income/(expenses) in 9M22 increased by 9.9% primarily driven by higher government grants. In 9M22, Ambev recognized 201 million USD income in other operating income related to tax credits (9M21: 226 million USD). The net impact is presented as a scope change and does not affect the presented organic growth rates.
EBIT excludes negative non-underlying items of 165 million USD in 3Q22 and 270 million USD in 9M22. Business and asset disposals in 3Q22 comprise mainly impairment of intangible assets and other non-core assets sold in the period.
Non-underlying share of results of associates includes the non-cash impairment of 1 143 million USD the company recorded on its investment in AB InBev Efes in 1Q22.
Net finance costs in 9M22 were positively impacted by the mark-to-market gain on the hedging of our share-based payment programs. The number of shares covered by the hedging of our share-based payment programs, and the opening and closing share prices, are shown in figure 6 below.
Non-underlying net finance income/(cost)
Non-underlying net finance cost in 9M22 includes mark-to-market gains on derivative instruments entered into to hedge the shares issued in relation to the Grupo Modelo and SAB combinations.
The number of shares covered by the hedging of the deferred share instrument and the restricted shares are shown in figure 8, together with the opening and closing share prices.
The decrease in normalized ETR excluding mark-to-market gains and losses linked to the hedging of our share-based payment programs in 3Q22 compared to 3Q21 and the decrease in 9M22 compared to 9M21 is driven by country mix.
Reconciliation between profit attributable to equity holders and normalized EBITDA
Normalized EBITDA and normalized EBIT are measures utilized by AB InBev to demonstrate the company’s underlying performance.
Normalized EBITDA is calculated excluding the following effects from profit attributable to equity holders of AB InBev: (i) non-controlling interest; (ii) income tax expense; (iii) share of results of associates; (iv) non-underlying share of results of associates; (v) net finance cost; (vi) non-underlying net finance cost; (vii) non-underlying items above EBIT; and (viii) depreciation, amortization and impairment.
Normalized EBITDA and normalized EBIT are not accounting measures under IFRS accounting and should not be considered as an alternative to profit attributable to equity holders as a measure of operational performance, or an alternative to cash flow as a measure of liquidity. Normalized EBITDA and normalized EBIT do not have a standard calculation method and AB InBev’s definition of normalized EBITDA and normalized EBIT may not be comparable to that of other companies.
Notes
To
facilitate the understanding of AB InBev’s underlying performance, the
analyses of growth, including all comments in this press release, unless
otherwise indicated, are based on organic growth and normalized
numbers. In other words, financials are analyzed eliminating the impact
of changes in currencies on translation of foreign operations, and scope
changes. Scope changes represent the impact of acquisitions and
divestitures, the start or termination of activities or the transfer of
activities between segments, curtailment gains and losses and year over
year changes in accounting estimates and other assumptions that
management does not consider as part of the underlying performance of
the business. All references per hectoliter (per hl) exclude US non-beer
activities. Whenever presented in this document, all performance
measures (EBITDA, EBIT, profit, tax rate, EPS) are presented on a
“normalized” basis, which means they are presented before non-underlying
items. Non-underlying items are either income or expenses which do not
occur regularly as part of the normal activities of the Company. They
are presented separately because they are important for the
understanding of the underlying sustainable performance of the Company
due to their size or nature. Normalized measures are additional measures
used by management and should not replace the measures determined in
accordance with IFRS as an indicator of the Company’s performance. We
are reporting the results from Argentina applying hyperinflation
accounting, starting from the 3Q18 results release in which we accounted
for the hyperinflation impact for the first nine months of 2018. The
IFRS rules (IAS 29) require us to restate the year-to-date results for
the change in the general purchasing power of the local currency, using
official indices before converting the local amounts at the closing rate
of the period. These impacts are excluded from organic calculations and
are identified separately in the annexes within the column labeled
“Hyperinflation restatement” for the quarter and within the column
“Currency translation” year to date. In 9M22, we reported a positive
impact on the profit attributable to equity holders of AB InBev of 52
million USD. The impact in 9M22 normalized EPS was 0.03 USD. Values in
the figures and annexes may not add up, due to rounding. 3Q22 and 9M22
EPS is based upon a weighted average of 2 012 million shares compared to
a weighted average of 2 006 million shares for 3Q21 and 9M21.
Legal disclaimer
This
release contains “forward-looking statements”. These statements are
based on the current expectations and views of future events and
developments of the management of AB InBev and are naturally subject to
uncertainty and changes in circumstances. The forward-looking statements
contained in this release include statements other than historical
facts and include statements typically containing words such as “will”,
“may”, “should”, “believe”, “intends”, “expects”, “anticipates”,
“targets”, “estimates”, “likely”, “foresees” and words of similar
import. All statements other than statements of historical facts are
forward-looking statements. You should not place undue reliance on these
forward-looking statements, which reflect the current views of the
management of AB InBev, are subject to numerous risks and uncertainties
about AB InBev and are dependent on many factors, some of which are
outside of AB InBev’s control. There are important factors, risks and
uncertainties that could cause actual outcomes and results to be
materially different, including, but not limited to, the effects of the
COVID-19 pandemic and uncertainties about its impact and duration and
the risks and uncertainties relating to AB InBev described under Item
3.D of AB InBev’s Annual Report on Form 20-F filed with the SEC on 18
March 2022. Many of these risks and uncertainties are, and will be,
exacerbated by the COVID-19 pandemic and the ongoing conflict in Russia
and Ukraine and any worsening of the global business and economic
environment. Other unknown or unpredictable factors could cause actual
results to differ materially from those in the forward-looking
statements. The forward-looking statements should be read in conjunction
with the other cautionary statements that are included elsewhere,
including AB InBev’s most recent Form 20-F and other reports furnished
on Form 6-K, and any other documents that AB InBev has made public. Any
forward-looking statements made in this communication are qualified in
their entirety by these cautionary statements and there can be no
assurance that the actual results or developments anticipated by AB
InBev will be realized or, even if substantially realized, that they
will have the expected consequences to, or effects on, AB InBev or its
business or operations. Except as required by law, AB InBev undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. The third quarter 2022 (3Q22) and nine month (9M22) financial
data set out in Figure 1 (except for the volume information), Figures 3
to 5, 7, 9, 10 and 13 of this press release have been extracted from
the group’s unaudited condensed consolidated interim financial
statements as of and for the nine months ended 30 September 2022, which
have been reviewed by our statutory auditors PwC Réviseurs d’Entreprises
SRL / PwC Bedrijfsrevisoren BV in accordance with the standards of the
Public Company Accounting Oversight Board (United States). Financial
data included in Figures 6, 8 11 and 12 have been extracted from the
underlying accounting records as of and for the nine months ended 30
September 2022 (except for the volume information). References in this
document to materials on our websites, such as www.bees.com, are included as an aid to their location and are not incorporated by reference into this document.
Conference call and webcast
Investor Conference call and webcast on Thursday, 27 October 2022:
3.00pm Brussels / 2.00pm London / 9.00am New York
Registration details:
Webcast (listen-only mode):
AB InBev 3Q & 9M22 Results Webcast
To join by phone, please use one of the following two phone numbers:
Toll-Free: 877-407-8029
Toll: 201-689-8029
About Anheuser-Busch InBev
Anheuser-Busch
InBev is a publicly traded company (Euronext: ABI) based in Leuven,
Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South
Africa (JSE: ANH) stock exchanges and with American Depositary Receipts
on the New York Stock Exchange (NYSE: BUD). As a company, we dream big
to create a future with more cheers. We are always looking to serve up
new ways to meet life’s moments, move our industry forward and make a
meaningful impact in the world. We are committed to building great
brands that stand the test of time and to brewing the best beers using
the finest ingredients. Our diverse portfolio of well over 500 beer
brands includes global brands Budweiser®, Corona® and Stella Artois®;
multi-country brands Beck’s®, Hoegaarden®, Leffe® and Michelob ULTRA®;
and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®,
Cass®, Castle®, Castle Lite®, Cristal®, Harbin®, Jupiler®, Modelo
Especial®, Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage
dates back more than 600 years, spanning continents and generations.
From our European roots at the Den Hoorn brewery in Leuven, Belgium. To
the pioneering spirit of the Anheuser & Co brewery in St. Louis, US.
To the creation of the Castle Brewery in South Africa during the
Johannesburg gold rush. To Bohemia, the first brewery in Brazil.
Geographically diversified with a balanced exposure to developed and
developing markets, we leverage the collective strengths of
approximately 169,000 colleagues based in nearly 50 countries worldwide.
For 2021, AB InBev’s reported revenue was 54.3 billion USD (excluding
JVs and associates).
Annex 1
Annex 2
View source version on businesswire.com: https://www.businesswire.com/news/home/20221026006095/en/
Contacts
Investors
Shaun Fullalove
Tel: +1 212 573 9287
E-mail: shaun.fullalove@ab-inbev.com
Maria Glukhova
Tel: +32 16 276 888
E-mail: maria.glukhova@ab-inbev.com
Cyrus Nentin
Tel: +1 646 746 9673
E-mail: cyrus.nentin@ab-inbev.com
Media
Kate Laverge
Tel: +1 917 940 7421
E-mail: kate.laverge@ab-inbev.com
Ana Zenatti
Tel: +1 646 249 5440
E-mail: ana.zenatti@ab-inbev.com
Fallon Buckelew
Tel: +1 310 592 6319
E-mail: fallon.buckelew@ab-inbev.com