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CNBC: Amazon AWS launches $20 million initiative to help fight the coronavirus

Business News, Technology, ,

Amazon AWS announced Friday it’s setting aside an initial $20 million to help accelerate research and development of diagnostic solutions. That includes, but won’t be limited to, helping push forward a more accurate, faster coronavirus COVID-19 test. 

“One area where we have heard an urgent need is in the research and development of diagnostics, which consist of rapid, accurate detection and testing of COVID-19,” Amazon said. “Better diagnostics will help accelerate treatment and containment, and in time, shorten the course of this epidemic.

Read entire article HERE.

Press Release: Federal Reserve announces the establishment of temporary U.S. dollar liquidity arrangements with other central banks

Business News, Financial / Investment, , ,

The Federal Reserve on Thursday announced the establishment of temporary U.S. dollar liquidity arrangements (swap lines) with the Reserve Bank of Australia, the Banco Central do Brasil, the Danmarks Nationalbank (Denmark), the Bank of Korea, the Banco de Mexico, the Norges Bank (Norway), the Reserve Bank of New Zealand, the Monetary Authority of Singapore, and the Sveriges Riksbank (Sweden). These facilities, like those already established between the Federal Reserve and other central banks, are designed to help lessen strains in global U.S. dollar funding markets, thereby mitigating the effects of these strains on the supply of credit to households and businesses, both domestically and abroad.

These new facilities will support the provision of U.S. dollar liquidity in amounts up to $60 billion each for the Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Korea, the Banco de Mexico, the Monetary Authority of Singapore, and the Sveriges Riksbank and $30 billion each for the Danmarks Nationalbank, the Norges Bank, and the Reserve Bank of New Zealand. These U.S. dollar liquidity arrangements will be in place for at least six months.

The Federal Reserve also has standing U.S. dollar liquidity swap lines with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

For media inquiries, call 202-452-2955.

Press Release: Roche initiates Phase III clinical trial of Actemra/RoActemra in hospitalised patients with severe COVID-19 pneumonia

Business News, Health, , , ,

Basel, 19 March 2020- Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced  we are working with the Food & Drug Administration (FDA) to initiate a randomised, double-blind, placebo-controlled Phase III clinical trial in collaboration with the Biomedical Advanced Research and Development Authority (BARDA), a part of the US Health and Human Services Office of the Assistant Secretary for Preparedness and Response (ASPR), to evaluate the safety and efficacy of Actemra®/RoActemra® (tocilizumab) plus standard of care in hospitalised adult patients with severe COVID-19 pneumonia compared to placebo plus standard of care.

This is the first global study of Actemra/RoActemra in this setting and is expected to begin enrolling as soon as possible in early April with a target of approximately 330 patients globally, including the US. The primary and secondary endpoints include clinical status, mortality, mechanical ventilation and intensive care unit (ICU) variables.

“We are initiating a clinical trial to study Actemra/RoActemra for the treatment of people hospitalised with COVID-19 pneumonia, so that we can better establish the potential role for Actemra/RoActemra in fighting this disease,” said Levi Garraway, M.D., Ph.D., Roche’s Chief Medical Officer and Head of Global Product Development. “In these unprecedented times, today’s announcement is an important example of how industry and regulators can collaborate quickly to address the COVID-19 pandemic, and we will share the results as soon as possible.”

To date, there are several independent clinical trials exploring the efficacy and safety of Actemra/RoActemra for the treatment of patients with COVID-19 pneumonia. Actemra/RoActemra has been included in the 7th updated diagnosis and treatment plan for COVID-19 issued by China’s National Health Commission (NHC) on March 3, 2020.

However, this new trial is vital because there are no well-controlled studies and limited published evidence on the safety or efficacy of Actemra/RoActemra in the treatment of patients suffering from COVID-19. In addition, Actemra/RoActemra is not currently approved for this use by any health authorities, including the US Food and Drug Administration (FDA).

In addition to initiating this trial, Roche received FDA Emergency Use Authorisation for the cobas® SARS-CoV-2 Test on March 13, 2020, to detect the novel virus that causes COVID-19 disease. Learn more here.

About the Clinical Trial
Roche is initiating a randomised, double-blind, placebo-controlled Phase III study (COVACTA) to evaluate the safety and efficacy of intravenous Actemra/RoActemra added to standard of care in adult patients hospitalised with severe COVID-19 pneumonia compared to placebo plus standard of care. The primary and secondary endpoints include clinical status, mortality, mechanical ventilation and intensive care unit (ICU) variables. Patients will be followed for 60 days post-randomisation, and an interim analysis will be conducted to look for early evidence of efficacy.

About Actemra/RoActemra
Actemra/RoActemra was the first approved anti-IL-6 receptor biologic available in both intravenous (IV) and subcutaneous (SC) formulations for the treatment of adult patients with moderate-to-severe active rheumatoid arthritis (RA). Actemra/RoActemra can be used alone or with methotrexate (MTX) in adult RA patients who are intolerant to, or have failed to respond to, other disease-modifying anti-rheumatic drugs (DMARDs). In Europe, RoActemra IV and SC are also approved for use in adult patients with severe, active and progressive RA who previously have not been treated with MTX. Actemra/RoActemra IV and SC are approved globally for polyarticular juvenile idiopathic arthritis (pJIA) and in the US and Europe for systemic juvenile idiopathic arthritis (sJIA) in children two years of age and older. Actemra/RoActemra SC injection is also the first approved therapy for the treatment of giant cell arteritis (GCA) in more than 40 countries, including the US and Europe. In the US and Europe, Actemra/RoActemra IV injection is approved for the treatment of chimeric antigen receptor (CAR) T-cell-induced severe or life-threatening cytokine release syndrome (CRS) in people two years of age and older. Actemra/RoActemra was the first approved treatment for CRS in this setting. A prefilled autoinjector ACTPen has been approved in the US and Europe. In Japan, Actemra is also approved for the treatment of Castleman’s Disease and Takayasu Arteritis. Actemra/RoActemra is part of a co-development agreement with Chugai Pharmaceutical Co., Ltd and has been approved in Japan since April 2005. Actemra/RoActemra is approved in more than 110 countries worldwide.

About Roche
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. The combined strengths of pharmaceuticals and diagnostics under one roof have made Roche the leader in personalised healthcare – a strategy that aims to fit the right treatment to each patient in the best way possible.

Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management.

Founded in 1896, Roche continues to search for better ways to prevent, diagnose and treat diseases and make a sustainable contribution to society. The company also aims to improve patient access to medical innovations by working with all relevant stakeholders. More than thirty medicines developed by Roche are included in the World Health Organization Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and cancer medicines. Moreover, for the eleventh consecutive year, Roche has been recognised as one of the most sustainable companies in the Pharmaceuticals Industry by the Dow Jones Sustainability Indices (DJSI).

The Roche Group, headquartered in Basel, Switzerland, is active in over 100 countries and in 2019 employed about 98,000 people worldwide. In 2019, Roche invested CHF 11.7 billion in R&D and posted sales of CHF 61.5 billion. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit www.roche.com.

All trademarks used or mentioned in this release are protected by law.


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AmCham Names New Chair & Board Members, Highlights Strong 2019 Performance, and Charts Ambitious Path Forward at 2020 AGM

AmCham News,

AmCham Names New Chair & Board Members, Highlights Strong 2019 Performance, and Charts Ambitious Path Forward at 2020 AGM

AmCham member company representatives joined Managing Director Jason Turflinger and the AmCham Board of Directors for this year’s Webex-based AmCham Annual General Meeting (AGM).

In the most notable Board change in several years, Roche Managing Director Rajji Mehdwan will take over for Citi Managing Director Pål Rokke as Board Chair.

In his outgoing speech, Rokke noted he was proud of all that AmCham achieved during his tenure as Chair, highlighting AmCham’s considerable expansion and the “combined efforts of the AmCham staff to ensure that member companies received all the assistance an AmCham should provide, from expanding market access to business assistance to professional development.”

Rokke, however, concluded his speech by looking at the future, highlighting the critical role AmCham will play in assisting the international business community through the COVID-19 crisis.

“In a crisis like this, long-term relationships are important, and that’s what AmCham will continue to focus on – the long-term cultivation of commerce and collaboration between our two countries and governments.”

AmCham would like to thank Rokke for serving as Board Chair for the past seven years and is pleased to announce that he will continue to play an important role in AmCham’s future development by continuing to serve on the Board.

Incoming Chair Mehdwan then made her first remarks to digitally assembled member company representatives, noting her excitement to lead AmCham given its unique position as the meeting place for international business leaders in Norway.

“AmCham has unique, very compelling role as a leading organization advocating for international and transatlantic business. And that’s particularly true in an extraordinary time like we all are in now.”

Notable AmCham Board Changes & Additions

Rajji

New Chair

Rajji Mehdwan

Roche Norge – General Manager

Trine

New Director

Trine Strømsnes

Cisco Norge – Managing Director

Stewart_Stan_chr

New Director

Stan Stewart

DLA Piper Norway – Partner

Like Rokke, Mehdwan touched on the evolving COVID-19 situation, highlighting that AmCham member companies will play a key role in helping local communities tackle challenges presented by the virus.

“I have heard many stories about technology and equipment companies lending their expertise to help other organizations and the public sector. It is really cool to see member companies pitching in and doing their best to help our community.”

Other Board changes included the departures of ExxonMobil Managing Director Jan Åge Hansen and Geir Christian Lysberg, and the additions of Cisco Managing Director Trine Strømsnes and DLA Piper Partner Stan Stewart. AmCham would like to thank Hansen and Lysberg for their extensive contributions to AmCham during their respective periods on the Board.

Strategic Priorities

In addition to Board changes, AmCham Treasurer Michael Klem highlighted a robust non-profit year for AmCham in 2019. This will give AmCham a strong foundation for sustained growth and success through 2020.

In the year to come, AmCham will publish a wide range of reports and business publications, headlined by the release of our coming Multinational Companies in Norway report in cooperation with Abelia. AmCham will furthermore continue to expand our business services and advocacy initiatives in the wake of recent global and domestic economic developments, solidifying our position as the voice of international business in Norway and playing a key part in Norway’s economic dugnad in response to COVID-19.

Hellemose speaking
AIG's Elisabeth Hellemose presenting at a gathering of our Mentoring Program

Expanding upon AmCham’s strategic priorities, Turflinger noted that “collaboration with and trust in AmCham’s exceptional member companies is a must for their further expansion in Norway and the US. We will do our part build upon all public-sector collaborations, and reinforce the hard-earned trust in our dynamic, long-term oriented member companies.”

In addition, member initiatives such as the AmCham Mentorship Program, Rising Leaders, our various industry-specific working groups, our timely cross-industry forums, and popular US Election series will continue – all carried out by AmCham’s capable, engaged staff.

CNBC: Thermo Fisher ships coronavirus tests, aims to produce 5 million tests a week by April

Business News, Health, ,

The first batch of government-authorized coronavirus tests from Thermo Fisher Scientific have shipped off and the “dramatic ramp up” in production has begun, CEO Marc Casper told CNBC Monday.

“We have already about 1.5 million tests in stock. We began shipping them yesterday and today,” Casper said in a “Mad Money” interview with Jim Cramer. “But we’re ramping up to about 2 million tests in production a week, and then over the course of April we’ll be able to get that to about 5 million tests a week in terms of production.”

Read entire article HERE.

CNBC: Eli Lilly CEO aims to start testing coronavirus cure ‘this summer’

Business News, Health, ,

Eli Lilly CEO David Ricks told CNBC on Friday that his company aims to start testing a treatment for the globally spreading coronavirus in the coming months.

The pharmaceutical giant on Thursday announced that it has teamed up with the privately held AbCellera Biologics to co-develop a medicine for COVID-19, the disease caused by the virus that has sickened more than 137,000 people across the world and at least 1,700 in the U.S. as of Friday.

“The speed at which [pharma research] is unfolding is unprecedented in our industry. Literally, AbCellera started this work 11 days ago,” Ricks said in a phone interview with Jim Cramer on “Mad Money.” “We hope to be in a clinical trial this summer.”

Read entire article HERE.

EuropeanCEO: Norsk Hydro Hilde Merete Aasheim shows her mettle

Business News, Chemicals / Metals,

The prominence given to environmental issues of late has placed a harsh spotlight on the commodities sector. The planet’s raw materials are finite, and harvesting them can often be cheaper than recycling. The environmental cost is usually ignored.

Nevertheless, the aluminium industry has not performed too badly in terms of sustainability. A staggering 75 percent of all the aluminium ever produced is still in use today. Still, demand for the metal is growing at such a rapid rate that mining projects continue to be an important source of the commodity. According to market research firm IndustryARC, the global demand for aluminium is set to expand by a compound annual growth rate of 4.2 percent between 2019 and 2025.

Given that global demand cannot be satisfied by recycled aluminium alone, a great deal of environmental responsibility still resides with mining firms producing this valuable commodity. One of the world’s largest, Norsk Hydro, employs 35,000 people across 40 countries and is present across all continents.

Read entire article HERE.

San Diego Union-Tribune: Thermo Fisher set to produce test kits that can diagnose COVID-19 in four hours

Business News, Health, ,

Thermo Fisher Scientific, the world’s largest manufacturer of laboratory equipment, has announced that it has received emergency authorization to produce coronavirus test kits that can diagnose within four hours.

The company — based out of Waltham, Mass., with West Coast headquarters in Carlsbad — said the Food and Drug Administration’s approval late Friday will allow them to provide the high-speed tests to hospitals and laboratories, diagnosing as many as 5 million people a week, according to a statement.

“The authorization of our diagnostic test for COVID-19 will help to protect patients and enable medical staff to respond swiftly to treat those who are ill and prevent the spread of infection,” Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific, said in a statement.

Read entire article HERE.

Bloomberg: Jones Act waiver floated as a stimulus for U.S. oil companies

Business News, Energy

U.S. oil companies battered by the crude price war between Saudi Arabia and Russia are encouraging the Trump administration to waive a law that mandates only American vessels can be used to transport goods among U.S. ports.

A temporary waiver of that law, known as the Jones Act, “can allow American producers to move domestic products with greater ease within the U.S.,” the American Exploration and Production Council said in a letter sent to congressional leaders Thursday and seen by Bloomberg. The group represents independent oil companies that have announced plans to scale back operations as Russia and Saudi Arabia flood the world with crude, including Parsley Energy Inc., Chesapeake Energy Corp. and Pioneer Natural Resources Co.

Read entire article HERE.

Aftenposten: Ny Roche koronatest åpner for massetesting i Norge

Business News, Health, Pharmaceutical, ,

Den første av to nye maskiner som gjør det mulig å teste langt flere nordmenn for koronasmitte, ble fredag satt opp ved Oslo universitetssykehus på Ullevål.

Den andre Sveits-produserte maskinen kommer til Norge fra Tyskland mandag. Den skal stå ved Akershus universitetssykehus (Ahus).

Dette er et nytt og svært viktig bidrag i kampen mot koronaepidemien i Norge.

En av de store svakhetene i både norsk helsevesen og resten av verden, har vært svært lav testkapasitet. Selv om Norge er blant landene som tester flest, har mange mennesker er blitt nektet testing de siste ukene.

Les hele saken HER.