Sanofi, Regeneron shares Pop, information exhibits bronchial asthma drug Dupixent can deal with COPD

A logo on the Sanofi exhibition space at the Viva Technology conference on innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 15, 2022.

Benoît Tessier | Reuters

shares of Sanofi And Regeneron both rose more than 6% on Thursday after the pharmaceutical companies released promising data showing their jointly developed asthma drug Dupixent also shows promise in treating COPD patients.

New data from a phase III clinical trial shows that Dupixent reduced severe attacks of chronic obstructive pulmonary disease, or COPD, by 30% compared to placebo over 52 weeks. The drug is already approved for asthma and some skin conditions like eczema, but could become the first new treatment for COPD in over a decade.

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COPD is a life-threatening respiratory disease that causes progressive deterioration of lung function, with symptoms such as persistent cough and shortness of breath that can affect a person’s ability to perform daily activities. According to the World Health Organization, it caused 3.2 million deaths worldwide in 2019, making it the third leading cause of death. Smoking is a major risk factor for COPD, but people who quit smoking can also develop the disease.

The study enrolled COPD patients with type 2 inflammation – an allergic reaction that can lead to reduced lung function. According to Regeneron, around 300,000 people with COPD are living with type 2 inflammation in the United States alone.

The more than 900 study participants were current or ex-smokers, and those who received Dupixent showed improvements in lung function, quality of life and respiratory symptoms. These results are a win for Dupixent as competing COPD drugs from drugmakers like AstraZeneca and GSK struggle to make successful strides toward approval.

“Change cannot come fast enough for people with uncontrolled COPD, but unfortunately many investigational treatments have not shown significant clinical outcomes, leaving limited treatment options available to these vulnerable patients,” said Dr. Dietmar Berger, Sanofi’s Chief Medical Officer, in a company press release. “We are excited to share these unprecedented and potentially paradigm-shifting clinical results that could bring renewed hope to patients, caregivers and physicians.”

The companies said a second phase 3 study of Dupixent in COPD is ongoing, with data expected in 2024.

Chris Schott, an analyst at JP Morgan, said Dupixent’s recent results have beaten expectations.

“This benefit indicates a clear, clinically meaningful advantage for Dupixent and should support broad adoption of the asset in this segment of the COPD market,” Schott wrote in a research note to clients on Thursday. He added that JP Morgan expects new COPD patients to contribute $1.5 billion to $2 billion in new sales for Dupixent.

Dupixent generated $8.7 billion in sales for Regeneron last year, up 40% from 2021.

Cowen analyst Steve Scala had a similar take on the new data, noting that COPD represents a major market opportunity for the drug.

“We expect a solid post-approval uptake from Dupixent,” he wrote in a note Thursday, adding, “We are very encouraged by positive data in COPD, which becomes a blockbuster opportunity for Dupixent and its growth trajectory through 2030+.” could extend.”

Rachel Bilson and Nick Viall admit they faked their romance

Rachel Bilson never really accepted Nick Viallis rose.

The OC actress, who sparked romance rumors with Nick in 2019 after they exchanged flirtatious messages on social media, recently came clean about her relationship with the Bachelor Nation member. Spoiler alert: there wasn’t one.

“No, Nick and I have never been together,” Rachel admitted on Nick’s The Viall Files podcast on March 21, adding, “We trolled the internet.”

Rachel clarified that they’re just “playing around — not together, but I mean with the internet,” while Nick explained that the duo were “epically single and we wanted the attention.” And no, their ruse “never got to a point” where they actually felt inclined to date, Rachel said.

Nick explained that the idea of ​​a fake relationship came to his mind after becoming “good friends” with Rachel when she appeared on his podcast in July 2019. After that, the two considered doing a spin-off podcast.

Ex-Morgan Stanley adviser charged with alleged NBA dishonest

Courtney Lee #5 and Chandler Parsons #25 of the Houston Rockets arrive together during their game at the Staples Center April 6, 2012 in Los Angeles, California.

Andrew D Bernstein | National Basketball Association | Getty Images

Former MorganStanley Advisor Darryl Cohen was arrested Thursday morning for allegedly cheating on current and former NBA players including Jrue Holiday, Chandler Parsons and Courtney Lee.

Cohen is charged with one count of conspiracy to commit wire fraud and one count of wire fraud, according to federal prosecutors. Each charge carries a prison sentence of up to 20 years. He also faces an investment advisor fraud charge, which carries a maximum five-year prison sentence. Three others, including former NBA player agent Charles Briscoe, have also been charged.

In the indictment, which was unsealed Thursday, the Justice Department alleged that Cohen and the others were involved in fraud schemes to wire around $13 million from NBA customers for personal use. The DOJ found that $7 million of that was allegedly misappropriated only by Briscoe and Calvin Darden Jr., who previously pleaded guilty to separate wire fraud charges.

The players were not named in the DOJ’s announcement. Her identity was confirmed by a person familiar with the matter, who declined to be identified given the sensitive nature of the case.

The DOJ alleged that Cohen and his alleged co-conspirators tricked the three clients into purchasing overpriced life insurance policies, which Cohen later used to renovate his home and pool, pay his credit card bills, and give money to a romantic partner.

Prosecutors also alleged that Cohen directed the basketball players to give donations to a nonprofit organization, which he ultimately used to build athletic facilities in his backyard.

“These defendants believed that defrauding their professional athlete clients of millions of dollars would be a reprieve. That was a huge mistake and they now face serious criminal charges for their alleged crimes,” Damian Williams, the US Attorney for the Southern District of New York, said in a Thursday announcement.

Cohen was an advisor to Morgan Stanley from 2015 to 2021, according to his Financial Industry Regulatory Authority profile. The DOJ said in its indictment document that the alleged fraud schemes took place from approximately 2017 to 2020. Morgan Stanley fired Cohen in 2021 for “transactions not disclosed by Morgan Stanley or authorized by Morgan Stanley and using an unauthorized platform to engage in inappropriate communications with clients,” according to the FINRA filings.

“We have fully cooperated with the investigation and resolved clients’ claims regarding Mr. Cohen,” Morgan Stanley said in a statement. “Mr. Cohen was fired from the firm in March 2021 and has since been banned from the securities industry by FINRA.”

The Securities and Exchange Commission also charged Cohen Thursday with defrauding Holiday, Parsons and Lee of over $1 million.

Cohen’s attorney, Brandon Reif, did not immediately respond to a request for comment.

The three basketball players had previously filed claims against Morgan Stanley with FINRA. These cases were later settled. Phil Aidikoff, representing Holiday, Parsons and Lee, declined to comment due to confidentiality agreements in the FINRA settlements.

Correction: This story has been updated to reflect that there were multiple alleged schemes that resulted in a total of $13 million in scams.

Yellen says blanket financial institution deposit insurance coverage is just not being mentioned

The US Treasury Secretary testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC.

Win Mcnamee | Getty Images

WASHINGTON — Federal bank regulators are not considering plans to insure all U.S. bank deposits without congressional approval, Treasury Secretary Janet Yellen told members of a Senate Appropriations subcommittee on Wednesday.

Several banking groups and consumer advocates have called for some form of universal deposit insurance after the government refunded most uninsured deposits at two California banks that collapsed earlier this month Silicon Valley Bank and based in New York signature bank.

When asked directly whether the Treasury Department would bypass Congress to insure all deposits, Yellen replied, “I have not considered or discussed anything to do with blanket insurance or guarantees on all deposits.”

Yellen was speaking to senators during a hearing on Capitol Hill to review the Treasury Department’s 2024 budget proposal.

The statement caused the stock market to fall and regional bank stocks to fall.

Congress has sweeping authority over the FDIC insurance limit, currently set at $250,000 under the Dodd-Frank financial reforms. Congress can also temporarily suspend the limit, as it did in 2020 as part of the government’s response to Covid-19.

This time, only a handful of Democrats have openly suggested that Congress consider raising the limit on all deposits. Meanwhile, an influential bloc of Republicans in the House of Representatives has already spoken out against a rate hike. This makes it difficult to imagine how a bill raising the limit would pass through the GOP-controlled House.

In Washington, the emergency deposit guarantees for SVB and Signature have sparked heated debate over whether big banks that have taken excessive risks will get a special bailout, while smaller institutions are being forced to face a rush of withdrawals – sparked by public fears big banks – will be without special help.

“I’m very concerned,” said Republican Maine Senator Susan Collins. “It seems to me that all deposits are guaranteed [at SVB] that you create a situation where they are immune to losses… in a way that puts the well-run community bank at a competitive disadvantage. So I guess my question to you is, how is that fair?”

Yellen said regulators didn’t think about giving one bank an advantage over another at the time. At the time, they were thinking about “the impact on the broader banking system due to the potential for contagion,” she said.

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However, this explanation was not enough to satisfy small and medium-sized banks.

“If policymakers decide to offer unlimited deposit insurance to some institutions, they can’t leave out others — certainly not the community banks, which, as always, have been operating on a safe and sound footing,” said Rebeca Rainey, CEO of the Independent Community Bankers of America , said in a recent statement.

While Yellen ruled out universal blanket guarantees for deposits, she seemed open to other ways to help smaller banks offer additional insurance for large deposits.

A voluntary idea of ​​West Virginia Senator Joe Manchin was the creation of a system where depositors holding cash over the $250,000 limit set by the Federal Deposit Insurance Corp. could pay slightly higher bank charges, similar to an insurance premium, secure an increased level of FDIC coverage.

“Shouldn’t I be able to buy or pay a slightly higher bank fee to get protection … capped at maybe $10 million?” Manchin told Yellen near the end of her testimony. “We talked…some senators talked back and forth…and I don’t think we should [craft legislation] without you all being involved and showing us how to structure it.”

“I think it’s very worthwhile for you and your colleagues to discuss what is appropriate here,” Yellen replied. “And we’d be more than willing to work with you to think this through.”

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She added: “Right now we are trying to stabilize the situation with the means at our disposal.”

Those efforts are beginning to bear fruit, Yellen told a group of bankers on Tuesday. She said that “total deposit outflows from regional banks have stabilized.”

But while trends are moving in the right direction, the amount of money banks borrowed from the Fed’s discount window in the week ended March 15 set a record $153 billion, according to the Fed’s weekly bulletin, a total which indicates that the banking sector is not yet entirely stable.

Clarification: This story has been updated to clarify that Yellen made her comment about “flat-rate insurance” when answering a senator’s question about whether the Treasury Department would bypass Congress to insure all deposits.

FDA advisers vote in opposition to efficacy of Biogen’s ALS drug

A pedestrian walks past Biogen Inc.’s headquarters in Cambridge, Massachusetts, on Monday, June 7, 2021.

Adam Glanzmann | Bloomberg | Getty Images

The Food and Drug Administration’s independent advisory panel voted against the effectiveness of on Wednesday biogenic ALS drug under investigation for a rare and aggressive form of the disease.

The drug Tofersen was developed to treat a rare genetic form of amyotrophic lateral sclerosis, or ALS. Three advisers voted for effectiveness, five against, and one abstained.

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“Unfortunately, the presented study did not meet the primary and secondary endpoints,” said Dr. Liana Apostolova, a professor of neurology at Indiana University School of Medicine, who voted against Tofersen’s effectiveness.

However, the panel unanimously agreed that the drug could have clinical benefit by reducing a protein linked to the severity of the disease.

Michelle Mielke, a professor of epidemiology at Wake Forest University School of Medicine who voted for the drug, acknowledged the data is not entirely conclusive, but said, “There are several aspects of the data that point to strong clinical evidence .”

“And again, my decision also took into account the fact that there really is an unmet need,” she added.

Expedited approval is an FDA designation that approves drugs faster when they meet an unmet medical need for a serious medical condition. Such approval would require Biogen to further study the drug to confirm its clinical utility.

The FDA generally follows the advice of its advisory committees, but is not required to do so. A final decision will be made on April 25th.

ALS, most commonly known as Lou Gehrig’s disease, is a progressive and fatal neuromuscular disease that causes nerve cells in the brain and spinal cord to deteriorate over time, causing people to lose muscle control, they need to move, talk, breathe and eat. The disease eventually leads to paralysis and even death, and generally affects people between the ages of 40 and 70.

The drug targets a form of ALS in people with mutations in a specific gene that is passed down through generations within families. These mutations can cause a protein called SOD1 to build up to toxic levels, which can ultimately damage the nervous system and lead to the development of ALS.

According to Biogen, only a few thousand people worldwide have been diagnosed with this SOD1 mutation, or about 2% of the 168,000 people who have ALS worldwide. In the US, that number is even lower, with about 330 people affected by the SOD1 mutation. The median survival time from diagnosis with the rare form of ALS to death is 2.7 years, according to the company.

The SOD1 mutation is associated with 20% of cases occurring within families.

Families affected by ALS are hoping the drug could pave the way for more research to tackle the disease’s cause, potentially leading to new treatments for the estimated 5,000 new people in the US diagnosed with ALS each year. Globally, researchers at the National Institutes of Health expect ALS cases to increase by almost 70% to approximately 376,000.

Review of mixed efficacy data

The FDA accepted Biogen’s application for full approval of Tofersen in July. In October, the agency extended the review of the application by three months.

The advisory panel relied on controversial data from a phase III clinical trial of Tofersen. The drug failed to slow the progression of ALS in this study, but both Biogen and FDA staff noted the potential limitations of the study. The duration of the study was 28 weeks, which may not have been enough time to observe the effect of Tofersen on disease progression.

The panel focused on evaluating Tofersen’s effect on key proteins associated with the development of ALS. According to an FDA review of the company’s data, the SOD1 protein levels of patients in the study who received Tofersen decreased by 26% to 38% compared to those who received placebo.

But the panel specifically focused on the drug’s effect on another key protein called neurofilament light, or NfL. High levels of the protein are found in a variety of neurological conditions, such as ALS, and are linked to disease severity and progression in patients, according to the FDA review.

Biogen’s phase 3 study found that people who received Tofersen experienced a 55 percent reduction in NfL levels by week 28 of the study, compared with an average increase of 12 percent for people who received placebo. An ongoing study of Tofersen had similar results: People who received the drug in the phase 3 study maintained their lowered NfL levels over time.

Those who received a placebo during the phase 3 study but switched to Tofersen in the extension study saw a 44% drop in NfL levels, the FDA review added.

In a unanimous vote, the panel said Tofersen’s reduction in NfL likely predicts the drug’s clinical utility in people with SOD1-ALS.

“It appears that NFL is bad for neurons and is associated with neuronal death, so if it’s lower then neuronal death should be lower,” said Dr. David Weisman, Director of the ANA Clinical Research Center.

The FDA staffers, who presented their review of Biogen’s data ahead of the panel vote, also said these “convincing reductions” in NfL are expected to result in a slower decline in patients.

The panel also considered Tofersen’s safety data. In the phase 3 study, the most common adverse events associated with the drug were pain in the joints and muscles, and fatigue.

According to the FDA review, about 18% of people who received Tofersen experienced serious adverse events compared to 14% of people who received the placebo. However, FDA staff noted that many of the reported events are related to “underlying disease progression” and not to Tofersen use. None of the adverse events were fatal.

Public Requests for Consent

During public comments, Alison Burell said her family believes Tofersen significantly slowed the progression of the disease in her husband Cory, who died from the rare form of ALS in 2019. He participated in Biogen’s early clinical trial on Tofersen and continued taking the drug after the trial was completed, which Burell believes extended his life by another six months.

“Tofersen gave Cory time with his boys, made memories and showed them that they never give up,” Burrell said. “I ask that you commend your agreement to support Tofersen. Please give hope to others with SOD1.”

Cassandra Haddad also asked the panel to recommend approval, noting that her family has a SOD1-ALS “body count” of 33. She said her late mother was the youngest member to be diagnosed with the rare form of the disease, but took Tofersen to extend her life by several months and “gave us this precious time together.”

“It’s a miracle, the miracle of having access to a drug that specifically targets our genetic mutation and extends our lives,” Haddad said. She added that she herself participated in Biogen’s ongoing Tofersen study called ATLAS and is being monitored for ALS symptoms.

“We all know that early intervention leads to better outcomes. Without Tofersen, I have no chance of survival and no hope,” Haddad said, adding, “Today, you have the power to help me and the legacy of my family’s death.”

Further research on Tofersen ahead

Biogen outlined its plans to review Tofersen’s benefits if the drug receives accelerated FDA approval. The company will collect data from ATLAS, which aims to study whether the drug can help delay the onset of ALS in patients with the SOD1 mutation.

The study started in 2021 and includes 150 participants, which is nearly 50% of the SOD1-ALS population to date, Biogen said. The Company also plans to continue evaluating data from the ongoing extension of the Phase 3 clinical trial, which is expected to conclude in 2024.

“Biogen is committed to confirming the clinical utility of Tofersen in SOD1-ALS as soon as possible,” said Stephanie Fradette, Biogen’s director of clinical development and leader of the ALS portfolio.

Correction: FDA advisors voted against Tofersen’s effectiveness. A previous version of this story misrepresented the exact nature of this vote.

42 Dugg needs to be sentenced to five years imprisonment after pleading responsible

It looks like Detroit-raised rapper 42 Dugg may be facing a long prison sentence.

RELATED: 42 Dugg arrested after failing to surrender to serve six-month jail sentence

The Detroit News reports that 42 Dugg, whose government name is Dion Hayes, has officially pleaded guilty after pleading guilty to illegal possession of a firearm last year and serving a six-month prison sentence.

42 Dugg has been behind bars anywhere from 6 months to 5 years

While prosecutors have agreed to recommend a six-month sentence for the rapper, the presiding judge – William Ray II – may be able to override the recommendation and sentence Hayes to up to 5 years in prison.

In addition, upon his release, 42 Dugg agreed to participate in a 30-day inpatient drug treatment program. This is followed by a 30-day outpatient program.

The sentencing is scheduled for May 10 and there are no further updates at this time.

4️⃣2️⃣ pic.twitter.com/9aKDLLpXRy

— 42Dugg (@42_Dugg) February 17, 2021

42 Dugg got into trouble after the ATF received a tip

According to The Detroit News, these legal troubles date back to November 2019, when the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) received a tip that Dugg — who had previously served time on carjacking and firearms charges — had a gun fired at a shooting range in Atlanta.

This allegation was confirmed by CCTV footage, and the rap star was eventually arrested and charged with gun possession in March 2020.

He was later sentenced to three years probation. However, after being caught repeatedly violating the terms of his parole, he was ordered to surrender in a federal prison camp for 6 months.

Ultimately, his failure to comply with that order landed him in further trouble, although the exact implications will not be clear until he is sentenced later this year.

What are your thoughts on the legal situation of 42 Dugg?

FAA broadcasts plan to keep away from flight delays in NYC, DC this summer season

A United Airlines at LaGuardia International Airport in New York.

Adam Jefferies | CNBC

The Federal Aviation Administration on Wednesday announced measures to try to avoid a repeat of disruptions at airports serving New York City and Washington DC this summer as they deal with a shortage of air traffic controllers at a key facility in the area has to fight.

The agency said it will reduce flight requirements for airline takeoff and landing rights to avoid congestion. Airlines have until April 30 to submit requests to give up take-off and landing slots.

The waiver would last from May 15 to September 15.

Airline executives have repeatedly complained about air traffic control deficiencies, which have contributed to flight disruptions as air travel bounced back from pandemic lows in recent years. Airlines also reduced their flight schedules last summer to avoid delays as they deal with their own staffing issues and other pressures.

The FAA said it expects increased delays this summer in the New York City area compared to last year, forecasting a 45% increase in delays on 7% growth in operations.

United Airlines said it will seek a waiver for specific use of takeoff and landing contingents at the three largest New York-area airports and Ronald Reagan Washington National Airport. In a letter to FAA Acting Administrator Billy Nolen on Wednesday, United said it would deploy aircraft with more seats to compensate for the reduced number of flights and offer alternative flights to affected customers.

Delta Airlines welcomed the FAA’s action.

“Delta is reviewing our network to ensure the best customer experience throughout the summer travel season, and we are committed to working with the FAA on measures to ensure the safety and efficiency of operations at NY/NJ airports,” the airline said in an explanation .

Later this month, the FAA will hold a summit with airlines about other ways it can alleviate disruption in the region. A similar event took place in Florida last year when passengers faced delays attributed to bad weather, high demand and congestion due to issues like space launches and military exercises.

Moderna CEO Stephane Bancel testifies earlier than Senate on Covid vaccine worth hike

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Moderna CEO Stephane Bancel testifies before the Senate Health Committee Wednesday about the pricing of the company’s Covid-19 vaccine.

The Boston-based biotech plans to charge $130 per dose once the vaccination program moves to the private market as early as this fall. Sen. Bernie Sanders, I-Vt., Chair of the Health Committee, hit out Modern in a letter to Bancel in January, in which he called the price increase “outrageous”.

Join us for CNBC’s Healthy Returns on March 29, where we’re hosting a virtual gathering of healthcare CEOs, scientists, investors and innovators to reflect on the advances made today in reinventing the future of medicine. We also have an exclusive look at the best investment opportunities in biopharma, healthcare technology and managed care. Learn more and register today: http://bit.ly/3DUNbRo

After Sanders sent the letter, Moderna said it would create a utility to keep the vaccine free for people who are uninsured or underinsured.

People who have Medicare, Medicaid, or private insurance should still get the shot for free, but Sanders said the price hike “will cost taxpayers billions of dollars.”

Trump has a meltdown, principally confirming that Jack Smith has proof of his crimes

Trump responded to reports that Special Counsel Jack Smith had evidence he committed crimes by confirming the information.

ABC News reported that a federal judge found that Smith had presented compelling evidence that Trump had committed crimes and willfully lied to his attorneys about being in possession of classified documents. The special counsel was able to present evidence that Trump committed crimes.

Trump’s campaign responded by blasting ABC for reporting the leak:

Trump campaign statement on fake ABC news story pic.twitter.com/bHVLFOqvEB

— Liz Harrington (@realLizUSA) March 21, 2023

Trump complained that ABC was covering the leak, then lashed out at Russia and concluded by saying there was nothing against him.

The American people have seen this statement before. The first thing Donald Trump does when a story is true is call it false, and then he goes back to the original Trump/Russia scandal and concludes by repeating that the story is false while attacking the outlet that she reported.

Donald Trump essentially confirmed the story by attacking the information source. If the story wasn’t true, Trump could say the story was false or say nothing at all.

The first page of Trump’s playbook is to attack the report’s credibility, but every time he engages in this behavior he affirms the accuracy of the reporting.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

TWICE’s Chaeyoung apologizes for sporting swastikas on T-shirts

Chaeyoung offers an apology.

The South Korean rapper who is a member of girl group TWICEShe released a message after posting a photo of herself wearing a T-shirt with a swastika graphic in a now-deleted Instagram post.

“Hello, this is Chaeyoung from TWICE. My sincere apologies for the Instagram post,” the 23-year-old wrote in a statement shared on Instagram on March 21. “I didn’t quite get the meaning of the tilted swastika in the t-shirt I was wearing. I deeply apologize for not reviewing it thoroughly, which is a matter of concern.”

Chaeyoung continued by saying that she will make different decisions in the future.

“I will be absolutely vigilant in the future to ensure a similar situation doesn’t happen again,” she wrote. “Again, sincerely apologize.”

Chaeyoung’s t-shirt in the since-deleted photo featured an image from the ’70s sex gunsSid Vicious wearing a top with a swastika on it, per Billboard.

The girl group TWICE with Chaeyoung, Nayeon, jeongyeon, mummy, A lot, Ji Hyo, mine, Dahyun And tzuyuwas formed in 2015 in the reality show Sixteen created by JYP Entertainment and Mnet.