AbbVie (ABBV) and Roche’s (RHHBY) Genentech have revealed positive results from the Phase III VIALE-A study, evaluating Venclexta (venetoclax) with azacitidine in people with previously untreated acute myeloid leukemia (AML) who were ineligible for intensive induction chemotherapy.The results were featured in the 25th European Hematology Association Virtual Congress Press Briefing on June 13.“The significant survival benefits observed in the VIALE-A study reinforce the potential utility of this Venclexta-based combination for people with this aggressive disease” commented Levi Garraway, CMO at Genentech.Indeed, AML is the most common type of aggressive leukemia in adults, which has the lowest survival rate for all types of leukemia. In 2020, it is estimated there will be nearly 20,000 new cases of AML diagnosed in the US, with many older AML patients unable to tolerate intensive induction chemotherapy treatment.Results from the VIALE-A study showed that the Venclexta combination reduced the risk of death (overall survival [OS]) by 34% compared...
(Bloomberg) -- Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills.Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to $100 on some days but often coming home with almost nothing. While the restaurant is trying to slowly reopen, Lovely reckons the best he can hope for is a part-time position, requiring him to keep his second job if he’s going to meet his expenses.“My job stopped, but the bills don’t,” he said.Lovely’s experience goes to the heart of the dilemma facing the world economy as it gradually emerges from the virus-enforced lockdown and unprecedented recession: How many of the millions of lost jobs are gone for good?The hope is the waves of stimulus doled out by governments and central banks...
(Bloomberg) -- Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills.Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to $100 on some days but often coming home with almost nothing. While the restaurant is trying to slowly reopen, Lovely reckons the best he can hope for is a part-time position, requiring him to keep his second job if he’s going to meet his expenses.“My job stopped, but the bills don’t,” he said.Lovely’s experience goes to the heart of the dilemma facing the world economy as it gradually emerges from the virus-enforced lockdown and unprecedented recession: How many of the millions of lost jobs are gone for good?The hope is the waves of stimulus doled out by governments and central banks...
AT&T (T) is considering selling its Warner Bros. Interactive Entertainment gaming unit for around $4 billion to reduce its heavy debt burden, people familiar with the matter have told CNBC.According to the sources, potential buyers include major gaming companies Take-Two Interactive Software (TTWO), Electronic Arts (EA) and Activision Blizzard (ATVI). However, they added that no deal is assured or imminent at this point.One option for a deal could include a commercial licensing agreement which would allow AT&T to continue to drive revenue from its intellectual property, CNBC reported.However VentureBeat reported a separate source suggesting a price closer to $2 billion because the gaming division does not own some of the key franchises at the core of its major games like “Harry Potter” and “Game of Thrones.”Warner Bros. Interactive Entertainment is made up of 10 game studios including TT Games, and owns the “Mortal Kombat” and the “Scribblenauts” series. It was snapped up by AT&T as...
(Bloomberg) -- Iraq has asked BP Plc to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.The deposit, near the southern oil hub of Basra, produces almost 1.5 million barrels a day.The Organization of Petroleum Exporting Countries and its partners decided to reduce production by around 10 million barrels daily until at least the the end of July to prop up prices. Iraq provoked the ire of Saudi Arabia and Russia by missing its target in May, when it pumped more than 600,000 barrels a day above its quota of 3.6 million barrels, according to data compiled by Bloomberg.Iraq and other countries including Nigeria and Angola agreed at an OPEC+ meeting on June 6 to start complying and compensate...
