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World Bank President David Malpass says billions of people will have their livelihoods affected....
The U.S. District Court for the District of New Jersey has ruled in favor of Teva Pharmaceutical Industries Ltd. (TEVA) in a patent infringement lawsuit regarding a generic version of Narcan nasal spray for the treatment of opioid overdose.Claims from four patents related to Narcan were found to be invalid, according to the ruling by a New Jersey federal judge. The lawsuit, filed by Opiant Pharmaceuticals Inc. (OPNT) and Emergent BioSolutions Inc. (EBS) alleged that Teva’s generic version of Narcan nasal spray infringes the drug’s patent.In reaction to the decision, Opiant said that its commercial partner Emergent BioSolutions, intends to appeal the decision at the Court of Appeals for the Federal Circuit.Narcan, a life-saving medication that can stop or reverse the effects of opioid overdose, was developed by Opiant and licensed to Adapt Pharma, which was has been bought by Emergent BioSolutions. Since 1999, more than 400,000 Americans have died from...
(Bloomberg Opinion) -- Saudi Arabia called out the cheats at yesterday’s OPEC meeting — the countries that hadn’t fully reduced oil output in May as agreed — and extracted promises that they would compensate with even deeper reductions in the third quarter. Now the kingdom faces the group’s perennial problem of enforcing those promises.The meetings of the Organization of Petroleum Exporting Countries and the bigger OPEC+ group, which includes Russia and nine other countries, were the shortest and least controversial since the latter collective was formed in 2016. It’s not that there was no drama; it just all took place in the days before the virtual gatherings.The drama centered around the failure of key countries to make all the output cuts they had promised when the group met by videoconference the previous month. Of the 20 countries participating in that deal, 19 agreed to reduce their production by 23% from agreed-upon baselines. Only Mexico held out, and eventually the others...
(Bloomberg) -- In one of the world’s biggest diamond vaults, hidden inside a nondescript office compound on the dusty outskirts of Botswana’s capital, the precious stones just keep piling up.Owner De Beers, which mines and auctions most of its gems in the southern African nation, has barely sold any rough diamonds since February. Neither has Russian rival Alrosa PJSC. Now, as the coronavirus restrictions that froze the global industry for months begin to lift, the unsold diamonds present a dilemma: how to reduce billions of dollars’ worth of stocks without undermining the nascent recovery.The pandemic has devastated the diamond world. Jewelry stores closed their doors, India’s cutting and polishing artisans were forced to stay home and De Beers had to cancel its March sale because buyers couldn’t travel to view the merchandise.De Beers and Alrosa have moved to defend their market. The miners refused to cut prices, instead allowing buyers unprecedented...
Almost half a century since he died, Bruce Lee's legacy lives through his martial arts style and philosophy which influence fans and followers alike. Among those inspired by him are Jason Tobin, a Hong Kong actor who now stars in a television series inspired by Lee’s writing; Fernando Junior from Brazil, who opened a martial arts gym in honour of Lee’s philosophy; and Evan Tam, a fan who has collected thousands of items about the martial arts star. Born on November 27, 1940, Lee is widely…...
Mexico will not join other top oil producers in extending through July output cuts aimed at propping up the price of crude, Energy Minister Rocio Nahle said on Saturday. Made up of OPEC members and allies led by Russia, the group known as OPEC+ agreed in April to cut oil supply by 9.7 million barrels per day (bpd) in May and June to support prices. Under that deal, Mexico pledged to reduce its crude output by 100,000 bpd in May and June, after resisting pressure from other oil producers to make cuts of 400,000 bpd....
After last week’s big moves across the global financial markets, the FED and geopolitics will be in focus along with a sprinkle of economic data…...
