Philip Morris International Brings on Former Sanofi Exec as Chief Life Sciences Officer

Esan Bolaji
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Philip Morris International Brings on Former Sanofi Exec as Chief Life Sciences Officer

Jan. 11, 2021 – Philip Morris International Inc. (PMI) today announced the appointment of Jorge Insuasty to the position of Chief Life Sciences Officer, effective Jan. 15, 2021. Mr. Insuasty will report to the company’s CEO, André Calantzopoulos.

“Jorge’s wealth of experience across both the pharmaceutical and consumer healthcare industries makes him the ideal candidate to succeed John O’Mullane, who is retiring,” said Calantzopoulos.

“Jorge is a transformational leader in science and medicine and excels in driving product portfolio development through to market success. Science and a consumer-focused product portfolio are the cornerstones of our ambition to replace cigarettes with products that are a better choice than continued smoking. Jorge’s impressive track record will help ensure we reach our goals and take full advantage of adjacent revenue-generating opportunities.”

Mr. Insuasty joins PMI from Sanofi S.A., where most recently he was the Global Franchise Head of Immunology, Oncology, and Neurology for Sanofi Genzyme. During his nine-year tenure at Sanofi, he led the company’s product pipeline strategy, from candidate selection through the development and regulatory review processes, with a dozen novel drugs approved.

He orchestrated significant transformational change within the R&D and commercial functions to substantially increase speed and efficiency, fostered external collaboration and innovation, and was highly engaged with the investor community. Overall, he played a pivotal role in the turnaround of Sanofi’s R&D efforts.

Prior to Sanofi, Mr. Insuasty spent eight years at Novartis International AG as Global Head of Development, Neuroscience, and Ophthalmology. Before that, he was VP, Research and Development, Consumer Medicines at Bristol Myers Squibb. Mr. Insuasty holds an MD in cardiology from the University of Paris.

“I am very excited to join PMI,” said Insuasty. “The company’s transformation and smoke-free vision represent a tremendous public health opportunity and a business challenge, both of which I will be thrilled to contribute. And I also look forward to developing adjacent future growth drivers.”

This appointment follows the recent announcement that John O’Mullane, PMI’s current Chief Life Sciences Officer, will retire.

“We thank John for the enormous contributions he has made these last two years, driving innovation and rigour into our life sciences function, and we wish him well in his retirement,” added Calantzopoulos.

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company, and its shareholders.

Experts Advocate Use of Quality Pillows for Proper Spine Alignment

Esan Bolaji
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Experts Advocate Use of Quality Pillows for Proper Spine Alignment
Experts have advocated using quality pillows for proper spine alignment during sleep to prevent aches and pains that can be detrimental to physical and mental wellbeing.

They have also strongly recommended Mouka brand of pillows, and mattresses, because of their high quality, having met the ergonomic standards.

These were the submission of Dr. Onigbinde Ayodele Teslim, National President, National Association of Orthopaedic Manual Therapists (NAOMT) and Dr Nnenna Chigbo, PT. President, Nigeria Society of Physiotherapy (NSP) while urging Nigerians to maintain a healthy sleep culture for better wellbeing.

Experts Advocate Use of Quality Pillows for Proper Spine Alignment

Teslim pointed out that poor ergonomic compliance in most mattresses and pillows result in unhealthy sleep due to aches and pains from their usage. This situation also leads to poor postural alignments and deformities.

The NAOMT President stated that to maintain spine neutrality, quality pillows, like those of Mouka, should align the neck with other body parts to support good posture. “There are several pillow brands in the market, but only Mouka that NAOMT is currently satisfied with have met the ergonomic standard. This is why we recommend them to consumers,” he said.

Teslim, an Associate Professor of Orthopaedic Rehabilitation and Pharmacophysiotherapy at Obafemi Awolowo University, stressed that non-usage of pillows during sleep results in uneven pressure distribution in the neck muscles. This is why some individuals may experience neck pain, stiffness, and headaches, affecting work performance and economic wellbeing.

“Mouka is the standard for comfortable mattresses and pillows which can prevent pains and poor postural alignment. The team of experts in NAOMT have assessed the production protocols and finished products of Mouka and have found that they met the international standard. The durability, quality and ergonomic compliance are satisfactory,” he posits.

In the same vein, Dr. Chigbo said specific cells that help fight infection in the body increases significantly during healthy sleep, and quality mattresses and pillows determine a great deal how well one sleeps, as the body needs to align with them.

She affirmed that pillows like those of Mouka, keep the upper body aligned, thereby relieving pressure and counterbalance the joints in the body.

“When you are not comfortable on the mattress or pillow, it will affect the quality of your sleep, and this can be detrimental to your physical and mental health,” she said.

According to her, the NSP strongly recommends Mouka’s Wellbeing range of orthopaedic mattresses and quality pillows because of the reliable quality the company has exhibited over the past 60 years. “We have evaluated Mouka’s manufacturing processes, and we are confident they meet international standards,” Chigbo enthused.

Both experts advised that consumers should always replace their pillows every 1-2 years.

TAJBank Finances School’s Infrastructural Development in Akwa Ibom (Photos)

Esan Bolaji
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TAJBank Finances School’s Infrastructural Development in Akwa Ibom (Photos)

…Minister of Niger Delta Affairs Urges TAJBank to Open Branch in Uyo

TAJBank, Nigeria’s most innovative Non-Interest Bank has reaffirmed its commitment to the development of education in the country.

This occurred at the recent commissioning of new infrastructure at Saint John Paul School, Akwa Ibom State with several dignitaries in attendance such as Senator Godswill Akpabio, Minister of Niger Delta Affairs, Chairman of the school, Her Excellency, Mrs. Uloma Akpabio, The Sole Administrator, Niger-Delta Development Commission, NDDC, Mr. Akwa Efiong, and other dignitaries.

TAJBank Finances School’s Infrastructural Development in Akwa Ibom Brandspurng1

The special guest of honour and Minister of Niger Delta Affairs, Senator Godswill Akpabio, commended the Bank for believing in the vision of the school and accepting to provide financing for the expansion of the institution’s infrastructures.

This, he said, was an evident indication of the Bank’s willingness to collaborate with credible bodies in its drive to contribute to the significant improvement of the nation’s education sector.

TAJBank Finances School’s Infrastructural Development in Akwa Ibom Brandspurng1

Senator Akpabio also urged the Bank to open a branch in Uyo as a priority once it gains its national license.

Representing TAJ Bank at the event, Mr. Nasir .T. Usman, acknowledged the strides that the leadership of Saint John Paul School Akwa Ibom has made to fill the gap of quality education in Nigeria, taking into cognizance critical factors such as the need for affordability to the general populace.

He noted that the results were evident in the school’s nine years of existence as it had succeeded in moulding students of great intellectual output and high moral standing.

In just over one year of operations, TAJBank has recorded several milestones. Recently, the Bank was awarded Bank of the Year by Leadership Newspapers Group for its performance and efforts in driving financial inclusion at the grassroots.

TAJBank offers an array of products and service offerings which are widely available to customers. Some of these products include Partnership (Mudarabah) Term Deposit, Lease (Ijarah) Finance, Partnership (Mudarabah) Savings/Current Accounts, Qard Savings and much more.

Nigeria’s Gross Official Reserves Declined by US$40m in Dec 2020 to US$35.37bn

Esan Bolaji
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Nigeria’s Gross Official Reserves Declined by US$40m in Dec 2020 to US$35.37bn

We learn from CBN data that Nigeria’s gross official reserves declined by USD40m in December to USD35.37bn. Since the disbursement of IMF loan proceeds of about USD3.4bn in May to tackle the external shock of the Covid-19 virus, the CBN has almost held the line on reserves, with a decline of USD1.22bn over seven months.

This achievement has to be qualified with the caveat that a pipeline of delayed external payments has developed since late March, estimated at USD3bn by the IMF. A good proportion of the pipeline consists of the repatriation proceeds of exiting foreign portfolio investors (FPIs).

FX supply at the Investors’ and Exporters’ (I&E) window has picked up over the past three months thanks to flows from local sources (the CBN and local non-bank corporates, principally). That said, the level seen in December was less than half that in the ‘normal’ month of February when fx was available for all end-users.

Total reserves at end-December covered 7.5 months’ merchandise imports per the balance of payments (BoP) for the 12 months to end-June, and 4.8 months when we include imported services.

For FPIs there are obvious parallels to be drawn with Egypt. Both countries secured the condition-free IMF credit to tackle external shocks. Further, Egypt has signed up for an orthodox Fund programme, which for many investors has helped it to develop a better credit story. There are no payments pipeline and EM investors have returned in numbers to its local financial markets.

In 2019/20 (July-June) Egypt posted a services surplus of USD9.0bn, compared with Nigeria’s deficit of USD28.2bn in the same period.

CBN’s series shows merely FX without SDR holdings and gold. It does not provide any colour on its swap arrangements. At the end of September Fitch estimated such obligations at USD5.4bn. The CBN does share movements on swaps (inflows and outflows) in one of its quarterly publications but not the underlying stock.

For South Africa, FX and gold reserves together totalled USD55.0bn at end-December. We then deduct FX deposits (which were part of FX reserves), the forward position and other transactions to arrive at the figure of USD52.1bn for the international liquidity position in the chart.

The year has opened well for the EM universe in terms of FPI flows. We hear from our good friends at FBN (UK) that net global inflows ytd have amounted to USD2.0bn for bonds and USD2.6bn for equities.

Dangote Cement Completes Tranche 1 of its Share Buy Back Program

Esan Bolaji
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Dangote Cement Completes Tranche 1 of its Share Buy Back Program

Dangote Cement Plc hereby announces the completion of the first tranche of its share buy-back programme (the “Share Buy-Back Programme”) which was announced on 21 December 2020.

Relevant details of this Tranche I are set forth below:

Dangote Cement Plc Completes Tranche 1 of its Share Buy Back Program

Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404. Execution of this Tranche I did not have any material impact on the Company’s financial position.

The Company will continue to monitor the evolving business environment and market conditions, in making decisions on further tranches of the Share Buy-Back Programme.

Dangote Cement Brandspurng Export Potentials Underscore Positive Topline Outlook
Photographer: Tom Saater/Bloomberg

South Korea Reports Population Drop, With More Deaths Than Births For First Time

Brand Spur
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South Korea Reports Population Drop, With More Deaths Than Births For First Time

South Korea recorded more deaths than births in 2020 for the first time ever, prompting calls for action to revive the country’s falling fertility rate.

For years, South Korea has struggled with a growing demographic crisis. The country’s fertility rate — the average number of children a woman will have in her lifetime — has repeatedly hit record lows and ranks near the bottom of the lowest fertility rates in the world. Meanwhile, South Korea’s population continues to age, sending the country into a demographic decline.

South Korea's fertility rate ranks among the lowest in the world.
South Korea’s fertility rate ranks among the lowest in the world.

But last year’s census data, released by the Ministry of Interior and Safety on Monday, appears even more alarming.

There were only 275,815 births, a record low — compared to 307,764 deaths, a 3.1% increase in fatalities from the previous year. This is the first time South Korea has hit the “population death cross,” when the number of deaths surpasses births, the ministry said in a news release — and the first time the total population has shrunk.

The population continues to age rapidly, the census showed: 32.7% of people are in their 40s and 50s, and nearly a quarter are over the age of 60.

“The constant decline in birth rate shows that low birth rate remains as a big issue in Korea,” the release said. “There needs to be a fundamental change in governmental policies such as welfare, education, and national defence, accordingly.”

The release didn’t mention causes of death, or how much the Covid-19 pandemic influenced last year’s figures. The pandemic has killed 981 people in South Korea so far, according to a tally by Johns Hopkins University.

But Korean experts have previously warned that the pandemic could skew the number of births and deaths — both because of the higher number of Covid-related deaths, and because the circumstances of the pandemic could discourage couples from having children.

In a report published in December 2020, the Central Bank of Korea warned that the country’s falling birth rates and ageing population would likely “accelerate” due to the impact of Covid-19. The pandemic caused greater job and income insecurity for young adults in their 20s and 30s — potentially disrupting their plans to start a family.

Economic and personal anxieties may cause them to delay having children; in some cases, a temporary postponement on childbirth could turn permanent, said the report.

The bank warned that South Korea may soon have the highest proportion of elderly people in the world, and urged stronger policies and childbirth incentives to sustain the country’s economy.

Other countries with low fertility rates have also seen their demographic difficulties deepen during the pandemic. Japan, which has struggled for years with low birth rates and an ageing population, saw the number of reported pregnancies and marriages fall in the first half of 2020.

In October, Japanese Minister of State for Measures for Declining Birthrate Tetsushi Sakamoto told reporters that the pandemic might be discouraging people from getting pregnant and starting families.

There are similar reasons behind both Japan and South Korea’s population decline — a major one being a demanding work culture that makes it difficult to balance careers with family life.

There is also a trend to delay or avoid marriage. In 2018, a majority of South Koreans aged 20 to 44 were single, according to the Korea Institute for Health and Social Affairs (KIHSA). Among those who were not dating, 51% of men and 64% of women said they chose not to date so they can enjoy their hobbies or focus on education. Many say they just don’t have the time, money, or emotional capacity to go on dates.

In an effort to combat the falling birth and marriage rates, South Korea’s government has implemented a number of initiatives and policies. In 2018, the government lowered maximum working hours from 68 hours a week to 52 hours last year, with some experts pointing to the declining fertility rate as a motivator.

More recently in December, the government released its 4th Basic Plan for Low Fertility and Aging Society, which lays out their plans for population policy over the next five years, including offering cash bonuses for childbirth, subsidies for childcare, and expanded benefits for multi-child families.

This article appeared first on CNN

Sanofi to acquire Kymab, adding KY1005 to its pipeline.

Esan Bolaji
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Sanofi to acquire Kymab, adding KY1005 to its pipeline.

Continues to build on Sanofi’s leading presence in immunology aligned with strategy to pursue best-in-class treatments in defined areas

PARIS and CAMBRIDGE, UK – January 11, 2021 – Sanofi and Kymab, a clinical-stage biopharmaceutical company developing fully human monoclonal antibodies with a focus on immune-mediated diseases and immuno-oncology therapeutics, have entered into an agreement under which Sanofi will acquire Kymab for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones.

The transaction will result in Sanofi having full global rights to KY1005, a fully human monoclonal antibody that has a novel mechanism of action. KY1005 binds to OX40-Ligand and has the potential to treat a wide variety of immune-mediated diseases and inflammatory disorders.

Sanofi offers to acquire Kiadis, a clinical-stage company developing cell-based immunotherapy products
Sanofi seen in Cambridge, Massachusetts, on Oct. 5, 2018. (Ruby Wallau for STAT)

“The Kymab acquisition adds KY1005 to our dynamic pipeline, a potential first-in-class treatment for a range of immune and inflammatory diseases. The novel mechanism of action may provide treatment for patients with suboptimal responses to available therapies,” said Paul Hudson, Sanofi Chief Executive Officer. 

“We understand from our ongoing work in debilitating immunological diseases how critical it is to find the right treatment for each patient. We look forward to rapidly developing this investigational medicine.” 

“The agreement is a testament to the commitment, drive and expertise of the entire Kymab team and we are pleased to receive this endorsement from Sanofi,” added Simon Sturge, Chief Executive Officer, Kymab. “With its significant global resources, we believe Sanofi is the perfect partner to progress Kymab’s pipeline of products and the merger will expedite the time it takes for our novel therapies to get to patients.” 

KY1005: Promising antibody for inflammatory disorders

In August 2020, Kymab announced that KY1005 met both primary endpoints in a Phase 2a trial studying moderate to severe atopic dermatitis patients whose disease is inadequately controlled with topical corticosteroids. KY1005 demonstrated a consistent treatment effect versus placebo across various key endpoints, including in the Eczema Area and Severity Index (EASI) and additional objective clinical measures.

“This acquisition aligns with our strategy of targeting fundamentally important disease pathways.  We believe that OX40L, a key immune regulator, has the potential to rebalance the immune system without suppressing it, providing a promising new approach to treating a range of immune-mediated diseases,” said John Reed, M.D. Ph.D., Global Head of Research & Development at Sanofi.

Kymab’s pipeline also includes the oncology asset KY1044, an ICOS agonist monoclonal antibody, currently in early Phase 1/2 development as monotherapy and in combination with an anti-PD-L1. The acquisition also provides Sanofi with access to new antibody technologies and research capabilities.

Transaction Terms

Under the terms of the transaction, Sanofi will acquire Kymab for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones.

Sanofi plans to finance the transaction with cash on hand. The closing of the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. Sanofi expects to complete the acquisition in the first half of 2021.

Weil, Gotshal & Manges LLP is acting as Sanofi’s legal counsel. J.P. Morgan is acting as financial advisor to Kymab and Goodwin PLC is acting as its legal counsel.

Dun & Bradstreet Completes Acquisition of Bisnode

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Dun & Bradstreet Completes Acquisition of Bisnode

Dun & Bradstreet Holdings, Inc., a leading global provider of business decisioning data and analytics, through its subsidiary Dun & Bradstreet Holdings BV, today announced that it has completed its acquisition of Bisnode Business Information Group AB, a leading European data and analytics firm and long-standing member of the Dun & Bradstreet Worldwide Network, for an enterprise value of 7.2B SEK.

The transaction was closed with a combination of approximately $625 million net cash, and 6,237,089 newly issued shares of common stock of the Company in a private placement. Bisnode Belgium NV, a Belgian subsidiary of Bisnode, will remain under Ratos AB ownership.

Dun & Bradstreet Enters Into Agreement to Acquire Bisnode, a Leading European Data & Analytics Business Brandspurng
Dun & Bradstreet Enters Into Agreement to Acquire Bisnode, a Leading European Data & Analytics Business | www.brandspurng.com

Anthony Jabbour, Chief Executive Officer at Dun & Bradstreet said,

“I want to welcome our Bisnode colleagues to the Dun & Bradstreet team. This acquisition represents a wonderful opportunity to strengthen our global portfolio and to bring together unique assets which enable us to better serve our current clients and future prospects,” 

“The Bisnode territories include some of the most strategic countries in Europe and the combination of our data, analytics and solutions will allow us to bolster our international growth strategy. With these combined assets, we are well-positioned to address the needs of clients seeking to grow their business, increase efficiencies and reduce their risk exposure.”

This combination of leading and trusted brands will support businesses during a time in which the challenges of a disruptive macro environment have made data and analytical insights and shifts to digital business even more critical.

The combined businesses, with nearly 250,000 clients collectively, will now be able to provide mission-critical solutions to help clients monitor counterparty risk in order to minimize exposure, while at the same time extending credit and targeting prospect universes of trusted and solvent buyers.

Neeraj Sahai, President of Dun & Bradstreet International said,

“In Bisnode we found a team who shares our mission to help companies compete, grow and thrive. We at Dun & Bradstreet have been supportive of them as prior members of our Worldwide Network, and we are ready to take the next step in our journey together,”

“We look forward to expanding into new, attractive mission-critical business areas and quickly expanding our Dun & Bradstreet solution offerings in the region consistent with our growth strategy. With the guidance of our newly formed International Strategic Advisory Board, we will hit the ground running to deliver for clients both current and prospective.”

With the transaction close, Dun & Bradstreet has established an International Strategic Advisory Board, formed to support the Dun & Bradstreet International leadership team by providing strategic advice.

The International Advisory Board is to be Chaired by Neeraj Sahai, with the inclusion of Jonas Wiström, Chief Executive Officer for Ratos AB. Additional appointments to the Board will be announced later in the quarter.

The company will be providing 2021 guidance and the synergy plan for Bisnode at its fourth-quarter earnings call.

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses.

Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal the opportunity.

QR Code Payment Users to Reach 2.2 Billion Globally by 2025, as Services Expand Beyond China & India

Esan Bolaji
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QR Code Payment Users to Reach 2.2 Billion Globally by 2025, as Services Expand Beyond China & India

11th January 2021: A new study from Juniper Research has found that the total number of QR code payment users will exceed 2.2 billion in 2025, up from 1.5 billion in 2020; equating to 29% of all mobile phone users across the world in 2025.

The report predicts that much of this growth will be within emerging markets, where weak card infrastructure creates a strong opportunity. However, the research also found that the US will see strong growth of 240% in user numbers between 2020-2025, as QR code payments tap into the need for cashless payments stimulated by the pandemic.

QR Code Payment Users to Reach 2.2 Billion Globally by 2025, as Services Expand Beyond China & India

The research identified PayPal’s roll-out of QR payments and its partnership with CVS as key drivers of the renaissance of QR payments within the US market.

Boosting Merchant Acceptance Essential to Growing Ecosystem

The new research, QR Code Payments: Key Opportunities, Regional Analysis & Market Forecasts 2021-2025, identified that QR codes’ ability to combine payments and loyalty make them ideal for retailers seeking to leverage valuable transactional data. The low-cost nature of these solutions will enable the growth of QR code payments to reach over $2.7 trillion globally in 2025.

Research author Nick Maynard explains: ‘QR code payments have low acceptance costs versus contactless payments, meaning that they are highly competitive and appealing to retailers in emerging markets, which lack card infrastructure. However, the low costs mean that accepting QR codes alongside cards is also viable. Partnerships in developing markets will be critical to driving QR adoption.’

National QR Code Payment Schemes Driving Growth

The research found that national QR code payment standards, such as SGQR in Singapore, will be major accelerators to the growth of QR code payments. By 2025, national QR code payment schemes will account for 22% of all QR code payments by volume, compared with just 8% in 2020.

The research recommends that national regulators make QR schemes a priority, to ensure widespread digital payments adoption and interoperability of payment methods.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Lekoil Appoints New Chairman As Mark Simmonds Resigns

Esan Bolaji
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Lekoil Appoints New Chairman As Mark Simmonds Resigns

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that following the resignation of Mark Simmonds, the Board has appointed Mr. Michael Ajukwu as Chairman with immediate effect.

Lekoil Appoints New Chairman As Mark Simmonds Resigns
Mark Simmonds

Michael Ajukwu commented: 

“I am honoured to assume the position of Chairman of LEKOIL and would like to thank my predecessor, Mark Simmonds, for his contributions to the Company. I look forward to working with my colleagues on the Board and the management of LEKOIL to deliver a high performing company anchored on strong governance structures that produces value for all shareholders.”

LEKOIL is a Cayman incorporated company, headquartered in Lagos which is focused on African oil exploration and production with interests in Nigeria and offshore Namibia

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