GE HealthCare Invests $138 Million in Cork, Ireland Manufacturing Facility to Address Increasing Contrast Media Demand

 CHALFONT ST. GILES, England - Friday, 31. January 2025 AETOSWire  

New $138 million facility at GE HealthCare’s Cork manufacturing site will enable 25 million more patient doses of contrast media per year by the end of 2027i

Demand for CT and X-Ray contrast media, used to enhance medical imaging procedures globally, is estimated to double in the next ten yearsii

Investment will create additional capacity to cater for growing demand, while offering increased flexibility and resiliency for security of supply

 

(BUSINESS WIRE) -- GE HealthCare (Nasdaq: GEHC) today announced a $138 million investment to expand its Carrigtohill, Cork contrast media fill and finish manufacturing site in Ireland. A new state-of-the-art facility on the grounds of the existing site will enable 25 million more patient doses per year of contrast media by the end of 2027, helping address growing global demand.

Contrast media are injectable diagnostic imaging agents used to enhance visualization of organs, blood vessels and tissues during medical imaging. Global demand for iodine-based contrast media, used in X-Ray, Computed Tomography (CT) and Interventional procedures is expected to double in the next decade, driven by ageing populations and the increasing global prevalence of chronic disorders. In 2024, the Carrigtohill facility, along with GE HealthCare’s other fill and finish production sites in Shanghai, China, and Oslo, Norway, supplied over 100 million patient doses of contrast media around the worldiii.

The new 3000m2 facility - which will support both established and pipeline products – will include solution preparation vessels, multi-functional powder handling systems, a new filling line and autoclaves, with advanced automation systems underpinning production. Once established, the additional capacity will cater for the growing global demand, while offering increased flexibility and resiliency across GE HealthCare’s contrast media production network for security of supply.

President & CEO of GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment, Kevin O’Neill, said, “As an industry leader we have a responsibility to help meet the growing global demand for contrast media from healthcare providers and their patients. This new facility demonstrates our broader commitment not just to address future demand, but also to increase resiliency and security of industry supply for customers.”

Eugene Barrett, Site Leader and Managing Director, GE HealthCare Ireland, said: “This expansion strengthens our longstanding presence in Cork, where we have a highly skilled team, access to leading talent in the pharmaceutical industry, strong distribution links around the world and a great partnership with IDA Ireland. First doses from our new facility are expected by the end of 2027 and we are proud of the impact our site will continue to make for patients around the world.”

An Taoiseach Micheál Martin T.D. said, “GE HealthCare has been manufacturing in Ireland for more than 30 years, and has invested extensively in the Carrigtohill site and the people working here. I am delighted to welcome this significant new investment here in Cork, which is testament to the commitment of GE HealthCare in Ireland, and also to our highly skilled workforce.”

IDA Ireland Executive Director Michael Lohan said, “This is the latest of GE HealthCare’s investments in its Cork site which has been producing vital pharmaceuticals for over 30 years. The continued growth and development of the site is testament to its commitment to serving patients and to Ireland’s leadership and support for the pharmaceutical industry.”

All stages of GE HealthCare’s contrast media manufacturing, from development of Active Pharmaceutical Ingredient (API) to finished product, adhere to Good Manufacturing Practices. With over 4000 employees globally, the PDx business also develops and supplies radiopharmaceuticals used to support diagnosis, monitoring and treatment selection across Neurology, Cardiology and Oncology clinical pathways. Across its portfolio, PDx enables four patient procedures every second globally.

Engineering firm, IPS-Integrated Project Services, will lead the project with enabling construction works starting at the Carrigtohill facility in February 2025, and over 250 construction roles expected to be created.

About GE HealthCare Technologies Inc.

GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 125 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Advanced Visualization Solutions, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000 colleagues working to create a world where healthcare has no limits.

Follow us on LinkedIn, X, Facebook, Instagram, and Insights for the latest news, or visit our website https://www.gehealthcare.com for more information.

i GE HealthCare data on file – Cork Capacity Investment, 2025

ii GE HealthCare data on file – Pharmaceutical Diagnostics Contrast Media Capacity and Investment, 2025

iii GE HealthCare data on file – Pharmaceutical Diagnostics Contrast Media Capacity and Investment, 2025

 

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Contacts

GE HealthCare Media Contact:

David Morris

M +00 44 7920 591 370

David.j.morris@gehealthcare.com

Svante Selected for US DOE Funding to Advance Carbon Capture in the Pulp & Paper Industry

 SEATTLE & VANCOUVER, British Columbia - Friday, 31. January 2025 AETOSWire


    The U.S. Department of Energy's (DOE) Industrial Efficiency and Decarbonization Office (IEDO) has selected Svante’s Pre-FEED (Preliminary Front End Engineering Design) study for a commercial-scale carbon capture project to negotiate a cost-sharing agreement of up to US$1,499,889.
    The project represents a transformational approach for the pulp & paper industry as it will create additional value from its sustainable biomass to remove carbon dioxide from the atmosphere.

 

(BUSINESS WIRE) -- Svante Technologies Inc. (Svante), a leader in next-generation carbon capture and removal technology, today announced that it is developing a first-of-a-kind carbon capture and storage project at the Ashdown Pulp Mill facility in Arkansas.

This project is a critical step toward deploying Svante’s next-generation carbon capture technology for the pulp and paper industry, demonstrating the ability to generate high-quality carbon dioxide removal (CDR) credits and enhance the sustainability of the industry’s operations. The project has been selected by the U.S. Department of Energy's (DOE) Industrial Efficiency and Decarbonization Office (IEDO) for negotiation of a cost-sharing agreement of up to US$1,499,889 (Pending Award Number: DE-FE0032652). The DOE funding will support Svante and project partners Paper Excellence and Wood in conducting a Pre-FEED (Preliminary Front End Engineering Design) study to evaluate post-combustion carbon capture from the recovery boilers’ flue gas at the Ashdown pulp mill.

Svante's revolutionary rotary solid sorbent system, powered by advanced Metal-Organic Framework (MOF)-based filter technology offers distinct advantages, including:

    Significant CO2 Capture Cost Reductions: Svante’s unique ability to use low-grade waste heat for the carbon capture process significantly reduces energy consumption and overall cost of capture.

    Modular, Simple Capture Plant Design: Svante’s modular capture plant design reduces capital costs, minimizes the impact on existing factory operations, and facilitates seamless integration with pulp mills.

    Environmental Responsibility: Svante’s solid sorbent nanomaterials are intrinsically benign and avoid harmful secondary emissions and liquid waste/effluents, ensuring a cleaner, safer method of carbon capture. Further, Svante’s filter materials are engineered for sustainable production and recyclability.

Once the project reaches final investment decision (FID), it will be transformational for the pulp and paper industry as it will enable the following:

    Remove up to 1.5 million tonnes of biogenic CO2 as the project will target CO2 originating in the atmosphere via sustainable biomass, rather than “anthropogenic” or man-made CO2.

    Unlock new revenue streams through carbon dioxide removal (CDR) credits in the voluntary credit market, representing a compelling business case for the pulp and paper industry.

    Demonstrate Svante’s carbon capture technology unique advantage for application in the pulp and paper sector.

Claude Letourneau, President & CEO of Svante commented “The pulp and paper industry represents a unique opportunity for technology and nature to work in tandem to remove CO2 from the atmosphere. Svante's MOF-based carbon capture technology has the potential to revolutionize how industrial facilities manage their emissions, and we are confident that this project will pave the way for wider industry adoption.”

Earlier this month, Tenaska and Svante announced they had signed a Memorandum of Understanding to collaborate on end-to-end carbon capture and storage projects. Tenaska has multiple Class VI applications under review with a commitment to offering sustainable and economic CCS pathways across the United States, including the Sugarberry CCS Hub in Texas.

About Svante

Svante is a purpose-driven, leading carbon capture and removal solutions provider. The Vancouver, Canada-based company manufactures nanoengineered filters and modular rotary contactor machines that capture and remove CO2 from industrial emissions and the air in an environmentally responsible manner. Svante is on the 2025 Global Cleantech 100, the XPRIZE Foundation’s XB100 – World’s Top 100 Deep Tech Companies and was ranked second among private companies in the Corporate Knights’ Future 50 Fastest Growing Sustainable (Private) Companies.

For more information, visit www.svanteinc.com and follow Svante on LinkedIn at www.linkedin.com/svantesolutions.

 

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Contacts

Media Contact
Colleen Nitta
Director, Marketing & Communications
Svante
+1-604-970-2813
cnitta@svanteinc.com

Ferrer is Recognized for Its Best-in-class Ethics and Compliance Program

 BARCELONA, Spain - Thursday, 30. January 2025 AETOSWire Print 

Ferrer achieves Compliance Leader Verification™, the prestigious recognition granted by Ethisphere

Following an exhaustive review of its ethics and compliance program, the company reaffirms its commitment to the highest standards of integrity and business ethics

The recognition reinforces Ferrer's purpose of using business to fight for social justice

 

(BUSINESS WIRE) -- Ferrer has achieved Compliance Leader Verification™, the prestigious recognition granted by Ethisphere, which distinguishes the pharmaceutical company as a global leader in upholding ethical and responsible corporate practices in its business operations.

Ethisphere is a leading organization dedicated to advancing ethical business practices, and its recognition acknowledges organizations with an outstanding commitment to robust ethics and compliance programs.

The Compliance Leader Verification™ was awarded after an extensive and rigorous review conducted by Ethisphere's verification team. This process included a current state analysis referencing Ferrer’s responses to Ethisphere’s Ethics Quotient® (EQ) questionnaire, benchmarking Ferrer’s ethics and compliance program against the World’s Most Ethical Companies®, document review, and interviews with executives and team members across the organization.

Specifically, Ferrer's performance was evaluated on six key areas: program resources and structure; perceptions of ethical culture; written standards; training and communication; risk assessment, monitoring and auditing; and enforcement, discipline, and incentives.

The verification—currently considered a global standard of excellence—acknowledges organizations that implement best practices in business integrity. This milestone highlights Ferrer's commitment to business ethics, sustainability, and transparency in all its processes, going beyond legal standards through exemplary management practices.

“We are extremely proud to have achieved this recognition, which reflects our commitment to the highest standards of integrity and business ethics and reaffirms our purpose: using business as a force to fight for social justice,” said Meritxell Casas, Chief Legal, IP & Compliance Officer at Ferrer. “This honor is a testament to the tireless work of our team in integrating ethics and integrity into every aspect of our operations.”

According to Jodie Fredericksen, Senior Compliance Counsel from Ethisphere, “This recognition underscores Ferrer’s leadership and commitment to excellence in ethics and compliance. Our team was impressed with their dedication to fostering a corporate culture based on transparency and accountability, practices that serve as a model for organizations worldwide.”

More information about Compliance Leader Verification is available at https://ethisphere.com/what-we-do/leader-verification/

About Ethisphere

Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Companies turn ethics, compliance, and culture into a business advantage by leveraging Ethisphere’s data-driven program and culture assessments featuring the latest guidance and the practices of hundreds of global organizations across the 8 pillars of an ethical culture, and 240+ ethics, compliance, social, and governance data points delivered through a proprietary software platform. Ethisphere also honors superior integrity programs through World’s Most Ethical Companies® recognition, brings together a community of industry experts with the Business Ethics Leadership Alliance (BELA), and advances ethical business practices through the Global Ethics Summit, Ethisphere Magazine and the Ethicast podcast.

For more information, visit https://ethisphere.com.

About Ferrer

At Ferrer we use business to fight for social justice. We have long been a company that looks to do things differently; instead of maximizing shareholder returns, we reinvest much of our profit in initiatives that give back to society. Back where it belongs. We go beyond compliance and are guided by the highest standards of sustainability, ethics and integrity. As such, since 2022, we are a B Corp.

Founded in Barcelona in 1959, Ferrer offers transformative solutions for life-threatening diseases in more than one hundred countries. In line with our purpose, we have an increasing focus on pulmonary vascular and interstitial lung diseases and rare neurological disorders. Our 1,800-strong team is driven by a clear conviction: our business is not an end in itself, but a way to change lives.

We are Ferrer. Ferrer for good.

www.ferrer.com

 

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Contacts

Additional information and interview requests:

Ferrer

Gorka Ortiz de Zárate

Communication Advisor

gortizdez@ferrer.com

+34 93 600 3779

IMCAS 2025: New Galderma Phase IIIb Data Reinforce Rapid Onset and Long-lasting Aesthetic Improvement with RelabotulinumtoxinA (Relfydess™)

 

• First results from the phase IIIb RELAX clinical trial reinforce the high and sustained efficacy of single treatment of RelabotulinumtoxinA (RelfydessTM) for moderate to severe frown lines (glabellar lines) beyond 6 months
• These results reinforce RelabotulinumtoxinA’s 6-month clinical effect and rapid onset from Day 1 demonstrated in the phase III READY clinical trial program1,2
• Data also show high and sustained patient satisfaction with treatment outcomes and appearance beyond 6 months1
• Developed and manufactured by Galderma, RelabotulinumtoxinA is the first and only ready-to-use liquid neuromodulator developed using PEARLTM Technology that is optimized for simple volumetric dosing to increase ease-of-use3,4,5

(BUSINESS WIRE)--Galderma (SWX:GALD), the pure-play dermatology category leader, announced today results from its new phase IIIb RELAX clinical trial demonstrating the rapid onset and the long-lasting duration of aesthetic efficacy, as well as high patient satisfaction and increased confidence, using a single-dose of RelabotulinumtoxinA (Relfydess) to treat frown lines (glabellar lines)1. Galderma’s analysis was presented at the International Master Course on Aging Science (IMCAS) 2025 annual congress, held in Paris from January 30 to February 1, 2025.

Developed and manufactured by Galderma, RelabotulinumtoxinA is the first and only ready-to-use liquid neuromodulator created with PEARL Technology that is designed to preserve molecule integrity to deliver a highly active, innovative, complex-free molecule3,4,5. Previously announced data from the phase III READY clinical trial program demonstrated rapid onset as soon as Day 1 (reported by up to 39% of subjects) and long-lasting efficacy for 6 months (maintained by up to 75% of subjects) when using RelabotulinumtoxinA to treat frown lines and crow’s feet (lateral canthal lines) 2,6.

“We are proud to share our latest RelabotulinumtoxinA data, which reaffirms the sustained clinical effect and patient satisfaction observed in our READY clinical trial program. These findings, together with our proprietary PEARL Technology, reinforce RelabotulinumtoxinA as a safe, effective, and innovative treatment option, and uphold Galderma’s position at the forefront of aesthetic advancements.”

BALDO SCASSELLATI SFORZOLINI, M.D., Ph.D.

GLOBAL HEAD OF R&D

GALDERMA

RELAX is a phase IIIb, multicenter, randomized, double-blind, placebo-controlled clinical trial designed to evaluate the long-lasting efficacy and satisfaction of RelabotulinumtoxinA in 132 adults with moderate-to-severe frown lines over a 12-month period1,7.

• Results supported a fast onset of aesthetic improvement at Day 1 (40%; subject-reported) and a duration of effect through 6 months1.
• Subject satisfaction with treatment and appearance was also high, with 92% of subjects satisfied with treatment outcome at Month 1, 69% satisfied at Month 6, and 60% still satisfied at Month 121.
• Furthermore, at both Month 6 and at Month 12, more than 50% of subjects reported that they had increased self-confidence and looked great for their age, highlighting sustained benefits of RelabotulinumtoxinA over time1.
• Investigators reported high rates of ≥1-grade improvement from baseline, with the highest responder rates at Month 1 (98%), and improvement in GL severity maintained through Month 6 (57%) and Month 9 (28%). RelabotulinumtoxinA continues to be well tolerated with no treatment-related serious adverse events1.

 

“I’m excited to see the continued benefits of RelabotulinumtoxinA highlighted in the RELAX study, in my practice. With onset from Day 1 coupled with sustained efficacy and high satisfaction for 6 months, healthcare professionals will be able to address a real need from patients, by offering them the fast acting and long-lasting results they desire, in an easy-to-use liquid formulation, with two treatments a year.”

GLYNIS ABLON, M.D., F.A.A.D.

ASSOCIATE CLINICAL PROFESSOR

UNIVERSITY OF CALIFORNIA, LOS ANGELES

 

Following the successful completion of the European Decentralized Procedure, resulting in a positive decision for the use of Relfydess (RelabotulinumtoxinA), Galderma already received national approvals in 14 European countries, as well as a marketing authorization from Australia’s Therapeutic Goods Administration and the Medicines and Healthcare products Regulatory Agency in the UK.

More details on Galderma’s scientific presentations at IMCAS can be found here.

About RelabotulinumtoxinA

Pioneered by Galderma, RelabotulinumtoxinA is the first and only ready-to-use liquid neuromodulator created with PEARL Technology that is designed to preserve molecule integrity4,5. PEARL Technology is designed to deliver a highly active, innovative, complex-free molecule, with up to 39% of patients seeing effects from day one and up to 75% of patients maintaining improvements for 6 Months3,4,5,6. RelabotulinumtoxinA is optimized for simple volumetric dosing, without reconstitution, to increase ease-of-use and help ensure consistent dose/volume every time4,5. It was entirely developed and manufactured by Galderma to expand its neuromodulator portfolio as part of the broadest Injectable Aesthetics portfolio on the market.

About Galderma

Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: www.galderma.com.

References:

1 Prather HB, et al. Efficacy and safety of a novel formulation liquid botulinum toxin, RelabotulinumtoxinA, when used for combination treatment of glabellar and lateral canthal lines. E-poster presented at: ASDS 2024; October 17-20, 2024; Orlando, FL

2 Ibrahim SF, et al. RelaBoNT-A treatment of glabellar lines and lateral canthal lines across different ethnicity and race: Pooled data from three phase III studies. E-poster presented at: ASDS 2024; October 17-20, 2024; Orlando, FL

3 Sundberg AL and Stahl U. Relabotulinum toxin - a novel, high purity BoNT-A1 in liquid formulation. Presented at: TOXINS 2021; Jan 16-17, 2021; virtual meeting

4 Do M, et al. Purification process of a complex-free highly purified botulinum neurotoxin type A1 (BoNT-A1) - relabotulinumtoxinA. Presented at: TOXINS 2022; July 27-30, 2022; New Orleans, LA

5 Persson C, et al. Patient and Investigator Treatment Experience with Ready-to-Use AbobotulinumtoxinA Solution Versus Powder BotulinumtoxinA for Treatment of Glabellar Lines. Abstract presented at TOXINS 2024; Jan 17-20, 2024, Berlin

6 Based on a literature search conducted in May 2023 across PuBMED, clinicaltrials.gov, and euDRACT

7 Galderma. Data on file. Clinical Study Report for Protocol QM111: RELAX. Galderma Laboratories

 

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Contacts

For further information:

Christian Marcoux, M.Sc.

Chief Communications Officer

christian.marcoux@galderma.com

+41 76 315 26 50

Sébastien Cros

Corporate Communications Director

sebastien.cros@galderma.com

+41 79 529 59 85

Emil Ivanov

Head of Strategy, Investor Relations, and ESG

emil.ivanov@galderma.com

+41 21 642 78 12

Jessica Cohen

Investor Relations and Strategy Director

jessica.cohen@galderma.com

+41 21 642 76 43

Flutter and Aviator Agree on a Long-term Commercial Partnership

 TBILISI, Georgia - Friday, 31. January 2025

(BUSINESS WIRE) -- Flutter Entertainment (Flutter) and Aviator LLC (404612610) (Aviator) have agreed on a long-term commercial partnership, which will see Aviator-branded online games being marketed and distributed internationally by Flutter.

As part of the deal both parties have agreed to settle their outstanding legal dispute.

 

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Contacts

Nikoloz Gogilidze, info.aviator@mikadze.ge

 

NetApp Science- Based Sustainability Goals Validated by SBTi

SAN JOSE, Calif. - Thursday, 30. January 2025

SBTi has validated NetApp’s near-term science-based targets, underscoring its commitment to decarbonization

(BUSINESS WIRE) -- NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced that it has approved new near-term science-based emissions reduction targets verified by the Science-Based Targets initiative (SBTi). These targets demonstrate NetApp’s unwavering commitment to making sustainability a crucial component of our business resilience strategy and leading the storage industry to help customers meet their energy efficiency goals.

SBTi develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels. To date, more than 4000 companies have validated science-based goals to reduce GHG emissions with commitments from nearly 3000 more to set targets.

NetApp, Inc. commits to reduce absolute scope 1 and 2 GHG emissions 50.8 percent by FY2030 from a FY2020 base year. NetApp, Inc. also commits to reduce scope 3 GHG emissions from use of sold products 51.6 percent per effective petabytes shipped by FY2030 from a FY2023 base year. SBTi has classified NetApp’s scope 1 and 2 target ambition as in line with a 1.5°C trajectory.

These targets expand and replace the decarbonization goals NetApp set in 2022. NetApp has already made progress toward its sustainability targets, reducing scope 1 and scope 2 emissions by 37 percent compared to its 2020 baseline, as reported in NetApp’s FY24 Environmental, Social, and Governance (ESG) Impact Report.

“The validation of our decarbonization targets by SBTi helps our customers rest assured that they can trust NetApp to execute a data strategy with intelligent data infrastructure that not only drives innovation but also builds a sustainable future,” said Nicola Acutt, Chief Sustainability Officer at NetApp. “We continue to drive sustainability in everything we do, not just reducing emissions, but all the way from integrating more sustainable materials and designs into our products and packaging down to our data management solutions. For us a sustainable digital future starts with data, and we are proud to be at the forefront of this transition.”

In addition to driving reduced emissions for its own operations, NetApp is helping customers advance their own energy efficiency goals. NetApp BlueXP users can gain visibility into their operations by accessing the sustainability dashboard, which provides AIOps-enabled reporting and scoring with actionable insights to reduce cost and improve their sustainability performance. Learn more at: https://docs.netapp.com/us-en/active-iq/get_started_sustainability_dashboard.html

To view NetApp’s commitment to reducing GHG emissions on the SBTi dashboard, visit: https://sciencebasedtargets.org/companies-taking-action

Additional Resources

    Expanded Emissions Reduction Targets Will Deliver Long-Term Customer Value

    Our Commitment to Sustainability

    NetApp’s Commitment to ESG Impact: FY24 in Review and Bright Future Goals

    Gain Powerful Insights and Guidance to Reach Your Sustainability Goals

About NetApp

NetApp is the intelligent data infrastructure company, combining unified data storage, integrated data services, and CloudOps solutions to turn a world of disruption into opportunity for every customer. NetApp creates silo-free infrastructure, harnessing observability and AI to enable the industry’s best data management. As the only enterprise-grade storage service natively embedded in the world’s biggest clouds, our data storage delivers seamless flexibility. In addition, our data services create a data advantage through superior cyber resilience, governance, and application agility. Our CloudOps solutions provide continuous optimization of performance and efficiency through observability and AI. No matter the data type, workload, or environment, with NetApp you can transform your data infrastructure to realize your business possibilities. Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. We develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Our partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

www.sciencebasedtargets.org @sciencetargets

 

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Contacts

Media Contact:
Kenya Hayes
NetApp
kenya.hayes@netapp.com

Investor Contact:
Kris Newton
NetApp
kris.newton@netapp.com

Takeda Delivers Strong Third-Quarter FY2024 Results; Raises Full Year Outlook, Forecasting Revenue and Core Operating Profit Margin Growth

 OSAKA, Japan - Thursday, 30. January 2025 AETOSWire


    Revenue Growth of +9.8% at Actual Exchange Rates (AER); +4.5% at Constant Exchange Rate (CER) Driven by Strong Momentum of Growth & Launch Products (+14.6% at CER)
    Core Operating Profit Increase of +10.1% at CER; Core OP Margin Climbs to 28.5%
    Reported Operating Profit +86.3% at AER Reflects Lower Impairment of Intangible Assets Compared to FY2023
    Raises Adjusted Free Cash Flow Forecast Range by JPY 150.0 billion to JPY550.0 - JPY650.0 billion
    Announces Share Buyback of up to JPY 100.0 billion

 

(BUSINESS WIRE) -- Takeda (TOKYO:4502/NYSE:TAK) today announced earnings results for the third quarter of fiscal year 2024 (nine months ended December 31, 2024) showing continued advancement of its Growth & Launch Products, which delivered double-digit growth of 14.6% at CER. The company has upgraded its full year outlook for growth, reflecting strong year-to-date product performance and OPEX efficiencies, as well as revised foreign exchange assumptions.

Takeda continues to advance multiple late-stage programs and is on track for three Phase 3 data readouts within the calendar year 2025. The company expects three regulatory filings in FY2025-FY2026 and five additional regulatory filings in FY2027-FY2029. Six of these late-stage programs are estimated to have the potential to generate peak revenues ranging from USD 10 billion to 20 billion in total and contribute to long-term growth.

Takeda also announced today its decision to buy back shares up to JPY 100.0 billion, underscoring confidence in its strong business momentum and commitment to shareholder returns. For details, see release: Takeda Announces Acquisition of Own Shares

Takeda chief financial officer, Milano Furuta, commented:
“We are raising our Management Guidance and reported & Core forecasts for the full year, pivoting to a growth outlook for revenue and operating profit on the strength of product momentum and OPEX efficiencies from our efficiency program. We are confident that we will grow our Core Operating Profit margin this fiscal year.

“As highlighted at our R&D Day in December 2024, we are on track to three Phase 3 data readouts within calendar year 2025, strengthening confidence in our long-term growth outlook.

“The announcement of our new share buyback program, approved by Takeda’s Board of Directors, demonstrates our commitment to shareholder returns.”

FINANCIAL HIGHLIGHTS for FY2024 Q3 YTD Ended December 31, 2024

(Billion yen, except percentages and per share amounts)

 
    

FY2024 Q3 YTD
    

FY2023 Q3 YTD
    

vs. PRIOR YEAR

(Actual % change)

Revenue
    

3,528.2
    

3,212.9
    

+9.8%

Operating Profit
    

417.5
    

224.1
    

+86.3%

Net Profit
    

211.1
    

147.1
    

+43.5%

EPS (Yen)
    

134
    

94
    

+42.1%

Operating Cash Flow
    

835.0
    

437.8
    

+90.8%

Adjusted Free Cash Flow (Non-IFRS)
    

568.3
    

36.3
    

+1,466%

Core (Non-IFRS)

(Billion yen, except percentages and per share amounts)

 
    

FY2024 Q3 YTD
    

FY2023 Q3 YTD
    

vs. PRIOR YEAR

(Actual % change)
    

vs. PRIOR YEAR

(CER % change)

Revenue
    

3,528.2
    

3,212.9
    

+9.8%
    

+4.5%

Operating Profit
    

1,006.3
    

865.6
    

+16.3%
    

+10.1%

Margin
    

28.5%
    

26.9%
    

+1.6pp
    

―

Net Profit
    

698.9
    

643.6
    

+8.6%
    

+1.9%

EPS (Yen)
    

443
    

412
    

+7.5%
    

+0.9%

FY2024 Outlook
Updating Full Year Management Guidance and Reported and Core Forecasts

Takeda has upgraded its FY2024 Management Guidance, primarily driven by product momentum and OPEX savings. In addition, and also reflecting revised foreign exchange assumptions for the year, Takeda has raised its FY2024 reported and Core forecasts from the previous forecast. For more details, see release: Notice of the Revised Forecast of Consolidated Financials for FY2024 (IFRS)

FY2024 Management Guidance Core Change at CER (Non-IFRS)
      

FY2024 PREVIOUS
MANAGEMENT GUIDANCE
(October 2024)
    

FY2024 REVISED
MANAGEMENT GUIDANCE
(January 2025)

Core Revenue
    

Flat to slightly increasing
    

Low-single-digit % increase

Core Operating Profit
    

Mid-single-digit % decline
    

Low-single-digit % increase

Core EPS (Yen)
    

Approx 10% decline
    

Flat to slightly declining

FY2024 Reported and Core Forecasts

(Billion yen, except percentages and per share amounts)
      

FY2024
PREVIOUS FORECAST

(October 2024)
    

FY2024

REVISED FORECAST

(January 2025)

Revenue
    

4,480.0
    

4,590.0

Core Revenue (Non-IFRS)
    

4,480.0
    

4,590.0

Operating Profit
    

265.0
    

344.0

Core Operating Profit (Non-IFRS)
    

1,050.0
    

1,150.0

Net Profit
    

68.0
    

118.0

EPS (Yen)
    

43
    

75

Core EPS (Yen) (Non-IFRS)
    

456
    

507

Adjusted Free Cash Flow (Non-IFRS)
    

400.0-500.0
    

550.0-650.0

Annual Dividend per Share (Yen)
    

196
    

196

Positive Momentum in High-Value, Late-Stage Pipeline
The company is building strong momentum with its high-value, late-stage programs. The transformative value these programs can deliver to patients, as well as the significant revenue potential through 2030 and beyond, were presented at the R&D Day event held in December 2024.

Among the multiple late-stage programs presented, the company expects three Phase 3 data readouts in the calendar year 2025 with filings anticipated in FY2025-FY2026 for the following programs and indications:

    oveporexton (TAK-861) for the treatment of narcolepsy type 1,

    zasocitinib for the treatment of psoriasis, and

    rusfertide for the treatment of polycythemia vera, a rare chronic blood disorder

Moreover, five additional indication filings for late-stage programs are on pace for FY2027-FY2029.

    zasocitinib for the treatment of psoriatic arthritis,

    mezagitamab for treatments of immune thrombocytopenia (ITP), a rare immune-mediated bleeding disorder, and immunoglobulin A nephropathy (IgAN), a chronic progressive autoimmune mediated kidney disease,

    fazirsiran for the treatment of alpha-1 antitrypsin deficiency-associated liver disease, and

    elritercept for the treatment of anemia associated with myelodysplastic syndrome

Beyond its high-value, late-stage pipeline, Takeda will continue advancing its early-stage pipeline and focusing on strategic business development opportunities, to deliver treatments that have the potential to change patients’ lives.

Additional Information About Takeda’s FY2024 Q3 YTD Results
For more details about Takeda’s FY2024 Q3 YTD results, commercial progress, pipeline updates and other financial information, including key assumptions in the FY2024 forecast and management guidance as well as definitions of non-IFRS measures, please refer to Takeda’s FY2024 Q3 investor presentation (available at https://www.takeda.com/investors/financial-results/quarterly-results/)

About Takeda
Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.

Important Notice
For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this press release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners.

Forward-Looking Statements
This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects”, “forecasts”, “outlook” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic; the success of our environmental sustainability efforts, in enabling us to reduce our greenhouse gas emissions or meet our other environmental goals; the extent to which our efforts to increase efficiency, productivity or cost-savings, such as the integration of digital technologies, including artificial intelligence, in our business or other initiatives to restructure our operations will lead to the expected benefits; and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Financial information and Non-IFRS Measures
Takeda’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit for the year attributable to owners of the Company, Core EPS, Constant Exchange Rate (“CER”) change, Net Debt, Adjusted Net Debt, EBITDA, Adjusted EBITDA, Free Cash Flow and Adjusted Free Cash Flow. Takeda’s management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this press release. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. Takeda’s non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as “reported” measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS measures to their most directly comparable IFRS measures, which are in the Financial Appendix appearing at the end of our FY2024 Q3 investor presentation (available at www.takeda.com/investors). Beginning in the quarter ended June 30, 2024, Takeda (i) changed its methodology for CER adjustments to results of subsidiaries in hyperinflation countries to present those results in a manner consistent with IAS 29, Financial Reporting in Hyperinflation Economies, (ii) re-named Free Cash Flow as previously calculated as “Adjusted Free Cash Flow” (with “Free Cash Flow” to be reported as Operating Cash Flow less Property, Plant and Equipment), and (iii) re-named Net Debt as previously calculated as “Adjusted Net Debt” (with “Net Debt” to be reported as the book value of bonds and loans less cash and cash equivalents).

Peak Sales and PTRS Estimates
References in this press release to peak revenue potential ranges are estimates that have not been adjusted for probability of technical and regulatory success (PTRS) and should not be considered a forecast or target. These peak revenue potential ranges represent Takeda’s assessments of various possible future commercial scenarios that may or may not occur.

References in this press release to PTRS are to internal estimates of Takeda regarding the likelihood of obtaining regulatory approval for a particular product in a particular indication. These estimates reflect the subjective judgment of responsible Takeda personnel and have been approved by Takeda’s Portfolio Review Committee for use in internal planning.

Medical information
This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.

Please refer to slide 5 of Takeda’s FY2024 Q3 investor presentation (available at https://www.takeda.com/investors/financial-results/quarterly-results/) for the definition of Growth & Launch Products.

 

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Contacts

Investor Relations
Christopher O’Reilly
Christopher.oreilly@takeda.com
+81 (0) 90-6481-3412

Media Relations
Brendan Jennings
Brendan.jennings@takeda.com
+81 (0) 80-2705-8259
(Outside Japan business hours)
Media_relations@takeda.com

Julie Kim Will Succeed Christophe Weber as CEO of Takeda in June 2026

 CEO Christophe Weber to retire from Takeda in June 2026 after 12 years

Julie Kim, president of the U.S. Business Unit, named to succeed Weber after multi-year succession process

 

(BUSINESS WIRE) -- Takeda (TOKYO:4502/NYSE:TAK) announced today that its Board of Directors made the decision unanimously to appoint Julie Kim, currently president of Takeda’s U.S. Business Unit, as the successor to Christophe Weber, Takeda’s president, chief executive officer (CEO) and representative director, when Mr. Weber retires from the company in June 2026. Mrs. Kim will be proposed as a candidate for election to the Board at Takeda’s Annual General Shareholders Meeting held in June 2026. Mr. Weber will not hold a Board seat after retiring from Takeda.

“The Board of Directors has unanimously chosen Julie Kim to lead Takeda into the next chapter, building on the company’s success under Christophe Weber’s remarkable leadership,” said Masami Iijima, chair of the Board of Directors meeting and of the Nomination Committee. “During Christophe’s 12 years of leadership, Takeda has transformed into a competitive, global R&D-driven biopharmaceutical company, with a long-term sustainable business model. We are grateful for his tremendous impact and for his continued leadership at Takeda and support to Julie over the next 18 months. Julie is an outstanding leader who has made significant contributions to the company, notably in leading the U.S. business and the Plasma-Derived Therapies Business Unit previously. She is an experienced, values-based leader who will fully uphold our corporate culture and expand the impact we can have for patients around the world.”

Commenting on the selection process, Mr. Iijima said that “after undergoing a multi-year succession process, the Board determined that Julie Kim is the best leader among a strong pool of both internal and external candidates. The selection process followed by the Nomination Committee and the Board has been thorough and exemplary.”

“For several years, I have worked with the Board to ensure a smooth succession,” said Christophe Weber. “Now is the right time to appoint my successor given our competitive growth outlook, new product launches expected from the second half of 2026 onwards and the anticipated retirement of some external independent directors in the coming years. The Board’s selection of Julie is outstanding. I have worked closely with Julie for the past six years and have witnessed firsthand her values, intellect, grit and dedication to our people and patients.”

“Takeda is a unique company, and I am deeply honored to have been chosen to lead it,” said Julie Kim. “Thanks to Christophe’s phenomenal leadership, Takeda has become a global biopharmaceutical powerhouse with a promising late-stage pipeline. I am excited to guide Takeda through the next phase, together with our exceptional and talented people, while staying true to our strong culture that is rooted in our values and shaped by a heritage of more than 240 years. I want to thank the Board of Directors for their confidence in me. I look forward to working with the Board, Takeda’s executive team and all colleagues to serve and create long-term value for patients, shareholders and society.”

About Christophe Weber

Christophe Weber joined Takeda in April 2014 as chief operating officer. He was named president and representative director in June 2014, and subsequently appointed CEO in April 2015. Under Mr. Weber’s leadership, Takeda has focused on enhancing competitiveness through globalization and R&D transformation, while fostering a diverse and inclusive work environment and reinforcing ethical values and corporate governance.

About Julie Kim

Julie Kim has been the president of the U.S. Business Unit and U.S. country head since 2022, and a member of the Takeda Executive Team since 2019. With three decades of experience in health care, Mrs. Kim has held leadership positions at global, regional, country and functional levels. Her extensive background covers a range of therapeutic areas, international market access, general management, marketing and emerging market development.

About Takeda

Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.

Important Notice

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Medical Information

This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.

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Contacts

Takeda Media Relations

Amy Atwood (U.S. & Global)

amy.atwood@takeda.com

Aya Shishido (Japan)

aya.shishido@takeda.com

Takeda Investor Relations

Christopher O’Reilly

Christopher.oreilly@takeda.com

+81 (0) 90-6481-3412

Cedar Money Raises $9.9 Million Seed Round Led by QED Investors to Enable Cross-Border Stablecoin Payments

 

NEW YORK - 

Payments software utilizes modern rails to transform outdated money flows between emerging and developed markets

 

(BUSINESS WIRE)--Cedar Money, a payments company that enables seamless cross-border money movement on stablecoins, announced today a $9.9 million seed round led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar. The funding will enable Cedar Money to accelerate its mission of transforming international money flows using cutting-edge payment infrastructure.

Cedar Money’s platform addresses the challenges of the correspondent banking network, a system dating back to the 1970s that has resulted in slow, expensive and complex processes, creating barriers for businesses. Cedar Money leverages stablecoins to deliver faster, more reliable and cost-effective cross-border payments between developed and emerging markets.

By integrating blockchain technology on the backend with a user-friendly, familiar fiat-based interface, Cedar Money offers businesses a seamless and compliant payment solution..

“The funding underscores the urgency for innovative payment solutions in a world where businesses face significant barriers in moving money across borders,” said Benjy Feinberg, CEO of Cedar Money. “We’re proud to partner with forward-thinking investors like QED who share our vision of creating a truly global and inclusive financial ecosystem.”

Since its inception, Cedar Money’s tools have proven particularly impactful in regions where traditional payment systems are cumbersome, costly or inaccessible. With its compliance-first approach, Cedar Money bridges the fiat and stablecoin worlds, ensuring secure and regulated money movement globally.

The announcement comes at a time of burgeoning market opportunities for stablecoins. Recent market activity and favorable sentiment around digital assets, driven in part by ongoing regulatory clarity and support, underscore the timeliness of Cedar Money’s mission. Furthermore, the results of the U.S. presidential election have spotlighted the increasing importance of digital currencies in the global financial dialogue, amplifying the demand for efficient and compliant payment solutions.

“Cedar Money’s approach aligns perfectly with the positive momentum in the digital asset ecosystem, as businesses and governments alike recognize the transformative potential of stablecoins in enhancing cross-border money flows,” said Feinberg.

Added QED Investors Partner Gbenga Ajayi: "Cedar Money’s innovative platform is not just transforming cross-border payments, it’s creating a new paradigm in global finance. By leveraging stablecoin technology while maintaining a fully compliant and fiat-aligned user experience, Cedar Money is uniquely positioned to tackle the inefficiencies of the global financial system. We’re thrilled to support their journey."

About Cedar Money

Founded in 2022, Cedar Money was created to transform the global payment landscape by pioneering modern approaches to international money flows. Leveraging stablecoins, Cedar Money rewires outdated SWIFT and correspondent banking network rails with innovative infrastructure. By enabling seamless and efficient money movement across geographies, Cedar Money bridges gaps between emerging and developed markets, ensuring compliant and secure transactions for businesses worldwide. Learn more at https://www.cedar.money/us

About QED Investors

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer. Learn more at www.qedinvestors.com.

 

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Contacts

Media Contact:

Titilayo Oluwatosin

Director of Marketing and Communications

Cedar Money

marketing@cedar.money

 

Vasion Appoints Transformational Leader Bob Pritchard as Chief Revenue Officer

 ST. GEORGE, Utah -

(BUSINESS WIRE) -- Vasion, Inc., a pioneer in serverless printing and orchestrated automation, today announced the appointment of Bob Pritchard as Chief Revenue Officer & President Global Sales, effective immediately. Pritchard brings a wealth of strategic experience to Vasion with a distinguished career in technology spanning over three decades, including award-winning success driving growth and delivering value for AI and process automation organizations.

“We are excited to welcome Bob to the team,” said Vasion CEO Ryan Wedig. “His deep expertise in the technology automation industry, coupled with his proven ability to build and lead successful revenue teams, will be invaluable as we continue to expand our market reach and deliver exceptional value to our customers.”

Pritchard joins Vasion from M-Files, where he served as Chief Revenue Officer during his three-year tenure. Prior to M-Files, Pritchard held various leadership roles for notable tech companies including Camunda, Alfresco Software (now Hyland Software), Redwood Software, OpenText, and IBM, demonstrating a consistent track record of success building high-performing sales organizations and driving revenue growth.

“Vasion has a compelling vision and a culture that deeply resonates with me. I am excited to leverage my experience in a market with limitless potential to help make digital transformation attainable for everyone,” said Bob Pritchard, Chief Revenue Officer & President Global Sales at Vasion. “We’ll continue to deliver exceptional value to our customers and partners by building on our proven, user-friendly platform and scaling our impact through focused execution.”

This appointment follows the departure of Jed Beck, who served as Chief Revenue Officer and Vice President at Vasion for six years. During his tenure, Beck successfully built a world-class sales organization and played a pivotal role in scaling significant revenue growth for the company.

About Vasion:

Vasion revolutionized print automation with a cloud-native SaaS solution and is now a leader in intuitive orchestrated automation. Organizations can simplify their digital transformation using Vasion’s automation platform to integrate their print output with the digital work teams do today: capturing data, applying AI, OCR and ICR, building and automating workflows, digital signatures, universal content storage and search, built-in compliance controls, and cloud-based Output Automation™, combining end user print and output management. Vasion accelerates digital transformation by enabling leaders to leverage advanced integrations for AI, with robust security in a Zero Trust environment, and integrating, directing, and analyzing their automations through a single platform. PrinterLogic® and Vasion® are registered trademarks, and Vasion Automate™, Vasion Output Management™, and Vasion Print™ are trademarks of Vasion in the United States and/or other countries.

 

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Contacts

Media Contact:

Nadia Romero

Sr. Manager of PR and Communications

nadia.romero@vasion.com

 

Hikma and M42 sign strategic MOU to advance healthcare innovation in the UAE

 Dubai, United Arab Emirates 

Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical group, today announces that it has signed a strategic memorandum of understanding (MOU) with M42, a global health leader powered by artificial intelligence (AI) and technology, to advance healthcare innovation in the United Arab Emirates (UAE) in the fight against colorectal cancer.

The MOU was signed on the sidelines of the Arab Health 2025 conference and aims to accelerate the implementation of more precise, preventive and predictive cancer care programmes, utilising cutting-edge genomics screening technology. Under this agreement, Hikma and M42 will enhance their collaboration to promote the use of Shield™, a non-invasive laboratory-developed test (LDT) by Guardant Health Inc., for colorectal cancer (CRC) screening, aiming to improve screening adherence rates in the UAE. Shield™ is the first blood test to be approved by the US FDA as a primary screening option for CRC, meaning healthcare providers can offer Shield in a manner similar to all other non-invasive methods recommended in screening guidelines.

The Abu Dhabi Public Health Centre (ADPHC), in partnership with M42, recently introduced the non-invasive blood-based liquid biopsy test Shield™ for colorectal cancer screening as part of the IFHAS comprehensive health screening programme. Shield™ is already available for screening at key healthcare centres and M42 locations across Abu Dhabi, Al Ain and the Al Dhafra region.

Mazen Darwazah, Hikma’s Executive Vice Chairman and President of MENA, said: “We are proud to sign this strategic partnership with M42 – a company that shares our commitment to innovation shaping the future of healthcare to improve patient outcomes. This important endeavour is focused on enhancing early disease detection, enabling more precise diagnoses, and facilitating more effective treatments, particularly in oncology and preventive care, which is aligned with our ambition of providing broader healthcare solutions focused on precision medicine.”

Dr. Fahed Al Marzooqi, Chief Executive Officer, Integrated Health Solutions, M42, said: “At M42, we are committed to harnessing cutting-edge technologies to improve patient outcomes and empower health systems to deliver proactive care. This collaboration with Hikma reflects our dedication to supporting Abu Dhabi's broader efforts to lead in next-generation screening and health innovation. By integrating AI and genomics-driven solutions, we are redefining traditional healthcare models to create a healthier, more sustainable future for all.”

Last year Hikma announced that it had signed an exclusive agreement with Guardant Health, Inc. for the commercialisation and marketing of Guardant Health’s portfolio of liquid and tissue biopsy tests for cancer screening, recurrence monitoring and tumour mutation profiling across all solid cancers in the Middle East and North Africa (MENA). The agreement includes tests such as the US FDA approved Shield™ for colorectal cancer screening and early detection, as well as Guardant Reveal™ for minimal residual disease detection and recurrence monitoring and Guardant360® and Guardant360 TissueNext™ for comprehensive genomic profiling across all solid cancers.

The introduction of the Shield™ test for colorectal cancer screening marks a transformative step in advancing precision and preventive healthcare across the region.

 

About Hikma

For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, MENA and Europe. For more information, please visit: www.hikma.com

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Contacts

Enquiries:

Bedour Mossa

Senior PR Account Manager

APCO

bmossa@apcoworldwide.com

Paulina Porizkova Returns to Estée Lauder as Global Brand Ambassador

 (BUSINESS WIRE)--Estée Lauder today announces that actor, writer, model and anti-ageism activist Paulina Porizkova, will return to the brand as its newest Global Brand Ambassador. Porizkova famously served as a spokesmodel for Estée Lauder from 1988 – 1995, appearing in some of the brand’s most celebrated campaigns and solidifying her legacy as a beauty industry icon. The evolution of the partnership between Estée Lauder and Porizkova marks a new kind of collaboration, with a shared mission to redefine standards of beauty. As one of the most powerful and authentic voices leading the conversation around aging, beauty and self-worth, Porizkova will use her highly influential platform to inspire and empower women around the world to see their value and celebrate their beauty at any age.

“Over the last 30 years, I have become a woman who has a voice, strong opinions and an even stronger sense of self. Estée Lauder approached me to work with them again not despite these values, but because of them,” said Porizkova. “Unlike the first time around, this is more than a job. It’s my purpose - an opportunity to be exactly who I am, to speak only about products I genuinely love and believe in, and to show women around the world that with age comes power and possibility. This is about more than representation. It’s about being seen and celebrated.”

Porizkova will endorse skincare and makeup products that authentically align with her pro-aging values, while driving conversation and fostering community around the topics she is most passionate about.

“Today marks a milestone moment for the brand as we welcome Paulina back to the Estée Lauder family; this time not as a spokesmodel, but as a role model,” said Justin Boxford, Global Brand President, Estée Lauder. “Paulina’s voice, authenticity, and ability to connect with women on the deepest level is the embodiment of everything Estée Lauder stands for. She is changing the conversation around aging, and we want to be the megaphone to help amplify her message.”

Porizkova’s first campaign will debut in Spring 2025 across print, digital and in-store in support of Estée Lauder’s Revitalizing Supreme+ franchise. Porizkova joins Estée Lauder’s current roster of global talent including Ana de Armas, Bianca Brandolini, Carolyn Murphy, Grace Elizabeth, Imaan Hammam, IU, Karlie Kloss, Shu Qi and Yang Mi.

About Paulina Porizkova
Paulina Porizkova is a Czechoslovak-born actor and writer. A former model, she was the first Central European woman to appear on the cover of the Sports Illustrated swimsuit issue in 1984. In 1988 she became one of the highest-paid models in the world as the face of Estée Lauder. She has starred in 16 movies and a slew of TV shows as an actress and served as part of the judging panel on Cycle 10 of America's Next Top Model. Her debut novel, A Model Summer, was published in 2007 and her nonfiction debut, No Filter: The Good, the Bad, and the Beautiful was published in November 2022. A highly influential anti-ageism activist, Paulina recently returned to Estée Lauder as a Global Brand Ambassador.

About Estée Lauder
Estée Lauder is the flagship brand of The Estée Lauder Companies Inc. Founded by Estée Lauder, one of the world’s first female entrepreneurs, the brand today continues her legacy of creating the most innovative, sophisticated, high-performance skincare and makeup products and iconic fragrances – all infused with a deep understanding of women’s needs and desires. Today, Estée Lauder engages with consumers in over 150 countries around the world and at dozens of touch points – from in-store to digital. And each of these relationships consistently reflects Estée’s powerful and authentic point of view.

ELC-B
NYSE: EL

 

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Contacts

PR Contact: tconnaug@estee.com

FLS Mining Partners with LTIMindtree for Strategic Transformation of Application Maintenance Services

 COPENHAGEN, Denmark & MUMBAI, India - Thursday, 30. January 2025 AETOSWire Print 

(BUSINESS WIRE) -- LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, has partnered with FLS, a leading, full flowsheet minerals processing supplier to the global mining industry, for strategic transformation of their application services portfolio. Through this partnership, LTIMindtree will enable seamless support of enhanced application maintenance and development services at FLS.

As a part of this partnership, LTIMindtree would provide Maintenance, Support to the vast & complex Application landscape of FLS Mining. By leveraging the power of AI as well as automation tools, LTIMindtree will assist FLS Mining in reducing complexity and enabling business efficiency.

Balakrishna Govindan – Head of Business Applications, FLS Mining, said, “Our engagement with L&T Group and LTIMindtree specifically, has been critical in providing timely and better service to our Business. This engagement is key to our ambition of delivering modern, scalable solutions to our Business which inturn will enable them to provide better service to our clients worldwide. We are excited to continue this journey with an expert partner like LTIMindtree, who can support our diverse needs and bring in futuristic innovations in our existing system.”

Srini Rao, EVP & Chief Business Officer, LTIMindtree, said, “We, as LTIMindtree and our parent company, L&T Group, go a long way as trusted advisors for FLS. As the key enablers in their strategic transformation journey, we remain committed to streamlining business processes at FLS and simplifying outcomes for their end customers.”

FLS is a leading, full flowsheet minerals processing supplier to the global mining industry, delivering proven technologies and services across the lifecycle of operations and with set targets of providing solutions for zero-waste mining by 2030 with our MissionZero programme.

About LTIMindtree:

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 86,000+ talented and entrepreneurial professionals across more than 40 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit www.ltimindtree.com.

 

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Contacts

Media Contact: Shambhavi Revandkar | Global Media Relations | Shambhavi.revandkar@ltimindtree.com

Eyedea’s AI-powered Visual Recognition Software Protected and Monetized by Thales Sentinel Platform

 

• Thales Sentinel protects Eyedea technologies based on artificial intelligence and machine learning, assuring customers that software is secure, trusted and validated

• Enables Eyedea to scale revenue streams and focus on technology innovation

 

(BUSINESS WIRE) -- Thales today announced a collaboration with the visual recognition technology company Eyedea, enabling the company to deploy and protect its AI-powered and machine learning visual recognition software for customers around the world using Thales Sentinel, the world’s leading software monetization and protection platform.

With high-profile, security-conscious customers including international and national police organisations such as Interpol, Europol and the Czech Police, Eyedea was originally established in 2006 by a research group from the Czech Technical University in Prague’s Centre for Machine Perception.

The company offers AI visual recognition software that can classify things such as vehicle make and models, number plates, train carriage numbers and more, from CCTV footage. From standard traffic cameras, their technology recognises activities such as distracted drivers, unfastened or fastened seatbelts, and counts passengers for use in environments like carpool lanes. In addition, Eyedea’s technology can make human factors and vehicle license plates unidentifiable in image data, ensuring compliance with GDPR and other local data protection laws.

“We’re very proud of the long-standing relationship we’ve built with Eyedea. Thales Sentinel has been able to offer IP protection and flexible packaging as their AI-based software has grown to support hundreds of public and private customers worldwide. We look forward to continuing to work together as Eyedea further innovates and evolves its AI technology,” commented Damien Bullot, Vice President Software Monetization at Thales.

"Thales Sentinel is essential for us to go-to-market in a secure and assured way. Our customers need to be able to trust that access to our software is safeguarded, while we need to protect our IP and manage the active deployments we have. Thales Sentinel does a fantastic job of handling both, and our long-standing partnership with them allows us to scale our revenue streams, and focus more of our time on technology innovation, as time goes on,” said Martin Urban, CEO at Eyedea.

Eyedea’s customers use its AI recognition software by embedding it into existing hardware and software they’re using. This is delivered via software development kits (SDKs) supplied by Eyedea, alongside a Thales Sentinel license on a hardware key. The combination of the hardware key along with the SDK not only provides assurance to customers that their access to the software is safeguarded, but also that the team at Eyedea can be sure there’s no unauthorised use or tampering of their software.

The Sentinel Envelope secures the software from breaches, and the Sentinel Licensing further enables Eyedea to offer varying packaging tiers based on customer requirements. This includes the flexibility to offer customers a free three-month trial which expires based on time or volume of usage, which customers can then opt to purchase as a one-year license.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies specialized in three business domains: Defence & Security, Aeronautics & Space, and Cyber & Digital.

It develops products and solutions that help make the world safer, greener and more inclusive.

The Group invests close to €4 billion a year in Research & Development, particularly in key innovation areas such as AI, cybersecurity, quantum technologies, cloud technologies and 6G.

Thales has close to 81,000 employees in 68 countries. In 2023, the Group generated sales of €18.4 billion.

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Thales Group

Cloud Protection & Licensing Solutions | Thales Group

Cybersecurity Solutions | Thales Group

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250129251942/en/

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Contacts

PRESS
Thales, Media Relations
Security & Cybersecurity
Marion Bonnet
+33 (0)6 60 38 48 92
marion.bonnet@thalesgroup.com