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44 minutes ago
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German pharma giant Merck takes over US cancer specialist
German pharmaceutical giant Merck has completed a €3 billion ($3.5 billion) takeover of US biopharmaceutical company Springworks Therapeutics, the firm confirmed on Tuesday. With the acquisition, Merck intends to build a business around the treatment of rare tumours, where it sees a therapeutic gap. "Many of those affected are still young and face a lengthy treatment path with an uncertain outcome and only limited treatment options," said Danny Bar-Zohar, head of Merck's pharmaceuticals division. Springworks already has a drug approved in the US for the treatment of progressive soft tissue tumours and for a disease with benign tumours on the skin or nerves. Both drugs could soon also be given the green light in the EU. The deal is the largest for Merck's pharmaceutical unit in nearly 20 years. Merck chief executive Belén Garijo described the acquisition as "pioneering." Garijo told dpa that both Springworks therapies could become blockbuster drugs in the future, meaning that each could generate sales of at least $1 billion per year for Merck. The acquisition of Springworks is a "transformative step," the manager explained. It will allow Merck to expand its business in the US, focus more on rare diseases and accelerate growth. At the same time, Garijo did not rule out further acquisitions, above all in the business with products for pharmaceutical research and drug manufacturing. Merck's pharmaceuticals division has recently shown solid growth. However, the group is under pressure to bring new drugs onto the market. Several promising drugs that were supposed to bring billions into Merck's coffers have failed in clinical trials. The acquisition of Springworks, the largest in the pharma division since the purchase of the Swiss group Serono in 2007 for €10.3 billion, is expected to directly increase Merck's sales. Merck's last major acquisition was the US semiconductor supplier Versum Materials in 2019, worth around €5.8 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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US halts some weapons shipments to Ukraine, White House says
The US has halted some weapons shipments to Kyiv, the White House has said, as Russia's war against Ukraine has intensified. The decision was taken "to put America's interests first" and followed a Department of Defense review of US "military support and assistance to other countries", White House spokesperson Anna Kelly said on Tuesday. The US has sent tens of billions of dollars in military aid to Ukraine since Russia launched its full-scale invasion in February 2022, leading some in the Trump administration to voice concerns that US stockpiles are too low. The Ukrainian government has not commented on the announcement. US officials did not immediately say which shipments were being halted. Air defence missiles and precision munitions are understood to be among the weapons affected, according to the Reuters news agency. A US official said the move was based on concerns about US military stockpiles falling too low, the BBC's US media partner CBS News has reported. The Department of Defense "continues to provide the President with robust options to continue military aid to Ukraine... At the same time, the Department is rigorously examining and adapting its approach to achieving this objective while also preserving U.S. forces' readiness for Administration defense priorities," Elbridge Colby, the US Undersecretary of Defense for Policy, said. "The strength of the United States Armed Forces remains unquestioned - just ask Iran," Kelly added, referring to US strikes at three Iranian nuclear sites last month. The decision comes shortly after US President Donald Trump met with his Ukrainian counterpart Volodymyr Zelensky at the Nato summit in the Netherlands last week. On that occasion, Trump said US officials "are going to see if we can make some of them available" when asked about providing extra Patriot anti-missile systems to Ukraine. Referring to his conversation with Zelensky, Trump said: "We had a little rough sometimes, but he couldn't have been nicer." The two had a heated confrontation in the Oval Office in March this year. Afterwards, Trump said he was pausing military aid to Ukraine that had been earmarked by the previous Biden administration. It also said it would pause intelligence sharing with Ukraine. Both pauses were subsequently lifted. In late April, the US and Ukraine signed a deal that would give the US access to Ukraine's mineral reserves in exchange for military assistance. The US military aid suspension comes as Russia stepped up its war against Ukraine. Over the weekend, Russia launched one of its largest aerial attacks on Ukraine since the start of the war, using more than 500 different types of weapons, including drones, ballistic and cruise missiles. On Tuesday, three people were killed in a Ukrainian attack on a Russian factory in Izhevsk, more than 1,000km (620 miles) from the border with Ukraine. Moscow currently controls about 20% of Ukrainian territory, including the Crimea peninsula annexed in 2014. 'They took shrapnel from my heart' – the magnets saving lives in Ukraine 'Mariupol is diseased': Residents deny Russian claims occupied city returning to normal
Yahoo
an hour ago
- Yahoo
Bellinghams are most highly-coveted brothers in the game
Jude and Jobe Bellingham became the first brothers ever to both score at a Club World Cup last weekend - and their combined market value is currently an eye-watering €207 million, according to Playmaker. Signed by Borussia Dortmund this summer, Jobe scored on his first start for 'BWB' in the Bundesliga side's 4-3 win over Mamelodi Sundowns on Saturday before big brother Jude hit the target for Real Madrid in Los Blancos' 3-1 success over Pachuca on Sunday. Advertisement The comparisons between the brothers are inevitable, particularly given the fact that Jude also scored on his first start for Dortmund back in 2020 when he netted in a 5-0 German Cup win over Duisburg. With older brother Jude now valued by Playmaker at a whopping €185m and Jobe given a market price of €22m, the Bellinghams are certainly hot property - and they are currently the most highly coveted brothers in the business. World's most highly-valued brothers (based on Playmaker valuations) Here is the podium for superstar brothers as it currently stands: The Bellinghams (combined market value of €207 million) Advertisement Having both come through the Birmingham City academy, the Bellingham brothers have both been on a stratospheric career path from their early teens - and Jobe's summer move to Dortmund from Sunderland paves the way for him to elevate his game to another level in the Bundesliga next term. Still only 21, Jude Bellingham has established himself as a dyed-in-the-wool Galactico at Real Madrid and it will be interesting to see if 19-year-old Jobe can progress into the senior England squad and play with his brother on the international stage soon. Since the 1950s, only three sets of brothers have played for the Three Lions: Nathaniel Chalobah and Trevoh Chalobah, Gary Neville and Phil Neville, and Bobby and Jack Charlton. The Mbappés (combined market value of €185 million) He made something of a slow start, and failed to win any major trophies, during his first season at Real Madrid, but Kylian Mbappé is still generally regarded as one of, if not the, best player in the world and 45 goals in 53 games for Los Blancos underlined his stellar ability. Former PSG academy graduate Ethan, in contrast, is very much in the process of making his name - the midfielder making 10 appearances for Lille in Ligue 1 last term. Kylian's market value of €180m does most of the heavy lifting in terms of this valuable pair - but Ethan's value has climbed to €5m on the back of his progress last term. The Thurams (combined market value of €121 million) Advertisement A more evenly-balanced pair of superstar brothers sits third in our list of 'Galactico Bros': Marcus and Khephren Thuram. Both capped at senior level by France, Inter powerhouse Marcus and Juventus midfielder Khephren both came from good stock given their father Lilian was a World Cup winner and enjoyed a glittering club career for the likes of Monaco, Juventus and Barcelona. Valued at €79m by playmaker, Marcus hit 18 goals from Champions League finalists Inter last term, while Khephren - who has a market value of €42m - played 49 games for Juve in his first season in Turin. The brothers have actually played against each other on three occasions in their older brother Marcus yet to finish on the winning side!
