Latest news with #BIO
Indian Express
a day ago
- Business
- Indian Express
India-UK CETA: Scotch whisky imports to get cheaper now with tariffs halved to 75%
After the India-UK Comprehensive Economic and Trade Agreement (CETA) signed today, scotch whisky imports from the UK are set to get cheaper for Indian consumers, with tariffs slashed from 150 per cent to 75 per cent. The landmark agreement does not impose minimum import price (MIP) rules on scotch imports, which had been a key demand of India's domestic industry. Under the agreement, India will immediately reduce tariffs by half to 75 per cent, and then to 40 per cent over ten years, once the deal is ratified domestically by the two countries. Scotch distillers in the UK have welcomed the reduction in tariffs, which will give them greater access to the world's biggest whisky market by volume. Whisky was the UK's fifth-largest export product to India in 2024-25, valued at roughly $260 million. 'The deal will support long term investment and jobs in our distilleries in Speyside and our bottling plant at Kilmalid and help deliver growth in both Scotland and India over the next decade,' said Jean-Etienne Gourgues, chairman and CEO of Chivas Brothers, the firm behind popular whisky brands such as Chivas Regal and Ballantine's. India's domestic alcoholic beverage industry, however, has flagged potential dumping concerns with the reduction in tariffs. 'Though lowering of import duty on Scotch will help the domestic industry—as Scotch used to produce blended products will also get cheaper—we hope that the government will ensure that Scotch whisky and other spirits (BIO-bottled in origin) are not dumped at low import prices or routed through any other country at cheaper rates, which would hurt the YOY growth of premium and luxury Indian brands,' said Anant S Iyer, director-general of the Confederation of Indian Alcoholic Beverage Companies (CIABC), hours before the full text of the agreement was made public. To counter dumping, Iyer said the industry had recommended to the government to introduce MIP rules for scotch. However, the agreement does not impose any such requirements on scotch imports. 'With the import duty being cut drastically, it is high time that a number of state governments end all concessions—such as lower brand registration fees, reduced excise duties, etc.—currently extended to BIO brands,' Iyer said. 'This has created a situation where importing Alcobev products is becoming cheaper than producing it in India. With lower import duties, it will now become even more economical for MNC's to import their products. State governments should end all discrimination against India-made alcoholic beverages,' he added in a media note. Iyer also flagged lack of market access for Indian-made foreign liquor in the UK and EU due to non-tariff barriers related to maturation and ingredients. 'Though Indian whiskies, rum, gins, wines, etc., have been winning accolades globally, the lack of removal of non-tariff barriers and absence of reciprocal market access will make this export target hard to achieve,' he said. While tariffs on Indian exports of beverages, spirits, and vinegar have been eliminated entirely, non-tariff barriers are likely to remain. Opening up the Indian market to foreign liquor has been a contentious issue in trade talks, including those ongoing with the US and the EU. Earlier in February, when the government had slashed duty on bourbon whisky – a key US export – from 150 per cent to 50 per cent, the domestic industry urged states to withdraw all excise concessions given to imported liquor, arguing that the customs duty cuts would harm Indian products in both the spirits and wine categories. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
Forbes
25-06-2025
- Health
- Forbes
Ben Lamm Represents The Potential Of Biotech, And Why We Should Keep Supporting Innovators
The rapid adoption of artificial intelligence in genetic engineering, health care, and medical research could lead to significant improvements in human health and our ecological environment in the decades ahead. But biotech innovators and entrepreneurs worldwide will have to overcome a global political environment that has suddenly become skeptical of science, expertise and public health in general. Last week, 20,000 scientists, executives, investors and startups descended upon Boston for the BIO 2025 Convention – the largest medical research and biotech convening in the world. The convening took place amidst significant opportunity – and turmoil, in health care worldwide. The rapidly expanding capabilities of artificial intelligence are unlocking new opportunities to develop new drugs, therapeutics, wearables and devices. But BIO also comes at a time of significant declines in government funding for basic science and R&D, as well as a drop in global leadership around public health challenges like pandemic preparedness. BIO 2025 Exhibition Hall In 2025, the United States is expected to announce cuts of 40-60% to the National Institutes of Health and National Science Foundation. Yet American states are offering biotech's R&D credits, seed funding, lab space and commitments to improve their workforce and academic institutions. Nations around the world, sensing opportunity, are also rolling out the red carpet to attract the top scientists in the world. BIO itself highlighted the importance of building public trust in biotechnology and working with regulatory bodies to streamline approvals for innovative products. Colossal Biosciences is a great example of a biotech startup at the intersection of these trends and challenges. Founded by legendary geneticist Dr. George Church of Harvard and MIT, and serial AI entrepreneur Ben Lamm, Colossal is pioneering the use of CRISPR technology in the de-extinction of previously lost species, including the Dire wolf. According to the International Union for the Conservation of Nature, nearly 50% of all animal species could be endangered of becoming extinct by 2050. According to Lamm, 'We are the back-up plan. It's like, when we jump out of a plane, we all hope the parachute is going to open, but just in case, we want to have a back-up emergency 'chute. Colossal is that back-up.' The company defines de-extinction as the process of generating an organism that both resembles and is genetically similar to an extinct species by resurrecting its lost lineage of core genes; engineering natural resistances; and enhancing adaptability that will allow it to thrive in today's environment of climate change, dwindling resources, disease and human interference. The Dire Wolf, as imagined by Colossal Biosciences Such ambition and optimism were pervasive across BIO. Scores of startups today are using artificial intelligence for health care delivery, hospital operations, digital health platforms, diagnostics, patient monitoring tools, revenue cycle management, and even regulatory and compliance innovations. Biotech startups are using AI to improve drug discovery, target validation and optimize clinical trials. CRISPR, the ubiquitous gene editing tool now used in drug discovery, continues to improve as more genomes are mapped. Colossal has developed a set of new software tools and technologies, along with CRISPR gene editing technology to resurrect these specific species but to also build a 'de-extinction toolkit' that can be used for difference animal species as needed. According to Chief Science Officer, Dr. Beth Shapiro, a world-renowned evolutionary molecular biologist and a leading figure in the field of ancient DNA and paleo genomics, 'we are developing a modular system that combines gene editing, cryopreservation, synthetic biology, and cloning to preserve, restore, and recreate species.' As an example, the team at Colossal uses the genetics of the used the genetics of the closet relative of the team successfully used comparative genetics with its closest living relatives, the gray wolf, to fill in critical gaps in the genetic sequence. That cloning research that came from the project has immediate impacts on red wolf conservation and will serve as a critical tool for all canid restoration in the future. The biotech industry worldwide continues to grow in importance, and no doubt there will be continued investment in the basic science, R&D and commercialization that drives important companies like Colossal and others. It is less clear whether that leadership will come from the United States or other nations – such as the United Arab Emirates, India, China, Japan or elsewhere? We don't know what areas of innovation those nations will prioritize, and whether or not important moonshots – like bringing back the woolly mammoth, will be on their radar. American leadership – scientific, political and financial, needs to remain committed to improving health of humans and the planet at large.
Boston Globe
23-06-2025
- Business
- Boston Globe
After a quarter-century building Eastern Bank's foundation, Huntington Stager exits
Advertisement 'I feel like the bank and I grew up together,' Stager said. 'It's been a great ride. We've done a lot of good in our communities. I'm very proud of what the whole team has done.' The foundation previously had its own executive director, Laura Kurzrok , who reported to Stager; as a mutual bank at the time, Eastern gave 10 percent of its income to the foundation. In 2020, shortly after Eastern's initial public offering, chairman Bob Rivers announced that Stager would run the foundation on a full-time basis, relinquishing her HR role at the bank. That IPO also turbocharged the foundation by giving it shares valued at around $90 million, doubling its size. Today, the foundation's assets total around $250 million. It gives out community grants ranging from $100 to $10,000, and makes even larger grants focused on four core areas: advancing equity among small businesses, helping early childhood education efforts, providing affordable housing, and promoting workforce training for people facing barriers to employment. Advertisement Stager borrowed an idea from Google to create a 'foundation fellows' program in which subject matter experts join the foundation in full- or part-time roles. Dorsey, who served as chief of education for then-mayor Martin J. Walsh , was the first such fellow before becoming the foundation's chief impact officer. Other fellows include Jeff Fuhrer (economic and racial justice), Jerry Rubin (workforce development), Dina Scianna (affordable housing), Natalia Urtubey (small-business equity), and Tom Weber (early childhood education). The Eastern foundation, which gave out $16 million in grants last year, also has an army of Eastern Bank employees who chip in by volunteering. It's important, Stager said, to have the humility to understand that Eastern and its foundation are just one part of the process. 'It's about building stronger communities,' she said. 'If you talk about 'those needy people,' you can't help because you're not listening to what their needs are.' At Bio Convention, Healey beats the drum for Massachusetts MassBio chief executive Kendalle Burlin O'Connell, Thermo Fisher Scientific chief executive Marc Casper, and Governor Maura Healey spoke on a panel at the BIO convention in Boston on Tuesday. John Wilcox The headaches keep coming for Massachusetts biotech firms: tariffs, pricing crackdowns, research funding cuts, an exodus at the Food and Drug Administration. Governor Maura Healey and Marc Casper , the chief executive of Waltham-based lab equipment maker Thermo Fisher Scientific , made subtle nods to those challenges when they spoke at the annual BIO conference at the Boston Convention & Exhibition Center last week. But they chose to focus on the strengths of the Massachusetts biotech ecosystem, rather than gripe about the negatives. Healey said she recognizes the tariff and funding issues, but she also told those gathered at the Massachusetts section of the convention floor that 'I want you to know we have everything we need' in this state. (Everything except an uninterrupted flow of National Institutes of Health funding, that is.) Advertisement Kendalle Burlin O'Connell , chief executive of the Massachusetts Biotechnology Council , moderated the discussion. She asked Healey and Casper what Massachusetts should do to remain the top state for the life sciences sector. Healey responded by saying the state needs even more partnerships among the hospitals, universities, and venture capitalists here. 'That kind of communication is what makes this ecosystem so powerful,' Healey said. 'It's also going to help us get through the moment that we're in.' Casper had a similar message about the importance of industry collaboration. He also talked about Thermo Fisher's domestic manufacturing efforts, including a Plainville factory that it opened in 2022 to make viral vectors (a key component in gene therapies). He noted his company's announcement in April to spend $1.5 billion over four years to enhance and expand its US manufacturing. 'As we get commitments from our clients, you'll see us adding new lines to our infrastructure,' Casper said. 'It's an exciting time.' The positive vibes continued with the subsequent panel, in which Eli Lilly executive Vanessa Barth , Deborah Glasser of Sanofi , and Maurice Phelan of Sartorius talked about why their companies chose to grow in Massachusetts. The consensus: It's hard to beat the potent mixture of talent, universities, research, and venture capital in Greater Boston. 'There's no other place in the world that's like Kendall Square, and it's now expanding beyond Kendall Square,' Glasser said of the Cambridge life sciences hub. 'Everybody is trying to copy that Kendall Square recipe.' Advertisement Nucci retires from role shaping Suffolk University John Nucci posed for a portrait near his East Boston home in 2021. Erin Clark/Globe Staff Suffolk University has shifted its center of gravity from the Beacon Hill neighborhood to the Tremont Street corridor over the past two decades, and perhaps no one is more responsible than senior vice president John Nucci . Now, after 19 years in Suffolk leadership, Nucci has decided to retire at the age of 73. He leaves at the end of August. Dorm conversions at One Court St. and 10 West St. The Modern Theatre rehab, plus more dorms on top. And now, even more When he joined the Suffolk administration in 2006, after teaching there as an adjunct for 14 years, it was important for Nucci to move the school away from the residential areas of Beacon Hill, in part to improve town-gown relations. 'If you stroll from one end of our downtown campus to the other . . . you can see the hand of John Nucci,' president Marisa Kelly said in a memo to staff, calling Nucci a critical liaison between Suffolk and local civic leaders. Retirement is not the same as goodbye. Nucci will still serve on the Massachusetts Port Authority 's board of directors, and he suspects he might get involved in civic affairs in some other capacity. 'The odds say that I won't be able to stay away from the action,' Nucci said. 'For now, it's time to get off the merry-go-round.' Charities win big in Boston Marathon Runners crossed the finish line during the 129th Boston Marathon on April 21. Brett Phelps for The Boston Globe Another big record was set at the The Boston Athletic Association announced that the Marathon raised $50.4 million for 176 nonprofits, besting the record set last year of $45.7 million. While most of the 30,000 runners earned a spot by meeting a qualifying time, about 10 percent ran because they raised funds for a charity. Advertisement This marks the second year since Bank of America John Hancock . BAA president Jack Fleming said the bank's approach to highlighting everyday runners and their charitable quests made a difference in the fundraising. Bank executive Miceal Chamberlain said the fund-raising legacy started by the BAA and John Hancock in 1989 was one of the big factors behind the bank's interest in becoming a sponsor. The bank put its marketing muscle behind the effort, using TV ads and signage on its national network of ATMs to highlight charity runners, and created a web portal that allowed people to donate to runners, or to specific charities. The BAA does a great job highlighting the elites, Chamberlain said, but bank executives wanted to spotlight the charity runners and their causes. Bank employees look forward to Patriots Day to volunteer for the race, and in many cases, cheer on colleagues. 'There's a tremendous sense of pride,' Chamberlain said. 'This race means so much to the people who grew up in the region.' Jon Chesto can be reached at
Business Journals
18-06-2025
- Business
- Business Journals
How the BIO International Convention allows the United Kingdom to show it's open for business
The annual BIO International conference is large. Very large, with around 20,000 leaders from the global biotech ecosystem in attendance. So it's no surprise that for years, the UK's Department for Business and Trade (DBT) and its partner, the Association of the British Pharmaceutical Industry, have hosted a UK Pavilion featuring UK innovators in the biotech industry, research and development. "BIO is a big conference; it's important for us to be there to show the UK is open for business as every country you can think of is represented,' says Karl Davison, senior business development manager at the National Institute for Health and Care Research (NIHR), one of the organizations on the UK Pavillion. The UK Pavilion isn't just open for business. It's a one-stop shop, making it as easy as possible for potential U.S. and global partners to make fruitful UK connections and gain insight across UK biotech's broad ecosystem of innovation and resources. "Our collaboration with the DBT on the UK Pavilion is central to our global engagement strategy,' says James Richards, Ph.D., NIHR's head of business development. 'It allows international companies to access a uniquely streamlined experience: in a single, highly productive meeting, they can speak to UK experts on regulation, life sciences policy, how to set up a commercial base in the UK — and with the NIHR about our world-class research infrastructure. Together, we can provide a comprehensive introduction to the UK's life sciences ecosystem." Making connections Since 2015, 39 export partnerships, totalling nearly $300 million, have resulted from DBT support at the yearly BIO Conference. So, companies like hVIVO, a full-service Contract Research Organization and a global leader in human challenge trials, will be returning to the UK Pavilion with DBT, as will Merxin Ltd, a UK biotech research company specializing in dry powder and soft mist inhalers. "We had an extraordinary run last year at BIO International in San Diego," says Philippe Rogueda, chief business officer and chief operating officer at Merxin Ltd. "BIO is one of the most exciting events for new molecule therapies investment in North America, probably in the world. We met about 250 people and had 40 arranged meetings with a range of companies, which were in different stages of clinical development, as well as investors. Being part of the UK Pavilion with the UK Department of Business and Trade is great; there is a real benefit to having a physical presence at BIO." William Ward, business development manager at Merxin Ltd, adds: "You get the chance to meet some of these really innovative, emerging biotechs as well as big pharmas at BIO, and the risk appetite is there. Last year, we had several conversations with companies who maybe hadn't considered inhalation as their typical route of administration but were very keen to understand how they could utilize Merxin's devices to advance their therapies. That type of mindset and innovation is where some great partnerships can be formed." The benefits go both ways. "The ability to have face-to-face conversations makes for an impactful conference,' says Davison. 'Sometimes companies don't realize how much we can do to support them and, if we can provide them with a golden nugget of information, it makes the UK a stronger prospect for their next clinical trial." The UK-U.S. partnership: Greater together With its world-leading research institutions, innovative biotech companies, and commitment to science and technology advancement, the UK has a strong offer, including: The UK tech sector is one of only three nations valued at over $1 trillion, making it the third largest tech ecosystem in the world behind only the U.S. and China In 2023, UK startups raised the most venture capital in Europe The UK is home to four of the top 10 global universities for life sciences and medicine and leverages the expertise of the National Health Service (NHS), which offers an unmatched wealth of health data for innovative research The UK ranks third globally for elite artificial intelligence (AI) talent, number of AI startups, inward investment into AI and government readiness for AI adoption — with a sector valued at $92 billion. As global leaders in science and technology, the U.S. and UK make natural partners in R&D. In fact, more than 10% of U.S. foreign R&D investment goes into the UK, the largest share of any country where U.S. businesses invest in research and innovation. And following the landmark economic deal between the U.S. and UK earlier this year, the UK is working toward building a broad and deep a UK-U.S. science and technology partnership through which these science-rich nations will collaborate in biotech and life sciences, as well as quantum computing, nuclear fusion, and aerospace. If you're a U.S. investor or company that would like to learn more about how partnering with UK biotech can grow your business, stop by the UK Pavilion at BIO (Hall A, stand 765), or contact a DBT sector specialist near you who can connect you with UK suppliers and investment opportunities. Email us to learn more. The UK's Department for Business and Trade is an economic growth department. We ensure fair, competitive markets at home, secure access to new markets abroad, and support businesses to invest, export, and grow. Our priorities are the Industrial Strategy, Make Work Pay, the Trade Strategy and the Plan for Small Business.
Business Wire
18-06-2025
- Business
- Business Wire
JCR Pharmaceuticals Announces Launch of Mucopolysaccharidosis (MPS) Type II Disease Awareness Film Featured in
HYOGO, Japan--(BUSINESS WIRE)-- JCR Pharmaceuticals Co., Ltd. (TSE 4552; 'JCR'), a global specialty biopharmaceutical company dedicated to developing therapies for rare and genetic diseases, announced the launch of a film featured in The Next Frontier, a global branded film series presented by the Biotechnology Innovation Organization (BIO) and produced by BBC StoryWorks Commercial Productions. The Next Frontier series explores how biotechnology can be used effectively to address urgent challenges the world faces. As part of the series, the JCR-sponsored film tells the story of a family affected by mucopolysaccharidosis type II (MPS II, or Hunter syndrome), a rare, progressive, life-threatening lysosomal storage disorder. 'This film demonstrates the hardships and challenges that people living with MPS II face on a daily basis from the perspective of a family affected by this devastating and life-limiting disease,' said Shin Ashida, Chairman, President and CEO of JCR Pharmaceuticals. 'We are honored to participate in this important video series to shine a spotlight on MPS II and increase awareness worldwide about this debilitating rare disease for which patients desperately need new treatment options. This impactful story is a great illustration of how collaborating with patient communities drives progress. We are committed to supporting the MPS II patient community, and we look forward to advancing our investigational therapy for people living with MPS II.' The Next Frontier series highlights biotechnology's potential to help create a healthier and more sustainable future for all. The series delves into how powerful storytelling can turn complexity into clarity and breakthrough science into emotional connection. The series debuted at the BIO International Convention, taking place from June 16-19, 2025. Watch the JCR film here, and view the full The Next Frontier series here. About The Next Frontier Series The Next Frontier is a global branded film series presented by Biotechnology Innovation Organization (BIO) and produced by BBC StoryWorks Commercial Productions, and it explores how biotechnology can be used effectively to address urgent challenges the world faces. The series highlights biotechnology's potential to help create a healthier and more sustainable future for all. The series delves into how powerful storytelling can turn complexity into clarity and breakthrough science into emotional connection and features the tools that help the public not just understand biotech but believe in its potential. If the future depends on science, it also depends on the stories we tell. About Biotechnology Innovation Organization (BIO) BIO is the world's largest biotechnology organization, providing advocacy, business development and communications services, worldwide. BIO members are at the forefront of researching and developing innovative biotechnologies across healthcare, agriculture, industry, and the environment. Corporate members range from entrepreneurial companies developing a first product to Fortune 500 multinationals. BIO is helping to drive a revolution that aims to cure patients, protect our climate, and nourish humanity. About Mucopolysaccharidosis Type II (Hunter Syndrome) Mucopolysaccharidosis type II (MPS II, or Hunter syndrome) is an X-linked recessive lysosomal storage disorder caused by a deficiency of iduronate-2-sulfatase, an enzyme that breaks down complex carbohydrates called glycosaminoglycans (GAGs, also known as mucopolysaccharides) in the body. Hunter syndrome, which affects an estimated 2,000-3,000 individuals worldwide (according to JCR research), gives rise to a wide range of somatic and neurological symptoms. The current standard of care for Hunter syndrome is enzyme replacement therapy. Central nervous system symptoms related to MPS II have been unmet medical needs so far. About JCR Pharmaceuticals Co., Ltd. JCR Pharmaceuticals Co., Ltd. (TSE 4552) is a global specialty pharmaceutical company that develops treatments that go beyond rare diseases to solve the world's most complex healthcare challenges. We continue to build upon our 50-year legacy in Japan while expanding our global footprint into the U.S., Europe, and Latin America. We improve patients' lives by applying our scientific expertise and unique technologies to research, develop, and deliver next-generation therapies. Our approved products in Japan include therapies for the treatment of growth disorder, MPS II (Hunter syndrome), Fabry disease, acute graft-versus host disease, and renal anemia. Our investigational products in development worldwide are aimed at treating rare diseases including MPS I (Hurler, Hurler-Scheie and Scheie syndrome), MPS II, MPS IIIA and B (Sanfilippo syndrome type A and B), and more. Our core values – Putting people first, Forging our own path, Always advancing, and Committed to excellence – mean that the work we do benefits all our stakeholders, including employees, partners, and patients. We strive to expand the possibilities for patients while accelerating medical advancement at a global level. For more information, please visit the global website:
