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Yahoo
07-07-2025
- Business
- Yahoo
Ascentage Pharma Appoints Dr. Veet Misra as Chief Financial Officer and Eric Huang as Senior Vice President of Global Corporate Development and Finance
ROCKVILLE, Md. and SUZHOU, China, July 07, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) ('Ascentage Pharma' or the 'Company'), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced the appointments of Veet Misra, Ph.D., as the Company's Chief Financial Officer, and Mr. Eric Huang, as Senior Vice President of Global Corporate Development and Finance. Both Dr. Misra and Mr. Huang will report directly to Dajun Yang, M.D., Ph.D., the Company's Chairman & Chief Executive Officer. Dr. Yang said, 'I am excited to welcome Veet and Eric to our senior management team. As an innovative biopharmaceutical company dual listed on the Hong Kong Stock Exchange and Nasdaq, Ascentage Pharma is entering a phase of notable growth. The addition of these seasoned executives will help accelerate the implementation of our global strategy of becoming a leading, fully integrated global biopharmaceutical company.' Dr. Misra brings a rare combination of deep scientific background in biology and significant experience in U.S. capital markets in the biopharmaceutical sector. 'I am confident that Veet's unique blend of scientific acumen and capital markets expertise can help us garner stronger traction in the global capital markets and strengthen our operations,' added Dr. Yang. Mr. Huang brings rich expertise in the global pharmaceutical industry and a wealth of experience in corporate management. 'This makes Eric a great match for Ascentage Pharma's long-term growth needs. His experience will help drive excellence in Ascentage Pharma's corporate operations as the Company continues to make headway in expanding globally,' said Dr. Yang. Dr. Misra commented, 'I am thrilled to join Ascentage Pharma as its Chief Financial Officer. Ascentage Pharma is a global leader in apoptosis-targeted therapies. Its dual listing in Hong Kong and the U.S. reflects strong recognition of the Company in these two premier markets. I look forward to working with my colleagues to accelerate the global development of the Company's innovative pipeline and create sustained value for patients and shareholders.' Mr. Huang said, 'It is my great honor to join Ascentage Pharma, a company that has established growing global competitiveness in the field of hematologic malignancies. The strategic partnership with Takeda and the dual listing in Hong Kong and the U.S. have created a sound foundation for global expansion. I look forward to working closely with the Company's management team to further improve operations and efficiently integrate the Company's existing resources to accelerate the global development and commercialization of its core assets, ultimately bringing more novel therapeutics to patients in need.' Dr. Misra has more than 20 years of experience in investment banking. Prior to joining Ascentage Pharma, he was a Managing Director in the Healthcare Investment Banking group at Cantor Fitzgerald where he covered the biopharmaceutical sector. Before that, he worked in the life sciences investment banking groups at Houlihan Lokey and RBC Capital Markets. Over the course of his banking career, Dr. Misra advised on deals spanning equity, equity-linked, debt, and debt restructuring, as well as buy-side/sell-side M&A and corporate strategy, primarily focusing on the biotechnology sector. Dr. Misra earned a Ph.D. in Molecular Biology, with a focus on the oncology field, from the University of Toronto and an MBA in Finance & Strategy from the Schulich School of Business in Toronto. Mr. Huang has served in various managerial positions at multinational companies for more than 20 years and possesses extensive experience in driving continuous financial performance improvement, business/operational excellence, and global operations. Prior to joining Ascentage Pharma, Mr. Huang served as the Chief Financial Officer for Greater China and Asia-Pacific at Beigene, where he also led Global Technical Operations Finance and Global Commercial Finance, and implemented comprehensive financial planning management and optimized globally-based resource allocation leading to sustained financial improvements. Before that, Mr. Huang was at Novartis, where he served as the head of finance for multiple countries and regions. Mr. Huang received an MBA in Finance from Dowling Business School. About Ascentage Pharma Ascentage Pharma (NASDAQ: AAPG; HKEX: 6855) is a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers. The company has built a rich pipeline of innovative drug candidates that includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53 and next-generation kinase inhibitors. The lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). The Company is currently conducting an FDA-cleared, global registrational Phase III trial, or POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients. The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. The NDA for the treatment of relapsed and/or refractory CLL and SLL was accepted with Priority Review designation by China's National Medical Products Administration. The Company is currently conducting 4 global registrational Phase III trials: the GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the GLORA-4 study in patients with newly diagnosed higher risk MDS. Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled 'Risk factors' and 'Special note regarding forward-looking statements and industry data' in its Registration Statement on Form F-1, as amended, filed with the SEC on January 21, 2025, and the Form 20-F filed with the SEC on April 16, 2025, the sections headed 'Forward-looking Statements' and 'Risk Factors' in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited we made or make from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company's management. As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ContactsInvestor Relations:Hogan Wan, Head of IR and StrategyAscentage 512 85557777 Stephanie CarringtonICR (646) 277-1282 Media Relations:Sean LeousICR (646) 866-4012
Associated Press
01-07-2025
- Business
- Associated Press
WuXi XDC Announces the Mechanical Completion of its Singapore Site, Accelerating the Global Expansion of Bioconjugates Manufacturing
SHANGHAI and SINGAPORE, July 1, 2025 /PRNewswire/ -- On June 30, WuXi XDC Cayman Inc. ('WuXi XDC', stock code: a leading global Contract Research, Development and Manufacturing Organization (CRDMO) focused on the bioconjugate industry, announced that the mechanical completion of its manufacturing site at Tuas Biomedical Park in Singapore has been successfully achieved. This milestone signifies that this manufacturing site, spanning approximately 25,000 square meters, will now officially transition into the facility C&Q (Commissioning and Qualification) stage. The Singapore site is expected to commence operations by the end of 2025 and Good Manufacturing Practice (GMP) manufacturing in 2026. Upon that, the site will offer comprehensive production capabilities from the preclinical stage to commercialization. As a critical component of WuXi XDC's global strategy, the Singapore site has demonstrated exceptional progress, adhering to the perfect execution and the 'WuXi Speed' to provide customers with agile and flexible end-to-end CRDMO services. According to current capacity plan, the site is anticipated to create more than 500 job opportunities and over 100 people have joined our company so far. Dr. Jimmy Li, CEO of WuXi XDC, stated, " The rapid mechanical completion of our Singapore site marks a critical pillar in our 'Global Dual-Sourcing' strategy. This global site will form a worldwide network alongside our Wuxi, Changzhou, and Shanghai sites, delivering end-to-end CRDMO services to global customers. This accomplishment showcases the full support of the partners for the construction of Singapore site, our deep understanding of global market demands, our ability to respond swiftly and the robust execution capabilities of our team. Looking ahead, we remain committed to advancing our one-stop model and global supply network, collaborating with global partners to promote the diversified and sustainable development of bioconjugates.' The Singapore site serves as a world-class, one-stop bioconjugates manufacturing center, integrating antibody intermediates, drug substance (DS), and drug products (DP). It strictly adheres to international certification standards and utilizes an advanced modular factory design. Key features include state-of-the-art antibody intermediates production lines, bioconjugate DS and DP production lines, MSAT lab, quality control, intelligent warehousing, and other utility support areas. Equipped with cutting-edge isolator filling lines, fully automated material transfer systems, and digital production management systems, the Singapore site supports multi-level demands ranging from small-scale clinical supplies to large-scale commercial manufacturing, including up to 2,000 liters per batch of mAb/DS, and 8 million vials of DP per year. These capabilities ensure the efficient advancement of projects across various stages while maintaining adherence to the highest quality standards. The Singapore site will be operated under the highest international quality assurance standards, fully complying with Good Manufacturing Practice (GMP) regulations established by the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and China's National Medical Products Administration (NMPA). This ensures comprehensive compliance throughout the production process, from antibody intermediates and DS to DP, enabling seamless product release globally. Additionally, the site incorporates environmentally friendly practices, utilizing certified eco-friendly products and implementing strict recycling and waste disposal systems to promote sustainability and enhance the company's ESG management level. About WuXi XDC WuXi XDC Cayman Inc. (stock code: is a globally recognized contract research, development, and manufacturing organization (CRDMO) specializing in bioconjugates. The company offers a wide range of innovative conjugation and payload-linker technologies to facilitate the development of next-generation antibody-drug conjugates (ADCs). Focused on early-stage research and development of ADCs and other bioconjugates, WuXi XDC offers comprehensive one-stop services from clinical to commercial manufacturing. Its services cover antibody intermediates and other biologics intermediates, chemical payloads and linkers, as well as bioconjugate drug substances and drug products. For more information about WuXi XDC, please visit: WuXi XDC Contacts Investor: [email protected] Media: [email protected] BD: [email protected] View original content: SOURCE WuXi XDC
Al Jazeera
20-06-2025
- Politics
- Al Jazeera
Is it time for Europe to choose China over the US?
As Donald Trump barrels through his second term in the White House, Europe faces a question it has long avoided: Should it continue clinging to its alliance with the United States, or is it time to chart a new course – perhaps one that leads eastwards? In April, Chinese President Xi Jinping urged Spanish Prime Minister Pedro Sanchez to encourage the European Union to 'resist together' against Washington's 'unilateral coercion'. This coercion is not limited to trade; it extends to politics, culture and global strategy. For Europe, the question is not simply whether the US remains a powerful ally but whether it is still the right one. A closer relationship with China now offers distinct advantages – an idea likely to be discussed at the EU-China summit in July. While European attitudes towards China remain cautious, as demonstrated by recent tariffs targeting low-cost imports from platforms like Temu and Shein, Europe's strategic reflex still defaults to the US, especially in finance and defence. That reflex, born of history, is increasingly out of step with Europe's long-term interests. The US has long pursued a consistent global aim: to preserve its position as the world's sole superpower. But under President Trump, US global leadership has taken a darker turn. Basic democratic principles are being eroded. Human rights, academic freedom and social justice have come under sustained assault. From unconditional support for Israel's devastating assault on Gaza – widely condemned as a genocide – to greenlighting a newly launched war on Iran, mass deportations and the dismantling of university funding, Trump's United States is actively undermining the values it once claimed to champion. China, of course, has its own challenges. It lacks press freedom, censors dissent and tightly controls public discourse. But is the democratic West still so different? In an information landscape dominated by a handful of tech billionaires, platforms like X and Facebook amplify misinformation and conspiracy theories while marginalising serious public debate. The treatment of whistleblowers such as Julian Assange, Chelsea Manning and Edward Snowden further suggests that truth itself has become a threat to what now passes as American democracy rather than a foundation of it. Europe must also confront the economic and political model it shares with the US. Democracy, once a source of pride, increasingly functions as ideological cover for oligarchy – rule by and for the few. Trump embodies this shift, treating democratic norms as obstacles to unending accumulation. But he is not alone in this. Across the West, wealth is increasingly concentrated and politics increasingly unresponsive to the needs of most of its people. The contrast between Washington and Beijing in foreign affairs also warrants attention. China maintains one overseas military base, in Djibouti, and a handful of small support outposts. The US, by contrast, operates more than 750 military installations worldwide. That vast footprint may soon serve Trump's revived imperial imagination: He recently shared a video envisioning Gaza as the 'Riviera of the Middle East' after saying its Palestinian residents would be resettled elsewhere. China, meanwhile, opposed such forced displacement and reaffirmed the Palestinian right to resist foreign occupation. China is also becoming an increasingly attractive destination for education. With more than 3,000 universities serving over 40 million students, its system is both expansive and accessible. Tuition ranges from $1,500 to $3,000 a year, in stark contrast to the $40,000 charged by many US institutions. Universities like Tsinghua are gaining global recognition for high-impact research. And while these institutions operate under strict censorship, they remain a serious alternative – especially as US campuses now face student repression, visa crackdowns and mounting political interference. Why, then, does the EU remain tethered to an alliance that increasingly undermines its values and interests? The truth is that Europe is not yet politically sovereign. It lacks a unified economy, military, tax system and labour market. From north to south, east to west, the continent is fragmented – linguistically, culturally and politically. In a 2017 speech at the Sorbonne, French President Emmanuel Macron spoke of 'European sovereignty'. But that is precisely what Europe still lacks: the ability to evaluate its interests independently and form alliances accordingly. Until that sovereignty becomes reality, any talk of shifting alliances – however urgent – remains largely theoretical. China is prepared for a new era of cooperation. Europe, paralysed by internal division and outdated loyalties, is not. Yet Trump's United States is doing everything it can to make the eventual choice for Europe clearer by the day. The views expressed in this article are the author's own and do not necessarily reflect Al Jazeera's editorial stance.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
PepsiCo's International Business Shines: Can It Reignite Performance?
PepsiCo, Inc. 's PEP international business is a cornerstone of its global strategy and long-term growth strategy. In first-quarter 2025, its international business delivered 5% organic revenue growth, marking the 16th consecutive quarter of at least mid-single-digit growth, despite ongoing geopolitical and macroeconomic challenges. Strong international demand for products like Tropicana juices and Cheetos helped to offset the slowdown in the U.S. market. This business is also central to PepsiCo's diversification efforts, contributing nearly 40% of the company's total 2024 net revenues and core operating profit, and representing a significant portion of its nearly $37 billion international portfolio. PepsiCo's international beverages business led the performance, achieving 11% organic growth in first-quarter 2025, driven by robust demand in key markets including China, India, Egypt, Turkey, Mexico, Brazil, the U.K. and Australia, alongside market share gains in Germany, France, Spain and South Korea. Meanwhile, the company's international convenient foods business grew 2% organically, driven by strength in markets like Brazil, Egypt, India and Turkey, and complemented by snack share gains in China, South Africa, Poland and Thailand. These results highlight the company's ability to tailor products to local preferences while strengthening market share across both beverages and snacks in a broad array of global regions. Looking ahead, PepsiCo plans to build its global momentum by scaling its international presence and deepening its localization efforts. This includes adapting its product offerings to suit regional tastes, modifying price-pack architectures to provide greater consumer value and expanding channel reach. The company also aims to elevate productivity through investments in automation, digitalization and standardization across global operations, freeing up capital to reinvest in commercial initiatives and innovation. PepsiCo's international growth strategy is focused on long-term profitability through sustained product innovation, market-specific customization and operational efficiency. Despite near-term headwinds from foreign exchange and supply chain inflation, particularly due to tariffs and input sourcing challenges, the company remains confident in the resilience and scalability of its global model. With a firm commitment to adaptability and efficiency, PepsiCo's international operations continue to play an essential role in supporting its broader strategic and financial goals. PEP's Competition in the International Market The Coca-Cola Company KO and Monster Beverage MNST are the key beverage companies competing with PepsiCo in the global arena. Coca-Cola, a leading beverage company, is PepsiCo's key competitor in the international market. Coca-Cola and PepsiCo compete directly in several international markets, including India, China, Brazil and Mexico. In these regions, both companies vie for market share in the non-alcoholic beverage sector, employing strategies tailored to local consumer preferences and leveraging their extensive distribution networks. Coca-Cola's international strategy focuses on being a "Total Beverage Company," expanding beyond carbonated drinks to include juices, dairy, plant-based beverages and energy drinks. Regionally, Coca-Cola's market share is particularly strong in Latin America (61.8%), Western Europe (51.8%) and the Asia-Pacific region (50.9%). This dominance is attributed to its strategic localization efforts, adapting products to suit regional tastes and preferences. Coca-Cola's international business remains a critical driver of its global performance, contributing approximately 61.3% of its total revenues in 2024. Monster Beverage's international business continues to be a key growth driver, contributing approximately 39.6% of its total revenues in the first quarter of 2025. Strategically, MNST is focused on expanding its international footprint through product launches in key markets such as China, India and the EMEA region. The development of a juice production facility in Ireland is part of its efforts to bolster growth and regional efficiencies. These initiatives aim to enhance Monster Beverage's global presence and adapt to regional consumer preferences. Monster Beverage's international operations overlap with PepsiCo's in several key markets, including China, India and Mexico. In these regions, both companies compete in the energy drink segment, with PepsiCo's Rockstar brand and MNST's diverse offerings like Reign, Bang and NOS vying for market share. This competition underscores the dynamic nature of the global energy drink market and the strategic importance of these regions for both companies. PEP's Price Performance, Valuation and Estimates Shares of PepsiCo have lost around 13.5% year to date against the industry's growth of 6.9%. From a valuation standpoint, PEP trades at a forward price-to-earnings ratio of 16.33X, significantly below the industry's average of 18.59X. The Zacks Consensus Estimate for PEP's 2025 earnings implies a year-over-year decline of 3.6%, whereas its 2026 earnings estimate suggests a year-over-year uptick of 5.4%. The estimates for 2025 and 2026 have been southbound in the past 30 days. PEP stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CocaCola Company (The) (KO): Free Stock Analysis Report PepsiCo, Inc. (PEP): Free Stock Analysis Report Monster Beverage Corporation (MNST): Free Stock Analysis Report
Yahoo
01-06-2025
- Business
- Yahoo
JPMorgan Chief Strategist on Tariffs, Investing Abroad and More
David Kelly, Chief Global Strategist for J.P. Morgan Asset Management, joins WSJ's Take On the Week podcast to explain the importance of global investment diversification. 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
