Roche ready to make Tamiflu in US

first_imgSep 20, 2006 (CIDRAP News) – Roche announced last week that its United States supply chain for oseltamivir (Tamiflu), used to treat avian influenza and seasonal flu patients, is fully operational, meaning all aspects of its production are based on US soil.The company said it now has the capability to produce 80 million treatment courses of the drug annually in the United States, which is stockpiling oseltamivir as part of efforts to prepare for a flu pandemic.The US Department of Health and Human Services (HHS) had asked Roche to establish a system that involves US sources for all phases of osteltamivir production, from synthesizing shikimic acid, the starting material, to packaging the medication, the company said in a news release.”The ability to produce Tamiflu from start to finish on US soil is a significant milestone that will help ensure access to Tamiflu when and where it is needed,” said George Abercrombie, president and chief executive officer for Hoffman-La Roche, Inc., the company’s US pharmaceutical division.The company said HHS has ordered 21.3 million treatment courses of oseltamivir for the Strategic National Stockpile, all of which will be delivered by the end of this year. Marc Wolfson, a spokesman for the HHS Office of Public Health Emergency Preparedness in Washington, DC, verified that information for CIDRAP News.The long-term goal for the stockpile is 81 million courses by the end of 2008, according to Wolfson and Roche. Of that total, HHS says it will buy 50 million courses and will provide a 25% subsidy for states to purchase another 31 million courses.Roche says that with its own manufacturing network and 16 external contractors, it has more than enough capacity to meet the osteltamivir orders from 75 countries that are stockpiling the drug. Global annual production capacity will reach 400 million treatment courses by the end of this year, the company said.Approved for prevention and treatment of influenza in adults and children 1 year and older, osteltamivir is intended to treat influenza viruses in all clinical settings. It has been shown to be active against the H5N1 virus in the laboratory and in animals that are infected with an H5N1 avian flu strain taken from humans, according to Roche.See also:Sep 14 Roche press release read more

Fed may not tighten credit until next year, experts say

first_img“The Fed continues to expect a December hike, as signalled by its dots chart,” he said.“However, there were otherwise doveish elements to (the) announcement, including a lowering of short-run growth and inflation forecasts and long-term growth, unemployment and the Fed funds rate projections.”He said AXA IM believed the FOMC was likely to hike in December, particularly if the Q3 employment cost index shows some signs of revival.“In the interim, we expect speculation to rise that the Fed will not tighten policy this year,” he said.In a global research report, Bank of America Merrill Lynch said the Fed’s decision was about as doveish as it could be for equity investors, with the committee members having committed to watch international developments.“Similar to deferral of Fed tapering in 2013, we see this as supportive to equities given the de-risking already undertaken,” it said.Peter O’Flanagan, head of foreign exchange trading at ClearTreasury, also noted the way the Fed statement referred to worries about the slowdown in the external environment.“Previously, the Fed had indicated it would be focused on the domestic economy when making decisions around rate hikes, but things have certainly changed,” he said.“Now, it is looking at events in China and other emerging markets and their potential impact on global growth.”Although the Fed maintained it still expected to hike this year, O’Flanagan said December was the only real possibility for this to happen.He said he saw the first quarter of next year as a more realistic target.Lee Ferridge, head of North American macro strategy at State Street Global Markets, said the Fed’s international focus had increased the importance of dollar strength, with the US currency being “the doorway by which the global economy affects the domestic one.”“Now it’s a waiting game again, and every upcoming meeting is on the table so long as data and conditions can justify a move,” he said.“However, there is no guarantee the conditions will be satisfactory ahead of the end of 2015.”Meanwhile, Rick Rieder, CIO of fundamental fixed income at BlackRock, said there were strong signals that a rate hike before the end of the year was very probable.Rieder said the timing of the next increase was much less important than the pace of credit tightening, and that the Fed had already said it would be measured in its approach.“It is very clear the Fed’s monetary policy this upcoming cycle will be nothing like the historic tightening cycles of the past in terms of the consistency of movement at each meeting, or the long-term trajectory of significant rate rises,” he said.Felix Wintle, head of US equities at Neptune Investment Management, also said he expected a rate cut this year.“At Neptune, we are still confident the Fed will raise rates in 2015 and believe December is now the most likely time for this,” he said.Even though the language accompanying yesterday’s decision was doveish, rate rises may come quicker than the market expects, he said.Rising rates will change the investment landscape, he said, with a rising rate environment creating winners and losers among sectors and stocks.“This is because, as interest rates rise, so does the cost of capital – i.e. the cost of credit to corporates,” he said.He said this spelled trouble for companies relying on raising capital to run their business and those that were highly geared.At Amundi, Philippe Ithurbide, global head of research, strategy and analysis, and Bastien Drut, head of strategy and economic research, saw December as the most likely time for the FOMC to make its first rate hike.“But it will stay in very gradual mode and, at the most, tighten by 25 basis points per quarter,” they said.Robeco’s chief economist Léon Cornelissen said that, if the economic climate remained favourable, the most likely scenario was for the Fed to make a first modest rate hike in December, followed by an explanatory press conference by Yellen. The US Federal Reserve’s decision yesterday to hold its key interest rate at zero, coupled with its cautious comments and new focus on the possible impact of external factors, means the cost of central bank credit may stay put until next year, according to asset managers and economists.Although most expected a rate rise to happen in December, many analysts also scrutinised comments by Fed chair Janet Yellen following the decision, which were seen as indicating a more doveish attitude to raising interest rates, as well as a downward revision in its long-term rate outlook.At its meeting yesterday, the Federal Open Market Committee (FOMC) left the Fed funds rate unchanged at 0.00-0.25%.At AXA Investment Managers (AXA IM), senior economist David Page said it was important the Fed lowered its long-term rate outlook to 1.8-2.2% from 2-2.3%.last_img read more

Benitez stands by team selection

first_img Press Association The defeat means Chelsea dropped below London rivals Tottenham into fourth place in the table but with five games in a two-week period – including both legs of a Europa League quarter-final with Rubin Kazan – Benitez feels his side are still in the hunt for both a top-four finish and silverware. “I have confidence that we will finish in the top four and maybe we can win one or two trophies,” he added. “I have the belief and the confidence in these players because they have the quality and if they realise that we have to start games with the same intensity as the second half (against Southampton), we can beat anyone.” Chelsea have already played 54 games this season and the Blues’ players are no strangers to the rigours of playing midweek games off the back of league fixtures. But Benitez feels the proximity of the FA Cup replay against United – with the winners to face Manchester City in a Wembley semi-final – makes for difficult preparation. “This one is so close,” he said. “48 hours, less than 48 hours, you have to make decisions. If you have three days, four days you can manage in a different way. But two days between games is not easy. “It (the performance against United) has to be good. Everybody knows this is a massive game against a very good side in a massive competition. It has to be positive for the players.” Chelsea were without Juan Mata for the defeat at Southampton with the 24-year-old missing through illness. Mata has struck 18 goals in all competitions this season and is likely to return to face United but Gary Cahill, who is carrying a knee injury, is not expected to be fit in time. The FA Cup quarter-final replay against United comes less than 48 hours after the Barclays Premier League loss against the Saints. Benitez made seven changes for the trip to St Mary’s and the gamble backfired as goals from Jay Rodriguez and Rickie Lambert earned Southampton the victory, with returning skipper John Terry briefly levelling the scoreline in the first half. “You have to make decisions and use the squad,” he said. “Southampton is a good team on one level and Manchester United is another team on another level. In the league, you have more games to play and will be going to the end. In the FA Cup you have one game and you will be out. You have to find the balance for players who are playing more games or less games.” center_img Chelsea interim manager Rafael Benitez has stood by his team selection for the 2-1 defeat at Southampton on Saturday as he prepares for Monday’s clash with Manchester United.last_img read more

Embattled AFN Boss, Gusau, Raises Alarm over Persecution

first_imgIbrahim Shehu Gusau NPFL MatchDay 7 ResultsKano Pillars 6-1 Delta ForceAkwa Utd 4- 0 Adamawa UtdSunshine 4-2 Nasarawa UtdFC IfeanyiUbah 2-0 WikkiHeartland 1-0 Plateau UtdKatsina Utd 1-0 MFMWolves 0-0 Lobi StarsAbia Warriors 1-1 Akwa StarletsShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram But fielding questions from the media in Lagos yesterday, Gusau said his travails began when he invited the Independent Corrupt Practices Commission (ICPC) to look into the $130, 000 saga with a view to clearing his name. Before taking that action, he said he was picked as the culprit in the case even when he was innocent of the charges.“On the inauguration of our board in July, 2017, I was confronted with an allegation in respect of USD150, 000 paid to the AFN. I was accused of mismanaging the funds and in keeping with the President Buhari’s commitment to accountability and transparency, I submitted myself to the relevant agencies for investigation.“The individual reports exonerated me from any culpability but raised questions which the agencies are diligently pursuing.“My action in submitting myself to be investigated laid the foundation for the misunderstandings being experienced in the AFN today.“It is common knowledge that the President Buhari has been doing everything within his powers to attract foreign investment. He is also irrevocably committed to creating jobs, especially for our teeming youth.“Let me make it abundantly clear that everything we have done has been with the best interests of athletes in mind and an innate desire to develop athletics in Nigeria. We believe that without athletes, there will be no sports and without sports, there will be no Sports Federation.“We had no intention of addressing the Press as we believed the matter at hand is one that can be resolved as a family. When we realised that some of our members did not share our visions, aspirations and determination to abide by our statutes, we decided to take the matter to the Congress to sort out all grey areas. We believed and still believe that whatever grievances our colleagues have, can be handled by the Congress, which is the highest decision making arm of our Federation.“At this point, we are convinced that “silence” is no longer golden. When you allow falsehood to thrive, after a while, it assumes the position of the truth. We shall address a few of the issues raised, with documents, and let Nigerians be the judge.”Gusau said the Sports Ministry top shots were misled into believing that the meeting in Abuja, where he was impeached, was duly convened, adding that the only meeting sanctioned by the board was the one held in Awka last week.He added, “By a letter dated November 5, 2019 and signed by the then Secretary General of the AFN, Adamu E. A., States’ Athletics Associations were invited to an Annual General Congress.“Arrival for the Awka board meeting and Congress was scheduled for December 3, 2019, which is the same day a board meeting, purportedly convened by me was to hold.”Gusau questioned the status some of the members who attended the meeting in Abuja, saying only elected members have the right to take certain decisions.He said that the extra-ordinary congress in Awka had representatives from 29 states’ Athletics’ Associations as participants, adding, “The first Vice President of the Nigeria Olympic Committee, Solomon Ogba, represented the President, Habu Ahmed Gumel.”He also explained that securing alternative means of funding the activities of the federation would ease the pressure on government and the scarce resources pursued by every sector of the economy, adding, “this is part of the reasons we seek autonomy to enable us increase the funding base of the Federation.”On the sponsorship agreement with Puma, Gusau denied the allegations that members were not carried along when the deal was being negotiated, adding, “I am pleased to inform Nigerians that the Puma sponsorship deal, which is in kind, will runfrom September 1, 2019 to December 31, 2022. It is unique in the sense that Puma will deliver kits worth $2.76 million to the Federation in Abuja, Nigeria. That way, we do not have to spend scarce resources available to be travelling to Germany to collect the kits.“We are working hard to ease the pressure on government yet some people are bent on frustrating our efforts.”center_img Femi SolajaAs the battle for the soul of athletics management continues to rage in the country, the embattled Athletics Federation of Nigeria (AFN) President, Ibrahim Shehu Gusau, who was placed under suspension by some members of the federation’ last week yesterday declared all the allegation leveled against him are farce but would be willing to dialogue in the interest of the sport in the country.Hammer fell on the boss last week when some members suspended him for alleged violation of the constitution of the federation, misappropriation and misapplication of funds, and his penchant for taking unilateral decisions without the board’s approval, among other charges.last_img read more