HemoHim Manufacturer Kolmar BNH Receives NAI Classification from the US FDA

 SEOUL, South Korea - Monday, 21. October 2024 AETOSWire 

(BUSINESS WIRE)--‘HemoHim,’ an immune-boosting health supplement from Kolmar BNH (KRX: 200130), has earned international recognition for its quality from both the U.S. Food and Drug Administration (FDA) and Australia’s Therapeutic Goods Administration (TGA), enhancing its credibility in the global marketplace.

Kolmar BNH announced that its Sejong plant obtained a No Action Indicated (NAI) classification following an inspection by the U.S. FDA in September. This classification, which confirms that the facility fully complies with U.S. Current Good Manufacturing Practice (cGMP) standards for quality control, has further intensified Kolmar BNH’s competitiveness as a leading global Original Development Manufacturer (ODM) in the health supplement industry.

The FDA inspection was conducted to evaluate Kolmar BNH’s quality management capabilities, particularly in response to the increasing exports of HemoHim to the U.S. The NAI classification reflects a comprehensive evaluation of key factors, including manufacturing processes, hygiene standards, quality control procedures, and employee training. HemoHim, a low-acid liquid dietary supplement, underwent extensive testing, including assessments of raw material quality management, pH levels, and stability, to achieve perfect scores across all these criteria.

HemoHim’s quality has previously been recognized in Australia, where the Sejong plant obtained Good Manufacturing Practice (GMP) certification from the TGA in 2021. The TGA, responsible for regulating pharmaceuticals and healthcare products (health supplements) in Australia, issues GMP certification based on an extensive evaluation of product efficacy, safety, and the suitability of the production processes. Furthermore, under the Mutual Recognition Arrangement (MRA) between Australia and Europe, products certified by the TGA benefit from streamlined export procedures within Europe.

To meet the Australian TGA’s GMP standards, Kolmar BNH implemented a Standard Operating Procedure (SOP) at the Sejong plant that aligns with international GMP guidelines for pharmaceutical production and quality control. The company also introduced a real-time production monitoring system and conducted quality tests that far exceeded Korean regulatory standards, ensuring defect-free products. Through these combined efforts, the company earned recognition for its reliable pharmaceutical quality.

Building on its success with FDA and TGA certifications, Kolmar BNH plans to expedite HemoHim's expansion into global markets. Launched in 2006, HemoHim is Korea’s first individually approved immune-boosting supplement, made from Korean natural ingredients such as Angelica gigas, Cnidium officinale, and Paeonia japonica. Distributed by Atomy, one of Kolmar BNH’s key partners, the product is currently exported to approximately 20 countries, including the United States and China. Since its debut, HemoHim has generated over KRW 2 trillion in cumulative sales, both at home and abroad, with an unprecedented export record of over USD 200 million. It has maintained its position as the top-selling product in the immune-boosting health supplement category in Korea for more than a decade.

An official from Kolmar BNH said, “The U.S. FDA’s inspection is a critical benchmark for ensuring product safety and efficacy through a thorough and organized process. Receiving a No Action Indicated (NAI) classification is a significant achievement for Kolmar BNH, as it validates the quality of our products on the global stage. We are committed to enhancing our competitiveness in global markets through ongoing quality innovation and additional global certifications, with HemoHim at the forefront of our efforts.”

 

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Contacts

Kolmar Holdings

Jang Woo Lee

jay.lee@kolmar.co.kr

Arthur D. Little Appoints 9 New Partners Across Global Offices

 LONDON - Monday, 21. October 2024

(BUSINESS WIRE)--Arthur D. Little (ADL) today announced the election of nine new Partners across its offices and practices globally.

Promoting internal talent is a core value at ADL, and these recent promotions reflect the firm’s dedication to its people and their ongoing development. All the new Partners have showcased an impressive blend of sector knowledge and client expertise, supported by a strong grasp of market dynamics and a commitment to delivering value.

The latest promotions to Partner are as follows:

Elisabetta Cafforio, Telecom, IT, Media & Electronics Practice, Rome. With strong expertise in telecoms & media regulation, Elisabetta heads ADL’s Strategic Advisory Services for Competition and Regulation (SASCAR) Competence Center. She has successfully led and worked on a range of telecoms strategic regulatory projects in multiple countries and regions as well as M&A projects in the fixed and mobile telecommunication and media space.

Francesco Cotrone, Travel & Transportation Practice, Dubai. Francesco is a major contributor to the land logistics and postal platform in the Middle East and India, as well as being a major contributor to the Transformation practice in the region, with a significant focus on organization and human capital. He has contributed to an extensive range of ADL thought-leadership pieces around both logistics and transformation.

Hariprasad Pichai, Telecom, IT, Media & Electronics Practice, Boston. Since joining the US team, Hariprasad has grown the firm’s business within the technology and telecoms sector, advising clients and investors on corporate strategy and growth acceleration as the industry undergoes major disruption. A noted speaker on cloud computing and technology topics, he has presented at external and client events, as well as being frequently quoted in the media.

John Kim, Growth Practice, Tokyo. John is the digital champion for the Asia cluster, specializing in digital strategy, digital transformation, and advanced technologies such as Web3, Blockchain, and Metaverse. Over the past two years he has initiated and delivered over 20 projects with a digital theme across a range of sectors.

Michael Papadopoulos, Catalyst, London. Head of Architecture, Security & Compliance within Catalyst, Michael has over 15 years of experience in technology and digital consulting. He is currently responsible for leading the creation of innovative new technology-based product offerings, in areas including technology due diligence, cybersecurity assessment and social listening, which are being successfully delivered to ADL clients globally.

Naoki Matsuo, Performance Practice, Tokyo. A key member of the Performance practice, Naoki has a proven track record in advising leading organizations in multiple industries, including telecoms and energy & utilities, across a variety of topics, including growth strategy, transformation, and new business planning. He has a solid CXO network and deep knowledge in energy and utilities businesses, especially electricity.

Paritosh Mukhija, Telecom, IT, Media & Electronics Practice, Dubai. As the co-leader of our activities for Media, Entertainment, and Culture clients in the Middle East region, Paritosh advises both government entities and private companies on strategy, policy making, business planning, and implementation. He has collaborated with ADL colleagues worldwide on diverse projects across 10+ countries.

Samir Imran, Travel & Transportation Practice, Dubai. Samir heads ADL’s Future of Cities platform and is lead author of the ADL Autonomous Mobility Journal. He advises sovereign wealth funds as well as public and private sector clients on key topics such as investment strategy, operating model, Board governance and next-generation innovation agendas, and has presented at a range of global conferences.

Tobias Aebi, Energy & Utilities Practice, Dubai. Focused on working in the energy, aerospace and defense sectors, as well as advising on economic development, Tobias has been involved with delivering some of ADL’s landmark national strategy projects in the Middle East. He has been the co-leader of the global Power Generation Competence Center and pivotal in establishing Arthur D. Little’s regional aerospace, defense and security practice.

Ignacio García Alves, Chairman and Chief Executive Officer at Arthur D. Little, comments, “The strengths and experience of our newly appointed partners demonstrates the enormous talent pool within ADL, and the opportunities the firm provides for development across our global network of offices and practices. As part of our wider team, their experience and capabilities will help our clients transform their strategies and operations, enabling them to seize new opportunities, regardless of the sector they operate in.”

 

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Cate Bonthuys

Catalyst Comms

+44 7715 817589

bonthuys.cate@adlittle.com

For further information, please visit www.adlittle.com

MultiBank Group Receives the Best Multi-Asset Broker Award at the BrokersView Expo Abu Dhabi 2024

 DUBAI, United Arab Emirates - 

(BUSINESS WIRE) -- MultiBank Group, the world’s largest and most regulated financial derivatives institution, headquartered in Dubai, has been awarded a prestigious award for ‘Best Multi-Asset Broker’ at BrokersView Expo Abu Dhabi 2024.

One of the largest regional conferences for industry experts, traders and finance specialists is a significant platform for MultiBank Group to present its achievements. The award emphasizes the Group’s unwavering commitment to its extensive client base, offering over 20,000 financial products across six asset classes. Moreover, it emphasizes the Group’s dedication to introducing innovative trading products with exceptional trading conditions.

The event serves as a hub for networking and knowledge-sharing within the finance industry, with thousands of attendees exploring the latest trends and developments in global financial markets.

Naser Taher, Founder and Chairman of MultiBank Group, stated: “We are truly honored to receive the ‘Best Multi-Asset Broker’ award at the BrokersView Expo Abu Dhabi 2024. This recognition underscores our continuous efforts to deliver cutting-edge trading solutions across a broad spectrum of asset classes, supported by a robust regulatory framework and advanced technology. At MultiBank Group, we are committed to pushing boundaries, offering our clients an innovative and secure trading experience that meets the highest global standards.”

MultiBank Group, established in California, USA, in 2005, serves over 1 million clients in more than 100 countries and maintains a daily trading volume surpassing $15.6 billion. Known for its forward-thinking trading solutions, strong regulatory oversight, and outstanding customer support, the Group offers a comprehensive range of financial services, including brokerage and asset management. MultiBank Group is regulated across five continents by over 15 of the most esteemed financial regulatory bodies worldwide.

This latest recognition at the BrokersView Expo Abu Dhabi strengthens MultiBank Group’s extensive portfolio of global awards, celebrating its excellence in trading and regulatory compliance.

ABOUT MULTIBANK GROUP

MultiBank Group, established in California, USA in 2005, is a global leader in financial derivatives, serving over 1 million clients across 100 countries, and boasts a daily trading volume that exceeds $15.6 billion. Renowned for its innovative trading solutions, robust regulatory compliance, and exceptional customer service, the Group offers an array of brokerage services and asset management solutions. It is regulated across five continents by 15+ of the most reputable financial authorities globally. The group’s award-winning trading platforms offer up to 500:1 leverage on a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Cryptocurrencies. MultiBank Group has received over 65 financial awards recognizing its trading excellence and regulatory compliance. For more information, visit MultiBank Group’s website.

 

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Contacts

Yazan Shakfeh - Global Head of Marketing

Email: mohammad.shakfeh@multibankfx.com

Tel: 00971585754191

 

BeiGene Receives Positive CHMP Opinions for TEVIMBRA® as a First-Line Treatment for Advanced/Metastatic Gastric or Gastroesophageal Junction Cancer and Esophageal Squamous Cell Carcinoma

 SAN MATEO, Calif. 

Positive opinion for first-line treatment of gastric or gastroesophageal junction cancer based on results of RATIONALE-305 study demonstrating statistically significant overall survival benefit for TEVIMBRA in combination with platinum- and fluoropyrimidine-based chemotherapy

Positive opinion for first-line treatment of esophageal squamous cell carcinoma based on results of RATIONALE-306 study demonstrating statistically significant overall survival benefit for TEVIMBRA in combination with platinum-based chemotherapy

(BUSINESS WIRE)--BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global oncology company, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued positive opinions recommending an extended authorization for TEVIMBRA® (tislelizumab) in gastric or gastroesophageal junction (G/GEJ) adenocarcinoma and esophageal squamous cell carcinoma (ESCC).

In G/GEJ adenocarcinoma, the CHMP positive opinion is for TEVIMBRA in combination with platinum- and fluoropyrimidine-based chemotherapy for the first-line treatment of adult patients with HER2-negative locally advanced unresectable or metastatic G/GEJ cancer whose tumors express PD-L1 with a tumor area positivity (TAP) score ≥ 5%. In ESCC, the CHMP positive opinion is for TEVIMBRA in combination with platinum-based chemotherapy for the first-line treatment of adult patients with unresectable, locally advanced or metastatic ESCC whose tumors express PD-L1 with a TAP score ≥ 5%.

“Survival rates in the advanced stages of gastric/gastroesophageal and esophageal cancers are among the lowest of all cancer types despite recent advances, and new treatment options are needed,” said Prof. Florian Lordick, Director and Professor of Oncology of the University Cancer Center Leipzig, Germany. “The RATIONALE-305 and 306 trials showed that tislelizumab plus chemotherapy improved survival compared to treatment with placebo plus chemotherapy, highlighting its potential to deliver better outcomes for eligible patients.”

“TEVIMBRA is foundational for BeiGene’s solid tumor portfolio. In line with our commitment to help patients affected by cancer in Europe and across the globe, we recently launched TEVIMBRA in the EU for eligible patients in both the first- and second-line NSCLC settings and second-line ESCC,” said Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeiGene. “With these CHMP opinions, we are one step closer to bringing this innovative therapy to eligible patients with untreated G/GEJ cancer and ESCC , who face a poor prognosis and limited treatment options.”

The extension of indication application for first-line G/GEJ cancer is based on results from BeiGene’s RATIONALE-305 (NCT03777657), a randomized, double-blind, placebo-controlled, global Phase 3 trial to evaluate the efficacy and safety of TEVIMBRA in combination with chemotherapy as a first-line treatment for patients with advanced unresectable or metastatic G/GEJ cancer. The study enrolled 997 patients at research centers across Europe, North America and Asia-Pacific. The study met its primary endpoint and demonstrated a statistically significant and clinically meaningful overall survival (OS) benefit with a median OS of 15.0 months for patients treated with TEVIMBRA in combination with investigator’s choice of chemotherapy compared to 12.9 months for patients treated with placebo plus chemotherapy (n=997; HR: 0.80 [95% CI: 0.70, 0.92]; P=0.0011), resulting in a 20% reduction in the risk of death. In the PD-L1 ≥ 5% population, the median OS was 16.4 months for TEVIMBRA plus chemotherapy compared to 12.8 months for the placebo arm (HR: 0.71 [95% CI, 0.58-0.86]), which represents a 29% reduction in the risk of death.

The extension of indication application for first-line ESCC is based on results from BeiGene’s RATIONALE-306 (NCT03783442), a randomized, placebo-controlled, double-blind, global Phase 3 study to evaluate the efficacy and safety of TEVIMBRA in combination with chemotherapy as a first-line treatment in patients with unresectable, locally advanced recurrent or metastatic ESCC. The study enrolled 649 patients at research centers across Europe, North America and Asia-Pacific. The study met its primary endpoint, with first-line TEVIMBRA in combination with chemotherapy resulting in statistically significant and clinically meaningful OS benefit compared with placebo plus chemotherapy in the intent-to-treat population. The median OS was 17.2 months for TEVIMBRA with chemotherapy versus 10.6 months for placebo plus chemotherapy (HR: 0.66 [95% CI, 0.54-0.80, 1-sided p-value of < 0.0001]), a 34% reduction in the risk of death. Three-year OS in the PD-L1 ≥ 5% population was also substantially improved in favor of the TEVIMBRA arm (median 19.1 versus 10.0 months, respectively; HR: 0.62 [95% CI, 0.49-0.79]), demonstrating a 38% reduction in the risk of death.

The safety data in the applications included 1,534 patients who received TEVIMBRA monotherapy at the approved dosing regimen, and 1,319 patients with G/GEJ cancer, ESCC or NSCLC who received TEVIMBRA at the approved dosing regimen (200 mg every 3 weeks) in combination with various chemotherapies. The most common Grade 3 or 4 adverse reactions for TEVIMBRA given in combination with chemotherapy were neutropenia, thrombocytopenia, anemia, fatigue, hypokalemia, hyponatremia, pneumonia, decreased appetite, rash, lymphopenia, alanine aminotransferase increased, aspartate aminotransferase increased, diarrhea, pneumonitis, and hepatitis.

TEVIMBRA is approved in the EU for eligible patients with advanced or metastatic ESCC after prior platinum-based chemotherapy and for three non-small cell lung cancer (NSCLC) indications covering both the first- and second-line settings.

About Gastric and Gastroesophageal Junction (G/GEJ) Adenocarcinoma

Gastric (stomach) cancer is the fifth most common cancer worldwide and the fifth highest leading cause of cancer mortality.1 Nearly 1 million new patients were diagnosed with gastric cancer in 2022, and 660,000 deaths were reported globally. Gastroesophageal junction adenocarcinoma occurs at the area where the esophagus joins the stomach, which is just beneath the diaphragm (the thin sheet of breathing muscle under the lungs).2

About Esophageal Squamous Cell Carcinoma (ESCC)

Globally, esophageal cancer (EC) is the sixth most common cause of cancer-related deaths, and ESCC is the most common histologic subtype, accounting for nearly 90% of ECs. An estimated 957,000 new EC cases are projected in 2040, an increase of nearly 60% from 2020, underscoring the need for additional effective treatments.3 EC is a rapidly fatal disease, and more than two-thirds of patients have advanced or metastatic disease at the time of diagnosis, with an expected five-year survival rate of less than 6% for those with distant metastases.4

About TEVIMBRA (Tislelizumab)

TEVIMBRA is a uniquely designed humanized immunoglobulin G4 (IgG4) anti-programmed cell death protein 1 (PD-1) monoclonal antibody with high affinity and binding specificity against PD-1. It is designed to minimize binding to Fc-gamma (Fcγ) receptors on macrophages, helping to aid the body’s immune cells to detect and fight tumors.

Important Safety Information

The current European Summary of Product Characteristics (SmPC) for TEVIMBRA is available from the European Medicines Agency.

This information is intended for a global audience. Product indications vary by region.

About BeiGene

BeiGene is a global oncology company that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. With a broad portfolio, we are expediting development of our diverse pipeline of novel therapeutics through our internal capabilities and collaborations. We are committed to radically improving access to medicines for far more patients who need them. Our growing global team of more than 10,000 colleagues spans five continents. To learn more about BeiGene, please visit www.beigene.com and follow us on LinkedIn, X (formerly known as Twitter), Facebook and Instagram.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding tislelizumab’s potential to deliver better outcomes for eligible patients; and BeiGene’s plans, commitments, aspirations, and goals under the heading “About BeiGene.” Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing, and progress of clinical trials and marketing approval; BeiGene's ability to achieve commercial success for its marketed medicines and drug candidates, if approved; BeiGene's ability to obtain and maintain protection of intellectual property for its medicines and technology; BeiGene's reliance on third parties to conduct drug development, manufacturing, commercialization, and other services; BeiGene’s limited experience in obtaining regulatory approvals and commercializing pharmaceutical products and its ability to obtain additional funding for operations and to complete the development of its drug candidates and achieve and maintain profitability; and those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.

1 Ferlay J, Ervik M, Lam F, Laversanne M, Colombet M, Mery L, Piñeros M, Znaor A, Soerjomataram I, Bray F (2020). Global Cancer Observatory: Cancer Today. Lyon, France: International Agency for Research on Cancer. Available from: https://gco.iarc.who.int/today. Accessed February 9, 2024.

2 American Cancer Society. What Is Stomach Cancer? https://www.cancer.org/cancer/types/stomach-cancer/about/what-is-stomach-cancer.html.

3 Morgan E, et al. The Global Landscape of Esophageal Squamous Cell Carcinoma and Esophageal Adenocarcinoma Incidence and Mortality in 2020 and Projections to 2040: New Estimates From GLOBOCAN 2020. Gastroenterology. 2022 Sep;163(3):649-658.e2. doi: 10.1053/j.gastro.2022.05.054. Epub 2022 Jun 4. PMID: 35671803.

4 National Cancer Institute. Cancer stat facts: esophageal cancer. https://seer.cancer.gov/statfacts/html/esoph.html.

 

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Contacts

Investor:

Liza Heapes

+1 857-302-5663

ir@beigene.com

Media:

Kim Bencker

+1 610-256-8932

media@beigene.com

To access BeiGene media resources, please visit our News & Media site.

Kioxia to Unveil Emerging Memory Technologies at IEDM 2024

 TOKYO

Showcasing Innovative Applications for AI, Computing, and Storage Systems

(BUSINESS WIRE) -- Kioxia Corporation, a world leader in memory solutions, today announced that the company’s research papers have been accepted for presentation at IEEE International Electron Devices Meeting (IEDM) 2024, a prestigious international conference to be held in San Francisco, USA, from December 7th to 11th.

Kioxia is committed to the research and development of semiconductor memory, which is indispensable for the advancement of AI and the digital transformation of society. Beyond its state-of-the-art three-dimensional (3D) flash memory technology BiCS FLASH™, Kioxia excels at research in emerging memory solutions. The company is constantly striving to meet the needs for future computing and storage systems with innovative memory products.

Existing computing systems leverage DRAM, a primary memory device enabling CPU to process data swiftly, alongside flash memory for the storage of extensive data. Kioxia is spearheading research and development for Storage Class Memory (SCM), a memory solution positioned between DRAM and flash memory in the semiconductor memory hierarchy, designed to handle larger data volumes than DRAM and at higher speed than flash memory.

At IEDM, Kioxia will unveil cutting edge technologies tailored to each of these three semiconductor memory layers: (1) a new type of DRAM utilizing oxide semiconductors with a focus on reducing power consumption, (2) MRAM suitable for larger capacities for SCM application, and (3) a novel structure of 3D flash memory with superior bit density and performance.

Emerging Memory Technologies:

1. Oxide-Semiconductor Channel Transistor DRAM (OCTRAM): This technology was jointly developed by Nanya Technology and Kioxia Corporation. The companies developed a vertical transistor that enhances circuit integration by improving the manufacturing process. The companies achieved extremely low current leakage by bringing out the properties of the transistor using an oxide-semiconductor. This can potentially lower power consumption in a wide range of applications, including AI and post-5G communication systems, and IoT products.

Paper Title: Oxide-semiconductor Channel Transistor DRAM (OCTRAM) with 4F2 Architecture (Paper Number: 6-1)

2. High-Capacity Crosspoint MRAM Technology: This technology was jointly developed by SK hynix Inc. and Kioxia Corporation. With this technology, the companies achieved cell read/write operation at the smallest-ever scale of cell half-pitch of 20.5 nanometers for MRAM by combining cell technology that pairs selectors suitable for large capacities with magnetic tunnel junctions, and applied fine processing technology for crosspoint-type arrays. Memory reliability tends to degrade as cells are miniaturized. The companies developed a potential solution by utilizing a new readout method that leverages the transient response of selectors and by reducing the parasitic capacitance of readout circuits. This technology has practical applications for AI and big data processing.

Paper Title: Reliable memory operation with low read disturb rate in the world smallest 1Selector-1MTJ cell for 64 Gb cross-point MRAM (Paper Number: 20-1)

3. Next-Generation 3D Memory Technology with Horizontal Cell Stacking Structure: Kioxia developed a new 3D structure to improve reliability and prevent degradation of NAND-type cell performance. Degradation of performance typically occurs when the number of stacked layers increases in conventional structures. The new structure arranges NAND-type cells horizontally by stacking them compared to the conventional structure of vertically arranging NAND-type cells. This structure allows for the realization of 3D flash memory with high bit density and reliability at low cost.

Paper Title: Superior Scalability of Advanced Horizontal Channel Flash For Future Generations of 3D Flash Memory (Paper Number: 30-1)

For more details on IEDM, please visit: https://www.ieee-iedm.org/

Under its mission of “uplifting the world with ‘memory’”, Kioxia aims to pioneer a new era with memory technology and will continue to promote research and technological development to support the future of digital society.

###

This announcement has been prepared to provide information on our business and does not constitute or form part of an offer or invitation to sell or a solicitation of an offer to buy or subscribe for or otherwise acquire any securities in any jurisdiction or an inducement to engage in investment activity nor shall it form the basis of or be relied on in connection with any contract thereof.

Information in this document, including product prices and specifications, content of services and contact information, is correct on the date of the announcement but is subject to change without prior notice.

About Kioxia

Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with memory by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers.

 

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Contacts

Kota Yamaji

Public Relations

Kioxia Corporation

+81-3-6478-2319

kioxia-hd-pr@kioxia.com

 

ASDS 2024: New Phase III READY-4 Data Demonstrate Long-Term Safety and Efficacy of Galderma’s RelabotulinumtoxinA (Relfydess™)

ZUG, Switzerland - Monday, 21. October 2024

• First results from the phase III READY-4 trial demonstrate the long-term safety of repeated injections of RelabotulinumtoxinA for both frown lines and crow’s feet, with efficacy and patient satisfaction maintained across multiple treatments1
• These results were presented alongside additional data from the phase III READY clinical trial program showing RelabotulinumtoxinA’s long duration of effect for six months for frown lines and crow’s feet2,3
• Data presented add to the body of evidence demonstrating the safety and efficacy of RelabotulinumtoxinA, including its onset of action as early as day one4,5
• Developed and manufactured by Galderma, RelabotulinumtoxinA is the first and only ready-to-use liquid neuromodulator developed using PEARL™ Technology that is optimized for simple volumetric dosing to increase ease-of-use6-8
• Further update on neuromodulators: the International Chamber of Commerce (ICC) reaffirmed the scope of Galderma’s exclusive distribution rights with respect to Azzalure® and Dysport® and Galderma’s rights to commercialize these products in additional countries in Eastern Europe and Central Asia, following the completion of arbitration proceedings in October 2024

 
(BUSINESS WIRE)--Galderma today announced new phase III data from the READY-4 clinical trial, demonstrating the long-term safety of RelabotulinumtoxinA (Relfydess™) for frown lines and crow’s feet after repeated injections.1 The READY-4 study met its primary and secondary endpoints, with less than one in five participants experiencing treatment-related treatment-emergent adverse events (TEAEs), and all events deemed mild or moderate.1 Efficacy and patient satisfaction were also maintained across multiple treatments.1 The data were presented at the American Society for Dermatologic Surgery (ASDS) 2024 Annual Meeting, held in Florida from October 17-20.

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 molecule.6-8 Previously announced data from the READY clinical trial program have demonstrated that up to 39% of patients see effects from day one and up to 75% of patients maintain improvements for six months for frown lines and crow’s feet when treated with RelabotulinumtoxinA.4,5,9

 

“As RelabotulinumtoxinA is the first neuromodulator to be developed and manufactured by Galderma, we’re proud to be able to share more data from our READY clinical program. These READY-4 data demonstrate RelabotulinumtoxinA’s consistent safety and efficacy profile with repeated injections over a year, supporting its potential to be a safe, effective, and durable treatment for both frown lines and crow's feet.”

 

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

GLOBAL HEAD OF R&D

GALDERMA

 

READY-4 is a phase III, multicenter, open-label study, designed to evaluate the safety of RelabotulinumtoxinA for the long-term treatment of moderate-to-severe frown lines and crow’s feet in more than 900 participants. Injections were administered at a minimum of 12 weeks apart, in up to four cycles over 12 months.1,10

Results demonstrate the long-term safety of repeated RelabotulinumtoxinA injections, consistent with the safety profile observed in the phase III READY-1, -2 and -3 clinical trials.1,4,9,11 TEAEs were all mild to moderate, reported by 18% of participants and with similar occurrence across cycles one to four (11%, 7%, 7%, and 10% in cycle one, two, three, and four, respectively).1

Efficacy was also maintained, with most participants achieving none-or-mild wrinkle severity at one month, which was maintained across multiple treatments throughout 12 months. Participants also reported high treatment satisfaction at one month (≥84%).1

 

“These data add to the already extensive evidence base showcasing the potential benefits of RelabotulinumtoxinA. Having demonstrated long-term safety, as well as ease of use, sustained results, and an onset of action as early as day one, RelabotulinumtoxinA has the potential to influence the neuromodulator space by addressing and going beyond current treatment limitations, for both physicians and our patients.”

 

DR. KENNETH BEER, M.D.

READY-4 CLINICAL TRIAL INVESTIGATOR

Board Certified Dermatologist

Founder of Beer Dermatology & The Cosmetic Bootcamp

 

Additional data on RelabotulinumtoxinA were presented at ASDS, including:

    Data from the phase III READY-3 study, previously presented at the TOXINS 2024 conference, demonstrated that RelabotulinumtoxinA significantly improves both frown lines and crow’s feet, when treated alone or simultaneously, with long duration of effect for six months, a favorable safety profile, and high patient satisfaction2,11
    Pooled data from a post-hoc analysis of the READY-1, -2 and -3 studies showed that there were similarly high rates of improvement for both frown lines and crow’s feet following treatment with RelabotulinumtoxinA in people with different skin types, ethnicity, and race, affirming its efficacy and safety across diverse populations3

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

As previously communicated, Galderma completed its European decentralized procedure for RelabotulinumtoxinA in July 2024, resulting in a positive decision, and national approvals are now under finalization. RelabotulinumtoxinA also received a marketing authorization in Australia earlier this year. Regulatory applications for RelabotulinumtoxinA for the treatment of frown lines and crow’s feet will continue to be submitted and assessed by additional authorities globally. The development of RelabotulinumtoxinA is a key outcome of our exciting and compelling innovation pipeline and Galderma is working to launch it in the markets in which it is approved in the first half of 2025.

Update on International Chamber of Commerce (ICC) arbitration

The arbitration proceeding initiated by Galderma against Ipsen at the ICC related to the territorial scope of the Azzalure® and Dysport® (abobotulinumtoxinA) commercial partnership under the 2007 European development and distribution agreement has now been completed. The Tribunal of the ICC issued a final award in October 2024, reaffirming the scope of Galderma’s exclusive distribution rights with respect to Azzalure® and Dysport®. The award confirmed Galderma’s rights to commercialize Azzalure® and Dysport® in certain additional countries, including in Eastern Europe and Central Asia, that had been in dispute between the parties but dismissed Galderma’s claim for monetary compensation related to the timing of the transfer of such rights. Galderma and Ipsen continue to work in close partnership to grow Azzalure® and Dysport® sales in the territories of their commercial alliance.

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 integrity.6,7 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 six months.4-7,9 RelabotulinumtoxinA is optimized for simple volumetric dosing, without reconstitution, to increase ease-of-use and help ensure consistent dose/volume every time.6,7 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 the READY-4 clinical trial (NCT04225260)1,10

READY-4 is a phase III, multicenter, open-label study, designed to evaluate the safety of RelabotulinumtoxinA for the long-term treatment of moderate-to-severe frown lines and crow’s feet in more than 900 participants.1,10

READY-4 is part of Galderma’s phase III READY (RElabotulinumtoxin Aesthetic Development StudY) clinical trial program, composed of four phase III clinical trials which enrolled more than 1,900 participants, and investigated the safety, efficacy, rapidity of onset, and/or durability of RelabotulinumtoxinA for six months on:1,4,5,10,12

    Frown lines (READY-1)4
    Crow’s feet (READY-2)5
    Frown lines and crow’s feet when treated alone or simultaneously (READY-3)12

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:

    Beer K, et al. READY-4: Long-term safety with repeated injections using RelabotulinumtoxinA, a novel liquid formulation botulinum toxin, in the treatment of glabellar and lateral canthal lines. E-poster presented at: ASDS 2024; October 17-20, 2024; Orlando, FL
    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
    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
    Shridharani SM, et al. Efficacy and Safety of RelabotulinumtoxinA, a New Ready-to-Use Liquid Formulation Botulinum Toxin: Results From the READY-1 Double-Blind, Randomized, Placebo-Controlled Phase 3 Trial in Glabellar Lines. ASJ. 2024; sjae131
    Galderma. Data on file. Clinical Study Report for Protocol 43QM1901: READY-2. Galderma Laboratories; 2021
    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
    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
    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
    Ablon G, et al. Treatment of Lateral Canthal Lines with RelabotulinumtoxinA, an Investigational Liquid Botulinum Toxin: Clinical Efficacy and Safety Results from the READY-2 Phase III Trial. Abstract presented at TOXINS 2024; Jan 17-20, 2024, Berlin
    Galderma. Data on file. Clinical Study Report for Protocol 43QM1903: READY-4. Galderma Laboratories; 2021
    Bertucci V, et al. Efficacy and Safety of a Novel Formulation Liquid Botulinum Toxin, RelabotulinumtoxinA, when used for Combination Treatment of Glabellar and Lateral Canthal Lines. Abstract presented at TOXINS 2024; Jan 17-20, 2024, Berlin
    Galderma. Data on file. Clinical Study Report for Protocol 43QM1902: READY-3. Galderma Laboratories; 2021

 

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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

Hindustan Zinc Q2 Profit* Jumps 38% Y-O-Y to US$ 285 Million on Account of Ever-Highest Metal Volume and Consistent Cost Reduction

 UDAIPUR, India - Monday, 21. October 2024 AETOSWire Print 

(BUSINESS WIRE)--India-based Hindustan Zinc Limited (“HZL”) (NSE: HINDZINC), the world’s second largest integrated zinc producer and third largest silver producer, reported its results for the second quarter and half year ended September 30, 2024, on 18th October 2024. The company recorded the highest-ever second quarter refined metal production at 262 kt, up 8% y-o-y. It also clocked the lowest Q2 cost of production in the past 4 years at $1,071/MT. The company reported its highest ever EBITDA & profit (before exceptional items) in the last six quarters at US$ 497 million and US$ 285 million, up over 33% and 38% y-o-y respectively. The company also registered an 8-quarter highest EBITDA margin of over 50% in Q2, with a 450-bps y-o-y improvement. Hindustan Zinc’s precious metal segment, driven by silver, contributed over 40% in the overall profitability. The company’s market share in India’s primary zinc market jumped from 71% to 78% y-o-y. To progress on the company’s net zero goals, Hindustan Zinc’s board approved the third power delivery agreement with Serentica Renewables, taking the renewable energy capacity to 530 MW, for increasing round-the-clock renewable power consumption from c.50% to c.70%.

*Profit after exceptional items was US$ 278 million

Note: USD-INR exchange rate of 83.76 is considered across the release

Arun Misra, Chief Executive Officer, said: “Hindustan Zinc has continued to gather momentum from its previous quarter to record historic highs in its second quarter mined and refined metal production. Leveraging strong precious metal prices, we have focused on maximizing our silver production, resulting in a 10% sequential increment in silver volumes.”

About Hindustan Zinc Limited

Hindustan Zinc Limited, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries across the globe. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category by the S&P Global CSA 2023.

Disclaimer

This press release includes forward-looking statements about our future business and financial performance, using terms like “expects” and “anticipates.” Such statements are inherently uncertain and may differ from actual results. We do not commit to updating these forward-looking statements.

 

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Sonal Choithani (Chief Communications Officer)

Sonal.Choithani@vedanta.co.in

Northern Data Group Accelerates Focus on AI Solutions Business and Explores Potential Transaction of Mining Business

 

FRANKFURT AM MAIN, Germany - Monday, 21. October 2024 AETOSWire

Clear strategy to focus on the acceleration of the AI Solutions business
Q3 earnings revealed strong sequential growth in AI solutions business
Reinvestment of potential proceeds would drive significant growth
 

(BUSINESS WIRE) -- Northern Data AG (ETR: NB2) (“Northern Data Group”, “Northern Data” or “the Group”), a leading provider of AI and High-Performance Computing (HPC) solutions, today announces that it is exploring the divestment of its heritage crypto mining business, Peak Mining.

The potential divestment of Peak Mining will solidify Northern Data as a pure-play AI Solutions business, which includes Europe’s largest Generative AI Cloud platform, and a portfolio of innovative, purpose-built Data Centers.

Following Q3 2024 financial results, which demonstrated the third consecutive quarter of strong sequential growth in its AI Solutions business – Northern Data aims to accelerate opportunities to innovate and provide customers with the tools that they need, alongside the highest quality and most sustainable infrastructure which will power the next chapter of AI innovation.

Possible proceeds from the potential divestment of Peak Mining are to be invested into the development and growth of its AI product platform – specifically its Dynamic Enablement Services, which will include new software capabilities and a range of managed services. Investments would also be made in Data Center acquisition and development, and in the purchase of additional AI GPUs.

Aroosh Thillainathan, Founder and Group CEO, Northern Data Group, commented:
“Mining is a foundational part of Northern Data’s heritage and growth story. We remain supporters of blockchain technology and continue to believe in its potential. This commitment means identifying the right steward for this valuable business is of absolute importance, as we solidify our focus on powering AI innovation through best-in-class infrastructure and carbon-neutral energy systems.”

Rosanne Kincaid-Smith, Group COO, Northern Data Group, commented:
“As AI reshapes industries, Northern Data is focused on leading the charge at the forefront of the AI revolution. Our goal is to provide a seamless AI ecosystem where customers can access intelligent, sustainable solutions that enable their businesses to harness AI's full potential; and provide the tools they need to make the breakthroughs that have the potential to change the course of history. As a business we are excited about the progress in the AI landscape, its impact across industries and our role in driving that progress.”

About Northern Data Group:

Northern Data Group is a leading provider of AI and High-Performance Computing (HPC) solutions, leveraging high-density, liquid-cooled, GPU-based technology to empower the world’s most innovative organizations. Together with our partners, we are passionate about the potential of HPC to drive not only technological advancements but also societal progress.

Language:    English
Company:    Northern Data AG
     An der Welle 3
     60322 Frankfurt/Main
     Germany
Phone:    +49 69 34 87 52 25
E-mail:    info@northerndata.de
Internet:    www.northerndata.de
ISIN:    DE000A0SMU87
WKN:    A0SMU8
Listed:    Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange
 

 

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Contacts
Investor Relations:
Jose Cano
Vice President, Investor Relations
E-Mail: ir@northerndata.de

Media enquiries:
Hawthorn Advisors
E-Mail: northerndata@hawthornadvisors.com

The Ninth Edition of the Cairo International WoodShow is set to Launch in November

 

The highly anticipated ninth edition of the Cairo International Wood and Wood Machinery Show is set to take place from November 28 to 30 at the Cairo International Convention and Exhibition Centre in Nasr City. This prestigious WoodShow will bring together leading manufacturers, suppliers, and buyers from around the globe to showcase the latest wooden products, innovations, and technologies.

Organised by Strategic Exhibitions and Conferences as part of the "International Wood and Wood Machinery Exhibition" series, the Cairo International WoodShow stands as the leading Exhibition Platform for Wood, Furniture & Woodworking Machinery Industry in MENA Region. Over the course of three days, this exhibition is expected to attract more than 11,000 visitors and over 184 exhibitors from 75 different countries worldwide.

Don’t miss out—register now at https://www.woodshowglobal.com/cairo and join us for an inspiring experience.

Hossam Kobaisi, the Director General of Strategic Conferences and Exhibitions (Egypt), highlighted the event’s significance as the leading specialised trade platform for the wood sector in Middle East and North African region.

Kobaisi stated: "The exhibition attracts extensive participation from prominent companies in the wood and wood machinery industries across various countries. It features a wide array of products and services, including woodworking machines, finishing tools, diverse wooden products, and cutting-edge technological solutions in automation and robotics that enhance product efficiency and quality. We eagerly anticipate welcoming exhibitors and visitors from around the world to contribute to the development of the wood industry in Egypt and the broader region."

In parallel with the ninth edition of the Cairo International WoodShow, the second edition of the Interntional Glass Show (IGS) will also be held, showcasing the latest developments and trends in the glass sector. In Addition to the WoodShow and IGS, the Cairo International Furniture Accessories & Components & Semi-Finished Products Show (CIFAC) will also take place, highlighting furniture technologies, accessories, and innovative brands in the field.

It is worth noting that the Strategic Exhibitions and Conferences is also organising the 21st edition of Dubai International Wood and Wood Machinery Exhibition at the Dubai World Trade Centre, UAE, from April 14 to 16, 2025. Additionally, the second edition of the Saudi International Wood and Wood Machinery Exhibition will also be held in Riyadh, Saudi Arabia, from September 7 to 9, 2025.

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Shereen al Musalami

Email: shereen.almusallami@strategic.ae

Visa’s Growth Corporates Working Capital Index Reveals 300% Increase in Working Capital Efficiency

 SAN FRANCISCO - Monday, 21. October 2024

Top performing growth corporates surveyed saved an average of $11 million, with virtual card usage jumping 32%

(BUSINESS WIRE) -- Visa (NYSE:V), a global leader in digital payments, announced the findings from its second annual global Growth Corporates Working Capital Index. The findings revealed an astounding increase in working capital usage and efficiency, with an 81% adoption rate of at least one working capital solution in 2024. Beyond increased adoption, top-performing companies1 saved an average of $11 million in interest and fees – a YoY efficiency increase of 300%.

The Index surveyed nearly 1,300 CFOs and Treasurers across 8 industry segments and 23 countries, all representing “Growth Corporates,” organizations that generate between $50 million and $1 billion in annual revenue.

Beyond the increased adoption of working capital solutions, virtual cards saw a particularly high uptick. These solutions offer flexible, on-demand working capital solutions that provide access to funds as corporate needs require. Virtual cards saw a 32% YoY increase in usage and were intrinsically linked to top-performing Index scores. Surveyed Growth Corporates who used virtual card solutions saw higher probability of reduced Days Payable Outstanding (DPO), strategic utilization of working capital, better cash flow predictability, more supplier integration into payment systems and early supplier payment.

The Index notably highlights that CFOs and Treasurers of Growth Corporate businesses want relationship-based banking and personalized working capital solutions tailored to their specific industry, spending habits and business needs. Five out of eight industries represented by survey respondents cited lengthy approval processes and uncertainty about approval outcomes as their most significant obstacles, as respondents expressed the need for bankers with both the lending experience and working knowledge of their industry and region to design working capital solutions that fit their business requirements. And the stakes are high: 90% of respondents reported negative consequences when working capital access was denied or took too long.

“Growth Corporates have unique needs and capabilities that often fall through the cracks between small businesses and enterprises,” said Lauren Hewings, Visa’s Head of Working Capital Solutioning. “This valuable segment, which really represents tomorrow’s enterprises, has historically lacked access to customized, industry-tailored products and solutions from their financial institutions; however, increasingly, they are demanding them from their financial institutions as they seek flexible, on-demand methods for optimizing cash flow to drive strategic growth.”

Additional key findings include:

More than half (58%) of top performers surveyed improved their working capital ratios, as evidenced by 51% shorter cash conversion cycles and 28% shorter days payable outstanding.

Strategic use cases drove 62% of working capital use. CFOs and Treasurers were 35% more likely to use solutions to invest in company assets and 37% more likely to have invested in organic growth and expansion, than last year.

Developing markets and specific industries experienced remarkable gains: North America’s agriculture sector saw a 17% Index surge, healthcare in Europe and Asia-Pacific (APAC) led with 16% gains, and retail in Central Europe, Middle East and Africa (CEMEA) witnessed a dramatic 26% increase in Index scores.

Top performers surveyed achieved a 21% increase in their net profit margins and a 14% increase in their working capital ratios.

Top-performing CFOs and Treasurers are three times more likely to use virtual cards next year than bottom performers. Virtual cards provide access as needed to pay suppliers early, which is often associated with more favorable pricing from key suppliers.

For more information about the Growth Corporates Working Capital Index, please visit: https://global-corporate.review.visa.com/solutions/commercial-solutions/knowledge-hub/working-capital-index-report.html.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

______________________________

1 Top performers are characterized by superior predictability in financing needs, which enables them to use financing more strategically than less efficient counterparts. Growth Corporates at the top of the Index are more likely to be in a stable financial position, either with the help of external working capital or without and are therefore the least likely to have needed financing for emergencies.

 

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David Thum

dthum@visa.com

 

ACI Worldwide Study Reveals Real-Time Payments To Boost Global GDP By $285.8 Billion, Create 167 Million New Bank Account Holders By 2028

 

Real-time payments drive economic growth and bring millions into the financial ecosystem, according to ACI Worldwide’s Real-Time Payments: Economic Impact and Financial Inclusion report

(BUSINESS WIRE) -- Real-time payments are forecast to generate $285.8 billion of additional global GDP growth and create more than 167 million new bank account holders by 2028, according to a new report published by ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, in collaboration with The Centre for Economics and Business Research (Cebr).

ACI Worldwide’s second Real-Time Payments: Economic Impact and Financial Inclusion report leverages data from 40 countries and reveals—for the first time—an empirical link between real-time payments and financial inclusion.

The research indicates that by providing citizens with access to affordable financial services, real-time payments drive economic growth and could potentially help lift millions of people out of poverty. Additionally, the associated financial inclusion uplift experienced by many countries as a result of increasing real-time transactions presents significant new revenue opportunities for financial institutions.

“Real-time payments act as a powerful catalyst for economic growth and societal transformation in modern, digital economies. They improve the efficiency of financial systems and ​enable greater financial inclusion,” said Thomas Warsop, president and CEO, ACI Worldwide. “This research demonstrates how payments modernization presents a win-win proposition for everyone, including governments and banks.”

Key findings

Economic impact of real-time payments

Real-time payments improve overall market efficiencies in the economy by allowing for the transfer of money between consumers and businesses within seconds, rather than days. They reduce transaction costs and formalize segments of the cash-based “shadow economy,” thereby increasing revenue opportunities.

• Across all 40 countries in the study, real-time payments boosted GDP by a total of $164.0 billion in 2023 – equivalent to the labor output of 12 million workers.
• Forecast for 2028: GDP contributions from real-time payments will total $285.8 billion – a 74.2% increase over five years, equivalent to the labor of 16.9 million workers.
• Aggregated net savings for consumers and businesses: $116.9 billion in 2023 – predicted to grow to $245.8 billion by 2028.

Financial inclusion

The research shows a “positive empirical link between instant payments and financial inclusion.” Real-time payments are boosting financial inclusion, especially among three demographic groups: younger people (aged 18-24 years); women; and people in lower income groups (40% of the population with the lowest incomes).

• By 2028, 167.2 million previously excluded from the financial system across the 28 countries studied for financial inclusion could have bank accounts.
• Top five countries for financial inclusion uplift (number of newly banked citizens): Pakistan – 63.5 million; India – 25.5 million; Philippines – 20.9 million; Nigeria – 13.8 million; China – 13.8 million.

Profit opportunities for financial institutions

The phenomenal growth of real-time payments and the resulting rise in financial inclusion present a significant profit opportunity for banks.

• The top five markets for profit opportunity: Pakistan – $173.0 billion; Nigeria – $40.4 billion; Philippines – $28.7 billion; India – $24.6 billion; China – $21.2 billion.

Regional highlights

• Asia Pacific: Asia Pacific is home to some of the world’s largest real-time payments markets, including India, China and Thailand. Real-time payments boosted India’s GDP by $50 million in 2023, making it the world’s largest market in terms of GDP growth. In Indonesia, one of the world’s top 10 fastest-growing markets, real-time payments are forecast to contribute $3.6 billion of additional GDP to the economy by 2028, 0.21% of total GDP. The region also boasts the top three countries for financial inclusion uplift: Pakistan, India and the Philippines.
• Africa: As Africa’s largest real-time payments market, Nigeria is reaping the biggest economic benefits. Real-time payments added $7.0 billion to the country’s GDP in 2023, equivalent to 1.4% of combined GDP. Nigeria is also the top market for bank profit opportunities in the region, followed by South Africa, with projected profit opportunities for banks of $40.4 billion and $899.1 million, respectively.
• Europe: Europe’s shift to instant payments, mandated by the EU’s Instant Payments Regulation, is expected to unlock economic growth and improve financial inclusion across the 27 EU member states. The EU aims to replicate the success of other countries in the region, such as Turkey, which is expected to generate $5.1 billion of additional GDP by 2028 due to real-time payments, followed by the UK, with an expected additional GDP growth of $4.0 billion by 2028.
• Middle East: The economic and financial inclusion benefits of real-time payments in the Middle East—the world’s fastest-growing real-time payments market—are most felt in Saudi Arabia, Bahrain and the UAE. Saudi Arabia’s GDP is expected to get a boost of $1.1 billion by 2028, while Bahrain is forecast to have additional GDP growth of $677.6 million by 2028.
• Latin America: In Brazil, the largest economy in the region, real-time payments contributed $24.6 billion to the overall economy – equivalent to the labor of more than 1.3 million workers. Mexico is in the top five countries worldwide for economic benefits of real-time payments, with a GDP boost of $10.3 billion in 2023. Colombia is expected to experience the biggest financial inclusion uplift in the region, with 5.1 million new account holders projected by 2028.
• North America: The impact from real-time payments is already clear in the U.S., where businesses and consumers reaped more than $1.0 billion in savings in 2023 – expected to quadruple to $4.4 billion by 2028. The U.S. is among the top 10 countries with the largest projected financial inclusion uplift from real-time payments: 4.9 million citizens previously excluded from the financial system could have bank accounts by 2028.

“The research for the first time identifies a positive empirical link between instant payments and financial inclusion. As economies increase adoption of instant payments, reduction in transaction costs, enhancements to user experience and wider behavioural factors are directed linked to increasing the share of the population engaging with financial institutions,” commented Owen Good, Head of Economic Advisory, Cebr. “Specifically, we find that real-time payments adoption is expected to create significant benefits for individuals, the financial sector itself and the wider economy. Put simply, we continue to see that moving money in seconds rather than days rewards everyone associated with the transaction.”

About ACI Worldwide

ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.

About Cebr

For over 30 years the Centre for Economics and Business Research (Cebr) has supplied independent economic forecasting and analysis to hundreds of private firms and public organisations. Our Economic Advisory team is one of the UK’s strongest and has advised government departments, as well as FTSE and multinational firms on a range of topics. Cebr’s Forecasting and Thought Leadership team delivers award-winning forecasts of the UK and global economies, helping our clients stay ahead of the game in anticipating future economic developments. For further information about Cebr please visit www.cebr.com.

© Copyright ACI Worldwide, Inc. 2024

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay, and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries, or both. Other parties’ trademarks referenced are the property of their respective owners.

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Media

Nick Karoglou | Head of Communications and Corporate Affairs | nick.karoglou@aciworldwide.com

Katrin Boettger I Communications and Corporate Affairs Director, Americas/Europe I katrin.boettger@aciworldwide.com

SLB Announces Third-Quarter 2024 Results

 

• Revenue of $9.16 billion was steady sequentially and increased 10% year on year
• GAAP EPS of $0.83 increased 8% sequentially and 6% year on year
• EPS, excluding charges and credits, of $0.89 increased 5% sequentially and 14% year on year
• Net income attributable to SLB of $1.19 billion increased 7% sequentially and 6% year on year
• Adjusted EBITDA of $2.34 billion increased 2% sequentially and 13% year on year
• Cash flow from operations was $2.45 billion and free cash flow was $1.81 billion
• Board approved quarterly cash dividend of $0.275 per share

 

(BUSINESS WIRE) -- SLB (NYSE: SLB) today announced results for the third quarter of 2024.

Third-Quarter Results

	(Stated in millions, except per share amounts)
	Three Months Ended						Change
	Sept. 30, 2024		Jun. 30, 2024		Sept. 30, 2023		Sequential		Year-on-year
Revenue	$9,159		$9,139		$8,310		-		10%
Income before taxes - GAAP basis	$1,507		$1,421		$1,395		6%		8%
Income before taxes margin - GAAP basis	16.5%		15.5%		16.8%		91 bps		-33 bps
Net income attributable to SLB - GAAP basis	$1,186		$1,112		$1,123		7%		6%
Diluted EPS - GAAP basis	$0.83		$0.77		$0.78		8%		6%
Adjusted EBITDA*	$2,343		$2,288		$2,081		2%		13%
Adjusted EBITDA margin*	25.6%		25.0%		25.0%		55 bps		54 bps
Pretax segment operating income*	$1,902		$1,854		$1,683		3%		13%
Pretax segment operating margin*	20.8%		20.3%		20.3%		48 bps		51 bps
Net income attributable to SLB, excluding charges & credits*	$1,271		$1,224		$1,123		4%		13%
Diluted EPS, excluding charges & credits*	$0.89		$0.85		$0.78		5%		14%
Revenue by Geography
International	$7,425		$7,452		$6,614		-		12%
North America	1,687		1,644		1,643		3%		3%
Other	47		43		53		n/m		n/m
	$9,159		$9,139		$8,310		-		10%

	(Stated in millions)
	Three Months Ended						Change
	Sept. 30, 2024		Jun. 30, 2024		Sept. 30, 2023		Sequential		Year-on-year
Revenue by Division
Digital & Integration	$1,088		$1,050		$982		4%		11%
Reservoir Performance	1,823		1,819		1,680		-		9%
Well Construction	3,312		3,411		3,430		-3%		-3%
Production Systems	3,103		3,025		2,367		3%		31%
Other	(167)		(166)		(149)		n/m		n/m
	$9,159		$9,139		$8,310		-		10%
Pretax Operating Income by Division
Digital & Integration	$386		$325		$314		19%		23%
Reservoir Performance	367		376		344		-2%		7%
Well Construction	714		742		759		-4%		-6%
Production Systems	519		473		319		10%		63%
Other	(84)		(62)		(53)		n/m		n/m
	$1,902		$1,854		$1,683		3%		13%
Pretax Operating Margin by Division
Digital & Integration	35.5%		31.0%		32.0%		456 bps		353 bps
Reservoir Performance	20.1%		20.6%		20.5%		-53 bps		-37 bps
Well Construction	21.5%		21.7%		22.1%		-19 bps		-58 bps
Production Systems	16.7%		15.6%		13.5%		110 bps		325 bps
Other	n/m		n/m		n/m		n/m		n/m
	20.8%		20.3%		20.3%		48 bps		51 bps
SLB acquired the Aker subsea business during the fourth quarter of 2023 in connection with the formation of the OneSubsea joint venture. The acquired business generated revenue of $532 million during the third quarter of 2024. Excluding the impact of this acquisition, SLB's global third-quarter 2024 revenue increased 4% year on year; international third-quarter 2024 revenue increased 4% year on year; and Production Systems third-quarter 2024 revenue increased 9% year on year.
*These are non-GAAP financial measures. See sections titled "Divisions" and Supplementary Information" for details.
n/m = not meaningful

SLB Expands Margins and Earnings, Despite Cautious Macro Environment

“SLB delivered strong third-quarter results, achieving earnings growth and margin expansion in line with our full-year adjusted EBITDA margin goal of 25% or higher,” said SLB Chief Executive Officer Olivier Le Peuch. “These results were achieved by our ongoing focus on cost optimization, greater adoption of our digital products and solutions, and the contribution of long-cycle projects in deep water and gas.

“This performance was achieved despite an environment where short-cycle activity growth softened, and some international producers exercised cautious spending triggered by lower oil prices and ample global supply, while land activity in the U.S. remained subdued. Revenue grew in the Middle East & Asia and offshore North America but was offset by a decline in Latin America, while Europe & Africa held steady,” Le Peuch said.

Digital Leads Results as Customers Focus on Cloud Computing and Automation

“As we continue to see the transformative impact of digital technology across the industry, we delivered a 4% sequential increase in Digital & Integration revenue. This was driven by our digital business, which grew 7% sequentially and 25% year on year. Digital & Integration pretax segment operating margin expanded by 456 basis points (bps) sequentially, mostly driven by our digital business.

“Our customers are increasingly embracing digital technology to shorten planning cycle times, boost automation, and extract efficiency. Our cloud-based platform offerings have emerged as integral tools for unlocking data and AI across the energy value chain, enabling data-driven decision-making and streamlined operations. Our leadership in this area was on full display as we welcomed more than 1,000 customers and partners to the SLB Digital Forum in September to share progress, innovate together, and explore new digital opportunities.

“At the event, we announced exciting new collaborations and partnerships with NVIDIA, Amazon Web Services, Aramco, and others. Additionally, we launched the Lumi™ data and AI platform, which integrates advanced AI capabilities—including generative AI—with workflows across the energy value chain. More details can be found in the quarterly highlights of this release.

“In the Core Divisions—comprising Reservoir Performance, Well Construction, and Production Systems—revenue was essentially flat sequentially. Production Systems revenue increased 3% sequentially, posting record quarterly revenue with pretax segment operating margin expanding year on year for the ninth consecutive quarter. Reservoir Performance revenue was flat sequentially, while Well Construction revenue declined by 3% due to lower drilling activities,” Le Peuch said.

With Strong Cash Flow, SLB Accelerates Returns to Shareholders

“Overall, in the third quarter, we achieved an adjusted EBITDA margin of 25.6%, a 55-bps sequential increase. Cash flow from operations was $2.45 billion, and free cash flow was $1.81 billion. Additionally, we returned close to $900 million to shareholders through stock repurchases and dividends, bringing total return to shareholders for the first nine months of the year to $2.38 billion.

“With strong cash flows and visibility into continued strong cash flow generation, we have accelerated our share repurchase program, taking advantage of current share price levels. We now expect to exceed the $3.0 billion return to shareholders commitment we made earlier this year.

“I would like to thank the SLB team for their unwavering dedication and outstanding execution, consistently delivering for both our customers and shareholders,” Le Peuch said.

International, Digital, and Cost Optimization to Remain the Focus

“Although some customers have adopted a more cautious approach to their near-term capital expenditures and discretionary spending amid lower commodity prices, most projects are progressing as planned. Recent geopolitical events have further highlighted the importance of long-term energy security and reducing potential supply disruptions.

“SLB is well positioned to navigate the evolving market conditions by leveraging its unique exposure to long-cycle projects in international, deepwater, and gas markets. Additionally, SLB’s digital leadership and growing presence in emerging low-carbon markets—such as carbon capture and storage and geothermal—are supporting a more balanced portfolio.

“Although the rate of upstream spending growth has moderated in the last few months due to the macroenvironment, we continue to expect a sustained level of upstream investment in the years to come. In this context, we anticipate delivering strong cash flows and a full-year adjusted EBITDA margin at or above 25%, supported by our international leadership, robust digital sales, and ongoing cost optimization initiatives.

“Overall, our business remains well positioned to deliver further margin expansion and increased returns to shareholders,” Le Peuch said.

Other Events

During the quarter, SLB repurchased 11.3 million shares of its common stock for a total purchase price of $501 million. For the first nine months of the year, SLB repurchased a total of 26.6 million shares of its common stock for a total purchase price of $1.24 billion.

On October 17, 2024, SLB entered into a definitive agreement to sell its working interests in the Palliser Block located in Alberta, Canada. The transaction, which is subject to regulatory approval and other customary closing conditions, is expected to close late in the fourth quarter of 2024.

On October 17, 2024, SLB’s Board of Directors approved a quarterly cash dividend of $0.275 per share of outstanding common stock, payable on January 9, 2025, to stockholders of record on December 4, 2024.