E Stagflation?

*The media revival boosted our Tencent (TCEHY) 3.3% in Hong Kong yesterday, the 2nd best tech performer after Sohu which rose 3.5%...

*I have long warned that the 30.6% yield shown for Hang Sen Bank of Hong Kong by e-trade has to be wrong. The correct yield is 3.81% which may be result from the chart showing the price in US$s and the dividend in HK$s.

Denmark

*Bavarian Nordic (sold) hit delay for its liquid live frozen smallpox biologics vaccine. The FDA now needs another 3 months to study Imvamune. BVNRY already manufactured 28 mn doses for people with weakened immune systems. This will not affect operations, it says.

Dutch Antilles

*Schlumberger Ltd is again beloved by Goldman Sachs which raised it to the buy list—but not the focus list—with a $55 target price. SLB fell over concerns that Norway would exit from its holdings over a desire to diversify its state pension plans away from oil and gas, which SLB helps companies find.

Japan etcetera

*Eisai Co (ESALY) with partner Imbrium Therapeutics, filed an ANDA FDA application for Orexant to treat insomnia. There will be a deadline of Dec. 27 for the FDA to approve or decline. Its head Scott Gottlieb has resigned over what appears to be a non-drug-industry pushback, over his attempt at stopping sales of vaping products to kids. He also presented a $643 mn FDA funding increase, to $6.1 bn, of which $100 mn will be for tobacco manufacturers and importers, to cut youth tobacco use.

*Novo Nordisk of Denmark is partnering with Taiwanese Health2Sync on a diabetes management app for Japan.

*Israeli Mellanox, sold too soon, is being acquired by Nvidia for $6.9 bn after a bidding war with Intel and Microsoft. Although they are in different areas of tech, the news has boosted another Israeli tech stock we exited, Tower Semiconductor.

South Africa etcetera

*Spun off Multichoice Group (MCHOY) is up another 7.5% yesterday. It sells internet TV and video entertainment in 50 countries, starting with Africa. It was listed by Naspers, NPSNY, which we keep telling you is more than merely the owner of 31% of Tencent, TCEHY, of China.

Switzerland etceters

*Roche and Celgene got FDA approval for immuno-oncology drug Tecentriq against triple-negative breast cancer, the first i-o drug approved for this disease. It cuts the risk of death and recurrence in patients whose tumors express PD-L, a protein, by an “unprecedented” amount, according to the regulator. As there was only one other drug for TNBC, Abraxane, now left behind, unlike the crowded field for other cancers of the ladder and lungs. Celgene is in the process of being taken over, controversially, by Bristol-Myers Squibb, which I own share of.

View single page >> |

Disclosure: None. Subscribe to Global-Investing for more updates.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Carol Klein 1 year ago Member's comment

Good article Vivian, but I think you made an error. I read the article by David Goldman you referenced. But on Seeking Alpha, not Asia Times.

Leslie Miriam 1 year ago Member's comment

Thanks, have the link?

Carol Klein 1 year ago Member's comment

I think it was deleted. Maybe something fishy is going on.