Non-Small Cell Lung Cancer Therapeutics Market Size in 7MM is expected to grow at a decent CAGR by 2034, estimates DelveInsight
Discover which therapies are expected to grab the Non-Small Cell Lung Cancer Market Share @ Non-Small Cell Lung Cancer Market Outlook
Key Takeaways from the Non-Small Cell Lung Cancer Market Report
In April 2025, Merck Sharp & Dohme LLC announced a Phase 2 Umbrella Study With Rolling Arms of Investigational Agents With or Without Chemotherapy in Combination With Pembrolizumab in Treatment of Participants With Newly Diagnosed Resectable Stages II-IIIB (N2) Non-small Cell Lung Cancer (NSCLC).
In April 2025, Allist Pharmaceuticals Inc. conducted a phase 3 study to assess the efficacy and safety of Furmonertinib (AST2818) versus placebo in patients with stage II-IIIA non-small cell lung cancer (NSCLC) with centrally confirmed, most common sensitising EGFR mutations (Ex19Del and L858R) either alone or in combination with other EGFR mutations as confirmed by a central test, who have had complete tumour resection, with or without postoperative adjuvant chemotherapy.
In April 2025, AbbVie organized a study is to assess adverse events and change in disease activity when Telisotuzumab Adizutecan (ABBV-400) is given in combination with a programmed cell death receptor 1 (PD1) inhibitor (budigalimab) to adult participants to treat NSCLC.
About 10–15% of all lung cancers are SCLC, and about 80–85% are Non-Small Cell Lung Cancer.
In the US, in 2024, there were approximately 204,800 new cases of NSCLC cancer (~115,500 in men and ~89,300 in women.
The three main histological subtypes of NSCLC are adenocarcinoma, squamous cell carcinoma, and large cell (undifferentiated) carcinoma. In the US, approximately 59% of all lung cancers are adenocarcinomas. About 25% of all lung cancers are squamous cell carcinoma. Large cell (undifferentiated) carcinoma makes up around 6% of all lung cancers.
Among the age-specific contribution, age =65 years are affected more by NSCLC than age
In 2024, the total incident cases of NTRK1/2/3 gene fusion NSCLC in the US was around 450.
In biomarker specific specific cases, most number of cases is from PD-L1 followed by KRAS, EGFR. On the other hand, NTRK accounted for least number of cases whereas, BRAF accounted for approximately 5% cases.
The two main subtypes of KRAS NSCLC are KRAS G12C, and KRAS non-G12C (G12V, G12D, G13D, G12R, and others). In the United States, ~4,900 comprised of KRAS G12C, and ~13,300 comprised of KRAS non-G12C in 2024.
The increase in Non-Small Cell Lung Cancer Market Size is a direct consequence of the increasing patient population and anticipated launch of emerging therapies in the 7MM.
As per DelveInsight analysis, the Non-Small Cell Lung Cancer Market is anticipated to witness growth at a considerable CAGR.
The leading Non-Small Cell Lung Cancer Companies such as Merck & Co., Inc., Novartis AG, Pfizer Inc., Takeda Pharmaceutical, Bayer AG, F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc., Sanofi, Agennix AG, and others., and others.
Promising Non-Small Cell Lung Cancer Pipeline Therapies such as Amivantamab, Lazertinib, Pemetrexed 500 mg, Cisplatin, Gemcitabine, Furmonertinib 80 mg, ILX651 and others.
Stay ahead in the Non-Small Cell Lung Cancer Therapeutics Market with DelveInsight's Strategic Report @ Non-Small Cell Lung Cancer Market Outlook
Non-Small Cell Lung Cancer Epidemiology Segmentation in the 7MM
The epidemiology section of Non-Small Cell Lung Cancer offers insights into both historical and current patient populations, as well as forecasted trends across seven major countries. This section aids in understanding the factors behind present and projected trends through analysis of various studies and input from key opinion leaders. Additionally, this portion of the market report provides information on the diagnosed patient pool, trends, and underlying assumptions.
Total incident cases of NSCLC
Gender-specific cases of NSCLC
Age-specific cases of NSCLC
Total incident cases of NSCLC by histology
Total cases of NSCLC by stages
Total incident cases of NSCLC by genetic mutation/biomarkers
Line wise Treated Cases of Metastatic NSCLC
Download the report to understand which factors are driving Non-Small Cell Lung Cancer Epidemiology trends @ Non-Small Cell Lung Cancer Prevalence
Non-Small Cell Lung Cancer Marketed Drugs
KEYTRUDA (pembrolizumab): Merck
KEYTRUDA is a PD-1-blocking antibody. It is mainly used for advanced cancers that have spread to other body parts or are not responding to other treatments. In some cancers, it is only given to patients whose tumors produce high protein levels known as PD-L1. KEYTRUDA was first approved in October 2015 by the US FDA as a monotherapy for metastatic NSCLC. Later, the labels were expanded in 2016, 2017, 2018, and in 2023. In October 2023, the FDA approved KEYTRUDA platinum-containing chemotherapy as neoadjuvant treatment, and with continuation of single-agent KEYTRUDA as post-surgical adjuvant treatment for resectable (tumors =4 cm or node positive) NSCLC. The drug has also received approvals in EU4 and the UK (August 2016) and Japan (December 2016), where the labels were expanded as well. Recently in September 2024, Merck announced that the MHLW has approved new indications for KEYTRUDA in combination with chemotherapy as a neoadjuvant treatment. Earlier in March 2024, Merck announced that the EC has approved KEYTRUDA in combination with platinum-containing chemotherapy as neoadjuvant treatment
TECENTRIQ (atezolizumab): Genentech/Roche
TECENTRIQ is a PD-L1-blocking antibody. It is an Fc-engineered, humanized, non-glycosylated IgG1 kappa immunoglobulin with a calculated molecular mass of 145 kDa. According to Roche's recent product development portfolio published in October 2024, the company anticipates submitting a filing for TECENTRIQ in the periadjuvant treatment of NSCLC in 2025.
Non-Small Cell Lung Cancer Emerging Drugs
Telisotuzumab vedotin: AbbVie
Teliso-V is an investigational antibody–drug conjugate targeting c-Met, a receptor tyrosine kinase overexpressed in tumors, including Non-small Cell Lung Cancer. Teliso-V has the potential to become an important new treatment option in non-small cell lung cancer, with an anticipated approval in 2L+ NSCLC in 2024. In January 2022, AbbVie announced that the FDA granted Breakthrough Therapy Designation to investigational telisotuzumab vedotin for the treatment of patients with advanced/metastatic epidermal growth factor receptor wild type, nonsquamous non-small cell lung cancer with high levels of c-Met overexpression whose disease has progressed on or after platinum-based therapy.
Datopotamab deruxtecan (Dato-DXd): AstraZeneca and Daiichi Sankyo
Datopotamab deruxtecan (Dato-DXd) is an investigational TROP2-directed ADC. Designed using Daiichi Sankyo's proprietary DXd ADC technology, datopotamab deruxtecan is one of the most advanced programs in AstraZeneca's ADC scientific platform and one of the three leading ADCs in the oncology pipeline of Daiichi Sankyo. In January 2023, a Phase III clinical trial, combined with immune checkpoint inhibitors for the first-line treatment for Non-Small Cell Lung Cancer without actionable genomic alterations, PD-L1 <50% (trial name: TROPION-Lung07), was initiated. No TROP2-directed therapies are currently approved for treating Non-Small Cell Lung Cancer patients. AstraZeneca and Daiichi Sankyo are interrogating Dato-DXd in 1L non-driver mutation patients with TROPION-Lung08 (trying to knock off the Keynote-024 regimen) and with TROPION-Lung07 (trying to dethrone Keynote-189 regimen, the most important indication for Merck's KEYRTUDA), as well as covering 2L and 3L patients with TROPION-Lung01.
To learn more about Non-Small Cell Lung Cancer treatment guidelines, visit @ Non-Small Cell Lung Cancer Treatment Market Landscape
Non-Small Cell Lung Cancer Market Outlook
As more targetable mutations are discovered, and new targeted drugs are developed, patients and oncologists will have an expanding array of treatment options. Given the rapid pace of drug approvals, it is important to pause and ensure sufficient data supports the use of specific agents in the appropriate treatment settings, including adjuvant, consolidation, first-line, or subsequent therapy.
Non-Small Cell Lung Cancer Drugs Uptake
The existing NSCLC treatment is mainly dominated by targeted therapies for mutations such as EGFR-sensitizing mutations, EGFR exon 20 insertions, ALK fusions, ROS1 fusions, BRAFV600E mutation, MET exon 14 skipping mutations, RET fusions, and KRASG12C mutation. EGFR mutations and ALK rearrangements are well-known genetic abnormalities that drive the development of NSCLC. The use of TKIs as a treatment approach has shown better results in terms of patient outcomes when compared to chemotherapy. EGFR mutations are frequently observed, EGFR exon 19 deletions and EGFR exon 21 L858R mutations. The FDA has approved various TKIs to treat these mutations, with TAGRISSO considered the standard treatment. GILOTRIF is approved for patients with other EGFR sensitivity mutations like S768I, L861Q, and G719X.
Major Non-Small Cell Lung Cancer Companies
Merck & Co., Inc., Novartis AG, Pfizer Inc., Takeda Pharmaceutical, Bayer AG, F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc., Sanofi, Agennix AG, and others., and others.
Scope of the Non-Small Cell Lung Cancer Market Report
• Coverage- 7MM
• Study Period- 2020-2034
• Non-Small Cell Lung Cancer Companies- Merck & Co., Inc., Novartis AG, Pfizer Inc., Takeda Pharmaceutical, Bayer AG, F. Hoffmann-La Roche Ltd., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc., Sanofi, Agennix AG, and others., and others
• Non-Small Cell Lung Cancer Pipeline Therapies- Amivantamab, Lazertinib, Pemetrexed 500 mg, Cisplatin, Gemcitabine, Furmonertinib 80 mg, ILX651 and others.
• Non-Small Cell Lung Cancer Market Dynamics: Non-Small Cell Lung Cancer Market Drivers and Barriers
• Non-Small Cell Lung Cancer Market Access and Reimbursement, Unmet Needs and Future Perspectives
Table of Content
1. Key Insights
2. Non-Small Cell Lung Cancer Executive Summary
3. Non-Small Cell Lung Cancer Competitive Intelligence Analysis
4. Non-Small Cell Lung Cancer: Market Overview at a Glance
5. Non-Small Cell Lung Cancer: Disease Background and Overview
6. Patient Journey
7. Non-Small Cell Lung Cancer Epidemiology and Patient Population
8. Treatment Algorithm, Current Treatment, and Medical Practices
9. Non-Small Cell Lung Cancer Unmet Needs
10. Key Endpoints of Non-Small Cell Lung Cancer Treatment
11. Non-Small Cell Lung Cancer Marketed Products
12. Non-Small Cell Lung Cancer Emerging Therapies
13. Non-Small Cell Lung Cancer: Seven Major Market Analysis
14. Attribute analysis
15. 7MM: Non-Small Cell Lung Cancer Market Outlook
16. Access and Reimbursement Overview of Non-Small Cell Lung Cancer
17. KOL Views
18. Non-Small Cell Lung Cancer Market Drivers
19. Non-Small Cell Lung Cancer Market Barriers
20. Appendix
21. DelveInsight Capabilities
22. Disclaimer
23. About DelveInsight
About Us
DelveInsight is a leading healthcare-focused market research and consulting firm that provides clients with high-quality market intelligence and analysis to support informed business decisions. With a team of experienced industry experts and a deep understanding of the life sciences and healthcare sectors, we offer customized research solutions and insights to clients across the globe. Connect with us to get high-quality, accurate, and real-time intelligence to stay ahead of the growth curve.
Media Contact
Company Name: DelveInsight Business Research LLP
Contact Person: Yash Bhardwaj
Email: Send Email
Phone: 09650213330
Address: 304 S. Jones Blvd #2432
City: Las Vegas
State: NV
Country: United States
Website: https://www.delveinsight.com/
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
3 days ago
- Cision Canada
STARLIGHT WESTERN CANADA MULTI-FAMILY (NO. 2) FUND ANNOUNCES Q2-2025 OPERATING RESULTS INCLUDING YEAR-OVER-YEAR RENT GROWTH OF 3.7% Français English
TORONTO, Aug. 14, 2025 /CNW/ - Starlight Western Canada Multi-Family (No. 2) Fund (the "Fund") announced today its results of operations and financial condition for the three months ended June 30, 2025 ("Q2-2025") and six months ended June 30, 2025 ("YTD-2025"). Certain comparative figures are included for the Fund's financial and operational performance as at December 31, 2024, for the three months ended June 30, 2024 ("Q2-2024") and for the six months ended June 30, 2024 ("YTD-2024"). All amounts in this press release are in thousands of Canadian dollars except for average monthly rent ("AMR") 1, or unless otherwise stated. "We are pleased to announce another quarter of strong operating results with the Starlight Western Canada Multi-Family (No. 2) Fund achieving year-over-year average monthly rent growth of 3.7%," commented Neil Fischler, Executive Vice President. "Management continues to focus on increasing net operating income at its properties." Q2-2025 HIGHLIGHTS The Fund achieved AMR growth of approximately 3.7% between Q2-2024 and Q2-2025, continuing to be driven by sustained demand for multi-family suites due to continuing economic strength and overall immigration levels in Canada and in particular, Vancouver Island and the mainland of the Province of British Columbia ("BC") (collectively, the "Primary Markets") The Fund reported physical occupancy 1 of 98.4% for the nine multi-family properties owned (the "Properties") as at June 30, 2025. Revenue from property operations and net operating income ("NOI") 1 for Q2-2025 were $5,452 and $3,802 (Q2-2024 - $5,374 and $3,760), respectively, representing an increase of 1.5% in revenue and an increase of 1.1% in NOI relative to Q2-2024, primarily due to higher AMR. The Fund reported a net income and comprehensive income attributable to the unitholders of the Fund (the "Unitholders') for Q2-2025 of $177 (Q2-2024 - income of $1,692). The net income and comprehensive income in Q2-2024 was primarily attributable to fair value adjustment on investment properties. The Fund had approximately $5,003 of available liquidity as at June 30, 2025, including $3,400 of availability under the Fund's credit facility. As at August 13, 2025, the Fund had collected approximately 99.4% of rents for Q2-2025, with further amounts expected to be collected in future periods, demonstrating the Fund's high quality resident base and operating performance. Adjusted funds from operations ("AFFO") 1 for Q2-2025 was $964 (Q2-2024 - $591), representing an increase of $373 or 63.1% relative to Q2-2024 primarily due to an increase in NOI as well as lower finance costs and fund and trust expenses. 1 This metric is a non-IFRS measure. Non-IFRS financial measures do not have standardized meanings prescribed by IFRS (see "Non-IFRS Financial Measures and Reconciliations"). YTD-2025 HIGHLIGHTS Revenue from property operations and NOI for YTD-2025 were $10,912 and $7,599 (YTD-2024 - $10,625 and $7,405), respectively, representing an increase of 2.7% and 2.6% relative to YTD-2024. These increases were primarily due to higher AMR. The Fund reported a net income and comprehensive income attributable to Unitholders for YTD-2025 of $68 (YTD-2024 - $8,360). The higher net income and comprehensive income in YTD-2024 was primarily attributable to fair value adjustment on investment properties and incremental interest on historical balances received from the Fund's corporate banking provider. AFFO for YTD-2025 was $1,943 (YTD-2024 - $999), representing an increase of $944 or 94.5% relative to YTD-2024 primarily due to an increase in NOI as well as lower finance costs and fund and trust expenses. FINANCIAL CONDITION AND OPERATING RESULTS Highlights of the financial and operating performance of the Fund as at June 30, 2025, for Q2-2025 and YTD-2025, including a comparison to December 31, 2024, Q2-2024 and YTD-2024, as applicable, are provided below: June 30, 2025 December 31, 2024 Key multi-family operational information Number of multi-family properties owned 9 9 Total multi-family suites 944 944 Economic occupancy (1)(2) 89.7 % 91.3 % Physical occupancy (1) 98.4 % 94.9 % AMR (in actual dollars) $ 2,039 $ 2,000 AMR per square foot (in actual dollars) $ 2.60 $ 2.56 Selected financial information Gross book value (2) $ 414,830 $ 414,480 Indebtedness (2) $ 268,117 $ 269,546 Indebtedness to gross book value (2) 64.6 % 65.0 % Weighted average interest rate - as at period end (3) 3.25 % 3.28 % Weighted average loan term to maturity 4.59 years 5.09 years Q2-2025 Q2-2024 YTD-2025 YTD-2024 Summarized income statement Revenue from property operations $ 5,452 $ 5,374 $ 10,912 $ 10,625 Property operating costs (1,158) (1,128) (2,401) (2,379) Property taxes (492) (486) (912) (841) Adjusted Income from Operations / NOI 3,802 3,760 7,599 7,405 Fund and trust expenses (550) (591) (1,076) (1,189) Finance costs (4) (2,575) (2,915) (5,150) (5,783) Other income and expense (5) (854) 1,438 (1,305) 7,927 Net (loss) income and comprehensive (loss) income - attributable to Unitholders $ (177) $ 1,692 $ 68 $ 8,360 Other selected financial information Funds from operations ("FFO") (2) $ 677 $ 254 $ 1,373 $ 433 FFO per Unit - basic and diluted 0.05 0.02 0.11 0.03 AFFO 964 591 1,943 999 AFFO per Unit - basic and diluted 0.07 0.05 0.15 0.08 Weighted average interest rate - average during period 3.25 % 3.44 % 3.26 % 3.44 % Interest coverage ratio (2) 1.51 x 1.38 x 1.51 x 1.30 x Indebtedness coverage ratio (2) 1.03 x 0.99 x 1.03 x 0.94 x Distributions to Unitholders $ 1,132 $ 1,089 $ 2,264 $ 2,086 Weighted average Units outstanding - basic and diluted (000s) 12,932 12,970 12,937 12,973 (1) Economic Occupancy for Q2-2025 and Q4-2024 and Physical Occupancy as at the end of each applicable reporting period. The Fund's Economic Occupancy for Q2-2025 was 89.7% including the impact of any concessions to residents. Physical occupancy at the end of the period was 98.4% as the Fund focused on increasing the Physical Occupancy at the Properties. (2) This metric is a non-IFRS measure. Non-IFRS financial measures do not have standardized meanings prescribed by IFRS (see "Non-IFRS Financial Measures and Reconciliations"). (3) The weighted average interest rate on loans payable is presented as at June 30, 2025 and December 31, 2024, respectively. (4) Finance costs include interest expense on loans payable as well as non-cash amortization of deferred financing costs and other financing costs. (5) Includes distributions to Unitholders, fair value adjustment of investment properties, provision for carried interest and one time interest income. NON-IFRS FINANCIAL MEASURES AND RECONCILIATIONS The Fund's condensed consolidated interim financial statements are prepared in accordance with IFRS Accounting Standards ("IFRS"). Certain terms that may be used in this press release such as AFFO, AMR, adjusted net income and comprehensive income, cash provided by operating activities including interest costs, economic occupancy, physical occupancy, FFO, gross book value, indebtedness, indebtedness coverage ratio, indebtedness to gross book value, interest coverage ratio and NOI (collectively, the "Non-IFRS Measures") as well as other measures discussed elsewhere in this press release, are not measures defined under IFRS as prescribed by the International Accounting Standards Board, do not have standardized meanings prescribed by IFRS and are, therefore, unlikely to be comparable to similar measures as reported by other issuers. The Fund uses these measures to better assess its underlying performance and provides these additional measures so that investors may do the same. Information on the most directly comparable IFRS measures, composition of the Non-IFRS Measures, a description of how the Fund uses these measures, and an explanation of how these Non-IFRS Measures provide useful information to the investors are set out in the Fund's management's discussion and analysis ("MD&A") in the "Non-IFRS Financial Measures" section for Q2-2025 and are available on the Fund's profile on SEDAR+ at which is incorporated by reference into this press release. A reconciliation of the Fund's interest coverage ratio and indebtedness coverage ratio are provided below: (1) Non-cash or one-time items consist of amortization of deferred financing costs, fair value adjustment on investment properties, interest income and provision for carried interest. (2) This metric is a non-IFRS measure. Non-IFRS financial measures do not have standardized meanings prescribed by IFRS (see "Non-IFRS Financial Measures and Reconciliations"). (3) Interest coverage ratio is calculated as adjusted net income and comprehensive income plus interest expense, divided by interest expense. (4) Indebtedness coverage ratio is calculated as adjusted net income and comprehensive income plus interest expense, divided by interest expense and mandatory principal payments on the Fund's loans payable for a specific reporting period. For Q2-2025, the interest coverage ratio and the indebtedness coverage ratio were 1.51x and 1.03x (Q2-2024 - 1.38x and 0.99x), respectively. The increase in both ratios during Q2-2025 relative to Q2-2024 was primarily due to higher NOI and lower finance costs. CASH PROVIDED BY OPERATING ACTIVITIES RECONCILIATION TO FFO and AFFO The Fund was formed as a "closed-end" fund with an initial term of three years, a targeted yield of 3.0% to 4.0% and a targeted minimum 12% pre-tax total investor internal rate of return across all Units. Basic and diluted AFFO and AFFO per unit for Q2-2025 were $964 and $0.07 (Q2-2024 - $591 and $0.05), respectively, representing an increase in AFFO of $373 or 63.1%, primarily due to an increase in NOI as well as lower finance costs and fund and trust expenses. A reconciliation of the Fund's cash provided by operating activities determined in accordance with IFRS to FFO and AFFO for Q2-2025, Q2-2024, YTD-2025 and YTD-2024 is provided below: Q2-2025 Q2-2024 YTD-2025 YTD-2024 Cash provided by operating activities $ 3,336 $ 4,135 $ 6,437 $ 6,507 Less: interest and finance costs (2,241) (2,531) (4,486) (5,123) Cash provided by operating activities - including interest costs (1) 1,095 1,604 1,951 1,384 Add / (deduct): Change in non-cash operating working capital (122) (980) 84 (315) Change in restricted cash 38 14 2 24 Amortization of financing costs (334) (384) (664) (660) FFO 677 254 1,373 433 Add / (deduct): Amortization of financing costs 334 384 664 660 Sustaining capital expenditures and suite renovation reserves (47) (47) (94) (94) AFFO $ 964 $ 591 $ 1,943 $ 999 (1) This metric is a non-IFRS measure. Non-IFRS financial measures do not have standardized meanings prescribed by IFRS (see "Non-IFRS Financial Measures and Reconciliations"). The Fund's cash provided by operating activities, including interest and finance costs for Q2-2025 was $1,095 (Q2-2024 - $1,604), which was lower than distributions declared to Unitholders by $37 (Q2-2024 - higher than distributions declared to Unitholders by - $515).The Fund covers any shortfall between Cash Provided by Operating Activities Including Interest Costs and distributions using cash generated from operating activities of the Fund in certain periods where applicable, or through cash on hand, including any proceeds from financing activities as applicable or availability on the Fund's credit facilities. FUTURE OUTLOOK Since 2022, concerns over rising inflation contributed to a significant increase in interest rates with the Bank of Canada raising its target interest rate from 0.25% in early 2022 to 5.0% as of Q1-2024. Increases in target interest rates typically lead to increases in borrowing costs. Inflation in Canada has declined from its peak in June 2022 of 8.1% to 1.9% in June 2025 with improvements in global supply chains and the effects of higher interest rates moving through the economy. As a result, the Bank of Canada has reduced its target interest rate by a total of 225 basis points since June 2024, bringing it down to 2.75% as of August 14, 2025. The Fund benefits from the availability of Canada Mortgage and Housing Corporation insured financing to the Canadian residential sector, which provided a stable, competitively priced source of financing. Operating fundamentals continue to be favorable as evidenced by the operating results achieved by the Fund and the Fund has made steady progress in mitigating the significant increases in interest rates by increasing the amount of fixed rate debt to 94.0% of its total debt as at June 30, 2025. Given the Fund was formed as a "closed-end" fund with an initial term of three years, it is the Fund's intention to maintain its targeted annual yield of 3.0% to 4.0% across all classes of Units despite elevated interest rates. The Fund continues to actively monitor the current interest rate environment and any associated impact this may have on the Fund's financial performance and ability to pay distributions. According to Statistics Canada, the June 2025 unemployment rate in Canada was 6.5%, as compared to an unemployment rate of 5.5% in BC, including Vancouver Island and the Coast Region. BC gained approximately 49,900 jobs between June 2024 and June 2025, demonstrating the economic strength of the Primary Markets. Each year, the Federal Department of Immigration, Refugees and Citizenship Canada ("IRCC") releases a new Immigration Levels Plan to guide its operations. In 2024, IRCC welcomed a record of 464,000 immigrants to Canada with a target of 395,000 immigrants for 2025. Canada's initial target was to welcome 500,000 new permanent residents each year, however, subsequent to September 2024, these targets were adjusted to 395,000 and 380,000 for the years of 2025 and 2026, respectively, with a further reduction to 365,000 for 2027. In early 2025, the United States announced certain tariffs on steel, aluminum and other imported components, with further tariffs enacted and continuing to be in effect between Canada and the U.S. and the U.S. and various other jurisdictions. These tariffs may result in increased construction or renovation costs for multi-family projects in Canada and the Primary Markets. While recent interest rate cuts have improved borrower sentiment and affordability, further reductions by the Bank of Canada are uncertain due to relatively strong employment market and the potential impacts of any new U.S. tariffs. The Fund does not expect any significant impact to the Fund's operating results from changes in immigration, tariffs or interest rates, as the core fundamentals of the economy remain robust. The Fund continues to closely monitor these ongoing developments. The above factors as well as the lack of housing supply and affordability, have made it more challenging for existing residents of multi-family properties to buy homes. In addition, the construction slowdown of new homes due to elevated interest rates has also continued to result in increased demand for multi-family suites and an expected reduction in new supply. The Primary Markets, including Langford, Nanaimo, Vernon and Langley, possess attractive qualities such as some of the fastest growing populations in BC with strong demographics of highly educated young professionals and families, diverse local job sectors, desirable dwelling locations with waterfront and mountain views, as well as significant economic growth creating an environment for continued demand which drives occupancy and rent growth given the limited supply of multi-family suites. The Fund believes it is well positioned to take advantage of sustained levels of immigration and favourable market conditions that are expected to continue to persist in future periods. Further disclosure surrounding the Future Outlook is included in the Fund's MD&A in the "Future Outlook" section for Q2-2025 under the Fund's profile, which is available on FORWARD-LOOKING STATEMENTS Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws and which reflect the Fund's current expectations regarding future events, including the overall financial performance of the Fund and the Properties, the impact of elevated levels of inflation and interest rates and uncertainty surrounding U.S. tariffs. Forward-looking information is provided for the purposes of assisting the reader in understanding the Fund's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information may relate to future results, the impact of inflation levels and interest rates, acquisitions, financing, performance, achievements, events, prospects or opportunities for the Fund or the real estate industry and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, occupancy levels, AMR, taxes, and plans and objectives of or involving the Fund. Particularly, matters described in "Future Outlook" are forward-looking information. In some cases, forward-looking information can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "goal", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. Forward-looking statements involve known and unknown risks and uncertainties, which may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities may not be achieved. Those risks and uncertainties include: the extent and sustainability of potential higher levels of inflation and the potential impact on the Fund's operating costs; the impact of any tariffs and retaliatory tariffs on the economy; changes in government legislation or tax laws which would impact any potential income taxes or other taxes rendered or payable with respect to the Properties or the Fund's legal entities; the impact of elevated interest rates and inflation; the extent to which favorable operating conditions achieved during historical periods may continue in future periods; the applicability of any government regulation concerning the Fund's residents or rents; the realization of property value appreciation and the timing thereof; the extent and pace at which any changes in interest rates that impact the Fund's weighted average interest rate may occur; and the availability of debt financing. A variety of factors, many of which are beyond the Fund's control, affect the operations, performance and results of the Fund and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. There are numerous risks and uncertainties which include, but are not limited to, risks related to the Units, risks related to the Fund and its business including inflation and changes in interest rates. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements as there can be no assurance actual results will be consistent with such forward-looking statements. Although the Fund believes the expectations reflected in such forward-looking information are reasonable and represent the Fund's projections, expectations and beliefs at this time, such information involves known and unknown risks and uncertainties which may cause the Fund's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Fund's expectations include, among other things, the impact of inflation, the availability of mortgage financing and the interest rates for such financing, and general economic and market factors, including interest rates, business competition and changes in government regulations or in tax laws. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information, as there can be no assurance that actual results will be consistent with such forward-looking information. Information contained in forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including the following: the applicability of any government regulation concerning the Fund's residents or rents; the realization of property value appreciation and the timing thereof; the inventory of residential real estate properties; the ability of the Fund to benefit from any asset management initiatives at certain Properties; the price at which the Properties may be disposed and the timing thereof; closing and other transaction costs in connection with the disposition of the Properties; availability of mortgage financing and current rates and market expectations for future interest rates; the capital structure of the Fund; the extent of competition for residential properties; the growth in NOI generated from asset management initiatives; the population of residential real estate market participants; assumptions about the markets in which the Fund operates; expenditures and fees in connection with the maintenance, operation and administration of the Properties; the ability of Starlight Investments CDN AM Group LP (the "Manager") to manage and operate the Properties; the global and Canadian economic environment; the impact, if any, of inflation on the Fund's operating costs; and governmental regulations or tax laws. There can be no assurance regarding: (a) inflation or changes in interest rates on the Fund's business, operations or performance; (b) the Fund's ability to mitigate such impacts; (c) credit, market, operational, and liquidity risks generally; (d) that the Manager or any of its affiliates, will continue its involvement as asset manager of the Fund in accordance with its current asset management agreement; and (e) other risks inherent to the Fund's business and/or factors beyond its control which could have a material adverse effect on the Fund. The forward-looking information included in this press release relates only to events or information as of the date on which the statements are made in this press release. Except as specifically required by applicable Canadian securities law, the Fund undertakes no obligation to update or revise publicly any forward-looking information, whether because of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. ABOUT STARLIGHT WESTERN CANADA MULTI-FAMILY (NO. 2) FUND The Fund is a trust formed under the laws of Ontario for the primary purpose of indirectly acquiring, owning and operating a portfolio of income producing multi-family rental properties located in BC. The Fund has interests in and operates a portfolio comprising interests in 944 income producing multi-family suites located in the Primary Markets. For the Fund's complete condensed consolidated interim financial statements and MD&A for the three and six months ended June 30, 2025 and any other information related to the Fund, please visit Further details regarding the Fund's unit performance and distributions, market conditions where the Fund's properties are located, performance by the Fund's properties and a capital investment update are also available in the Fund's August 2025 Newsletter which is available on the Fund's profile at SOURCE Starlight Western Canada Multi-Family (No. 2) Fund
Winnipeg Free Press
3 days ago
- Winnipeg Free Press
Judge orders RFK Jr.'s health department to stop sharing Medicaid data with deportation officials
WASHINGTON (AP) — A federal judge ordered the nation's health department to stop giving deportation officials access to the personal information — including home addresses — of all 79 million Medicaid enrollees. The U.S. Department of Health and Human Services first handed over the personal data on millions of Medicaid enrollees in a handful of states in June. After an Associated Press report identified the new policy, 20 states filed a lawsuit to stop its implementation. In July, the Centers for Medicare and Medicaid Services entered into a new agreement that gave the Department of Homeland Security daily access to view the personal data — including Social Security numbers and home address — of all the nation's 79 million Medicaid enrollees. Neither agreement was announced publicly. The extraordinary disclosure of such personal health data to deportation officials in the Trump administration's far-reaching immigration crackdown immediately prompted the lawsuit over privacy concerns. The Medicaid data sharing is part of a broader effort by the Trump administration to provide DHS with more data on migrants. In May, for example, a federal judge refused to block the Internal Revenue Service from sharing immigrants' tax data with Immigration and Customs Enforcement to help agents locate and detain people living without legal status in the U.S. The order, issued by federal Judge Vince Chhabria in California, temporarily halts the health department from sharing personal data of enrollees in those 20 states, which include California, Arizona, Washington and New York. 'Using CMS data for immigration enforcement threatens to significantly disrupt the operation of Medicaid—a program that Congress has deemed critical for the provision of health coverage to the nation's most vulnerable residents,' Chhabria wrote in his decision, issued on Tuesday. Chhabria, an appointee of President Barack Obama, said that the order will remain in effect until the health department outlines 'reasoned decisionmaking' for its new policy of sharing data with deportation officials. A spokesperson for the federal health department declined to directly answer whether the agency would stop sharing its data with DHS. HHS has maintained that its agreement with DHS is legal. Immigrants who are not living in the U.S. legally, as well as some lawfully present immigrants, are not allowed to enroll in the Medicaid program that provides nearly free coverage for health services. But federal law requires all states to offer emergency Medicaid, a temporary coverage that pays only for lifesaving services in emergency rooms to anyone, including non-U.S. citizens. Medicaid is a jointly funded program between states and the federal government. Immigration advocates have said the disclosure of personal data could cause alarm among people seeking emergency medical help for themselves or their children. Other efforts to crack down on illegal immigration have made schools, churches, courthouses and other everyday places feel perilous to immigrants and even U.S. citizens who fear getting caught up in a raid. 'Protecting people's private health information is vitally important,' Washington state's Attorney General Nick Brown said in a statement. 'And everyone should be able to seek medical care without fear of what the federal government may do with that information.' ___
Cision Canada
4 days ago
- Cision Canada
GO RESIDENTIAL REAL ESTATE INVESTMENT TRUST ANNOUNCES INITIAL CASH DISTRIBUTION
TORONTO, Aug. 14, 2025 /CNW/ - GO Residential Real Estate Investment Trust (the " REIT") (TSX: GO.U) today announced a cash distribution of US$0.05325 per trust unit of the REIT (" Unit") for the period from July 31, 2025 (the closing date of the REIT's initial public offering) to August 31, 2025, representing US$0.639 per Unit on an annual basis. Payment will be made on or about September 15, 2025 to unitholders (" Unitholders") of record as of the close of business on August 29, 2025. All or a portion of distributions paid to Non-U.S. Holders (as defined in the Prospectus (as defined below)), including Canadian Unitholders, generally will be subject to U.S. withholding tax. For a general summary of the taxation of distributions paid to Unitholders, including information regarding U.S. withholding tax, please see the "Certain Canadian Federal Income Tax Considerations", "Certain U.S. Federal Income Tax Considerations" and "Risk Factors – Tax-Related Risks" sections in the REIT's prospectus dated July 24, 2025 (the " Prospectus"), a copy of which is available on the SEDAR+ website at Unitholders should consult their tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their particular circumstances. About GO Residential Real Estate Investment Trust GO Residential Real Estate Investment Trust is a newly created, internally managed, open ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The REIT has been formed to provide investors with an opportunity to invest in luxury high-rise multifamily properties (" LHRs") located in the New York metropolitan area and other major metropolitan cities in the United States. The REIT currently owns and operates a portfolio of five LHRs consisting of 2,015 luxury suites located in the borough of Manhattan, New York. Forward-Looking Statements This press release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the REIT regarding future events, including statements concerning the intended monthly distributions of the REIT. In some cases, forward-looking statements can be identified by terms such as "may", "will", "could", "occur", "expect", "anticipate", "believe", "intend", "estimate", "target", "project", "predict", "forecast", "continue", or the negative thereof or other similar expressions concerning matters that are not historical facts. Material factors and assumptions used by management of the REIT to develop the forward-looking information include, but are not limited to, the REIT having sufficient cash to pay its distributions. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. Although management believes the expectations reflected in such forward-looking statements are reasonable and represent the REIT's internal expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties and may not prove to be accurate and certain objectives and strategic goals may not be achieved. A variety of factors, many of which are beyond the REIT's control, could cause actual results in future periods to differ materially from current expectations of events or results expressed or implied by such forward-looking statements, such as the risks identified in the Prospectus available at including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made.
