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Toronto Sun
16 minutes ago
- Toronto Sun
Rising concerns over U.S. move to broaden products subject to metal tariffs
Published Aug 21, 2025 • 1 minute read Spools of steel at an ArcelorMittal Dofasco facility in Hamilton, Ont., March 12, 2025. Photo by Christopher Katsarov Luna / Bloomberg There's growing concern about a move by the United States to make hundreds more product categories subject to the country's 50 per cent tariffs on steel and aluminum content. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The addition of 407 categories, ranging from bulldozers to furniture, came into effect earlier this week to add pressure and costs to those hoping to sell into the U.S. market. Catherine Cobden, head of the Canadian Steel Producers Association says the move is another blow to the integrated Canada-U.S. economy and will impact the manufacturing of steel-containing products in Canada destined for the United States. She says products like cutlery, propane tanks, air conditioners, agricultural equipment like tractors and many more now face the additional tariffs on their metal content. Cobden says in the statement issued Thursday that Canada should retaliate with a 50 per cent tariff on all U.S. steel entering Canada, including ending an 'ill-advised' April reprieve on U.S. steel used in manufacturing and processing. On Wednesday, Hamilton, Ont., mayor Andrea Horwath said Trump's latest 'underhanded move to quietly expand U.S. tariffs' is devastating for the city, adding she's reached out to both the provincial and federal governments to push them to act. Read More Columnists Toronto & GTA Sunshine Girls Toronto Maple Leafs Sunshine Girls
Globe and Mail
16 minutes ago
- Globe and Mail
FDA Extends Review Period of REGN's Submission for Eylea HD
Regeneron Pharmaceuticals, Inc. ( REGN ) announced that the FDA has extended the target action dates for Eylea HD (aflibercept) injection 8 mg regulatory submissions. Eylea HD is the higher dose of Eylea. The regulatory body has now extended the target action dates to the fourth quarter of 2025 for two regulatory submissions for Eylea HD (aflibercept) Injection 8 mg. The submission includes a Chemistry, Manufacturing and Controls Prior-Approval Supplement for the Eylea HD prefilled syringe and a supplemental biologics license application seeking approval for both the treatment of macular edema following retinal vein occlusion (RVO) and the broadening of the dosing schedule to include every 4-week (monthly) dosing across approved indications. Despite the extension announcement, REGN shares were up 3.4%. This information was previously communicated by the company during its second-quarter earnings release. This is probably because Eylea HD remains available in the United States through vial administration. Regeneron's shares have lost 17% year to date against the industry 's gain of 3.8%. More on REGN's Eylea HD The FDA extended the review periods after determining that the information submitted following a recent inspection of a third-party manufacturer constituted a major amendment to each application. The anticipated delay resulted from observations during an FDA general site inspection of Catalent Indiana LLC, which Novo Nordisk A/S ( NVO ) acquired in December 2024. Novo Nordisk submitted a comprehensive response in early August 2025 to address the observations noted by the FDA. Eylea HD is approved with dosing intervals every 8 to 16 weeks for patients with wet age-related macular degeneration and diabetic macular edema, and every 8 to 12 weeks for patients with diabetic retinopathy, following three initial monthly doses. Eylea HD (known as Eylea 8 mg in the European Union and Japan) is being jointly developed by Regeneron and Bayer AG ( BAYRY ). While Regeneron holds exclusive rights to Eylea and Eylea HD in the United States, BAYRY holds the exclusive marketing rights outside the country. REGN and BAYRY equally share the profits from sales of Eylea and Eylea HD. REGN Banks on Eylea HD and Dupixent for Growth Regeneron's performance in the second quarter was encouraging. The company has finally managed to post revenue growth despite declining sales of lead drug Eylea. Eylea sales continue to decline due to competition from Vabysmo. To counter the decline in Eylea sales, Regeneron has developed a higher dose of the drug. Eylea HD sales in the United States surged 29% in the second quarter due to higher sales volumes driven by increased demand. REGN's top line also comprises its share of profits/losses in connection with the global sales of Dupixent. Partner Sanofi ( SNY ) records global net product sales of Dupixent. SNY and REGN are working to expand the drug's label further. The FDA had earlier approved Dupixent for chronic obstructive pulmonary disease (COPD). The approved indication is an add-on maintenance treatment for adults with inadequately controlled COPD and an eosinophilic phenotype. Consistent label expansions of Dupixent continue to fuel its sales and help REGN earn higher profits. REGN is looking to strengthen its oncology portfolio to diversify its revenue stream. The recent progress with its oncology pipeline has been encouraging. The approval of Lynozyfic is a boost for its oncology portfolio. Zacks Rank Regeneron currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN): Free Stock Analysis Report Novo Nordisk A/S (NVO): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis Report
CTV News
16 minutes ago
- CTV News
Court monitor says it doesn't support Hudson's Bay plan to sell leases to Ruby Liu
Billionaire Ruby Liu listens during an interview at a former Hudson's Bay-owned Saks Off 5th department store after a "handover ceremony" where she received the keys to the space at Tsawwassen Mills shopping mall that she owns, in Tsawwassen, B.C., on Thursday, June 26, 2025. THE CANADIAN PRESS/Darryl Dyck TORONTO — The court-appointed monitor overseeing Hudson's Bay's creditor protection case says it's against landlords being forced to accept a B.C. billionaire's plan to buying more than two dozen of the retailer's leases. In a new court filing made overnight, Alvarez & Marsal says it does not agree that landlords should be forced to accept Ruby Liu as a tenant even while it says it supports the sales process that ended with her chosen to buy 28 of the Bay's leases. Liu purchased three Bay leases at her own B.C. malls for $6 million, but her deal to buy the other 25 for $69.1 million has faced opposition from one of the retailer's biggest lenders and most of its landlords. They say the leases don't allow for the dining, entertainment and recreational spaces Liu has talked about opening within the department stores she will operate in the properties. They also say Liu's timelines and budgets are too unrealistic given the amount of work and repairs their properties need. Liu says she doesn't think the spaces need all of the repairs landlords are demanding because the Bay was operating in the spaces without the renovations. If they are necessary, she says her company will do them, even if they exceed her current budget. --- Tara Deschamps, The Canadian Press This report by The Canadian Press was first published Aug. 21, 2025.
