Sanofi stops supply of high cholesterol drug to China due to limited availability
"The surge in demand has led to limited availability in China, and some other countries," Sanofi said in a statement sent to Reuters, adding "at the moment Praluent's supply in China has already stopped."
It didn't say when supply would resume.
Sanofi said it had "invested to strengthen global production of Praluent, to meet a rising global demand which accelerated sharply over the past two years".
The company said clinical experts had found there were other medicines on China's National Reimbursement Drug List that were "safe and appropriate" for patients currently being treated with Praluent and it was working with healthcare providers in China to "ensure a smooth transition for patients".
Sanofi is the latest foreign drugmaker to stop supplying popular medications to China. Merck (MRK.N), opens new tab suspended shipments of its blockbuster human papillomavirus vaccine Gardasil to the country in February, citing weak discretionary spending.
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The Independent
16 minutes ago
- The Independent
FTSE 100 boosted by US-China trade extension
The FTSE 100 made steady progress on Tuesday, boosted by a US- China trade extension and broadly as expected US inflation figures. The FTSE 100 index closed up 18.10 points, 0.2%, at 9,147.81. The FTSE 250 ended 46.80 points lower, 0.2%, at 21,842.69, while the AIM All-Share finished up 1.06 points, 0.1%, at 759.27. In Europe, the CAC 40 in Paris rose 0.7%, while the DAX 40 in Frankfurt eased 0.2%. In New York, the Dow Jones Industrial Average was up 1.0%, the S&P 500 was 0.8% higher, hitting an all-time high, and the Nasdaq Composite advanced 1.0%. Annual consumer price index inflation in the US was a notch lower than expected, while core CPI was higher than anticipated in July, data published by the US Bureau of Labour Statistics showed. The country's annual CPI inflation rate was unchanged at 2.7% in July. This was the same as in June but lower than the FXStreet-cited market consensus of an uptick to 2.8%. The monthly inflation rate slowed to 0.2% in July from 0.3% in June. The deceleration was as expected. However, core annual CPI inflation increased to 3.1% in July from 2.9% in June, higher than the expected increase to 3.0%. Monthly core inflation edged up to 0.3% in July, in line with market consensus, from 0.2% in June. James Knightley at ING said: 'Inflation was broadly in line with expectations as tariffs continue to be largely absorbed within US corporate profit margins. This gives the Fed the room to respond to the weaker jobs backdrop and cut interest rates from September.' The CME FedWatch tool on Tuesday put a 90% chance of a 25 basis points interest rate cut at the September Federal Reserve meeting compared to 86% on Monday. The pound jumped to 1.3509 dollars late on Tuesday afternoon in London, compared to 1.3402 dollars at the equities close on Monday. The euro climbed to 1.1682 dollars, higher against 1.1591 dollars. Against the yen, the dollar was trading lower at 147.83 yen compared to 148.09 yen. Blue chips in London had earlier opened brightly as investors breathed a sigh of relief after a trade truce extension between the US and China. As part of their May truce, fresh US tariffs targeting China were reduced to 30% and the corresponding level from China was cut to 10%. Those rates will now hold until November – or whenever a deal is agreed before then. The yield on the US 10-year Treasury was at 4.30%, stretched from 4.28%. The yield on the US 30-year Treasury was 4.89%, widened from 4.84%. Back in London, investors assessed the latest data on jobs and average earnings. The Office for National Statistics (ONS) said the rate of unemployment in the three months to June remained at 4.7%, where it also had stood in the three months to May. Compared with the three months to March, however, the unemployment rate picked up from 4.5%. The latest figure was in line with the FXStreet-cited market forecast. Average weekly earnings, including bonuses in the three months to June eased to 4.6% from 5.0% in the period to May. Growth of 4.7% had been expected, according to FXStreet. Regular pay growth remained at 5.0%, in line with expectations. The ONS said an estimate showed payrolled employees fell by 149,000 on-year in June, and by 26,000 on-month. 'The early estimate of payrolled employees for July 2025 decreased by 164,000 on the year, and by 8,000 on the month,' the ONS added. ING said while the UK jobs market is undoubtedly cooling, a more modest fall in payroll employment suggests that the worst may be behind us. Better news on wage growth suggests the Bank of England can still afford to cut rates in November, though after 'last week's hawkish meeting, this call has become less clear-cut', the broker added. On the FTSE 100, half-year results from Spirax Group were seen as 'very reassuring', following a difficult period marked by significant headwinds, analysts on Tuesday said. Shares in the Cheltenham-based industrial engineering company specialising in thermal energy management and fluid technology solutions soared 13% as it reiterated full year guidance and reported six-month results ahead of expectations. Analysts at Citi said while guidance has been retained, 'the beat in H1 combined with commentary on an expected H2 organic sales acceleration could lead to expectations that there is some upside potential to consensus expectations for the year, especially on margins'. Panmure Liberum said the 'strong results are a step back in the right direction'. Spirax expects second-half organic sales growth to accelerate while organic margin progress is also expected to be greater than in the first half. But Entain fell back 1.9%. The Isle of Man-based gambling firm posted a £96.0 million pre-tax loss for the six months that ended on June 30, compared with a profit of £13.7 million the year prior. This was partly due to a civil penalty imposed by the Australian Transaction Reports & Analysis Centre to which Entain allocated £47.7 million in the first half of 2025. Despite this, Entain raised its full-year outlook for online net gaming revenue to be 7% higher on a constant currency basis, compared with the previous 'mid-single-digit' growth range. New guidance was added for Ebitda between £1.10 billion and £1.15 billion. Bank of America said while the upgraded guidance may seem 'modest', it looks 'well underpinned'. Housebuilder Bellway climbed 1.6% as it predicted further growth in the financial year ahead, despite 'softer' market conditions in recent months, and reported new home production ahead of guidance. The Newcastle upon Tyne housebuilder said total housing completions increased by 14% to 8,749 homes in the financial year that ended July 31 from 7,654 a year prior, at an overall average selling price of around £316,000, up year-on-year from £307,909, both slightly ahead of previous guidance. In June, the FTSE 250 listing had said it expected volume output in financial 2025 to be between 8,600 and 8,700 homes, raised from 'at least 8,500' before. Average selling prices were anticipated at £315,000. Chief executive Jason Honeyman said it was a 'solid' performance despite 'ongoing headwinds for our industry'. But Genuit fell 3.4% as it warned that the business environment remains challenging and market volumes are not expected to increase this year. Brent oil was quoted at 66.29 dollars a barrel in London on Tuesday, down from 66.49 dollars late on Monday. Gold advanced to 3,355.98 dollars an ounce against 3,347.03 dollars. 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BBC News
16 minutes ago
- BBC News
No printers and desktop PCs, Starbucks Korea tells customers
Starbucks customers in South Korea have been asked to stop bringing "bulky items" into cafes to do their office work, after some brought printers and desktop had brought in partitions and more than one computer to mark their office many people choose to work from home, cafes like Starbucks have been trying to strike the balance between being a casual coffee place and welcoming customers choosing to work said laptops, iPads, and mobile phones are still welcome but not items that "impact the shared space" and limit seating. Starbucks's announcement comes as the growing trend of those studying and working at cafes - cagongjok - becomes a subject of intense debate in Korean society. Since the pandemic, as the trend towards working from home escalates, many have started using the term cagonjok in not-so-friendly terms, showing irritation at those who use the seats for hours after only buying one users in Korea on social media have said cagonjok are also freeloading electricity."If you can't afford an office space and Starbucks is silly enough to let you run your office there for the price of their less-than-mediocre sugary caffeine beverage, go for it," said one user on Reddit. 'Bad manners' Koreans on social media have been reacting to the announcement from Starbucks."Good job," said one Korean user on social media. "Now that Starbucks has started, other cafes should follow suit".Another said that people working from cafes made him stop going to Starbucks, and that the announcement is a "measure against those who've crossed the line with their bad manners"."It feels like there are way too many people without common sense these days," the user wrote. A spokesperson for Starbucks said: "Starbucks Korea has updated its policy so all customers can have a pleasant and accessible store experience. "While laptops and smaller personal devices are welcome, customers are asked to refrain from bringing desktop computers, printers, or other bulky items that may limit seating and impact the shared space". "Starbucks remains committed to being a welcoming third place for coffee and connection, and where community thrives in every cup, every conversation, and every visit", Starbucks concluded, though its mild-mannered response hides the derision many feel for those seen to be hogging seats at cafes. Starbucks's in South Korea move echoes sentiment in cafes across the world, including in England where some coffee shops have introduced policies aimed at stopping remote workers from "hogging" tables and limiting turnover. Additional reporting by Hosu Lee.
Reuters
16 minutes ago
- Reuters
Magic Moments maker ties up with Bollywood star Shah Rukh Khan to launch premium tequila
Aug 12 (Reuters) - Radico Khaitan ( opens new tab, the maker of "Magic Moments" vodka, will invest up to $4.56 million and team up with Bollywood actor Shah Rukh Khan and Zerodha co-founder Nikhil Kamath to launch a premium tequila brand, marking its foray into the category. The Indian liquor maker, known for premium offerings such as Rampur Indian Single Malt and Jaisalmer Indian Craft Gin, will roll out the brand D'YAVOL Añejo — a premium spirit made from agave and aged about two years in wine casks. D'YAVOL, a luxury brand founded in 2022 by Shah Rukh Khan's son Aryan Khan, along with Leti Blagoeva and Bunty Singh, is headquartered in Amsterdam and offers vodka, blended malt Scotch whisky and premium streetwear. D'YAVOL Añejo is set to launch by December and depending on state excise duty, will be priced between 20,000 rupees ($228.21) and 30,000 rupees, Radico Khaitan Managing Director Abhishek Khaitan told Reuters on Tuesday. The launch comes as affluent Indians increasingly splurge on everything from luxury dining to premium alcohol, housing and cars. Alcohol sales in the country, according to data from analytics firm Crisil, are projected, opens new tab to grow as much as 10% to $61.35 billion in fiscal 2026. Tequila is one of the fastest growing segments globally and India is catching on very fast. The market size in the country is about 300,000 cases, out of which 15% is the Añejo (Spanish word meaning 'aged') category, Khaitan said. "We believe that in the next five years, tequila can reach a volume of about a million cases in India plus global market, so I think it was a great opportunity," he said. Under the partnership, Radico Khaitan and Shah Rukh Khan's family will each hold a 47.5% stake in the venture, while Kamath will own 5%. The deal also underscores the fierce competition in mass and premium liquor segments. Just three weeks ago, peer Tilaknagar Industries ( opens new tab bought the "Imperial Blue" whisky brand from Pernod Ricard ( opens new tab for $486 million. ($1 = 87.6370 Indian rupees)
