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Bloomberg
8 hours ago
- Business
- Bloomberg
Keeping Track of the Twists and Turns of Trump's Tariffs
This is Washington Edition, the newsletter about money, power and politics in the nation's capital. Every Monday, Bloomberg Intelligence senior analyst Nathan Dean gives his insights into what's been happening and what's coming up in the nooks and crannies of government and markets. Sign up here and follow us at @bpolitics. Email our editors here. Happy June! When I'm not writing about policy, I spend time coaching 8-year-olds. And so, weeks of somewhat-hard work and more Gatorade and after-game donuts than a person should consume ended with our flag football team victorious in the championship game. Only heart attack moment was when my son decided to attempt a Travis Kelce lateral when he was supposed to run three yards for a first down.
Yahoo
13 hours ago
- Business
- Yahoo
Cancer Moonshot: Bristol-Myers Just Dropped $11 Billion on a Single BioNTech Drug
Bristol-Myers Squibb (NYSE:BMY) is doubling down on its oncology ambitions with a deal that could reach $11.1 billion, partnering with BioNTech (NASDAQ:BNTX) to co-develop a next-generation cancer therapy known as BNT327. The German biotech will receive $1.5 billion upfront, $2 billion in staggered payments through 2028, and stands to gain another $7.6 billion if clinical and commercial milestones are met. Both companies will share development costs and future profits. The deal reflects growing urgency among pharma giants to replenish their pipelines, as legacy blockbusters face generic competition. Bloomberg Intelligence estimates this class of immunotherapy drugs could generate $60 billion annually by 2027. BNT327's backstory adds intrigue. BioNTech originally licensed the compound from Chinese biotech Biotheus in 2023 before acquiring the company outright for up to $950 million. It's now positioning the therapy as a core asset in its oncology portfolio. While early trial data suggests Pfizer's competing drug may show stronger efficacy, BioNTech is further along in developing broader cancer indications. The approach behind these drugs is evolving fastmerging immunotherapy with anti-angiogenesis mechanisms to cut off tumors' blood and oxygen supply. This model gained traction after Akeso and Summit Therapeutics' combination therapy showed promising results against Merck's Keytruda in a major Chinese trial. Still, the bar remains high. These new therapies haven't yet demonstrated a consistent survival advantage over standard treatments, and head-to-head data outside China could take years. For BioNTech, though, this deal marks a decisive return to its original focuscancerafter riding a pandemic-era wave with its COVID-19 vaccine. Bristol-Myers also gains optionality: the ability to pair BNT327 with other in-house experimental compounds. With both firms now locked into a shared bet on combo therapies, this could be a pivotal move in a rapidly shifting oncology landscape. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
13 hours ago
- Business
- Yahoo
Cancer Moonshot: Bristol-Myers Just Dropped $11 Billion on a Single BioNTech Drug
Bristol-Myers Squibb (NYSE:BMY) is doubling down on its oncology ambitions with a deal that could reach $11.1 billion, partnering with BioNTech (NASDAQ:BNTX) to co-develop a next-generation cancer therapy known as BNT327. The German biotech will receive $1.5 billion upfront, $2 billion in staggered payments through 2028, and stands to gain another $7.6 billion if clinical and commercial milestones are met. Both companies will share development costs and future profits. The deal reflects growing urgency among pharma giants to replenish their pipelines, as legacy blockbusters face generic competition. Bloomberg Intelligence estimates this class of immunotherapy drugs could generate $60 billion annually by 2027. BNT327's backstory adds intrigue. BioNTech originally licensed the compound from Chinese biotech Biotheus in 2023 before acquiring the company outright for up to $950 million. It's now positioning the therapy as a core asset in its oncology portfolio. While early trial data suggests Pfizer's competing drug may show stronger efficacy, BioNTech is further along in developing broader cancer indications. The approach behind these drugs is evolving fastmerging immunotherapy with anti-angiogenesis mechanisms to cut off tumors' blood and oxygen supply. This model gained traction after Akeso and Summit Therapeutics' combination therapy showed promising results against Merck's Keytruda in a major Chinese trial. Still, the bar remains high. These new therapies haven't yet demonstrated a consistent survival advantage over standard treatments, and head-to-head data outside China could take years. For BioNTech, though, this deal marks a decisive return to its original focuscancerafter riding a pandemic-era wave with its COVID-19 vaccine. Bristol-Myers also gains optionality: the ability to pair BNT327 with other in-house experimental compounds. With both firms now locked into a shared bet on combo therapies, this could be a pivotal move in a rapidly shifting oncology landscape. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16 hours ago
- Business
- Bloomberg
HF Foods' Lin on Organic Growth Strategies, M&A: Choppin' It Up
M&A is a great opportunity for HF Foods Group because Asian specialty foodservice distribution is primarily made up of smaller competitors and HF is the only national player in the US, CEO and President Felix Lin tells Bloomberg Intelligence. In this episode of the Choppin' It Up podcast, Lin sits down with BI's senior restaurant and foodservice analyst Michael Halen to discuss the company's plans to grow organically and via acquisitions. He also comments on the new e-commerce platform, competition from Sysco and the impact of tariffs.
Yahoo
16 hours ago
- Business
- Yahoo
Bristol to Pay BioNTech Up to $11.1 Billion in Cancer Deal
(Bloomberg) -- Bristol-Myers Squibb Co. will pay BioNTech SE as much as $11.1 billion to license a next-generation cancer drug, as competition intensifies in an area of oncology that seeks to harness the immune system to attack tumors. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months The German biotech will receive $1.5 billion upfront and $2 billion in installments through 2028, the companies said Monday. BioNTech will also be eligible for as much as $7.6 billion in milestone payments, and the partners will split development and manufacturing costs and profits equally. It's the latest in a slew of deals as pharmaceutical companies battle for a share of a market currently led by Merck & Co.'s Keytruda, the world's best-selling drug. Global sales of immuno-oncology treatments could reach $60 billion a year by 2027, according to Bloomberg Intelligence. Bristol-Myers has been pumping billions into its pipeline ahead of a patent cliff. Its deal for BioNTech's compound — dubbed BNT327 — comes weeks after rival Pfizer Inc. agreed to pay 3SBio Inc. as much as $6.1 billion, a record for a Chinese biotech, to license a similar cancer asset. It also marks a major payoff for BioNTech, which licensed BNT327 from Chinese biotech Biotheus in 2023 and later bought the company outright for up to $950 million. US-listed shares in BioNTech rose as much as 15% in premarket trading, with shares in Bristol-Myers edging about 1% higher. Study data presented at the American Society of Clinical Oncology meeting suggests the Pfizer asset may be the most effective, though BioNTech is ahead in the effort to expand use of such treatments to more types of cancers, Bloomberg Intelligence analyst Sam Fazeli said in a note Monday. Experimental Drugs This new category of cancer treatments effectively took off last year when Chinese biotech Akeso Inc. and its US partner Summit Therapeutics Inc. said their experimental drug had beaten Keytruda in a Chinese clinical trial. The Akeso-Summit compound, and others like BioNTech's BNT327, combine existing immune-oncology technology similar to Keytruda's with a second type of medicine that cuts off the blood and oxygen supply to tumors. The idea is to make immune treatments that will be effective for more patients. It's still unclear whether the new drugs will replace Keytruda. Summit said Friday that although its asset reduced the risk of cancer progression in a global late-stage trial, compared to chemotherapy alone, it hadn't yet been shown to extend patients' lives — the gold standard in oncology. Data from a head-to-head study versus Keytruda in patients outside China is potentially years away. Merck's shares were little changed in premarket trading in New York. The deal between Bristol-Myers and BioNTech gives both companies the right to study either partner's other experimental compounds together with BNT327. That fits a BioNTech strategy of pursuing combination treatments for tumors. Though BioNTech rose to prominence with the Covid-19 vaccine it licensed to Pfizer, it was founded before the global pandemic as a cancer company. It has deployed much of its Covid windfall back into the field of oncology. Bristol-Myers has spent more than $20 billion on acquisitions since late 2023 to bolster its pipeline. Opdivo, its blockbuster cancer immunotherapy, is expected to meet pricing pressure before the end of the decade, and its blood thinner Eliquis will have generic competition in 2028. --With assistance from Amber Tong and Damian Garde. (Updates with oncology market context from third paragraph.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio
