Latest news with #Non-US
Business Upturn
3 days ago
- Business
- Business Upturn
Alkem Laboratories Q1 Results: Revenue jumps 11.2% YoY to Rs 3,371 crore, net profit up Rs 21.45% YoY
By Aman Shukla Published on August 12, 2025, 13:40 IST Alkem Laboratories has delivered a strong set of numbers for the first quarter of FY26, with growth across revenue, profit, and operational performance. The company reported a consolidated net profit of ₹668 crore, marking a solid 21.45% year-on-year jump from ₹550 crore in the same quarter last year. Revenue also saw healthy growth, rising 11.2% to ₹3,371 crore compared to ₹3,031.8 crore a year ago. The pharmaceutical major's EBITDA stood at ₹739 crore, up 21.35% from ₹609 crore, with margins improving to 21.9% from 20% in the previous year. The domestic business remained the key growth driver, clocking sales of ₹2,265 crore, a 12% increase from the previous year, contributing 68.3% to total sales. According to IQVIA (SSA) data, the company outperformed the Indian Pharmaceutical Market (IPM) in seven therapies, including Gastrointestinal, Vitamins/Minerals/Nutrients, Pain Management, Anti-Diabetics, Neuro/CNS, Respiratory, and Dermatology, with growth ranging from 1.1x to 2.3x the market rate. On the international front, sales stood at ₹1,053.9 crore, registering an 8.9% year-on-year rise. The US business contributed ₹698.2 crore, up 8.8% from last year and accounting for 21% of total sales. Non-US international markets generated ₹355.6 crore, up 9.1%, contributing 10.7% to total revenue. In the US market, Alkem filed its first Biologics License Application (BLA), received five ANDA approvals (including two tentative), and launched three new products during the quarter. As of June 30, 2025, the company had filed 185 ANDAs, two NDAs, and one BLA with the USFDA, receiving approvals for 160 ANDAs (including 15 tentative) and both NDAs. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
3 days ago
- Business
- Business Upturn
Alkem Laboratories shares jump 6% on strong Q1 results
Alkem Laboratories' stock jumped over 6% after the pharma major delivered an impressive set of numbers for the quarter ended June 30, 2025, driven by robust domestic and international performance. As of 1:46 PM, the shares were trading 6.04% higher at Rs 5,137.00. The company's consolidated net profit rose 21.45% year-on-year to ₹668 crore, compared to ₹550 crore in the same period last year. Revenue climbed 11.2% to ₹3,371 crore from ₹3,031.8 crore, while EBITDA grew 21.35% to ₹739 crore, up from ₹609 crore a year ago. Margins also improved to 21.9%, against 20% in the previous year, reflecting operational efficiency. Domestic market The domestic formulations business remained Alkem's biggest revenue contributor, generating ₹2,265 crore in sales — a 12% YoY increase and accounting for 68.3% of the company's total revenue. As per IQVIA (SSA) data, Alkem outperformed the Indian Pharmaceutical Market (IPM) in seven key therapies — Gastrointestinal, Vitamins/Minerals/Nutrients, Pain Management, Anti-Diabetics, Neuro/CNS, Respiratory, and Dermatology — growing at 1.1x to 2.3x the market rate. International market International sales rose 8.9% YoY to ₹1,053.9 crore. The US business, which contributes 21% to total sales, clocked ₹698.2 crore, up 8.8% from last year. Non-US international markets brought in ₹355.6 crore, marking a 9.1% increase and contributing 10.7% to total revenue. In the US market, Alkem made significant strides, including filing its first Biologics License Application (BLA), securing five Abbreviated New Drug Application (ANDA) approvals (two tentative), and launching three new products during the quarter. As of June 30, 2025, the company had filed 185 ANDAs, two New Drug Applications (NDAs), and one BLA with the USFDA, with approvals for 160 ANDAs (including 15 tentative) and both NDAs. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash
Business Upturn
29-07-2025
- Business
- Business Upturn
ZOOZ Announces Private Placement of $180 Million to Launch a Bitcoin Treasury Reserve Strategy
ZOOZ to become the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury The Board of Directors of the Company has approved the new strategy, which provides investors with exposure to Bitcoin Jordan Fried to become CEO to lead the first Israeli digital asset treasury strategy Largest offering by a Non-US Listed Company to launch a digital asset treasury strategy TEL AVIV, Israel, July 29, 2025 (GLOBE NEWSWIRE) — ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) ('ZOOZ' or the 'Company') today announced a $180 million private placement, or PIPE, with accredited institutional investors in connection with its plans to launch a Bitcoin Reserve Strategy. The PIPE, which is subject to shareholders' approval, is expected to involve the sale of 180 million of the Company's ordinary shares and pre-funded warrants at a purchase price of $1.00 per ordinary share. Participants in the PIPE include strategic investors Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners and prominent Israeli investor Alex Rabinovitch. In connection with its approval of the PIPE, the Company's Board of Directors approved the employment of Jordan Fried, a serial technology entrepreneur and investor, who is expected to assume the role of Chief Executive Officer and Director of the Company on July 31st, and to immediately begin implementing the Company's digital asset treasury strategy. Mr. Fried was a founding‑team member of Hedera Hashgraph (HBAR), where he led global go‑to‑market initiatives and strategic investments. The Company's current Chief Executive Officer, Erez Zimerman, will continue to lead ZOOZ Power's flywheel-based advanced solutions, overseeing power booster and energy management systems globally. Also expected to join the Company's Board of Directors on July 31 are: Todd Thomson , former CFO of Citigroup and CEO of Citigroup's Global Wealth Management and Alternative Asset divisions and , former CFO of Citigroup and CEO of Citigroup's Global Wealth Management and Alternative Asset divisions and Samer Haj-Yehia, former Executive Chairman of Bank Leumi. In addition, the Company's Board of Directors nominated the following as directors at the Company's upcoming annual shareholders' meeting: John Christodoro , who has served on boards that include PayPal, Ebay, Xerox, Cheniere Energy, Herbalife, Lyft and Hologix; and , who has served on boards that include PayPal, Ebay, Xerox, Cheniere Energy, Herbalife, Lyft and Hologix; and Jonas Grossman, Co-Founder and President of Chardan. 'As ZOOZ evolves into a dual-listed Bitcoin treasury pioneer, U.S. and Israeli-based investors gain seamless access to our model,' said Jordan Fried, incoming Chief Executive Officer of ZOOZ. 'The company intends to leverage every resource available to a dual-listed entity to scale its Bitcoin holdings, while signaling crypto-native and innovation-focused stakeholders that we are forward-thinking. We see our treasury evolving into a strategic asset that drives growth, stability, and differentiation.' Bitcoin has delivered approximately 82% CAGR over the past decade.1 'This pivot in ZOOZ's business strategy is a significant milestone for the Company,' said Avi Cohen, Executive Chairman of ZOOZ. 'ZOOZ is the first Nasdaq and TASE dual-listed company to hold Bitcoin in its treasury. We are positioning ourselves at the forefront of financial innovation while strengthening our financial resilience. As global financial infrastructure evolves, we believe in the transformative potential of digital assets as a growth opportunity. Incorporating Bitcoin into our treasury better aligns us with a digital future, and we believe that it will significantly enhance long-term shareholder value.' The closing of the PIPE is subject to a shareholder vote, expected to be held on or around September 8, 2025, to approve the terms of the PIPE, an amendment to the Company's articles of association to increase the number of its authorized shares, the election of two directors and various other items. The PIPE is expected to close shortly following the receipt of shareholders' approval. ZOOZ expects to receive aggregate gross proceeds of $180 million from the PIPE, before deducting offering expenses and placement agent fees. ZOOZ intends to use approximately 95% of the net proceeds to execute its Bitcoin treasury strategy after repayment of its approximately $3 million in outstanding promissory notes, with the remaining portion of the net proceeds to be used for general corporate purposes. ZOOZ also announced today an initial private placement with certain institutional accredited investors that is expected to close on July 31, 2025. This private placement is expected to involve the sale of 2.5 million of the Company's ordinary shares (and pre-funded warrants) at a purchase price of $2.00 per ordinary share, with each share (or pre-funded warrant) accompanied by a warrant to purchase two ordinary shares at an exercise price of $3.06 per share. ZOOZ expects to receive aggregate gross proceeds of $5 million from the initial private placement, before deducting offering expenses. The offer and sale of the securities to be sold in the PIPE and the initial private placement, including the ordinary shares underlying the warrants and pre-funded warrants, are being made in transactions not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the ' Securities Act '), or any applicable state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements related to the PIPE and the initial private placement, ZOOZ and the investors entered into registration rights agreements, pursuant to which the Company agreed to file certain resale registration statements with the Securities and Exchange Commission (the 'SEC') to register the resale of the ordinary shares purchased (whether directly or through exercise of warrants) by the investors in the PIPE and the initial private placement. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Advisors Chardan is acting as sole placement agent to ZOOZ Cooley LLP is acting as U.S. legal advisor to ZOOZ Shibolet & Co. is acting as Israeli legal advisor to ZOOZ Goodwin Procter LLP is acting as U.S. legal advisor to Chardan Sullivan & Worcester LLP is acting as Israeli legal advisor to Chardan MS-IR LLC is acting as U.S. Investor Relations Advisor PwC Israel are the Independent Auditors of ZOOZ About ZOOZ ZOOZ Power is a leading provider of flywheel-based power boosting and energy management solutions, accelerating the deployment of ultra-fast electric vehicle (EV) charging infrastructure by overcoming existing grid limitations. In parallel with its core energy technology business, upon the closing the Private Placement, ZOOZ will be the first Nasdaq and TASE dual-listed company implementing a long-term strategic Bitcoin treasury. This innovative approach positions ZOOZ as both a pioneer in sustainable, high-performance EV charging and a forward-thinking capital allocator. Shareholders are expected to benefit from long-term, asymmetric upside through direct exposure to Bitcoin, widely regarded as digital gold, while ZOOZ's core flywheel technology continues to drive growth, efficiency, and environmental sustainability across global charging networks. ZOOZ is publicly traded on Nasdaq and TASE under the ticker ZOOZ. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical facts are 'forward-looking statements. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'seeks,' 'will' and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include statements regarding the timing, size and completion (including the ability to meet the required closing conditions such as the ability to get shareholder approval) of each of the PIPE and the initial private placement, the anticipated use of proceeds from each of the PIPE and the initial private placement and the implementation of the Company's Bitcoin treasury strategy and the potential value to shareholders. These forward-looking statements are based on ZOOZ's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause ZOOZ's future results or performance to differ materially from those expressed or implied by the forward-looking statements. Many factors may cause differences between current expectations and actual results, including: the impacts of macroeconomic conditions, heightened inflation and uncertain credit and financial markets, on ZOOZ's business and financial position; changes in expected or existing competition; changes in the regulatory environment; unexpected litigation or other disputes; risks related to the new Bitcoin treasury program; the risk that ZOOZ's stock price may be highly correlated to the price of the Bitcoin that it holds; risks relating to significant legal, commercial, regulatory, and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose; general market, political, and economic conditions in the countries in which ZOOZ operates, including Israel; and the effect of the evolving nature of the recent war in Israel. Other factors that may cause ZOOZ's actual results to differ from those expressed or implied in the forward-looking statements in this press release are identified under the heading 'Risk Factors' in ZOOZ's annual report on Form 20-F filed with the SEC on March 7, 2025, and in other filings that ZOOZ makes and will make with the SEC in the future. ZOOZ expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law. Investor Contact: Miri Segal – CEOMS-IR LLC [email protected]
The Star
11-06-2025
- Business
- The Star
Dollar floored as investors seek that extra hedge
ALL three major US asset classes – stocks, bonds and the currency – have had a turbulent 2025 thus far, but only one has failed to weather the storm: the dollar. Hedging may be a major reason why Wall Street's three main indices and the ICE BofA US Treasury index are all slightly higher for the year to date, despite the post-'Liberation Day' volatility, while the dollar has steadily ground lower, losing around 10% of its value against a basket of major currencies and breaking long-standing correlations along the way. The dollar was perhaps primed for a fall. It's easy to forget, but only a few months ago the 'US exceptionalism' narrative was alive and well, and the dollar scaling heights rarely seen in the past two decades. But that narrative has evaporated, as US President Donald Trump's controversial economic policies and isolationist posture on the global stage have made investors reconsider their exposure to US assets. But why is the dollar feeling the burn more than stocks or bonds? Pension fund-amentals Non-US investors often protect themselves against sharp currency fluctuations via the forward, futures or options markets. The difference now is that the risk premium being built into US assets is pushing them – especially equity holders – to hedge their dollar exposure more than they have in the past. Foreign investors have long hedged their bond exposure, with dollar hedge ratios traditionally around 70% to 100%, according to Morgan Stanley, as currency moves can easily wipe out modest bond returns. But non-US equity investors have been much more loath to pay for protection, with dollar hedge ratios averaging between 10% and 30%. This is partly because the dollar was traditionally seen as a 'natural' hedge against stock market exposure, as it would typically rise in 'risk off' periods when stocks fell. The dollar would also normally appreciate when the United States economy and markets were thriving – the so-called 'Dollar Smile' – giving an additional boost to US equity returns in good times. A good barometer of global 'real money' investors' view on the dollar is how willing foreign pension and insurance funds are to hedge their dollar-denominated assets. Recent data on Danish funds' currency hedging is revealing. Danish funds' US asset hedge ratio surged to around 75% from around 65% between February and April. According to Deutsche Bank analysts, that 10 percentage point rise is the largest two-month increase in over a decade. Anecdotal evidence suggests similar shifts are taking place across Scandinavia, the eurozone and Canada, regions where dollar exposure is also high. The US$266bil Ontario Teachers' Pension Plan reported a US$6.9bil foreign currency gain last year, mainly due to the stronger dollar. Unless the fund has increased its hedging ratio this year, it will be sitting on huge foreign currency losses. 'Investors had embraced US exceptionalism and were overweight US assets. But now, investors are increasing their hedging,' says Sophia Drossos, economist and strategist at the hedge fund Point72. And there is a lot of dollar exposure to hedge. At the end of March foreign investors held US$33 trillion of US securities, with US$18.4 trillion in equities and US$14.6 trillion in debt instruments. Riding out the storm The dollar's malaise has upended its traditional relationships with stocks and bonds. Its generally negative correlation with stocks has reversed, as has the usually positive correlation with bonds. The divergence with Treasuries has gained more attention, with the dollar diving as yields have risen. But as Deutsche Bank's George Saravelos notes, the correlation breakdown with stocks is 'very unusual'. When Wall Street has fallen this year the dollar has fallen too, but at a much faster pace. And when Wall Street has risen the dollar has also bounced, but only slightly. This has led to the strongest positive correlation between the dollar and S&P 500 in years, though that's a bit deceptive, as the dollar is sharply down on the year while stocks are mildly stronger. Of course, what we could be seeing is simply a rebalancing. Saravelos estimates that global fixed income and equity managers' dollar exposure was at near record-high levels in the run-up to the recent trade war. This was a 'cyclical' phenomenon over the last couple of years rather than a deep-rooted structural one based on fundamentals, meaning it could be reversed relatively quickly. But, regardless, the dollar's hedging headwind seems likely to persist. 'Given the size of foreign holdings of both stocks and bonds, even a modest uptick in hedge ratios could prove a considerable foreign exchange flow,' Morgan Stanley's foreign exchange strategy team wrote last month. 'As long as uncertainty and volatility persist, we think that hedge ratios are likely to rise as investors ride out the storm.' — Reuters Jamie McGeever is a columnist for Reuters. The views expressed here are the writer's own.
Yahoo
04-06-2025
- Business
- Yahoo
Investors Turn to Defined Outcome ETFs Amid Market Turmoil
It's always good to have a buffer zone. Defined outcome ETFs, characterized by their caps on gains and limits on losses, are becoming important investment tools for advisors looking to mitigate the impact of market downturns on their clients' portfolios. Since its inception in 2018, the defined outcome ETF market has grown to more than $60 billion, despite the product's increased complexity, and the fact that many advisors don't fully understand how the funds work. Still, the US defined outcome market is expected to expand to $650 billion by 2030, according to recent research from BlackRock and Morningstar in December. READ ALSO: Racing to Keep Up With Dual Share Class Applications and Not Taking Single-Stock ETFs for Granite A reason for the recent uptick in popularity is that defined outcome ETFs can be used as alternatives to the standard 60/40 portfolio, according to panelists at ETF Global's annual ETP Forum in New York City. Newer generations of advisors and their clients are also increasingly likely to use buffer ETFs as part of their more modernized portfolio strategies. The BlackRock study found that since 2019, nearly 500 defined outcome ETFs have launched, a trend driven by 'policy and macroeconomic uncertainty, higher market volatility, and demographic shifts, such as the increasing number of retirees globally.' The research also found: Less than 1% of advisors were using outcome ETFs in 2019, compared to more than 10% now. Allocations to the product have also risen 5 percentage points over the past five years. Still, nearly 90% of advisors don't currently use them, according to data that the asset management firm gathered on more than 22,000 advisor models. International Affairs. There's also the importance of international diversification, particularly following President Trump's 'Liberation Day' tariffs and the market turmoil that followed, the experts said. Non-US investing has surged with emerging market investments — and allocations in markets like China — taking the place of more standard S&P 500 products. And while defined outcome ETFs have traditionally been regarded as 'competing' with their traditional counterparts, the two can actually end up complementing each other, they added. This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter. 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
