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OPEC OPEC (Organization of the Petroleum Exporting Countries) is a group of 13 major oil-exporting nations, including Saudi Arabia, Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates, Venezuela and Indonesia. The mission of the organization is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. OPEC works to ensure the stability of global oil prices and promote the development of economic and social projects in member countries. OPEC also works to reduce global dependence on oil and promote the use of alternative energy sources.
Sun Pharmaceutical Industries Ltd. announced the acquisition of Concert Pharmaceuticals, Inc., a U.S.-based late-stage clinical biopharmaceutical company with an extensive patent portfolio, including the potential treatment of Alopecia Areata, an autoimmune hair loss disease.
Sun Pharmaceutical Industries Ltd. adds Deuroxolitinib, a potential best-in-class JAK inhibitor, to its specialty portfolio through the acquisition of Concert Pharma Inc. Deuroxolitnib has shown a better Severity of Alopecia Tool score compared to peers, providing confidence on the potential of the product post regulatory approval. The deal further enhances specialty offerings by Sun Pharma in the dermatology space. The development potential of concert synergises with marketing capabilities of Sun Pharma,
Sun Pharmaceutical Industries announced its plans to acquire Concert Pharma, a late-stage clinical biopharmaceutical company. Sun Pharma gets access to key pipeline molecule, deuruxolitinib (JAK inhibitor), which has shown best in class efficacy for the treatment of Alopecia Areata. USFDA Cross trial comparison suggests that efficacy data of Concert Pharma’s drug, deuruxolitinib, is superior. Sun Pharma will pay an upfront cash payment of $8 per share of common stock amounting to $576 mn and will be liable to pay contingent value right
The acquisition, Sun Pharma said, is aimed at accessing Concert’s experimental drug—Deuruxolitinib--a potential treatment of Alopecia Areata, a skin disease causing partial or complete loss of hair on the scalp and body.
There will be no shortage of potential market moving events this week! After the Bank of Canada hiked rates by 25bps and signaled a pause in its rate hike cycle last week, the FOMC, BOE, and ECB, will each get their own shot at deciding what to do with monetary policy. The FOMC is expected […]