Category: 3. Business

China’s biopharmaceutical innovation is experiencing an unprecedented period of growth. Thanks to sustained policy support, capital investment, and expanding research capabilities, the country is rapidly increasing its reputation as a global hub of innovation. According to the WHO, in 2024 China ranked second in the world for number of registered clinical trials, and over the past decade, its new pharmaceutical and medical technology patents have nearly quadrupled.

Against this backdrop, the 28th Annual Meeting of the Chinese Society of Clinical Oncology (CSCO) was held this month in Jinan, Shandong Province. As one of the most influential academic platforms in the field, CSCO has become a key venue for showcasing China’s oncology research to the world, and this year’s meeting shined a spotlight on the latest advances in cancer prevention, diagnosis, and treatment across both research and clinical practice.

Partnering with leading experts in oncology, molecular pathology, and drug development, Illumina hosted a special session at the conference that facilitated in-depth exchanges on biomarker applications in solid tumors, cancer drug innovation, and precision medicine in the Guangdong–Hong Kong–Macao Greater Bay Area.

Advances in next-generation sequencing and multiomics

Cancer therapy is undergoing a profound transformation, as subtypes are increasingly defined on a molecular basis rather than on organs or histology. With advances in next-generation sequencing (NGS), researchers can now integrate genomic, transcriptomic, proteomic, and other layers of biological information to achieve a comprehensive view of tumors. Large-scale genomics and multiomics projects are also enriching our understanding of cancer initiation and progression, opening new possibilities for precise tumor classification and translational research.

Professor Zhang Xuchao of Guangdong Provincial People’s Hospital noted that “NGS and multiomics, as core tools in the life sciences, are enabling us to more precisely identify disease drivers and transition from single-target to multi-biomarker-driven approaches. By analyzing diseases at the molecular level, we can trace their evolutionary pathways, identify potential therapeutic targets, and accelerate the translation of scientific discoveries into clinical applications.”

From the frontiers of research to clinical practice

As clinical practice increasingly adopts NGS, improving the accessibility and efficiency of precision oncology remains a top priority for clinicians. Comprehensive genomic profiling (CGP) is a core tool for detecting cancer biomarkers and enabling a thorough analysis of genomic alterations in tumors. It helps identify variants linked to disease progression and drug sensitivity, significantly improving the accuracy of targeted therapy matching.

“China urgently needs breast cancer clinical research that is more tailored to local populations,” said Professor Cao Wenming of Zhejiang Cancer Hospital. “Systematic and highly sensitive genomics testing can guide clinical practice, significantly improve patient outcomes, and open up new therapeutic pathways.”

Professor Song Wei, director of Clinical Genomics and Molecular Pathology at UC San Diego Health, shared, “I’m deeply focused on advancing in-house genomics testing to help pathologists in classifying tumors more rapidly. CGP assays provide streamlined end-to-end workflow and integrated analytics, delivering rapid, high-quality results that meet the dual demands of speed and accuracy for in-house testing. By building local projects and databases, we are also advancing real-world research, using data to enhance both accessibility and clinical value of precision medicine.”

As NGS and multiomics technologies generate large-scale datasets, Illumina is empowering deeper analyses through bioinformatics software and AI. Recently, the UK Biobank identified 1.5 billion variants from nearly 500,000 whole genomes with Illumina software. The dataset was published in Nature and is now openly accessible to pharmaceutical partners worldwide.

Synergy between research and medicine

In China, multiomics, AI, and other advanced tools are increasingly embedded across the cancer care continuum. During a live discussion at the CSCO meeting, Professor Gao Chenyan, leading scientist at Changping Laboratory, emphasized that clinical research is a key driver of innovative drug development and the optimization of treatment pathways. Professor Ma Jun, director of the Harbin Institute of Hematology and Oncology (HIHO), elaborated: “Hematologic tumors are highly heterogeneous. Cutting-edge technologies such as NGS have greatly enhanced our ability to monitor tumor heterogeneity. NGS-based ctDNA assays offer high specificity and sensitivity, making them reliable tools for detecting minimal residual disease in B-cell lymphoma and for assessing treatment response. Driving innovation in cancer diagnosis and treatment requires close collaboration across research, clinical practice, and industry—all for the benefit of patients.”

A “pilot-first” model for innovation

The Guangdong–Hong Kong–Macao Greater Bay Area (GBA) has become an important bridge for introducing innovative diagnostic and therapeutic solutions into mainland China, thanks to a Hong Kong Department of Health measure announced in November 2020. By June 2025, the measure had covered 45 designated hospitals, introduced 51 drugs and 63 devices, and benefited tens of thousands of patients in the GBA.

Kang Wei, former managing director of the R&D-Based Pharmaceutical Association Committee, noted that “China has become an important source of drug innovation, with growing impact in international clinical trials. GBA’s biopharmaceutical industry is uniquely positioned to leverage the measure, offering an open window for applying innovative medical resources. This has attracted leading global partners to explore practical solutions and accelerate the translation of new drugs and devices from bench to bedside.”

Illumina continues to invest in research and clinical solutions to expand advanced tumor profiling and meet diverse biomarker testing needs. In August 2024, the FDA approved TruSight Oncology Comprehensive, the first United States FDA–approved distributable comprehensive genomic profiling in vitro diagnostic with pan-cancer companion diagnostic claims.

Au Siu Kie, a professor at the Hong Kong Integrated Oncology Centre and coauthor of the JCO Precision Oncology paper “Consensus Statements on Precision Oncology in the China Greater Bay Area,” also spoke about how the measure, and expert consensus, are transforming cancer care: “This year, FDA-approved products such as TSO Comprehensive are expected to become available in Hong Kong, expanding access to advanced CGP options for patients.” He added that this broadens the reach of precision medicine and helps improve the affordability of internationally approved therapies under local reimbursement systems, “which ultimately benefits more patients.”

Deepening local innovation

Illumina continues to expand local investment and strengthen customer service and support in China. As of this June, the registration of certain Illumina products by its commercial partner Berry Genomics enabled high-throughput clinical sequencing for applications in genetic disease, reproductive health, and oncology. This year, Illumina also launched its Beijing Customer Engagement Center and its official e-commerce platform on WeChat, creating a full-channel service ecosystem.

Jenny Zheng, global senior vice president and the company’s general manager of Greater China, said: “We will work hand in hand with experts at home and abroad to accelerate translation of scientific discoveries, ensuring that cutting-edge technologies truly benefit patients. As oncology research in China continues to deepen and innovative technologies gain wider adoption, the synergistic development of NGS and multiomics, combined with our localization strategy, will contribute China’s wisdom and solutions to global cancer prevention and treatment.”

• Riyadh Air fulfills 2025 commitment with launch flights to London; Dubai to be added later.
• Daily passenger launch flights to London Heathrow on October 26th mark critical ‘Pathway to Perfect’ go-to-market plan.
• Sfeer launches as Riyadh Air’s community-driven loyalty program, uniquely allowing shareability of membership benefits including Level Points to help friends and family reach higher status and unlock greater rewards.
• Early Sfeer members gain priority access to ticket sales on Riyadh Air’s future flights as well as exclusive experiences.

RIYADH, Saudi Arabia, Oct. 8, 2025 /PRNewswire/ — Riyadh Air, Saudi Arabia’s new national carrier, today reveals two significant milestones as it announces a landmark on its journey towards its 2025 debut: the commencement of its first daily flights to London Heathrow Airport (LHR) on October 26th. Riyadh Air is also proud to unveil Sfeer, its groundbreaking loyalty offering, which will provide exclusive benefits to its early Founding Members through “The Founders”.

Operational Excellence: Paving the Way for a World-Class Airline 

Beginning October 26th, Riyadh Air will commence daily launch flights from Riyadh to London Heathrow Airport (LHR) aboard its designated aircraft, “Jamila”. These carefully sequenced flights, initially on sale to select groups and Riyadh Air employees, are a critical phase in ensuring unparalleled operational readiness while utilizing Riyadh Air’s recently awarded slot at London Heathrow (LHR). Through assessing these initial Jamila flights, the airline builds operational strength for a smooth, reliable, world-class travel experience.

“This isn’t just a launch; it’s a tangible realization of a vision to connect Saudi Arabia to the world, a core pillar of Saudi Vision 2030,” stated Tony Douglas, CEO of Riyadh Air. “Our commitment to begin operations in 2025 is being fulfilled. This rigorous flight program on Jamila allows us to fine-tune every detail, ensuring a seamless, reliable, and world-class experience. This carefully sequenced approach is our pathway to perfect, and we are now incredibly close to full operations as our new aircraft are delivered.”

Sfeer: The Future of Loyalty, Designed for a Generation in Motion 

Sfeer, meaning “Ambassador” in Arabic and blended with the English word “sphere”, embodies the vibrant, generous spirit of Saudi Arabia. As it rolls out, Sfeer is set to become one of the world’s most unique and exciting loyalty programs, seamlessly combining community engagement with gamified experiences, all while unlocking the very best of Saudi.

Uniquely, Sfeer members will be able to share level points within their community. Sfeer membership is now open via www.riyadhair.com, and early joiners will be recognized as ‘The Founders’, who will receive priority access to bookings on future flights.

A cornerstone of Sfeer’s innovation is its community-centric design, allowing members to share points, benefits, and Level Points with friends and family, fostering collective reward. Furthermore, Sfeer proudly offers a “no points expiry” policy, ensuring every point and benefit is enjoyed, not wasted.

“With Sfeer, we’re creating much more than just a loyalty program; we’re building a dynamic, digitally immersive lifestyle ecosystem,” added Douglas. “Our vision is to truly change the game, offering unparalleled benefits and fostering a unique sense of community among our members.”

As ‘The Founders’, early joiners receive priority access to bookings on future flights. All Sfeer members can look forward to complimentary onboard Wi-Fi. Joining Sfeer now allows members to start collecting points and gain exclusive early access to routes and priority booking.

Don’t just travel; be a pioneer. This is an invitation to unlock the best of Saudi Arabia.

Photo – https://mma.prnewswire.com/media/2791645/Riyadh_Air_1.jpg
Photo – https://mma.prnewswire.com/media/2791646/Riyadh_Air_2.jpg

During a Belgian Economic Mission to the West Coast of the USA, today we announced plans to invest over €1 billion in Belgium from 2025-2027. This investment continues Amazon’s commitment to innovation and providing an even better experience to customers through low prices, selection, and convenience, while helping small businesses in Belgium succeed.

This represents our largest investment in Belgium to date, supporting jobs, infrastructure development, and Belgian partnerships including our continued work with bpost, Belgium’s national postal operator. In addition to supporting our Belgian customers, these investments will also help small and medium-sized businesses to expand their reach to customers both in Belgium and internationally, helping them grow their businesses while supporting job creation and economic growth. The announcement builds upon our growing presence in Belgium since opening our first office in 2015 and launching amazon.com.be in 2022. After investing more than €250 million in 2023 and €300 million in 2024, this new announcement accelerates our planned investment in the Belgian economy.

“Our planned investment of more than a billion euros in Belgium will go towards expanding our logistics network, enhancing our delivery capabilities, and strengthening our local infrastructure to better serve Belgian customers,” said Eva Faict, Country Manager for Amazon Belgium and the Netherlands. “Since launching amazon.com.be in October 2022, we’ve helped more than a thousand Belgian businesses reach new customers, created hundreds of local jobs, and worked with local delivery partners. This new investment will allow us to further support Belgian entrepreneurs with our technology and expertise, while continuing to offer customers low prices, wider product selection, and faster delivery options.”

Economic impact and growth

We have invested more than €800 million in Belgium since 2015. We now employ over 400 people across Belgium, from our Belgian headquarters in Brussels including AWS, to our delivery station in Antwerp, and our Mechatronics Research & Development Center in Hamme. In 2024 alone, third-party research by Keystone Strategy^[1] estimates that our investments supported more than 1,000 indirect jobs and 200 induced jobs^[2] in construction, logistics, and professional services.

“Amazon’s investment is a powerful endorsement of our region’s economic strengths. As a government, we are committed to fostering innovation and supporting companies that create sustainable jobs and economic opportunities across our regions. This significant investment demonstrates that our region continues to attract global technology leaders, strengthening our position as a strategic hub for digital commerce in Europe,” said Matthias Diependaele, Minister-President of Flanders.

According to Keystone estimates, Amazon’s investments contributed more than €140 million to Belgium’s GDP in 2024, with more than €350 million to Belgium GDP since 2015.

Supporting Belgian Small and Medium-sized Enterprises

The 2024 Amazon SME Impact Report^[3] shows that Belgian SMEs have achieved remarkable international success through e-commerce, with 90% of businesses selling on Amazon exporting their products internationally. These SMEs generated over €350 million in total export sales in 2023, demonstrating the store’s effectiveness in helping Belgian businesses expand internationally.

“Amazon’s €1 billion investment solidifies Belgium’s role as a leading hub for innovation and digital transformation, driving competitiveness, fostering job creation, and fueling economic growth. Today’s announcement demonstrates the strong potential of e-commerce for businesses of all sizes, with particular promise for Belgian SMEs. We see how this lever can help local entrepreneurs strengthen their market presence and even expand beyond borders, reaching millions of customers across Europe and beyond” said Eléonore Simonet, Belgian Minister for SMEs, Self-Employed and Small Businesses.

Building a more sustainable future

As a co-founder of The Climate Pledge, with the goal of reaching net-zero carbon by 2040 – an ambitious commitment we are actively working towards – Amazon is investing in sustainability across its businesses to drive down carbon emissions. Amazon’s commitment to sustainability takes root in concrete actions, from investing in the National Park Brabantse Wouden’s scientific research and habitat restoration to funding technology solutions that enhance biodiversity monitoring and visitor experience in Belgium’s newest national park with Leuven MindGate. We are decarbonising last-mile deliveries across Belgium, with over 9 out of 10 parcels delivered to customers by electric vans in Antwerp and electric cargo bikes serving Brussels’ Pentagon area. More than 50% of European shipments now come in reduced delivery packaging, such as a paper bag or cardboard envelope, or with no added packaging at all. To help customers in Belgium to make environmentally conscious choices, Amazon has launched the Climate Pledge Friendly programme, which features products that are certified by one or more of over 50 sustainability certifications, and to help customers give products a second life, they can take advantage of Amazon Used, Trade-in programs, and the Fix-it store. These initiatives demonstrate Amazon’s holistic approach to environmental stewardship, combining technological innovation, operational excellence, and customer empowerment to build a more sustainable future.

[1] All investment and economic impact figures have been estimated by Keystone Strategy, an independent macroeconomic consultancy.
[2] Indirect jobs = jobs supported through business-to-business transactions (supply chain)
Induced jobs = jobs supported through consumer spending of direct and indirect employees
[3] 2024 Amazon Small and Medium-sized Impact Report available here.

Although dapagliflozin may reduce death or worsening heart failure (HF) in patients with aortic stenosis (AS) undergoing TAVI, it showed limited improvement in patients’ health status post TAVI, according to a prespecified subanalysis of the DapaTAVI trial published Oct. 6 in JACC. Dapagliflozin may be most relevant in patients with a residual symptomatic burden.

A total of 964 patients from the DapaTAVI study group enrolled between January 2021 and December 2023 were included in this independent, investigator-initiated trial. Clara Bonanad-Lozano, MD, PhD, et al., used the Kansas City Cardiomyopathy Questionnaire (KCCQ) to assess the effect of dapagliflozin on health status post TAVI. Of note, the primary endpoint was the change in KCCQ score from baseline to one year. The mean baseline KCCQ score was 39.9 in the dapagliflozin group and 39.1 in the control arm (p=0.404).

Using an ordinal logistic regression model to analyze the primary endpoint, the authors assessed the change in KCCQ score from baseline to three and 12 months, as well as the effect of dapagliflozin on the composite of death or worsening HF by baseline KCCQ score.

Researchers found no significant differences in change of KCCQ score at three months (odds ratio [OR ], 0.96; p=0.745) or 12 months (OR, 1.03; p=0.819) between the two groups. Additionally, at 12-month follow-up, similar proportions of patients in the dapagliflozin and control groups showed clinically meaningful improvements, with 43.4% vs. 45.4%, respectively, improving by >50 points, highlighting that the clinical benefits of dapagliflozin after TAVI appeared to be similar across the full range of baseline KCCQ scores.

“…Our findings suggest that future trials should consider targeted inclusion criteria, such as patients with persistent congestion, elevated biomarkers or low KCCQ scores after TAVI, to better identify those patients who may benefit symptomatically from SGLT2 inhibition,” write the authors.

In an accompanying editorial comment, Chetan Prakash Huded, MD, FACC, et al., express their belief that “future studies should focus on patients who remain symptomatic after successful TAVR.” “…Only through such a multidisciplinary approach are we likely to fully achieve the fundamental goals of treatment in valvular heart disease – increasing longevity and optimizing health status,” they write.

ARMONK, N.Y., Oct. 8, 2025 /PRNewswire/ — IBM (NYSE: IBM) will hold its quarterly conference call to discuss its third-quarter 2025 financial results on Wednesday, October 22, 2025 at 5:00 p.m. ET. The live webcast of the earnings call can be accessed at www.ibm.com/investor.

Please also visit the investor website for the earnings press release prior to the webcast. A replay, associated charts and prepared remarks will be available after the event.

Media contact:

Timothy Davidson

tfdavids@us.ibm.com

914-844-7847

SOURCE IBM

Ramon Laguarta was not widely known when he became PepsiCo’s chief executive in 2018, a veteran operator who had spent most of his career in Europe. His low profile stood in contrast to his former boss Indra Nooyi, one of few immigrant women atop corporate America and a regular at Davos with a keen eye for public relations.

Laguarta is now in the spotlight, willingly or not. Like Nooyi before him, he is staring down an activist investor agitating for a shake-up of the drinks and snacks powerhouse that owns brands such as Gatorade, Doritos and its namesake Pepsi cola.

The 29-year PepsiCo veteran on Thursday will face investors for the first time since hedge fund Elliott Management went public with a $4bn stake in the company last month, one of its biggest investments.

Thursday’s third-quarter results will be scrutinised for signs of how Laguarta will respond to Elliott’s demands. The earnings presentation is expected to be Laguarta’s last before the deadline for Elliott to wage a proxy contest at the end of November. How he rises to the challenge may determine whether the hedge fund takes that path.

The activist’s 75-page slide presentation asserts that weakening sales and profit margins in PepsiCo’s North American businesses and an unwieldy product portfolio have put it at a disadvantage to rival Coca-Cola and other competitors, wiping away more than $40bn in market capitalisation over the past three years.

“I think he’s going to get a real test here on his leadership and his resolve,” said Kevin Grundy, a senior consumer goods analyst at BNP Paribas.

Elliott’s case against PepsiCo is less dramatic than Nelson Peltz’s demands for Nooyi to engineer a full break-up more than a decade ago. Nooyi, who promoted a lofty agenda of “performance with purpose”, resisted those calls, but after a two-year stand-off agreed to give Peltz’s hedge fund Trian Management a board seat in 2015. A few years later, she left the top job.

Whether Laguarta decides to play peace broker or dig in may yet define the tactics that Elliott decides to deploy. Marc Steinberg, the Elliott portfolio manager leading the PepsiCo investment, last year masterminded one of the most conciliatory campaigns in Elliott’s history, reaching a speedy détente with industrials giant Honeywell after taking a $5bn position. The company has since added Steinberg to its board.

Laguarta, a cheerful 61-year-old Catalan, oversaw the company’s international growth before taking the reins at its headquarters in the New York City suburbs. Since he became chief executive, PepsiCo’s revenue has increased by nearly 40 per cent. He has divested poorly performing brands such as Tropicana and Naked Juice while making more than $10bn in acquisitions, according to data from S&P Capital IQ.

But over the course of his tenure he became overly focused on quarterly earnings, according to several former executives. He has struggled to sell colleagues and investors on his vision of how to respond to changing consumer habits, such as the impact of weight-loss drugs on taste preferences, rattling the wider consumer sector, the executives said.

He has rankled some of his senior colleagues, in particular by involving his wife Maria in corporate affairs, including strategy meetings and retreats on several occasions, according to people familiar with the matter. His wife also played a role in promoting PepsiCo’s culinary initiatives, which explained how its products could be used in home recipes.

Laguarta has acknowledged a need for a turnaround and has taken steps that include shuttering two snack manufacturing plants to adjust to shrinking US demand.

“Under Ramon’s leadership, PepsiCo has taken a series of steps to best position the company for the long term,” the company said in a statement, pointing to cost-cutting efforts, investments in core brands such as Gatorade and Walkers crisps and the growth of the international business, which has averaged 10 per cent annual growth over the past five years.

“Maria is passionate about PepsiCo and our products, and is an advocate for the culinary aspects of our portfolio,” the company added.

Elliott expressed its “deep respect for the company and its leaders” in a letter to PepsiCo’s board last month, but said investors were sceptical of the company’s prospects. Charts in Elliott’s presentation show how PepsiCo has been outpaced by rivals Coca-Cola and Procter & Gamble, set roughly over the timeline of Laguarta’s seven-year tenure.

The hedge fund also called for better corporate oversight and accountability, hinting at the appetite for a board refresh. Elliott declined to comment.

The first part of Laguarta’s reign looked good. Consumers binged on PepsiCo’s fizzy drinks and snacks while locked down during the Covid-19 pandemic, and the soaring price inflation that followed drove its market capitalisation to an all-time high of more than $260bn in 2023 — tantalisingly close to surpassing Coca-Cola’s market value.

But by the end of 2023 the momentum came out of the business as snack and drinks sales in North America began to decline, as higher prices finally drove away some consumers.

Now PepsiCo is valued at $90bn less than its rival. Elliott draws brutal comparisons to Coca-Cola, highlighting PepsiCo’s relentless soda sales declines. Elliott pinpoints Coca-Cola’s decision to farm out beverage bottling to independent companies as key to its continued success, and argues PepsiCo should do the same with its mostly in-house North American bottling system.

Elliott also called for PepsiCo to sell off legacy food brands that it contends no longer fit its snack-heavy portfolio, such as Pearl Milling baking mixes and syrups, and breakfast cereals such as Cap’n Crunch. Proceeds could be reinvested in acquisitions of high-end or healthy snacking brands, Elliott added.

PepsiCo added in its statement that Laguarta has “repositioned the portfolio” through acquisitions, including of prebiotic soda company Poppi and healthy tortilla chips brand Siete Foods.

Some PepsiCo investors have endorsed Elliott’s ideas, but questioned whether they differ from changes already under way inside the company. “I appreciate Elliott’s suggestions as they correspond with many of the ideas the current management has,” said Kai Lehmann of Flossbach von Storch, a large PepsiCo shareholder. Still, he said the company “needs a greater sense of urgency as PepsiCo risks falling behind”.

In a statement last month, the company said it was reviewing Elliott’s proposals as it “maintains an active and productive dialogue with our shareholders”. A former executive close to Laguarta said the company’s previous experience with activism may mean it is better prepared this time around. “They didn’t pick an easy target,” said the person.

From 1 January 2026, new SOLAS requirements for shipboard lifting appliances enter into force under Regulation II-1/3-13 (Resolution MSC.532(107)). If you operate cargo cranes, stores cranes, engine-room cranes, hose-handling gear or similar equipment, these changes affect your surveys, documentation, and day-to-day operations. 

These amendments introduce significant obligations for shipowners, operators, and technical managers, with direct implications for compliance, certification and the safe operation of lifting equipment on board vessels. 

During this session, LR experts will show you exactly what changes, who’s affected, and how to get compliant on time so that you can pass your first renewal survey after the deadline with confidence.  

Date: 18 November 2025
Time: 11:30 – 13:30 CET

During this session, you’ll learn: 

• Exactly how Reg. II-1/3-13 impacts your fleet by equipment type. 
• The evidence pack surveyors expect at renewal: certificates, test records, SWL markings, manuals. Lloyd’s Register 
• How LR CLAME and other acceptable standards can demonstrate compliance.  
• Practical steps to close gaps now, without disrupting operations. 
• Live Q&A: bring your cases and questions.