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  • Pre-Budget shopper ‘jitters’ dampen Black Friday sales

    Pre-Budget shopper ‘jitters’ dampen Black Friday sales

    Pre-Budget “jitters” among shoppers dampened a much-needed Black Friday boost for retailers, figures show.

    Total retail sales across the UK increased by 1.4% year on year in November – the weakest growth in six months despite elevated inflation, according to the British Retail Consortium (BRC) and KPMG.

    Food sales were up 3%, but even this was below the 12-month average growth of 3.6%.

    (BRC)

    Sales of products other than food increased by just 0.1% year on year, again below the 12-month average of 1.6%.

    Online non-food sales increased by 0.5% against a decline of 10.3% last November, and below the average across the year of 2.5%.

    Homeware and upholstery sold well as households prepared to host over the festive season, while fashion sales lagged as the mild first half of November dampened demand for winterwear.

    BRC chief executive Helen Dickinson said: “Pre-Budget jitters among shoppers meant the month of Black Friday did not deliver as strongly as retailers had hoped or the economy needed.

    “It has been a difficult year as retailers grappled with ever-rising cost pressures.

    “Looking ahead to 2026, it is time public policy started prioritising measures to revive consumer confidence and keep costs of doing business down so retailers can focus on growth strategies to maximise their contribution to economic recovery.”

    Linda Ellett, UK head of consumer, retail and leisure markets at KPMG, said: “November delivered some growth in retail sales, but many retailers will be disappointed that Black Friday period promotions failed to deliver the bigger boost that they were hoping for.

    “While the likes of computing and household appliances outperformed Black Friday week last year, total non-food sales growth across all categories was minimal overall.

    “Rising household costs and nervousness about the economy continue to impact discretionary buying.

    “But retailers will be hoping that Budget clarity has now provided more certainty for consumers about their ability to spend in the months ahead.”

    Separate figures from Barclays show consumer card spending fell 1.1% year-on-year in November – the greatest fall recorded since February 2021.

    The bank said overall retail spending dipped 1.1%, but retailers still enjoyed their busiest day of the year so far on Black Friday, with transaction volumes up 62.5% in comparison to the average day in 2025.

    Travel agents also enjoyed a Black Friday boost, up 10.7%, while streaming and subscriptions increased 3.5% thanks to hit shows such as Stranger Things and Pluribus.

    However pub spending slowed by 1.5%, with 42% of those aged 18 to 34 opting for alcohol-free drinks and 40% for alcohol-free activities.

    Consumer and economic confidence remained at 22% in November, on a par with October, while UK adults’ confidence in their household finances improved marginally from 63% to 64% – although this remains below 2025’s 70% average.

    Jack Meaning, chief UK economist at Barclays, said: “Even with a boost from Black Friday, consumer spending remained muted as we moved through the final quarter of the year.

    “2025 has been defined by this economic deceleration.

    “The question remains as to whether easing interest rates and falling inflation can offset this trend and spur a rebound in consumer spending, or whether tightening fiscal policy and continued uncertainty will see the malaise continue in 2026.”

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  • Innovent Announces PECONDLE® (Picankibart Injection) Phase 3 Study (CLEAR-2) Meets Endpoints, Delivering Superior Long-Term Management Solution for Moderate-to-Severe Psoriasis

    SAN FRANCISCO and SUZHOU, China, Dec. 8, 2025 /PRNewswire/ — Innovent Biologics, Inc. (“Innovent”) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncologic, autoimmune, cardiovascular and metabolic, ophthalmologic and other major diseases, announces that that PECONDLE® (picankibart injection, R&D code: IBI112), its self-developed recombinant anti-interleukin-23p19 subunit monoclonal antibody, achieved both primary and key secondary efficacy endpoints in the Phase 3 CLEAR-2 study – a randomized withdrawal and retreatment clinical trial in Chinese participants with moderate-to-severe plaque psoriasis. As the first China-developed IL-23p19 monoclonal antibody, PECONDLE® received market approval from the National Medical Products Administration (NMPA) in November 2025 for the treatment of adult patients with moderate-to-severe plaque psoriasis who are candidates for systemic therapy.

    This study (NCT06049810) is a prospective, multicenter, randomized, double-blind, placebo-controlled Phase 3 trial using a randomized withdrawal and retreatment design. It aims to evaluate the efficacy of subcutaneous picankibart in participants with moderate-to-severe plaque psoriasis during maintenance treatment and after withdrawal, following achievement of treatment targets. A total of 566 participants were enrolled and all received picankibart treatment through Week 32. Those who achieved ≥90% improvement in Psoriasis Area Severity Index (PASI 90) at Week 32 were re-randomized either to a maintenance group receiving picankibart 100 mg or 200 mg, or to a withdrawal group receiving placebo. The primary endpoint was the proportion of participants who maintained a PASI 90 response at Week 56. This endpoint objectively quantifies sustained high-level lesion clearance during long-term therapy, establishing a validated measure for efficacy durability and maintenance regimen superiority.

    The primary endpoint was met, demonstrating that quarterly dosing of picankibart sustained long-term efficacy superiority

    At Week 56, the proportions of participants maintaining PASI 90 response were 89.3% in the 100 mg group and 90.1% in the 200 mg group for picankibart maintenance treatment, both significantly higher than the corresponding withdrawal groups (37.7% and 51.7%, respectively; P < 0.0001 for both). These robust data demonstrate that quarterly dosing of picankibart provides sustained and reliable superior efficacy compared to treatment withdrawal.

    All key secondary endpoints were met, with picankibart delivering comprehensive improvements in both skin clearance and quality of life

    All secondary efficacy endpoints were successfully met, with significantly higher proportions of participants in the 100 mg and 200 mg picankibart maintenance groups versus the corresponding withdrawal groups achieving PASI 75, PASI 100 (complete skin clearance), sPGA score of 0 or 1, sPGA score of 0 (clear skin), and DLQI score 0/1 (dermatology life quality index) at Week 56 (P < 0.0001 for all comparisons). These results demonstrate that quarterly dosing of picankibart provides comprehensive and durable clinical benefits.

    Picankibart demonstrates durable efficacy post-withdrawal and significantly reduces relapse risk with maintenance treatment

    At Week 56, PASI 90 response was maintained in both 100 mg and 200 mg maintenance groups, whereas the corresponding withdrawal groups exhibited median efficacy durability of 20.4 weeks and 24.6 weeks (32.4 weeks and 36.6 weeks post-last dose of picankibart), respectively. Maintenance treatment with picankibart 100 mg and 200 mg significantly reduced the risk of losing PASI 90 response compared with the corresponding withdrawal groups (P < 0.0001). As indicated by the primary endpoint, nearly half of the participants in withdrawal groups still maintained skin clearance (PASI 90) even after 24 weeks of treatment discontinuation, confirming picankibart’s disease-modifying effect in achieving deep skin clearance for moderate-to-severe psoriasis.

    Picankibart demonstrated a favorable safety profile with no new safety signals identified

    Throughout the study, picankibart maintained a consistent safety profile, with no new safety signals observed compared to previous clinical trials.

    Professor Shi Yuling, the Principal Investigator of the Clinical Study, Shanghai Skin Disease Hospital, stated, “Existing evidence confirms that IL-23p19 antibodies offer sustained long-term efficacy and superior treatment convenience in psoriasis management. The CLEAR-2 study—China’s first randomized withdrawal and retreatment trial of a domestically developed IL-23p19 inhibitor (picankibart)—provides critical insight into the necessity of maintenance therapy, the durability of post-withdrawal, and effective retreatment strategies. We’re are greatly encouraged by its success in achieving both primary and secondary endpoints, which underscores picankibart’s exceptional long-term stability during maintenance therapy and its outstanding sustained response following treatment discontinuation. These results offer crucial assurance for chronic patients with chronic disease while empowering clinicians with evidence-based guidance to optimize long-term management.”

    Dr. Lei Qian, the Chief R&D Officer of General Biomedicine from Innovent Biologics, stated, “PECONDLE®’s successful Phase 3 CLEAR-2 results validate its core advantages as a next-generation IL-23p19 inhibitor: achieving deep, durable remission through quarterly dosing, coupled with favorable safety and significant quality-of-life improvements. As China’s first self-developed IL-23p19 biologic, these breakthrough findings enable us to deliver convenient, patient-friendly treatment options with verified efficacy for moderate-to-severe cases. We’ll continue exploring indication expansion through comprehensive lifecycle management, maximizing clinical value while addressing unmet needs such as treatment resistance.”

    About Psoriasis

    Psoriasis is a chronic, recurrent, inflammatory and systemic disease induced by genetic and environmental factors, affecting individuals of all ages and genders. It typically presents as scaly erythema or plaques, with non-infections, localized or widespread distribution. As a life-long noninfectious condition, psoriasis is notoriously difficult to treat. The disease can be categorized into psoriasis vulgaris (including guttate psoriasis and plaque psoriasis), pustular psoriasis, erythrodermic psoriasis and arthropathic psoriasis. Approximately 80%~90% of patients have plaque psoriasis, with nearly 30% of the cases being moderate-to-severe. Global psoriasis prevalence varies significantly, with over 7 million patients in China alone. Current systemic treatments in China include methotrexate (MTX), cyclosporine A, retinoic acids, small molecule target agents and biological agents. Since 2019, biologics have become a central focus in psoriasis treatment, with IL-23 inhibitors standing out due to their rapid onset, robust efficacy, good safety, and long-lasting effects, which are more advantageous in comprehensive and deep lesion clearance and prolonging relapse-free periods. 

    About PECONDLE® (Picankibart Injection)

    PECONDLE® (picankibart injection) is a monoclonal antibody independently developed by Innovent with proprietary intellectual property rights. This product specifically targets the IL-23p19 subunit, preventing IL-23 from binding to cell surface receptors. Picankibart has the potential to offer a more effective treatment option for patients with psoriasis, ulcerative colitis or other autoimmune diseases.

    PECONDLE® (picankibart injection) is approved by the NMPA of China for the treatment of moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy.

    Currently, multiple clinical studies of picankibart are underway, including:

    • Phase 3 study conducted in patients with moderate-to-severe plaque psoriasis (CLEAR-1);
    • Phase 3 study conducted in patients with moderate-to-severe plaque psoriasis with randomized withdrawal;
    • Phase 3 study in patients with moderate-to-severe plaque psoriasis who were previously treated with biologics;
    • Phase 2 study in patients with moderate-to-severe active ulcerative colitis;

    Except for the ongoing CLEAR-3 study, all other studies have met their primary endpoints.

    In addition, new clinical studies of picankibart in the treatment of adolescent psoriasis and adult psoriatic arthritis are initiated.

    About Innovent

    Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 17 products in the market. It has 1 new drug applications under regulatory review, 4 assets in Phase III or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Takeda, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

    Guided by the motto, “Start with Integrity, Succeed through Action,” Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

    Statement:Innovent does not recommend the use of any unapproved drug (s)/indication (s).

    Forward-Looking Statement

    This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

    These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent’s competitive environment and political, economic, legal and social conditions.

    Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.

    SOURCE Innovent Biologics

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  • DeepSeek founder Liang Wenfeng, “Deep Diver” Du Mengran named to Nature’s influential 2025 list

    DeepSeek founder Liang Wenfeng, “Deep Diver” Du Mengran named to Nature’s influential 2025 list

    Liang Wenfeng, founder of the Chinese AI firm DeepSeek, and “Deep diver” Chinese geoscientist Du Mengran have been selected for the journal Nature’s annual “Nature’s 10” list, which highlights ten people at the heart of some of the biggest…

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  • WWE Raw live updates, results, grades as AJ Styles, Dragon Lee defend world tag team titles vs. Viking Raiders

    WWE Raw live updates, results, grades as AJ Styles, Dragon Lee defend world tag team titles vs. Viking Raiders

    Since winning the world tag team titles, AJ Styles and Dragon Lee have vowed to be fighting champions. The champs look to stay true to their word on Monday’s episode of WWE Raw when they defend their titles against The Viking…

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  • Researchers Detect Seasonal Pulses In Glaciers Using Satellites

    Researchers Detect Seasonal Pulses In Glaciers Using Satellites

    Researchers at NASA’s Jet Propulsion Laboratory (JPL) have mapped the seasonal pulses from glaciers around the world. With this new mapping, they can uncover how glaciers respond to seasonal warming.

    Observing The Seasonal Pulses Of Glaciers…

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  • Quantum dots doped with manganese show new magnetic capabilities

    Quantum dots doped with manganese show new magnetic capabilities

    Quantum dots may soon unlock new possibilities in lighting, computing, and medical imaging after a major breakthrough from researchers at the University of Oklahoma.

    The team has figured out how to magnetize these tiny semiconductor crystals…

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  • Scientists Just Developed a Lasting Vaccine to Prevent Deadly Allergic Reactions

    Scientists Just Developed a Lasting Vaccine to Prevent Deadly Allergic Reactions

    ‘Tis the season for overindulgence. But for people with allergies, holiday feasting can be strewn with landmines.

    Over three million people worldwide tiptoe around a food allergy. Even more experience watery eyes, runny noses, and uncontrollable…

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  • Trump gives Nvidia the OK to sell advanced AI chips to China

    Trump gives Nvidia the OK to sell advanced AI chips to China

    US President Donald Trump has announced that he will allow AI chip giant Nvidia to sell its advanced H200 chips to “approved customers” in China.

    “We will protect National Security, create American Jobs, and keep America’s lead in AI,” Trump said on social media on Monday.

    The decision will apply to other US chip companies like AMD and comes after extensive lobbying by Nvidia boss Jensen Huang, who visited Washington last week to drum up support.

    Nvidia – both the world’s leading chip firm and most valuable company – has found itself at the centre of a geopolitical tug-of-war between the US and China in recent months, and had been banned from selling its most advanced chips to Beijing.

    Trump reversed the chip-selling ban in July, but demanded that Nvidia pay 15% of its Chinese revenues to the US government.

    Beijing then reportedly ordered its tech companies to stop buying Nvidia chips manufactured for use in the Chinese market.

    “We applaud President Trump’s decision to allow America’s chip industry to compete to support high paying jobs and manufacturing in America,” Nvidia said in a statement provided to BBC News.

    Mr Huang told the BBC in September that the US needed “to make sure that people can access this technology from all over the world, including China.”

    He has also repeatedly warned that China, which has cultivated a chip production ecosystem of its own, was close behind the US in chip development.

    Nvidia hailed Trump’s announcement on Monday.

    “Offering H200 to approved commercial customers, vetted by the Department of Commerce, strikes a thoughtful balance that is great for America,” Nvidia said in its statement.

    The companies shares rose slightly on the news.

    Trump said “$25% [sic] will be paid to the United States of America” in his post.

    The BBC has reached out to the White House for clarification on the arrangement, which will likely face opposition from national security hawks in Congress.

    Researchers at Georgetown University’s Center for Security and Emerging Technology (CSET) said China’s People’s Liberation Army is using advanced chips designed by US companies to develop AI-enabled military capabilities.

    “By making it easier for the Chinese to access these high-quality AI chips, you enable China to more easily use and deploy AI system for military applications,” said Cole McFaul, senior research analyst at CSET. “They want to harness advanced chips for battlefield advantage.”

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  • MikeCheck: Grizzlies hit season pit stop fueled by improved defense, NBA-best depth – NBA

    MikeCheck: Grizzlies hit season pit stop fueled by improved defense, NBA-best depth – NBA

    1. MikeCheck: Grizzlies hit season pit stop fueled by improved defense, NBA-best depth  NBA
    2. Grizzlies’ Zach Edey is leveling up: Is the second-year big man on his way to NBA stardom?  Yahoo Sports
    3. The switch Memphis just flipped could change…

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