Category: 3. Business

KARACHI:

Gold prices in Pakistan declined sharply on Tuesday, tracking losses in the international bullion market amid profit-taking following a strong year-end rally.

In the local market, the price of gold per tola dropped by Rs10,700 to settle at Rs459,462, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold fell by Rs9,174 to Rs393,914. Silver prices also came under pressure in the local market, with the price per tola falling by Rs145 to Rs7,930. Despite the day’s correction, silver has remained one of the strongest-performing assets this year, reflecting exceptional gains in international markets.

Internationally, precious metals rebounded late Tuesday after suffering sharp losses in the previous session, as investors refocused on geopolitical tensions and broader economic risks. According to Reuters, spot gold rose 0.9% to $4,369.59 per ounce by late afternoon, after recording its biggest single-day percentage decline since October 21 on Monday. The metal had touched a record high of $4,549.71 last week before retreating on profit-taking.

Silver, meanwhile, hit an all-time high of $83.62 per ounce on Monday, marking a surge of around 161% during 2025, before easing back. Platinum and palladium also showed signs of recovery after suffering record declines earlier.

Market participants are closely watching the release of the US Federal Reserve’s December meeting minutes, due at 1900 GMT, for clues on the future path of interest rates, which could influence precious metals prices.

Adnan Agar, Director at Interactive Commodities, said the market appeared relatively stable after recent turbulence.

Agar added that while prices have bounced back modestly, some pressure remains unless gold and silver move decisively towards their recent highs. He also pointed out that international markets are likely to remain subdued in the coming days due to the New Year holiday. “Volatility may persist until around January 10 to 15. After that, markets are expected to cool down. The one-way rally seen in December is unlikely to continue; instead, prices may move both up and down, but with greater stability,” he said.

Meanwhile, the rupee edged up slightly against the US dollar in the inter-bank market on Monday, closing at 280.16, continuing its modest weekly gain from 280.25 to 280.17, according to the State Bank of Pakistan (SBP).

WASHINGTON, Dec. 30, 2025 /PRNewswire/ — Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced that the U.S. Food and Drug Administration (FDA) has approved NEREUS™ (tradipitant), an oral neurokinin-1 (NK-1) receptor antagonist, for the prevention of vomiting induced by motion. This approval marks the first new pharmacologic treatment in motion sickness in over four decades, representing a significant advancement in the understanding and management of this debilitating physiologic response that affects a substantial portion of the population and has long been recognized as a factor affecting military operational readiness.

“This approval underscores the strong scientific evidence in the antiemetic effects of NEREUS™ in motion sickness,” said Mihael H. Polymeropoulos, M.D., President, CEO and Chairman of the Board of Vanda Pharmaceuticals. “For the first time in over 40 years, patients have access to a novel therapy grounded in modern neuropharmacology, offering effective prevention without the limitations of existing options. We are proud of this historic milestone and grateful to the Vanda researchers, patients, investigators, and regulators who contributed to this achievement.”

The efficacy of NEREUS™ is supported by robust data from three pivotal clinical trials—two Phase 3 real-world provocation studies conducted on boats (Motion Syros and Motion Serifos) and one additional supporting study—with participants who had documented histories of motion sickness. In Motion Syros (n=365), vomiting incidence was 18.3–19.5% with NEREUS™ versus 44.3% with placebo (p<0.0001).¹ In Motion Serifos (n=316), vomiting rates were 10.4–18.3% with NEREUS™ versus 37.7% with placebo (p≤0.0014), representing risk reductions of over 50–70%.² Across the pivotal program, NEREUS™ consistently demonstrated significant reductions in vomiting and a favorable safety profile consistent with acute use.

Motion sickness has been recognized as a critical factor in military operations since World War II, most notably during the D-Day invasion of Normandy in 1944, where severe seasickness impaired the effectiveness of troops, including paratroopers of the 101st Airborne Division deployed in rough Channel crossings and airborne drops. The condition was elevated to a strategic imperative, prompting early research into antiemetic therapies to ensure operational readiness during large-scale troop deployments by sea, air, and land.

Today, motion sickness remains prevalent in civilian life, with approximately 25–30% of adults³—roughly 65–78 million people in the U.S.—experiencing symptoms during common travel modes such as cars, planes, or boats. Globally, up to one-third of individuals are highly susceptible.⁴ While most cases are mild, an estimated 5–15% of the population experiences severe, recurrent symptoms that can significantly impact quality of life. This severe segment comprises two key groups: those whose illness is inadequately controlled by existing therapeutic options, leaving them with persistent debilitating symptoms despite treatment, and those whose illness is so severe that it leads to avoidance of engaging in motion-provoking activities altogether, resulting in altered travel plans, missed opportunities, or complete abstention from certain modes of transportation or experiences. Tens of millions seek pharmacologic treatment annually, primarily through over-the-counter options, though many patients opt for prescription therapies when escalating care. Motion sickness arises from a sensory conflict between visual, vestibular, and proprioceptive inputs, triggering the release of substance P and activation of NK-1 receptors in the central nervous system, leading to nausea and vomiting. NEREUS™’s mechanism of action—potent and selective antagonism of NK-1 receptors—directly addresses this pathway.

The approval of NEREUS™ for the prevention of vomiting induced by motion validates its pharmacological profile and paves the way for further exploration of NK-1 antagonism in related vomit-inducing conditions. Vanda is advancing tradipitant in clinical development for gastroparesis, a chronic disorder characterized by delayed gastric emptying and persistent nausea/vomiting, as well as for the prevention of nausea and vomiting induced by GLP-1 receptor agonists—a common side effect impacting adherence in the rapidly growing obesity and diabetes treatment landscape. 

Vanda anticipates launching NEREUS™ for the prevention of vomiting induced by motion in the coming months and remains committed to expanding its therapeutic potential across indications driven by substance P-mediated pathways.

References

1. Polymeropoulos VM, Kiely L, Bushman ML, Sutherland EB, Goldberg AR, Pham AX, Miller CR, Mourad R, Davis TR, Pham NV, Morgan DB, Giles AK, Xiao C, Polymeropoulos CM, Birznieks G, Polymeropoulos MH. Motion Syros: tradipitant effective in the treatment of motion sickness; a multicenter, randomized, double-blind, placebo-controlled study. Front Neurol. 2025 Mar 4;16:1550670. doi: 10.3389/fneur.2025.1550670. PMID: 40103934; PMCID: PMC11913704, available here.
2. Vanda Pharmaceuticals Inc., “Vanda Pharmaceuticals Reports Positive Results from a Second Phase III Study of Tradipitant in Motion Sickness” [Press Release], May 16, 2024, available here.
3. Turner M, Griffin MJ. Motion sickness in public road transport: passenger behavior and susceptibility. Ergonomics. 1999: 42: 444-461, available here.
4. Golding, J. F. (2016). “Motion sickness”. Neuro-Otology. Handbook of Clinical Neurology. Vol. 137. pp. 371–390. doi:10.1016/B978-0-444-63437-5.00027-3. ISBN 978-0-444-63437-5. ISSN 0072-9752. PMID 27638085, available here.

About Vanda Pharmaceuticals Inc.

Vanda is a leading global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com and follow us on X @vandapharma.

About NEREUS™

NEREUS™ (tradipitant) is a neurokinin-1 receptor antagonist licensed by Vanda from Eli Lilly and Company. NEREUS™ is approved for the acute prevention of vomiting induced by motion in adults, and is currently in clinical development for a variety of indications, including gastroparesis and the prevention of nausea and vomiting induced by GLP-1 receptor agonists.

INDICATION AND IMPORTANT SAFETY INFORMATION

Indication

NEREUS™ is a substance P/neurokinin-1 (NK-1) receptor antagonist indicated for the prevention of vomiting induced by motion in adults.

Important Safety Information

In placebo-controlled clinical trials, somnolence (6%, 12%) and fatigue (6%, 8%) were adverse reactions reported in subjects who took a single dose of 85 mg or 170 mg NEREUS™, respectively. NEREUS™ may impair the mental and/or physical abilities required for driving a motor vehicle or operating heavy machinery. Concomitant use of other drugs that cause central nervous system depression and strong CYP3A4 inhibitors may increase this effect. If concomitant use is unavoidable, warn patients against driving and other activities requiring complete mental alertness.

Available data from clinical trials with NEREUS™ use in pregnant women are insufficient to inform a drug-associated risk of major birth defects, miscarriage, or other adverse maternal or fetal outcomes.

Lactation studies have not been conducted to assess the presence of tradipitant or its metabolites in human milk, the effects on the breastfed infant, or the effects on milk production. Tradipitant has been found to be present in rat milk. When a drug is present in animal milk, it is likely that the drug will be present in human milk. Monitor breastfed infants for somnolence.

The safety and effectiveness of NEREUS™ have not been established in pediatric patients. 

Tradipitant has not been studied in subjects with severe renal impairment (eGFR ≤ 29 mL/min/1.73m2). Avoid use of NEREUS™ in patients with severe renal impairment.

Tradipitant has not been studied in patients with any degree of hepatic impairment (Child-Pugh Class A to C). Avoid NEREUS™ in patients with mild, moderate, or severe hepatic impairment.

CONTRAINDICATIONS

None.

DRUG INTERACTIONS

Tradipitant is a CYP3A4 substrate. Strong CYP3A4 inhibitors may increase tradipitant exposure, which may increase the risk of adverse reactions to NEREUS™.

Full Nereus™ Prescribing Information can be found at: https://www.nereus.us.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Various statements in this press release, including, but not limited to statements regarding patient access to NEREUS™, the prevalence of motion sickness, Vanda’s further clinical development plans for NEREUS™, Vanda’s commercial launch plans for NEREUS™ and the timing thereof, and Vanda’s plans to expand the therapeutic potential of NEREUS™ across additional indications driven by substance P-mediated pathways are “forward-looking statements” under the securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are based upon current expectations and assumptions that involve risks, changes in circumstances and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Vanda’s forward-looking statements include, among others, Vanda’s ability to successfully execute the commercial launch of NEREUS™ in the coming months, the accuracy of the estimates of the prevalence of motion sickness, Vanda’s ability to continue to advance tradipitant in gastroparesis and the prevention of nausea and vomiting induced by GLP-1 receptor agonists, and Vanda’s ability to develop NEREUS™ as a safe and effective treatment for additional indications driven by substance P-mediated pathways. Therefore, no assurance can be given that the results or developments anticipated by Vanda will be realized, or even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Forward-looking statements in this press release should be evaluated together with the various risks and uncertainties that affect Vanda’s business and market, particularly those identified in the “Cautionary Note Regarding Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Vanda’s most recent Annual Report on Form 10-K, as updated by Vanda’s subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov.

All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this press release is provided only as of the date of this press release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Corporate Contact:
Kevin Moran
Senior Vice President, Chief Financial Officer and Treasurer
Vanda Pharmaceuticals Inc.
202-734-3400
[email protected]

Jim Golden / Jack Kelleher / Dan Moore
Collected Strategies
[email protected]

SOURCE Vanda Pharmaceuticals Inc.

Iron ore futures prices declined on Tuesday, as increased shipments from major suppliers Australia and Brazil weighed on sentiment, although lingering hopes of steelmakers in top consumer China restocking cargoes limited the loss.

The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! closed trade 0.44% lower at 789 yuan ($112.86) a metric ton. The contract touched its highest level since December 3 on Monday.

The benchmark January iron ore (SZZFF6) on the Singapore Exchange was 0.17% lower at $105.65 a ton by 0717 GMT. It hit its highest level since November 27 at $106.55 in Monday’s session.

Iron ore shipments from Australia and Brazil, the world’s two-largest suppliers, rose 8.6% week-on-week during December 22-28, data from consultancy Mysteel showed.

Chinese steel mills are expected to book more cargoes in the coming weeks to meet production needs over the week-long Lunar New Year holiday break in February, said analysts.

Meanwhile, Chinese developer Vanke’s 000002 bondholders approved its proposal to extend the grace period for the repayment of a 3.7 billion yuan bond, temporarily removing a default risk.

The property market was the largest steel consumer in China, but protracted woes in the sector hit steel consumption, weighing on prices of steel and the feedstocks.

Other steelmaking ingredients on the DCE gained ground, with coking coal NYMEX:ACT1! and coke (DCJcv1) up 0.99% and 0.44%, respectively.

Steel benchmarks on the Shanghai Futures Exchange moved sideways. Rebar RBF1! lost 0.1% and hot-rolled coil EHR1! nudged down 0.33%. Stainless steel HRC1! firmed 1.28% and wire rod gained 0.32%.
Source: Reuters

HAYWARD, CA — The U.S. Postal Service is hosting several free hiring events to help future employees create their online profile and immediately start applying for jobs.

As part our innovative 10-year-plan, Delivering for America, the Postal Service is focused on building a more stable and empowered workforce. Our employees are our greatest asset, and we are investing in our new employees by providing robust training and on-the-job support.

If you enjoy taking walks, breathing in fresh air, and serving your community, the Postal Service is a great place to work, with job security, career advancement opportunities and benefits. The Postal Service has an immediate need for the following positions to be filled:

• Mail Processing: Clerks and Mail Handlers
• Delivery: City and Rural Carriers
• Transportation: Tractor Trailer Operators
• Maintenance: Mechanics, Laborer Custodian and Automotive Technician

A complete list of job fair locations can be found here.

Applicants must be 18 years or older. All applicants must be able to pass drug screening and a criminal background investigation. Some positions require an exam. Any position that has a driving requirement will also require a valid driver license and clean DMV two-year driving history. Citizenship or permanent resident status is required.

The Postal Service is an equal opportunity employer offering a fast-pace, rewarding work environment with competitive compensation packages, on-the-job training, and opportunities for advancement.

# # #

Reuters

MENLO PARK, Calif., Dec. 30, 2025 (GLOBE NEWSWIRE) — PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will be presenting at the 44th Annual J.P. Morgan Healthcare Conference on Monday, January 12, 2026, at 10:30 AM PT (1:30 PM ET) in San Francisco, California.

A live webcast of the event can be accessed at the company’s investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the event.

About PacBio

PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies, which include our HiFi long-read sequencing, address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.

PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.

Contacts

Investors:
ir@pacb.com

Media:
pr@pacb.com

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A spring break trip to the Kennedy Space Center 20 years ago set University of Tennessee Health Science Center College of Medicine alumnus Eiman Jahangir, MD, on a trajectory that eventually launched him into space. 

“I always had two passions,” says Dr. Jahangir, 45, now a professor of medicine and radiology and the director of the sections of general cardiology and cardio-oncology at Vanderbilt University Medical Center. “It was medicine and it was space, and I was able to pursue the second passion once I became a doctor.” 

A 2005 graduate, he says the College of Medicine was the launchpad for both. 

On August 29, 2024, Dr. Jahangir was a member of a six-person team of commercial astronauts onboard Blue Origin’s New Shephard rocket for a 12-minute, sub-orbital flight that climbed approximately 70 miles into space before returning to earth. He was selected by MoonDAO, an organization that supports space exploration, from more than 2,200 applicants for the life-changing excursion. 

“I was the 704th person to ever go into space, and still less than 800 people, I think, have ever done it,” he says. “I was actually the first physician on a commercial spaceflight.” 

It was a wild ride, for sure. Here’s how Dr. Jahangir describes it. 

“It was surprisingly smooth going up; the rockets light up, and the whole inside of the capsule reflects the orange flame of the rocket,” he says. “It takes about seven seconds before the thing has enough power and thrust to lift off. So, you’re sitting on top of that rocket, you hear the countdown, it gets down to one and then zero, and then you hear the engine roar, and after seven seconds you just start lifting off into space.” 

“I think maybe it’s a little shaky, but you’re probably so excited that you don’t know it,” he continues. “It didn’t feel particularly shaky coming back down. It definitely sounded loud. You could hear kind of like the whooshing as you’re coming back into the atmosphere. And it felt like an elephant sitting right on my chest. And you’re just saying, ‘OK, let’s hope these parachutes open up.’” 

Dr. Jahangir is equally descriptive when he speaks of UT Health Science Center’s pivotal role in setting the course that led him to space. 

“In 2005, right before I was graduating medical school, my family and I went down to the Kennedy Space Center, and I was looking at the rockets, and it just kind of rekindled that interest and desire,” he says. “I ran back to the hotel room, looked online to see what the requirements were to become an astronaut, and realized I met the requirements because of my training at the University of Tennessee. By getting the medical degree, that was enough to be able to apply.” He waited until 2008, when the first application cycle became available, and applied, making it as far as the finals. 

In total, Dr. Jahangir has applied to NASA five times to become a U.S. astronaut and made it to the finals twice. 

Dr. Jahangir says his training in the College of Medicine equipped him to think independently and keep a level head and steady heart when faced with complex situations — all assets on his Blue Origin trip. 

“When I was in medical school, we did a lot of work at The Med (now Regional One Health). So, you had a lot of experience managing patients and figuring out complex situations, because people would come in who had not had medical care for a long time and they’d come in with just very progressed or complex diseases,” he explains.  

The proximity to St. Jude Children’s Research Hospital and opportunity to participate in research as a medical student helped guide him toward his specialty in cardio-oncology. 

“One of the biggest things that the University of Tennessee did, that I don’t think happens at all health science centers or medical schools, is it gave a very strong sense of independence in both learning and practicing as a student,” Dr. Jahangir says. “That independence leads to increased confidence. And that leads to, hopefully, becoming a better physician.” 

He says the College of Medicine also provided him with a group of friends who have stayed in touch, even 20 years since graduation. “I think it is very important that you have those people that can support you through good times and bad, tell you that maybe your idea is crazy, but still be there to lift you up,” Dr. Jahangir says. “And I think the University of Tennessee Health Science Center provided that, because it was very collegial environment, and it was a place that we could all learn together, work hard together, and build those connections and community together.” 

One friend from medical school, Joe Mobley, MD, MPH, a urologist and chief of staff at West Tennessee Healthcare – Henry County Medical Center in Paris, Tennessee, says he and Dr. Jahangir bonded early in medical school over outside activities that helped them de-stress. 

“Medical school can be challenging in and of itself, and for the most part, each of us was laser focused on the next step ahead: the next exam, the next lab, the next clinical task,” Dr. Mobley explains. “Despite this, Eiman had a variety of alternative interests and did communicate early on his love for space and a desire to be a future astronaut. 

“Beyond his initial space flight, he is using his intelligence, kindness, and charisma to share his passion and path with children and others who have high aspirations,” Dr. Mobley says. “He is the perfect role model for balancing a career, while still chasing your dreams and creating the life that you’ve dreamed of.” 

Back on terra firma in Nashville, Dr. Jahangir’s spaceflight has served as a vehicle for outreach to promote STEM education and careers in medicine. “I just got back from Brazil. We spent a week down there with a not-for-profit and went to hospitals with kids with cancer, and we did art with them. All that art is going to be sent up to space on a Soyuz rocket in November.” 

Dr. Jahangir worked for Blue Origin for six months after the spaceflight as an astronaut trainer and in Mission Control doing capsule communication. In addition to his clinical duties at Vanderbilt, he speaks to students, works with companies on aerospace technologies, and lectures on aerospace medicine. 

“It’s great, because it’s always been one of my goals to excite kids and motivate the next generation.” 

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NORTHBROOK, Ill., Dec. 30, 2025 /PRNewswire/ — Stepan Company (NYSE: SCL) today announced that it has successfully closed the previously disclosed sale of its manufacturing assets located in Lake Providence, LA. This transaction follows Stepan’s most recent divestiture of its plant in the Philippines, representing the Company’s ongoing footprint optimization efforts and focus on core growth opportunities.

The terms of the transaction were not disclosed.

Corporate Profile

Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection compounds and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.

Headquartered in Northbrook, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia. 

The Company’s common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com 

More information about Stepan’s sustainability program can be found on the Sustainability page at www.stepan.com 

Certain information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements about Stepan Company’s plans, objectives, strategies, financial performance and outlook, trends, the amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, Stepan Company’s actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “guidance,” “predict,” “potential,” “continue,” “likely,” “will,” “would,” “should,” “illustrative” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements.

There are a number of risks, uncertainties and other important factors, many of which are beyond Stepan Company’s control, that could cause actual results to differ materially from the forward-looking statements contained in this news release. Such risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in Stepan Company’s Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports, and include (but are not limited to) risks and uncertainties related to accidents, unplanned production shutdowns or disruptions in manufacturing facilities; reduced demand due to customer product reformulations or new technologies; our inability to successfully develop or introduce new products; compliance with laws; our ability to identify suitable acquisition candidates and successfully complete and integrate acquisitions; global competition; volatility of raw material and energy costs and supply; disruptions in transportation or significant changes in transportation costs; downturns in certain industries and general economic downturns; international business risks, including currency exchange rate fluctuations, legal restrictions and taxes; unfavorable resolution of litigation against us; maintaining and protecting intellectual property rights; our ability to access capital markets; global political, military, security or other instability; costs related to expansion or other capital projects; interruption or breaches of information technology systems; our ability to retain executive management and key personnel; and our debt covenants.

These forward-looking statements are made only as of the date hereof, and Stepan Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Stepan Company