Category: 3. Business

  • Kyndryl to Modernize Yamaguchi Financial Group’s Core Banking System into a Multi‑Bank Platform

    Kyndryl to Modernize Yamaguchi Financial Group’s Core Banking System into a Multi‑Bank Platform

    TOKYO, Feb. 12, 2026 /PRNewswire/ — Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, today announced that it will support Yamaguchi Financial Group (Yamaguchi FG) in building an integrated platform for its core banking system. This will enable Yamaguchi FG’s three banks—Yamaguchi Bank, Momiji Bank and Kitakyushu Bank—to operate on a shared IT infrastructure while consolidating application programs into a single source.  

    This initiative will streamline group operations and support future business expansion via an IT platform that enables new financial institutions to join and begin operations quickly and efficiently.

    Under the agreement, Kyndryl Japan will manage the IT infrastructure domain and support the Group’s management in strengthening its foundation, while IBM Japan will support the business application domain. The initiative began in January 2026, with the new system targeted for launch in January 2029.

    By operating multiple banks on a single system, Yamaguchi FG aims to enhance its IT management structure and create a framework that enables additional financial institutions to integrate into the platform seamlessly.

    The new core banking system platform will integrate the operating system, middleware and common infrastructure programs, and consolidate application programs into a unified environment. This approach will improve development productivity and reduce operational costs of the core banking system.

    Kyndryl Japan brings decades of experience supporting mission‑critical systems, as well as extensive expertise serving the financial services sector, including core initiatives among regional banks. Kyndryl also leverages advanced technologies, including AI, and provides comprehensive end‑to‑end capabilities across consulting, design, build and operations that will assist and facilitate Yamaguchi FG’s transformation.

    About Yamaguchi Financial Group
    Yamaguchi Financial Group is a broad-based regional financial group comprising The Yamaguchi Bank, Momiji Bank, and Kitakyushu Bank. The Group provides a wide range of financial services to individual and corporate customers, primarily across Yamaguchi, Hiroshima, and Fukuoka prefectures in Japan.

    About Kyndryl 
    Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world’s largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com. 

    Kyndryl press contact
    [email protected]

    SOURCE Kyndryl

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  • A silver lining to the European energy crisis: Energy efficiency, productivity, and potential output

    European natural gas prices surged in the summer of 2022 to more than ten times their early 2021 levels, and by 2025 remained about twice their historical average. How has the shock affected the economy’s productive capacity, and what does it imply for longer term potential output?

    A large literature studying the macroeconomic effects sprung up immediately after the initial energy price shock in 2022, with a consensus now emerging that output held up somewhat better than some initially feared, as Russian gas was replaced with alternative supplies, gas-dependent production processes partially switched to other inputs, and broader substitution along the production chain took place (e.g. Bachmann et al. 2024, Di Bella et al. 2024, Lan et al. 2022).

    But most of the existing studies focus on shorter-term dynamics and take aggregate productivity as given. In a new paper (Lan et al. 2026), we take a step back and explicitly focus on how the surge in energy prices has impacted productivity in the euro area and hence potential output. If high energy prices spur innovation in energy efficiency, the costs of the shock could be smaller than feared. This idea draws on the theory of directed technical change (Acemoglu 2002), which predicts that changes in relative prices steer innovation toward scarce inputs. As energy becomes more expensive, firms have an incentive to innovate in energy-saving technologies. For a given level of R&D, however, this reallocation comes at the cost of lower innovation in capital labour-augmenting technologies.

    Energy efficiency increased significantly following the sharp increase in energy prices

    Natural gas consumption fell durably following the sharp rise in energy prices, as shown in Figure 1, which compares monthly EU gas use before and after the price shock.

    Figure 1 Natural gas consumption in the EU (million cubic metres)

    Sources: Eurostat and authors’ calculations.

    In principle, lower natural gas consumption after the price increase may reflect several factors. In addition to energy efficiency gains, these include behavioural changes, reduced output – via reduced capacity utilisation of capital and labour – and fuel switching, such as substituting oil for natural gas.

    As a first step to isolating efficiency effects, Figure 2a shows that output per unit of gas rose sharply as gas prices spiked and then remained at this higher level even as prices declined. For context, a proxy for labour productivity is also plotted, which remained flat or declined. This aligns with the directed technical change model discussed below: as gas prices rose, firms shifted resources toward improving energy productivity at the expense of improvements in labour or capital productivity.

    Because a drop in gas use per unit of output could partly reflect fuel switching rather than true efficiency improvements, Figure 2b shows that aggregate energy use per unit of output fell in 2022 and 2023 (latest data), dropping below both the pre-pandemic trend and the pandemic average. The varying magnitudes of the declines across energy sources indicate some fuel switching – especially away from gas given its price spike – but overall energy productivity did increase.

    Survey evidence reinforces the role of firm decision-making in driving these gains. For example, a 2024 European Investment Bank (EIB) survey reported that 50% of firms were investing in energy efficiency, with such investments accounting for 12% of total investment – the highest share since the EIB began tracking it: “Europe’s high energy costs have driven efficiency investments” (EIB 2025: 1).

    Figure 2 Energy intensity in the EU

    The impact on potential output and the silver lining

    To assess the macroeconomic impact of higher energy prices, we use a model of endogenous technical change in which firms allocate R&D between capital labour technologies and energy-related technologies. We study the impact of the energy price shock of the past years, with real fossil fuel prices peaking in 2022 at nearly 400% above pre-pandemic levels and returning to their pre-pandemic average by 2026/27 (Figure 3).

    We estimate that euro area potential output declined by 0.8% by 2026 relative to a no-shock counterfactual while energy efficiency is around 3% higher. The potential growth effect is strongest early on, when the price shock is largest, and fades as prices normalise and firms reallocate resources to improve energy efficiency. By 2026, the growth effect has dissipated.

    Figure 3 Real euro area fossil fuel energy prices (index, average 2016/19=100)

    Sources: IMF World Economic Outlook and authors’ calculations. Note: Nominal energy prices are deflated by the euro area GDP deflator. Prices based on July 2025 IMF World Economic Outlook (WEO).

    To understand these results, it helps to begin with a counterfactual without directed technical change. In that case, the energy price shock simply raises the cost of a key production input. Because energy is difficult to substitute (it has a low elasticity of substitution with the capital/labour bundle), output drops sharply. With directed technical change, however, higher energy prices induce firms to shift R&D from capital labour-augmenting technologies toward improving energy efficiency. In the short to medium term, these gains cannot fully offset the higher energy price or the transitional cost of redirecting innovation. Thus, while directed technical change mitigates the shock relative to a scenario without it, potential growth and output still fall compared to a no-shock baseline.

    How large was the cushioning effect of increased energy efficiency? To gauge the magnitude, we drastically reduce the responsiveness of energy efficiency to price shocks in the model. Had energy efficiency reacted by 80% less, for example, then (as shown in Figure 4) the euro area’s potential output loss from the energy price shock would have been around two-thirds larger (i.e. there would have been a drop of around 1.3% in potential output by 2026).

    Figure 4 Impact of change in energy prices over 2022-27 on potential output in the euro area (percent)

    Source: Authors’ calculations.

    Italy and Germany were more impacted than Spain and France

    These effects are heterogenous across large euro area economies. The drop in potential output by 2027 is estimated to be highest in Italy at around 1.2%, followed by Germany at 0.9%, and then Spain and France at 0.6% and 0.4%, respectively, due to a different energy mix (and hence price shock) and different estimated elasticities of substitution and investment efficiencies (Figure 5).

    Figure 5 Impact of change in energy prices over 2022-27 on potential output in individual euro area countries (deviation from no shock scenario in 2027)

    Sources: Authors’ calculations.

    Sharp energy price increases are significantly more costly than gradual price increase

    We also compare the impact of the observed price shock to the impact of a counterfactual shock that would have increased fossil fuel prices more smoothly over several years to yield the same energy price endpoint by 2027. We find that the impact on potential output would have been more than four times smaller with the gradual price increase. Large and abrupt price changes, coupled with the transitional costs of reallocating investment from labour/capital saving to energy saving, entail larger deviations from the balanced growth path. This suggests that, over and above alleviating a trend rise in energy prices, there is an output gain to be reaped from containing their lower-frequency fluctuations – particularly from avoiding disruptive spikes that distort the allocation of firms’ R&D expenditures.

    Policy conclusions

    The European energy crisis illustrates a general principle: shocks that change relative prices can steer innovation and reshape growth paths. Our analysis suggests that this response offered a modest silver lining to the crisis: durable energy efficiency gains cushioned the 2022 shock and provided some protection against possible future fossil fuel price shocks.

    At the same time, we find that abrupt price spikes are particularly harmful. But rather than policies that subsidise retail energy prices persistently, market reforms that lower wholesale price levels and volatility – such as further integration of the European energy system – should be prioritised (Kammer 2025, D’Arcangelo et al. forthcoming). Another way to put this is to say that energy price volatility should be lowered by removing economic distortions (e.g. the artificial fragmentation of European energy markets along national lines) and not by introducing new economic distortions (e.g. price subsidies).

    The productivity trade-off at the heart of our model also calls for a focus on labour/capital productivity in Europe, since the diversion of R&D resources from labour/capital-augmenting technology accentuates Europe’s longstanding productivity challenges. Ambitious policy action is needed to boost Europe’s productivity. This includes national structural reforms (Budina et al. 2025), deepening the EU single market (Arnold et al. 2025) and joint provision of key public goods at the EU level (Busse et al. 2025). Additional resources for R&D, which would loosen the trade-off between labour/capital and energy innovation and reduce the spending gap vis-à-vis the US, will also be critical.

    References

    Acemoglu, D (2002a), “Directed technical change,” The Review of Economic Studies 69(4): 781–809.

    D’Arcangelo, F, D Bartolini, G Di Bella, R Duval, X Li, H Rojas-Romagosa, and F Toscani (forthcoming), “Energy Price Shocks, Market Fragmentation, and the Macroeconomic Gains from Deeper Energy Market Integration in Europe”.

    Arnold, N, A Dizioli, A Fotiou, J-M Frie, B Hacibedel, T Iyer, H Lin, M Nabar, H Tong, and F Toscani (2025), “Lifting Binding Constraints on Growth in Europe: Actionable Priorities to Deepen the Single Market,” IMF Working Paper 2025/113

    Bachmann, R, D Baqaee, C Bayer, M Kuhn, A Löschel, B Moll, A Peichl, K Pittel, and M Schularick (2024), “What if? The macroeconomic and distributional effects for Germany of a stop of energy imports from Russia,” Economica 91(364): 1157–2000.

    Budina, N, O Adilbish, D Cerdeiro, R Duval, B Égert, D Kovtun, A Thi, N Nguyen, A Panton, and M Tejada (2025), “Europe’s National-Level Structural Reform Priorities,” IMF Working Paper 2025/104.

    Busse, M, H Lin, M Nabar, and J Yoo (2025), “Making the EU’s Multi- annual Financial Framework Fit for Purpose,” IMF Working Paper 2025/114.

    Di Bella, G, M Flanagan, K Foda, S Maslova, A Pienkowski, M Stuermer, and F Toscani (2024), “Natural gas in Europe: The potential impact of disruptions to supply,” Energy Economics 138.

    EIB – European Investment Bank (2024), “EIB Investment Survey 2024”.

    EIB (2025), “Unlocking Energy Efficiency Investments by Small Firms and Mid-Caps”.

    IMF – International Monetary Fund (2024), “Regional Economic Outlook for Europe Note 1: Europe’s Declining Productivity Growth: Diagnoses and Remedies”.

    Lan, T, G Sher, and J Zhou (2022), “The economic impacts on Germany of a potential Russian gas shutoff,” IMF Working Paper 144.

    Lan, T, M Patnam, F G Toscani and C Li (2026), “A Silver Lining? The European Energy Crisis through the Lens of Directed Technical Change”, IMF Working Paper 2026/003.

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  • How Samsung TV Plus Reached 100 Million Users – Samsung Global Newsroom

    How Samsung TV Plus Reached 100 Million Users – Samsung Global Newsroom

    Samsung TV Plus, Samsung Electronics’ free ad-supported streaming (FAST) service, has surpassed 100 million monthly active users (MAU) worldwide. After reaching 88 million in October 2024, the figure has increased by 12 million in about a year and two months, highlighting how Samsung’s longstanding hardware dominance in the global TV market — maintained for the past 19 years — has evolved into a robust media platform ecosystem.

    As the global media market shifts increasingly toward paid subscriptions, Samsung TV Plus provides a unique viewing experience that allows users to access content instantly, without requiring additional sign-ups or payment. Surpassing the milestone of 100 million users underscores the success of this model as an appealing alternative for viewers.

    Samsung Newsroom takes a look at the transformative journey of Samsung TV Plus as it evolves into a global media platform amidst the changing landscape of television viewing.

    Lost in a Flood of OTTs: Authentic TV Experience Regains Attention

    With paid OTT services becoming the norm in today’s media market, the explosion of content has led to viewer fatigue. As subscription fees continue to rise and platforms have become more fragmented, many find themselves overwhelmed by the sheer number of choices, making it increasingly difficult to locate the content they actually want to watch.

    In this context, FAST services are gaining recognition as a new viewing method. By merging the straightforwardness of traditional television — where viewers can jump right into content as soon as they turn on their TVs — with the vast selection offered by OTT platforms that allow viewers to choose content tailored to their preferences, FAST services are appealing to viewers worldwide looking for a simpler, hassle-free viewing experience.

    The Beginning of Samsung TV Plus: A Viewing Method Faithful to the Basics

    Samsung TV Plus has evolved into a prominent FAST service, but it isn’t new. Launched in 2015 — before the concept of FAST even existed — the platform has been delivering free channel services that come pre-installed on Samsung smart TVs. The core feature allows users to enjoy live content simply by turning on their TVs, without the need for separate subscriptions, payments or extra equipment.

    In its early days, Samsung TV Plus was often viewed more like the pre-installed free TV channels available in some regions, rather than as a standalone media platform. Recently, however, with American broadcasters flooding into the FAST market, the idea of ad-supported free services has become well-established. Recognizing this shift in the media landscape, Samsung has begun to cultivate Samsung TV Plus as a distinct, independent media platform.

    Today, Samsung TV Plus is broadening its content offerings beyond traditional entertainment and dramas, as well as incorporating content enhancement utilizing AI technology. One innovative feature is the “All-in-One AI Integrated Channel,” which revives popular dramas from the 2000s. These classics have been remastered in high definition using AI-driven picture and sound quality enhancements, providing viewers with a fresh take on beloved content while utilizing the existing video assets. Additionally, the platform has bolstered its travel and fitness-focused lifestyle web entertainment content by adding popular creators’ channels like “Pani Bottle” and “Hip Euddeum.”

    In efforts to expand its K-content offerings, Samsung TV Plus has partnered with leading Korean media companies to enhance its premium K-content lineup, making it one of the largest K-content providers in the United States. By streaming various live concerts, the platform draws in fans who want to engage with Korean entertainment and culture.

    Beyond Hardware: Establishing a Global Media Platform

    Currently, Samsung TV Plus boasts around 4,300 channels and 66,000 videos on demand (VOD) across 30 countries — all for free. By partnering with local broadcasters and content creators, the service continues to develop content that meets regional viewing demands, shaping a global FAST ecosystem. Moving beyond being merely a hardware manufacturer, the company is establishing itself as a major media platform.

    In Korea, major channels and content typically consumed via terrestrial broadcasts and existing IPTV services can now also be accessed on Samsung TV Plus. Offering live channels and vast content libraries without additional subscriptions or fees, this platform has become a practical alternative for those wishing to reduce their reliance on paid broadcasting services. Users can enjoy an intuitive experience without the hassle of extra equipment or complicated setups and the burden of discovering new content is significantly eased.

    Achieving Major Broadcaster-Level Viewership: Solidifying Leadership in the Global FAST Competition

    Samsung TV Plus has achieved impressive 100 million monthly viewership numbers, placing it on par with the three major global broadcasting networks. This notable milestone signifies that the service has evolved from being just an additional feature on Samsung TVs into a robust platform that competes alongside leading global media companies.

    Samsung is committed to expanding its presence within the global media ecosystem through Samsung TV Plus. The strategy focuses on continuously enhancing the platform’s value by setting standards for enjoyable TV viewing experiences for users — driven by three key factors: instant viewing capabilities without the need for a separate set-top box, AI-based content curation and constantly updated competitive offerings.

    “Samsung TV Plus has transformed into a global media platform that seamlessly integrates into the daily lives of viewers worldwide,” said Choi Joon-hun, Head of the TV Plus Group from Visual Display Business at Samsung Electronics. “Moving forward, we will continue to strengthen our distinct competitive edge in the FAST market by diversifying channels and securing premium content.”

    Built on its strong hardware leadership, Samsung Electronics is positioning itself as a key player in the global media ecosystem. Samsung TV Plus is ushering in a new, user-centric lifestyle of content consumption, reshaping the way viewers interact with media.

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  • EUROPEAN COMMISSION APPROVES AMGEN’S UPLIZNA® FOR GENERALIZED MYASTHENIA GRAVIS| Amgen

    EUROPEAN COMMISSION APPROVES AMGEN’S UPLIZNA® FOR GENERALIZED MYASTHENIA GRAVIS| Amgen






    First and Only CD19-Targeted Therapy Approved in Europe for Adults with anti-AChR+ and anti-MuSK+ gMG

    UPLIZNA Demonstrates Durable Disease Control with Twice-Yearly Dosing*

    THOUSAND OAKS, Calif., Feb. 12, 2026 /PRNewswire/ — Amgen (NASDAQ:AMGN) today announced the European Commission (EC) has approved UPLIZNA® (inebilizumab) as an add-on treatment to standard therapy for adults living with generalized myasthenia gravis (gMG) who are anti-acetylcholine receptor (AChR) or anti-muscle specific tyrosine kinase (MuSK) antibody positive. The approval offers patients a new, targeted treatment option with the potential for long-term disease control through twice-yearly maintenance dosing, following two initial loading doses.

    Generalized myasthenia gravis is a rare, unpredictable, chronic, B-cell-mediated autoimmune disease that causes fluctuating muscle weakness and can impact quality of life.1-3 It is a subtype of myasthenia gravis (MG), which affects an estimated 56,000-123,000 people in Europe.4  

    “This approval represents an important advancement for adults with gMG in Europe, helping address debilitating symptoms and potentially reduce the long-term use of steroids where clinically appropriate,” said Cesar Sanz Rodriguez, vice president of Medical Affairs at Amgen. “With convenient twice-yearly dosing and durable efficacy in people with anti‑AChR and anti‑MuSK antibody positive gMG, UPLIZNA brings a new first-in-class approach to managing this complex disease.”

    The EC approval is supported by data from the Myasthenia Gravis Inebilizumab Trial (MINT), the largest Phase 3 biologic study to include both AChR+ and MuSK+ patients, and the first to successfully incorporate a structured steroid-tapering protocol.  Patients receiving steroids at baseline began tapering at Week 4 with a goal of reaching prednisone 5 mg per day by Week 24. By Week 26, 87.4% of patients taking UPLIZNA and 84.6% of those taking placebo had reduced their steroid dose to 5 mg or less per day.5

    “UPLIZNA offers a new approach to treating gMG by selectively targeting CD19-positive B cells, which play a key role in disease pathology,” said John Vissing, MD, DMSci, professor of neurology and director of the Copenhagen Neuromuscular Center, Rigshospitalet, at the University of Copenhagen. “The approval provides both clinicians and patients a valuable new treatment option with the potential for long-term efficacy while addressing the challenges of long-term steroid exposure.”

    The approval in gMG builds on UPLIZNA’s established efficacy in rare autoimmune conditions, including its November 2025 EC approval as the first and only treatment for adults living with active immunoglobulin G4-related disease (IgG4-RD),6 a chronic and debilitating immune-mediated inflammatory condition that can affect multiple organs.7,8 UPLIZNA was also previously approved as a monotherapy for adult patients with neuromyelitis optica spectrum disorder (NMOSD) who are anti-aquaporin-4 immunoglobulin G (AQP4-IgG) seropositive.6 

    UPLIZNA has received regulatory approvals across multiple indications from the U.S. Food and Drug Administration, Health Canada, and the Brazilian Health Regulatory Agency (ANVISA), among others.

    About the MINT Trial
    MINT is a randomized, double-blind, placebo-controlled, parallel-group trial (NCT04524273) designed to evaluate the efficacy and safety of UPLIZNA in adults with gMG. The trial enrolled 238 adults with gMG, including 190 patients who are AChR+ and 48 patients who are MuSK+.5

    Eligibility criteria at screening and randomization included a Myasthenia Gravis Foundation of America (MGFA) classification of II, III or IV disease, MG-ADL score between 6 and 10 with greater than 50% of this score attributed to non-ocular items, or an MG-ADL score of at least 11, and a Quantitative Myasthenia Gravis (QMG) score of at least 11.5 Participants had to have been receiving a stable dose of steroids and/or nonsteroidal immunosuppressive therapy (or both) at the time of randomization.5

    The primary endpoint was change from baseline in MG-ADL score at Week 26 in the combined study population.5 Key secondary endpoints included change from baseline in QMG scores in the combined study population; change from baseline in MG-ADL score at Week 26 for the AChR+ cohort and separately the MuSK+ cohort; and change from baseline in QMG score at Week 26 for the AChR+ cohort and separately the MuSK+ cohort.5 MINT also includes an optional three-year open-label treatment period.

    Key findings from MINT include5:

    Primary Endpoint:

    • A 1.9-point difference in the MG-ADL score for UPLIZNA (-4.2) compared to placebo (-2.2) (p<0.0001) at Week 26 for the combined study population.

    Key Secondary Endpoints:

    • A 2.5-point difference in the QMG score for UPLIZNA (-4.8) compared to placebo (-2.3) (p=0.0002) at Week 26 for the combined treated population.
    • A 1.8-point difference in the MG-ADL score for UPLIZNA (-4.2) compared to placebo (-2.4) (p=0.0015) at Week 26 for the AChR+ population.
    • A 2.5-point difference in the QMG score for UPLIZNA (-4.4) compared to placebo (-2.0) (p=0.0011) at Week 26 for the AChR+ population.
    • A 2.2-point difference in the MG-ADL score for UPLIZNA (-3.9) compared to placebo (-1.7) (p=0.0297) at Week 26 for the MuSK+ population.
    • A 2.3-point difference in the QMG score for UPLIZNA (-5.2) compared to placebo (-3.0) (p=0.1326) at Week 26 for the MuSK+ population; this difference was not statistically significant.

    Additional Exploratory Endpoints:

    • A 2.8-point difference (95% CI: −3.9 to −1.7) in the MG-ADL score for UPLIZNA (-4.7) compared with placebo (-1.9) at Week 52 for the AChR+ population.
    • A 4.3-point difference (95% CI: −5.9 to −2.8) in the QMG score for UPLIZNA (-5.8) compared with placebo (-1.4) at Week 52 for the AChR+ population.
    • 87.4% of UPLIZNA patients and 84.6% of those taking placebo reduced their steroid dose to 5 mg or less per day by Week 26.

    MG-ADL scale, which assesses the impact of gMG on daily functions of 8 signs or symptoms that are typically affected in gMG. Each item is assessed on a 4-point scale, where a score of 0 represents normal function and a score of 3 represents loss of ability to perform that function. The total MG-ADL score ranges from 0 to 24, with higher scores indicating more impairment.

    The QMG score is a 13-item categorical grading system that quantitively measures disease impairment by mainly assessing muscle weakness. Each item is assessed on a 4-point scale where a score of 0 represents no impairment weakness and a score of 3 represents severe impairment weakness. A total possible score ranges from 0 to 39, where higher scores indicate more severe impairment.

    About Generalized Myasthenia Gravis (gMG)
    Generalized myasthenia gravis (gMG) is a rare, chronic, B-cell-mediated autoimmune disorder that impairs neuromuscular communication and can cause muscle weakness, trouble breathing, difficulty swallowing and impaired speech and vision.1-3 

    Approximately 85% of patients with myasthenia gravis have the generalized form, or gMG.9,10 The prevalence and incidence of gMG are increasing worldwide.10 There are an estimated 56,000 to 123,000 people with myasthenia gravis in Europe, with prevalence rates in different countries varying significantly.4 Approximately 85% of patients with myasthenia gravis have detectable antibodies against AChR, and approximately 7% have detectable antibodies against MuSK.11 Global prevalence is estimated at 2-36 cases per 100,000.4 The disease is more frequently seen in young women (age 20-30) and men aged 50 years and older.4,10

    B cells are central to the pathogenesis of gMG. The disease is thought to be primarily driven by pathogenic CD19+ plasmablasts and plasma cells that target critical proteins in the neuromuscular junction.1-3

    About UPLIZNA® (inebilizumab)
    UPLIZNA is a humanized monoclonal antibody (mAb) that causes targeted and sustained depletion of key cells that contribute to the underlying disease process (autoantibody-producing CD19+ B cells, including plasmablasts and some plasma cells). The precise mechanism by which UPLIZNA exerts its therapeutic effects is unknown. After two initial infusions, patients need one maintenance dose of UPLIZNA every six months.

    About Amgen 
    Amgen discovers, develops, manufactures and delivers innovative medicines to fight some of the world’s toughest diseases. Harnessing the best of biology and technology, Amgen reaches millions of patients with its medicines.

    More than 45 years ago, Amgen helped establish the biotechnology industry at its U.S. headquarters in Thousand Oaks, California, and it remains at the cutting edge of innovation, using technology and human genetic data to push beyond what is known today. Amgen is advancing a broad and deep pipeline and portfolio of medicines to treat cancer, heart disease, inflammatory conditions, rare diseases and obesity and obesity-related conditions.

    Amgen has been consistently recognized for innovation and workplace culture, including honors from Fast Company and Forbes. Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average®, and it is also part of the Nasdaq-100 Index®, which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization.

    For more information, visit Amgen.com and follow Amgen on X, LinkedIn, Instagram, YouTube, Facebook, TikTok and Threads.

    Amgen Forward-Looking Statements
    This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeOne Medicines Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast), our acquisitions of ChemoCentryx, Inc., Dark Blue Therapeutics, Ltd. or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon’s business, performance and opportunities, and any potential strategic benefits, synergies or opportunities expected as a result of such acquisition), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

    No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions, including those resulting from geopolitical relations and government actions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful, and may result in unanticipated costs, delays or failures to realize the benefits of the transactions. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our sustainability objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

    CONTACT: Amgen, Thousand Oaks
    Elissa Snook, 609-251-1407 (media)
    Annik Allen, 917-288-9136 (media)
    Casey Capparelli, 805-447-1746 (investors) 

    References

    *After two initial loading doses.

    1. Yi JS, Guptill JT, Stathopoulos P, Nowak RJ, O’Connor KC. B cells in the pathophysiology of myasthenia gravis. Muscle Nerve. 2018;57(2):172-184.
    2. Willcox HN, Newsom-Davis J, Calder LR. Cell types required for anti-acetylcholine receptor antibody synthesis by cultured thymocytes and blood lymphocytes in myasthenia gravis. Clin Exp Immunol. 1984;58:97-106.
    3. Stathopoulos P, Kumar A, Nowak RJ, O’Connor KC. Autoantibody-producing plasmablasts after B cell depletion identified in muscle-specific kinase myasthenia gravis. JCI Insight. 2017;2(17):e94263.
    4. Bubuioc AM, Kudebayeva A, Turuspekova S, Lisnic V, Leone MA. The epidemiology of myasthenia gravis. J Med Life. 2021;14(1):7-16.
    5. Nowak R, Benatar M, Ciafaloni E, et al. A phase 3 trial of inebilizumab in generalized myasthenia gravis. N Engl J Med. 2025;392(23):2309-2320.
    6. European Medicines Agency. First treatment recommended for rare immunoglobulin-related autoimmune disease. Available at: https://www.ema.europa.eu/en/news/first-treatment-recommended-rare-immunoglobulin-related-autoimmune-disease. Accessed: February 2026.
    7. Stone JH, Khosroshahi A, Zhang W, et al. Inebilizumab for Treatment of IgG4-Related Disease. N Engl J Med. 2025;392(12):1168-1177.
    8. Perugino CA, Stone JH. IgG4-related disease: an update on pathophysiology and implications for clinical care. Nat Rev Rheumatol. 2020;16(12):702-714.
    9. Lazaridis K, Tzartos SJ. Autoantibody specificities in myasthenia gravis: implications for improved diagnostics and therapeutics. Front Immunol. 2020;11:212.
    10. Dresser L, Wlodarski R, Rezania K, Soliven B. Myasthenia gravis: epidemiology, pathophysiology and clinical manifestations. J Clin Med. 2021;10(11):2235.
    11. Hehir MK, Silvestri NJ. Generalized myasthenia gravis: classification, clinical presentation, natural history, and epidemiology. Neurol Clin. 2018;36:253-260.

    Logo – https://mma.prnewswire.com/media/213782/5795228/AMGEN_LOGO_V1.jpg


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  • Dow declares quarterly dividend of 35 cents per share

    Dow declares quarterly dividend of 35 cents per share

    MIDLAND, Mich., Feb. 12, 2026 /PRNewswire/ — Dow (NYSE: DOW) has declared a dividend of 35 cents per share, payable March 13, 2026, to shareholders of record on February 27, 2026.

    This marks the 458th consecutive dividend paid by the Company or its affiliates since 1912.

    About Dow
    Dow (NYSE: DOW) is one of the world’s leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, customer-focused innovation and leading business positions enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 29 countries and employ approximately 34,600 people. Dow delivered sales of approximately $40 billion in 2025. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us at www.dow.com.

    For further information, please contact:

    Investors:
    Andrew Riker
    [email protected] 

    Media:
    Sarah Young
    [email protected] 

    X: https://twitter.com/DowNewsroom 
    Facebook: https://www.facebook.com/dow/ 
    LinkedIn: http://www.linkedin.com/company/dow-chemical 
    Instagram: http://instagram.com/dow_official 

    Cautionary Statement about Forward-Looking Statements

    Certain statements in this press release are “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “opportunity,” “outlook,” “plan,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “will be,” “will continue,” “will likely result,” “would” and similar expressions, and variations or negatives of these words or phrases.

    Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow’s control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow’s products; Dow’s expenses, future revenues and profitability; any sanctions, export restrictions, supply chain disruptions or increased economic uncertainty related to the ongoing conflicts between Russia and Ukraine and in the Middle East; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow’s contemplated capital and operating projects; Dow’s ability to realize its commitment to carbon neutrality on the contemplated timeframe, including the completion and success of its integrated ethylene cracker and derivatives facility in Alberta, Canada; size of the markets for Dow’s products and services and ability to compete in such markets; Dow’s ability to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow’s products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow’s intellectual property in the United States and abroad; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow’s significant customers and suppliers; changes in public sentiment and political leadership; increased concerns about plastics in the environment and lack of a circular economy for plastics at scale; changes in consumer preferences and demand; changes in laws and regulations, political conditions, tariffs and trade policies, or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business, logistics and supply disruptions; security threats, such as acts of sabotage, terrorism or war, including the ongoing conflicts between Russia and Ukraine and in the Middle East; weather events and natural disasters; disruptions in Dow’s information technology networks and systems, including the impact of cyberattacks; risks related to Dow’s separation from DowDuPont Inc. such as Dow’s obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities; and any global and regional economic impacts of a pandemic or other public health-related risks and events on Dow’s business.

    Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled “Risk Factors” contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the Company’s subsequent reports filed with the U.S. Securities and Exchange Commission. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow’s business. Dow Inc. and The Dow Chemical Company and its consolidated subsidiaries assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.

    ®TM Trademark of The Dow Chemical Company or an affiliated company of Dow                 

    SOURCE The Dow Chemical Company


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  • Making Magic at Sea and Living out a Childhood Dream as one of Disney Cruise Line’s first Postgraduate Third Engineers

    Making Magic at Sea and Living out a Childhood Dream as one of Disney Cruise Line’s first Postgraduate Third Engineers

    Upon graduating, Daniel had his sights set on a lifelong dream: working onboard Disney Cruise Line. “I chose to work here because I wanted to join the cruise industry, and I had heard many wonderful things about this company,” he explained. He started exploring roles with Disney Cruise Line and soon began a magical new journey as a Postgraduate Third Engineer. After completing his initial contract, Daniel’s impact to all crew and guests onboard was evident, and he was offered a full-time role as a Third Engineer onboard Disney Cruise Line’s fleet.

    Now, as a newly-minted Third Engineer, Daniel’s responsibilities span ship-wide to ensure a seamless sailing experience. Responsible for the operation, maintenance and repair of the ship’s engine room machinery and auxiliary systems, Daniel makes sure everything runs efficiently and safely at sea.

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  • Vancouver‑led team wins 2025 Deal of the Year at the ACG British Columbia Dealmakers Awards | Global law firm

    Our firm is pleased to share that a transaction we advised on has been recognized as the 2025 Deal of the Year at the ACG British Columbia Dealmakers of the Year Awards.

    The award recognizes the sale of Victoria, B.C.-based Island Technical Installations Ltd. (ITI), a fully integrated electrical equipment engineering, manufacturing, and services company, to a wholly owned subsidiary of Trystar, LLC, which is controlled by Blackstone.

    A multi-office, multi-disciplinary team of NRF lawyers across Canada and the United States advised ITI and its shareholders in connection with a competitive auction process that culminated in its sale to Trystar.

    Kristopher Miks, the Vancouver-based partner who led the deal team, commented: “Receiving the 2025 Deal of the Year is a tremendous honour for our client and our team. We are grateful to ITI for the trust they placed in us throughout this pivotal moment in their growth story.”

    Click here for details on the deal.

    About ACG British Columbia

    The Association for Corporate Growth (ACG) British Columbia supports middle‑market growth, private equity and dealmaking. Its Dealmakers of the Year Awards highlight impactful regional transactions and the companies, executives and advisors involved.

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  • Aramco signs MoU with Microsoft to help advance industrial AI and digital talent transformation – Aramco

    1. Aramco signs MoU with Microsoft to help advance industrial AI and digital talent transformation  Aramco
    2. Microsoft accelerates AI skilling in Saudi Arabia, helping 3 million people acquire AI skills by 2030  Microsoft Source
    3. Incorpify AI and Plug and Play hosted a high-level AI forum in Riyadh, advancing Saudi Arabia’s digital transformation.  The National Law Review
    4. Microsoft to launch Saudi Arabia East cloud region in Q4 2026  Data Center Dynamics
    5. Saudi Arabia Data Analytics Market: AI Integration, Cloud Adoption & Growth Outlook  vocal.media

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  • From safety to impact: what India’s AI summit signals about global governance – The International Institute for Strategic Studies

    From safety to impact: what India’s AI summit signals about global governance – The International Institute for Strategic Studies

    1. From safety to impact: what India’s AI summit signals about global governance  The International Institute for Strategic Studies
    2. In Delhi, the AI Boom Comes With a $33,000 Hotel Room Fee  Bloomberg
    3. Making Artificial Intelligence work where it matters most  Hindustan Times
    4. Embassy of India in the UAE and Symbiosis Dubai hosted the ‘Road to AI Impact Summit 2026’  ANI News
    5. Traffic Cops Bring Schools On Board For AI Summit  Times of India

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  • ’AI Uncertainty Exposes Cracks, Opportunities Within HY, Leveraged Loans’ – Houlihan Lokey

    1. ’AI Uncertainty Exposes Cracks, Opportunities Within HY, Leveraged Loans’  Houlihan Lokey
    2. Tech IPO hype gets drowned out on Wall Street by prospect of $1 trillion in debt sales  CNBC
    3. Tech’s AI Push Risks a Bond Market Blowback  Bloomberg
    4. TMM Crypto(@The-master-minds)’s insights  Binance
    5. How AI debt financing impacts duration supply and interest rates  Federal Reserve Bank of Dallas

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