Category: 3. Business

  • Johnson & Johnson to highlight breadth of its major depressive disorder portfolio at 2025 ECNP Congress

    TITUSVILLE, N.J. (October 10, 2025) — Johnson & Johnson (NYSE: JNJ) announced today that 17 abstracts featuring new clinical and real-world data will be presented at the annual European College of Neuropsychopharmacology (ECNP) Congress, taking place October 11-14 in Amsterdam, The Netherlands. Presentations include the latest research from across the Company’s neuropsychiatry portfolio, including major depressive disorder (MDD), treatment-resistant depression (TRD), and schizophrenia.

    “MDD is a complex disorder that can manifest in different ways for each individual, and the traditional one-size-fits-all treatment approach often results in mixed patient outcomes,” said Bill Martin, Ph.D., Global Neuroscience Therapeutic Area Head, Johnson & Johnson Innovative Medicine.1,2 “At Johnson & Johnson, we are committed to advancing innovative and differentiated therapies through a targeted and patient-first approach, and our data at ECNP strongly reflects our relentless focus on this commitment.”

    Key presentations include:

    • New analysis of Phase 3 data evaluating the impact of investigational adjunctive CAPLYTA® (lumateperone) on sexual function in patients with MDD (Poster PS04-3102).3
    • An oral presentation highlighting findings from a sub-group analysis of Phase 3 data evaluating the efficacy of adjunctive seltorexant, an investigational first-in-class therapy, compared with adjunctive quetiapine extended release (XR) in European Union and United Kingdom patients with MDD with insomnia symptoms.4
    • Findings from a post-hoc analysis of the ESCAPE-TRD study examining the association between baseline patient characteristics and reaching remission with SPRAVATO® (esketamine) CIII nasal spray versus quetiapine XR in patients with TRD (Poster PS02-1219).5
    • Real-world safety data from the French ELLIPSE study of SPRAVATO® (PS02-1111).6
    • Results from a Delphi research study outlining expert consensus recommendations of European psychiatrists on key decision-making factors for continuation of SPRAVATO® treatment in patients with TRD (Poster PS04-3215).7

    Johnson & Johnson will present the following posters at ECNP Congress on October 12 from 8:00 – 8:30 a.m. CET (e-posters), October 13 from 12:35 – 2:00 p.m. CET, and October 14 from 12:35 – 2:00 p.m. CET.

    Poster # Title
    Major Depressive Disorder
    EP03-0245 Adjunctive Lumateperone 42 mg Treatment in Major Depressive Disorder: Efficacy in Anhedonia and Across Broad Range of Depressive Symptoms
    PS03-2109 Efficacy of Adjunctive Lumateperone 42 mg Treatment Across Depression and Anhedonia Symptoms in Major Depressive Disorder
    PS04-3102 Evaluation of Sexual Function With Adjunctive Lumateperone in Patients With Major Depressive Disorder
    EP03-0243 Long-Term Adjunctive Lumateperone Treatment in Major Depressive Disorder: Results From a Six-Month Open-Label Extension Study
    PS03-2108 Beyond Inflammation: Unveiling Novel Molecular Mechanisms in Major Depressive Disorder and Antidepressant Response in a Cohort Stratified by Inflammatory Status
    PS02-1123 Seltorexant: A Safe and Well-Tolerated Adjunctive Treatment for Adolescent Major Depressive Disorder With Comparable Pharmacokinetics to Adults
    PS03-2143 Factors Associated With Long-Term Hypnotics Use in Depression
    Oral Presentation Developments in Adjunctive Treatment: Seltorexant Versus Quetiapine in Managing Major Depressive Disorder With Insomnia Symptoms
    Treatment-Resistant Depression
    PS02-1220 Efficacy and Safety of 4 Months of Treatment With Esketamine Nasal Spray Monotherapy in Adult Patients With Treatment-Resistant Depression
    PS01-0124 Early Dose Management and Up-Titration of Esketamine in the Double-Blind Induction Phase of the Randomized, Active-Controlled, Phase 3 TRANSFORM-2 Study
    PS04-3215 Expert Consensus on Decision-Making Factors for Continuation of Esketamine Nasal Spray in Treatment-Resistant Depression: A Delphi Method
    PS02-1216 ECHO: Study Design and Baseline Characteristics of a Non-Interventional Cohort Study of Esketamine Nasal Spray in Treatment-Resistant Depression
    PS02-1219 Patient Characteristics Associated With Relative Benefit of Esketamine Nasal Spray Versus Quetiapine Extended Release on Achieving Remission in ESCAPE-TRD Study
    PS02-1111 Evolution of Clinical Dimensions and Safety in Patients With Major Depressive Disorder Treated by Esketamine: The French Real-World ELLIPSE Study
    PS01-0076 Prevalence, Incidence, and Therapy of (Treatment-Resistant) Depression in Germany: A Sickness Funds Analysis
    Schizophrenia
    PS01-0220 Impact of Paliperidone Palmitate 1-Month and 3-Month Long-Acting Injectables on Clinical and Psychosocial Outcomes in Rwandan Patients With Schizophrenia
    PS04-3104 Lumateperone For The Prevention of Relapse in Patients with Schizophrenia: Results From a Double-Blind, Placebo-Controlled, Randomized Withdrawal, Phase 3 Trial

    ABOUT MAJOR DEPRESSIVE DISORDER (MDD)
    MDD is one of the most common psychiatric disorders and a leading cause of disability worldwide, impacting an estimated 332 million people – or about 4 percent of the population.8,9 In 2023, approximately 22 million adults in the U.S. had at least one major depressive episode.10 While depression is typically treated with a “one-size-fits-all” approach, no two cases are the same. MDD is a complex, heterogeneous disorder involving multiple regions of the brain and presenting with as many as 256 unique symptom combinations.1,2 As a result, responses to treatment vary widely. With current standard-of-care oral antidepressants, 2 in 3 people living with MDD continue to experience residual or persistent symptoms.11 Moreover, MDD is a risk factor for the development and worsening of a range of comorbidities, illustrating the importance of integrating mental and general health care.12

    Insomnia is one of the most common symptoms of MDD, affecting more than 80 percent of people living with MDD.13 Disturbed sleep and insomnia symptoms have a significant impact on a patient’s quality of life and exacerbate the risk of depressive relapse and suicide.14,15

    Approximately one-third of adults with MDD will not respond to oral antidepressants alone and are considered to have treatment-resistant depression (TRD), which is often defined as inadequate response to two or more oral antidepressants that were administered at an adequate dose for an adequate duration.16,17 TRD has a significant negative impact on the lives of those affected and has one of the highest economic burdens of all psychiatric disorders.17 Patients often cycle through multiple oral medications, waiting 4-6 weeks for potential relief.18 Based on the STAR*d study, after trying their third oral antidepressant, approximately 86 percent of patients do not achieve remission.18

    ABOUT CAPLYTA®
    CAPLYTA® (lumateperone) 42 mg is an oral, once daily atypical antipsychotic approved for the treatment of adults with schizophrenia, as well as depressive episodes associated with bipolar I or II disorder (bipolar depression), as monotherapy, and as adjunctive therapy with lithium or valproate.

    While its exact mechanism of action is unknown, CAPLYTA® is characterized by high serotonin 5-HT2A receptor occupancy and lower amounts of dopamine D2 receptor occupancy at therapeutic doses.

    A supplemental new drug application (sNDA) for CAPLYTA® as an adjunctive treatment for adults with major depressive disorder is currently under U.S. Food and Drug Administration review.

    ABOUT SELTOREXANT
    Seltorexant, an investigational first-in-class therapy, is a selective antagonist of the human orexin-2 receptor currently being developed as an adjunctive treatment for adults with MDD with insomnia symptoms. Seltorexant selectively antagonizes the orexin-2 receptors, potentially improving mood symptoms and restoring sleep without next-day sedation in patients with depression.19 When orexin-2 receptors are stimulated for too long or at inappropriate times, their activation can cause hyperarousal manifestations, including insomnia and excessive cortisol release, which may contribute to depression and insomnia.20,21 Seltorexant is the only investigational therapy being studied in MDD that is believed to work by normalizing the overactivation of the orexin-2 receptors, thereby addressing the underlying biology that contributes to depression and causes insomnia symptoms.

    ABOUT SPRAVATO®
    SPRAVATO® (esketamine) CIII nasal spray is approved by the U.S. Food and Drug Administration alone or in conjunction with an oral antidepressant for adults with MDD when they have inadequate response to at least two oral antidepressants (TRD) and depressive symptoms in adults with major depressive disorder with acute suicidal ideation or behavior in conjunction with an oral antidepressant. It is a non-selective, non-competitive antagonist of the N-methyl-D-aspartate (NMDA) receptor and is believed to work differently than traditional antidepressants by acting on a pathway in the brain that affects glutamate. The mechanism by which esketamine exerts its antidepressant effect is unknown. To date, SPRAVATO® has been approved in 79 markets and administered to more than 150,000 patients worldwide.

    ABOUT SCHIZOPHRENIA
    Schizophrenia is a complex, chronic brain disorder that affects how people think, feel, speak, and act. It affects up to an estimated 2.8 million adults in the U.S. yet remains widely misunderstood and insufficiently treated.22 Symptoms vary by person, but confusion and distortions in perceptions, emotions, and behavior are common.23 Evidence shows that the first three to five years after diagnosis – “the critical period” – from symptom onset are key for a patient’s treatment, as this is when the condition progresses most rapidly.24,25 A comprehensive treatment plan, which may include medication, therapy, and psychosocial services, can be critical in delaying the time to relapse for adults with schizophrenia.26

    ABOUT JOHNSON & JOHNSON’S SCHIZOPHRENIA PORTFOLIO
    Johnson & Johnson’s portfolio of schizophrenia therapies offers the broadest range of oral and long-acting injectable treatment options to support each patient’s individual treatment journey. The Company’s long-acting injectable treatments for adults with schizophrenia provides the most varied range of dosing options and the longest-lasting schizophrenia treatments with each dose available, including INVEGA SUSTENNA® (1-month paliperidone palmitate), INVEGA TRINZA® (3-month paliperidone palmitate), and INVEGA HAFYERA® (6-month paliperidone palmitate), all of which are administered in a clinical setting by a medical professional.23,24

    CAPLYTA® is a once-daily oral therapy approved to treat adults with schizophrenia. A supplemental New Drug Application (sNDA) for CAPLYTA® with long-term data evaluating the safety and efficacy of the medication for the prevention of relapse in schizophrenia was recently
    submitted to the U.S. Food and Drug Administration.

    CAPLYTA® IMPORTANT SAFETY INFORMATION

    CAPLYTA® (lumateperone) is indicated in adults for the treatment of schizophrenia and depressive episodes associated with bipolar I or II disorder (bipolar depression) as monotherapy and as adjunctive therapy with lithium or valproate.

    Important Safety Information

    Boxed Warnings:

    · Elderly patients with dementia-related psychosis treated with antipsychotic drugs are at an increased risk of death. CAPLYTA is not approved for the treatment of patients with dementia-related psychosis.
    · Antidepressants increased the risk of suicidal thoughts and behaviors in pediatric and young adults in short-term studies. All antidepressant-treated patients should be closely monitored for clinical worsening, and for emergence of suicidal thoughts and behaviors. The safety and effectiveness of CAPLYTA have not been established in pediatric patients.

    Contraindications: CAPLYTA is contraindicated in patients with known hypersensitivity to lumateperone or any components of CAPLYTA. Reactions have included pruritus, rash (e.g., allergic dermatitis, papular rash, and generalized rash), and urticaria.

    Warnings & Precautions: Antipsychotic drugs have been reported to cause:

    • Cerebrovascular Adverse Reactions in Elderly Patients with Dementia-Related Psychosis, including stroke and transient ischemic attack. See Boxed Warning above.
    • Neuroleptic Malignant Syndrome (NMS), which is a potentially fatal reaction. Signs and symptoms include: high fever, stiff muscles, confusion, changes in breathing, heart rate, and blood pressure, elevated creatinine phosphokinase, myoglobinuria (and/or rhabdomyolysis), and acute renal failure. Patients who experience signs and symptoms of NMS should immediately contact their doctor or go to the emergency room.
    • Tardive Dyskinesia, a syndrome of uncontrolled body movements in the face, tongue, or other body parts, which may increase with duration of treatment and total cumulative dose. TD may not go away, even if CAPLYTA is discontinued. It can also occur after CAPLYTA is discontinued.
    • Metabolic Changes, including hyperglycemia, diabetes mellitus, dyslipidemia, and weight gain. Hyperglycemia, in some cases extreme and associated with ketoacidosis, hyperosmolar coma or death, has been reported in patients treated with antipsychotics. Measure weight and assess fasting plasma glucose and lipids when initiating CAPLYTA and monitor periodically during long-term treatment.
    • Leukopenia, Neutropenia, and Agranulocytosis (including fatal cases). Complete blood counts should be performed in patients with pre-existing low white blood cell count (WBC) or history of leukopenia or neutropenia. CAPLYTA should be discontinued if clinically significant decline in WBC occurs in absence of other causative factors.
    • Decreased Blood Pressure & Dizziness. Patients may feel lightheaded, dizzy or faint when they rise too quickly from a sitting or lying position (orthostatic hypotension). Heart rate and blood pressure should be monitored and patients should be warned with known cardiovascular or cerebrovascular disease. Orthostatic vital signs should be monitored in patients who are vulnerable to hypotension.
    • Falls. CAPLYTA may cause sleepiness or dizziness and can slow thinking and motor skills, which may lead to falls and, consequently, fractures and other injuries. Patients should be assessed for risk when using CAPLYTA.
    • Seizures. CAPLYTA should be used cautiously in patients with a history of seizures or with conditions that lower seizure threshold.
    • Potential for Cognitive and Motor Impairment. Patients should use caution when operating machinery or motor vehicles until they know how CAPLYTA affects them.
    • Body Temperature Dysregulation. CAPLYTA should be used with caution in patients who may experience conditions that may increase core body temperature such as strenuous exercise, extreme heat, dehydration, or concomitant anticholinergics.
    • Dysphagia. CAPLYTA should be used with caution in patients at risk for aspiration.

    Drug Interactions: CAPLYTA should not be used with CYP3A4 inducers. Dose reduction is recommended for concomitant use with strong CYP3A4 inhibitors or moderate CYP3A4 inhibitors.

    Special Populations: Newborn infants exposed to antipsychotic drugs during the third trimester of pregnancy are at risk for extrapyramidal and/or withdrawal symptoms following delivery. Dose reduction is recommended for patients with moderate or severe hepatic impairment.

    Adverse Reactions: The most common adverse reactions in clinical trials with CAPLYTA vs. placebo were somnolence/sedation, dizziness, nausea, and dry mouth.

    CAPLYTA is available in 10.5 mg, 21 mg, and 42 mg capsules.

    Please click here to see full Prescribing Information including Boxed Warnings.

    SPRAVATO® IMPORTANT SAFETY INFORMATION

    What is SPRAVATO® (esketamine) CIII nasal spray? SPRAVATO® is a prescription medicine used:

    • with or without an antidepressant taken by mouth, to treat adults with treatment-resistant depression (TRD)
    • with an antidepressant taken by mouth, to treat depressive symptoms in adults with major depressive disorder (MDD) with suicidal thoughts or actions

    SPRAVATO® is not for use as a medicine to prevent or relieve pain (anesthetic). It is not known if SPRAVATO® is safe or effective as an anesthetic medicine.

    It is not known if SPRAVATO® is safe and effective for use in preventing suicide or in reducing suicidal thoughts or actions. SPRAVATO® is not for use in place of hospitalization if your healthcare provider determines that hospitalization is needed, even if improvement is experienced after the first dose of SPRAVATO®.

    It is not known if SPRAVATO® is safe and effective in children.

    IMPORTANT SAFETY INFORMATION
    What is the most important information I should know about SPRAVATO®?

    SPRAVATO® can cause serious side effects, including:

    • Sedation, dissociation, and respiratory depression. SPRAVATO® may cause sleepiness (sedation), fainting, dizziness, spinning sensation, anxiety, or feeling disconnected from yourself, your thoughts, feelings, space and time (dissociation), breathing problems (respiratory depression and respiratory arrest)
      • Tell your healthcare provider right away if you feel like you cannot stay awake or if you feel like you are going to pass out.
      • Your healthcare provider must monitor you for serious side effects for at least 2 hours after taking SPRAVATO®. Your healthcare provider will decide when you are ready to leave the healthcare setting.
    • Abuse and misuse. There is a risk for abuse and misuse with SPRAVATO®, which may lead to physical and psychological dependence. Your healthcare provider should check you for signs of abuse, misuse, and dependence before and during treatment.
      • Tell your healthcare provider if you have ever abused or been dependent on alcohol, prescription medicines, or street drugs.
      • Your healthcare provider can tell you more about the differences between physical and psychological dependence and drug addiction.
    • SPRAVATO® Risk Evaluation and Mitigation Strategy (REMS). Because of the risks for sedation, dissociation, respiratory depression and abuse and misuse, SPRAVATO® is only available through a restricted program called the SPRAVATO® Risk Evaluation and Mitigation Strategy (REMS) Program. SPRAVATO® can only be administered at healthcare settings certified in the SPRAVATO® REMS Program. Patients treated in outpatient healthcare settings (such as medical offices and clinics) must be enrolled in the program.
    • Increased risk of suicidal thoughts and actions. Antidepressant medicines may increase suicidal thoughts and actions in some people 24 years of age and younger, especially within the first few months of treatment or when the dose is changed. SPRAVATO® is not for use in children.
      • Depression and other serious mental illnesses are the most important causes of suicidal thoughts and actions. Some people may have a higher risk of having suicidal thoughts or actions. These include people who have (or have a family history of) depression or a history of suicidal thoughts or actions.
    • How can I watch for and try to prevent suicidal thoughts and actions in myself or a family member?

    o Pay close attention to any changes, especially sudden changes, in mood, behavior, thoughts, or feelings, or if you develop suicidal thoughts or actions.
    o Tell your healthcare provider right away if you have any new or sudden changes in mood, behavior, thoughts, or feelings, or if you develop suicidal thoughts or actions.
    o Keep all follow-up visits with your healthcare provider as scheduled. Call your healthcare provider between visits as needed, especially if you have concerns about symptoms.

    Tell your healthcare provider or get emergency help right away if you or your family member have any of the following symptoms, especially if they are new, worse, or worry you:

    · thoughts about suicide or dying
    · new or worse depression
    · feeling very agitated or restless
    · trouble sleeping (insomnia)
    · acting aggressive, being angry or violent
    · an extreme increase in activity and talking (mania)
    · suicide attempts
    · new or worse anxiety
    · panic attacks
    · new or worse irritability
    · acting on dangerous impulses
    · other unusual changes in behavior or mood

    Do not take SPRAVATO® if you:

    • have blood vessel (aneurysmal vascular) disease (including in the brain, chest, abdominal aorta, arms and legs)
    • have an abnormal connection between your veins and arteries (arteriovenous malformation)
    • have a history of bleeding in the brain
    • are allergic to esketamine, ketamine, or any of the other ingredients in SPRAVATO®.

    If you are not sure if you have any of the above conditions, talk to your healthcare provider before taking SPRAVATO®.

    Before you take SPRAVATO®, tell your healthcare provider about all of your medical conditions, including if you:

    • have heart or brain problems, including:
      • high blood pressure (hypertension)
      • slow or fast heartbeats that cause shortness of breath, chest pain, lightheadedness, or fainting
      • history of heart attack
      • history of stroke
      • heart valve disease or heart failure
      • history of brain injury or any condition where there is increased pressure in the brain
    • have liver problems
    • have ever had a condition called “psychosis” (see, feel, or hear things that are not there, or believe in things that are not true).
    • are pregnant or plan to become pregnant. SPRAVATO® may harm your unborn baby. You should not take SPRAVATO® if you are pregnant.
      • Tell your healthcare provider right away if you become pregnant during treatment with SPRAVATO®.
      • If you are able to become pregnant, talk to your healthcare provider about methods to prevent pregnancy during treatment with SPRAVATO®.
      • There is a pregnancy registry for women who are exposed to SPRAVATO® during pregnancy. The purpose of the registry is to collect information about the health of women exposed to SPRAVATO® and their baby. If you become pregnant during treatment with SPRAVATO®, talk to your healthcare provider about registering with the National Pregnancy Registry for Antidepressants at 1-844-405-6185 or online at 
        https://womensmentalhealth.org/clinical-and-research- programs/pregnancyregistry/antidepressants/.
    • are breastfeeding or plan to breastfeed. SPRAVATO® passes into your breast milk. You should not breastfeed during treatment with SPRAVATO®.

    Tell your healthcare provider about all the medicines that you take, including prescription and over-the-counter medicines, vitamins and herbal supplements. Taking SPRAVATO® with certain medicine may cause side effects.

    Especially tell your healthcare provider if you take central nervous system (CNS) depressants, psychostimulants, or monoamine oxidase inhibitors (MAOIs) medicines. Keep a list of them to show to your healthcare provider and pharmacist when you get a new medicine.

    How will I take SPRAVATO®?

    • You will take SPRAVATO® nasal spray yourself, under the supervision of a healthcare provider in a healthcare setting. Your healthcare provider will show you how to use the SPRAVATO® nasal spray device.
    • Your healthcare provider will tell you how much SPRAVATO® you will take and when you will take it.
    • Follow your SPRAVATO® treatment schedule exactly as your healthcare provider tells you to.
    • During and after each use of the SPRAVATO® nasal spray device, you will be checked by a healthcare provider who will decide when you are ready to leave the healthcare setting.
    • You will need to plan for a caregiver or family member to drive you home after taking SPRAVATO®.
    • If you miss a SPRAVATO® treatment, your healthcare provider may change your dose and treatment schedule.
    • Some people taking SPRAVATO® get nausea and vomiting. You should not eat for at least 2 hours before taking SPRAVATO® and not drink liquids at least 30 minutes before taking SPRAVATO®.
    • If you take a nasal corticosteroid or nasal decongestant medicine take these medicines at least 1 hour before taking SPRAVATO®.

    What should I avoid while taking SPRAVATO®?

    Do not drive, operate machinery, or do anything where you need to be completely alert after taking SPRAVATO®. Do not take part in these activities until the next day following a restful sleep. See “What is the most important information I should know about SPRAVATO®?”

    What are the possible side effects of SPRAVATO®?

    SPRAVATO® may cause serious side effects including:

    See “What is the most important information I should know about SPRAVATO®?”

    Increased blood pressure. SPRAVATO® can cause a temporary increase in your blood pressure that may last for about 4 hours after taking a dose. Your healthcare provider will check your blood pressure before taking SPRAVATO® and for at least 2 hours after you take SPRAVATO®. Tell your healthcare provider right away if you get chest pain, shortness of breath, sudden severe headache, change in vision, or seizures after taking SPRAVATO®.

    Problems with thinking clearly. Tell your healthcare provider if you have problems thinking or remembering.

    Bladder problems. Tell your healthcare provider if you develop trouble urinating, such as a frequent or urgent need to urinate, pain when urinating, or urinating frequently at night.

    The most common side effects of SPRAVATO® include:

    · feeling disconnected from yourself, your thoughts, feelings and things around you

    · dizziness

    · nausea

    · feeling sleepy

    · spinning sensation

    · decreased feeling of sensitivity (numbness)

    · feeling anxious

    · lack of energy

    · increased blood pressure

    · vomiting

    · feeling drunk

    · headache

    · feeling very happy or excited

    If these common side effects occur, they usually happen right after taking SPRAVATO® and go away the same day.

    These are not all the possible side effects of SPRAVATO®.

    Call your doctor for medical advice about side effects. You may report side effects to Johnson & Johnson at 1-800-526-7736, or to the FDA at 1-800-FDA-1088.

    Please see full 
    Prescribing Information, including Boxed WARNINGS, and 
    Medication Guide for SPRAVATO® and discuss any questions you may have with your healthcare provider.

    cp-170363v4

    INVEGA SUSTENNA®, INVEGA TRINZA®, INVEGA HAFYERA® IMPORTANT SAFETY INFORMATION

    INDICATIONS

    INVEGA HAFYERA® (6-month paliperidone palmitate) is a prescription medicine given by injection every 6 months by a healthcare professional and used to treat schizophrenia. INVEGA HAFYERA® is used in adults who have been treated with either:

    • INVEGA SUSTENNA® (paliperidone palmitate) a 1-time-each-month paliperidone palmitate extended-release injectable suspension for at least 4 months
    • INVEGA TRINZA® (paliperidone palmitate) a 1-time-every-3-months paliperidone palmitate extended-release injectable suspension for at least 3 months

    INVEGA TRINZA® is a prescription medicine given by injection every 3 months by a healthcare professional and used to treat schizophrenia. INVEGA TRINZA® is used in people who have been adequately treated with INVEGA SUSTENNA® for at least 4 months.

    INVEGA SUSTENNA® is a prescription medicine given by injection by a healthcare professional.

    INVEGA SUSTENNA® is used to treat schizophrenia in adults.

    INVEGA SUSTENNA®, INVEGA TRINZA®, INVEGA HAFYERA® IMPORTANT SAFETY INFORMATION
    What is the most important information I should know about INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA®?

    INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® may cause serious side effects, including:

    • Increased risk of death in elderly people with dementia-related psychosis.
      INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® increase the risk of death in elderly people who have lost touch with reality (psychosis) due to confusion and memory loss (dementia). INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® are not for the treatment of people with dementia-related psychosis.

    Do not receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® if you are allergic to paliperidone, paliperidone palmitate, risperidone, or any of the ingredients in INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®. See the end of the Patient Information leaflet in the full Prescribing Information for a complete list of INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® ingredients.

    Before you receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®, tell your healthcare professional about all your medical conditions, including if you:

    • have had Neuroleptic Malignant Syndrome (NMS)
    • have or have had heart problems, including a heart attack, heart failure, abnormal heart rhythm, or long QT syndrome
    • have or have had low levels of potassium or magnesium in your blood
    • have or have had uncontrolled movements of your tongue, face, mouth, or jaw (tardive dyskinesia)
    • have or have had kidney or liver problems
    • have diabetes or have a family history of diabetes
    • have Parkinson’s disease or a type of dementia called Lewy Body Dementia
    • have had a low white blood cell count
    • have had problems with dizziness or fainting or are being treated for high blood pressure
    • have or have had seizures or epilepsy
    • have any other medical conditions
    • are pregnant or plan to become pregnant. It is not known if INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® will harm your unborn baby
      • If you become pregnant while taking INVEGA HAFYERA®, INVEGA TRINZA® or
        INVEGA SUSTENNA®, talk to your healthcare professional about registering with the National Pregnancy Registry for Atypical Antipsychotics. You can register by calling 1-866-961-2388 or visit
        http://womensmentalhealth.org/clinical-and-research-programs/pregnancyregistry.
      • Infants born to women who are treated with INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® may experience symptoms such as tremors, irritability, excessive sleepiness, eye twitching, muscle spasms, decreased appetite, difficulty breathing, or abnormal movement of arms and legs. Let your healthcare professional know if these symptoms occur.
    • are breastfeeding or plan to breastfeed. INVEGA HAFYERA®, INVEGA TRINZA® or
      INVEGA SUSTENNA® can pass into your breast milk. Talk to your healthcare professional about the best way to feed your baby if you receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®.

    Tell your healthcare professional about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® may affect the way other medicines work, and other medicines may affect how INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® works.

    Your healthcare provider can tell you if it is safe to receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® with your other medicines. Do not start or stop any medicines during treatment with INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® without talking to your healthcare provider first. Know the medicines you take. Keep a list of them to show to your healthcare professional or pharmacist when you get a new medicine.

    Patients (particularly the elderly) taking antipsychotics with certain health conditions or those on long-term therapy should be evaluated by their healthcare professional for the potential risk of falls.

    How will I receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®?

    • Follow your treatment schedule exactly as your healthcare provider tells you to.
    • Your healthcare provider will tell you how much you will receive and when you will receive it.

    What should I avoid while receiving INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®?

    • INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® may affect your ability to make decisions, think clearly, or react quickly. Do not drive, operate heavy machinery, or do other dangerous activities until you know how INVEGA HAFYERA®, INVEGA TRINZA® or
      INVEGA SUSTENNA® affects you.
    • Avoid getting overheated or dehydrated.

    INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA® may cause serious side effects, including:

    • See “What is the most important information I should know about INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA®?”
    • stroke in elderly people (cerebrovascular problems) that can lead to death
    • Neuroleptic Malignant Syndrome (NMS). NMS is a rare but very serious problem that can happen in people who receive INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®. NMS can cause death and must be treated in a hospital. Call your healthcare professional right away if you become severely ill and have any of these symptoms: high fever; severe muscle stiffness; confusion; loss of consciousness; changes in your breathing, heartbeat, and blood pressure.
    • problems with your heartbeat. These heart problems can cause death. Call your healthcare professional right away if you have any of these symptoms: passing out or feeling like you will pass out, dizziness, or feeling as if your heart is pounding or missing beats.
    • uncontrolled movements of your tongue, face, mouth, or jaw (tardive dyskinesia)
    • metabolic changes. Metabolic changes may include high blood sugar (hyperglycemia), diabetes mellitus and changes in the fat levels in your blood (dyslipidemia), and weight gain.
    • low blood pressure and fainting
    • changes in your blood cell counts
    • high level of prolactin in your blood (hyperprolactinemia). INVEGA HAFYERA®,
      INVEGA TRINZA® or INVEGA SUSTENNA® may cause a rise in the blood levels of a hormone called prolactin (hyperprolactinemia) that may cause side effects including missed menstrual periods, leakage of milk from the breasts, development of breasts in men, or problems with erection.
    • problems thinking clearly and moving your body
    • difficulty swallowing that can cause food or liquid to get into your lungs
    • prolonged or painful erection lasting more than 4 hours. Call your healthcare professional or go to your nearest emergency room right away if you have an erection that lasts more than 4 hours.
    • problems with control of your body temperature, especially when you exercise a lot or spend time doing things that make you warm. It is important for you to drink water to avoid dehydration.

    The most common side effects of INVEGA HAFYERA® include: injection site reactions, weight gain, headache, upper respiratory tract infections, feeling restlessness or difficulty sitting still, slow movements, tremors, stiffness and shuffling walk.

    The most common side effects of INVEGA TRINZA® include: injection site reactions, weight gain, headache, upper respiratory tract infections, feeling restlessness or difficulty sitting still, slow movements, tremors, stiffness and shuffling walk.

    The most common side effects of INVEGA SUSTENNA® include: injection site reactions; sleepiness or drowsiness; dizziness; feeling of inner restlessness or needing to be constantly moving; abnormal muscle movements, including tremor (shaking), shuffling, uncontrolled involuntary movements, and abnormal movements of your eyes.

    Tell your healthcare professional if you have any side effect that bothers you or does not go away. These are not all the possible side effects of INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®. For more information, ask your healthcare professional or pharmacist.

    Call your healthcare professional for medical advice about side effects. You may report side effects of prescription drugs to the FDA at 1-800-FDA-1088.

    General information about the safe and effective use of INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA®

    Medicines are sometimes prescribed for purposes other than those listed in a Patient Information leaflet.

    Do not use INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® for a condition for which it was not prescribed. You can ask your pharmacist or healthcare professional for information about INVEGA HAFYERA®, INVEGA TRINZA® or INVEGA SUSTENNA® that is written for healthcare professionals.

    For more information, go to
    www.invegahafyera.com,
    www.invegatrinza.com or
    www.invegasustenna.com or call
    1-800-526-7736.

    Please click to read the full Prescribing Information, including Boxed WARNING, for
    INVEGA HAFYERA®,
    INVEGA TRINZA® and
    INVEGA SUSTENNA® and discuss any questions you have with your healthcare professional.

    cp-256259v4

    https://www.intracellulartherapies.com/docs/caplyta_pi.pdf

    ABOUT JOHNSON & JOHNSON
    At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity.

    Learn more at
    http://www.jnj.com or at
    www.innovativemedicine.jnj.com. Follow us at
    @JNJInnovMed.

    Cautions Concerning Forward-Looking Statements
    This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to CAPLYTA®, Seltorexant, SPRAVATO®, INVEGA HAFYERA®, INVEGA TRINZA® and INVEGA SUSTENNA®. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products, and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of healthcare products and services; changes to applicable laws and regulations, including global healthcare reforms; and trends toward healthcare cost containment. A further list and descriptions of these risks, uncertainties, and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

    Footnotes:

    1. Su YA and Si T. Progress and challenges in research of the mechanisms of anhedonia in major depressive disorder. Gen Psychiatr. 2022;35:e100724. doi: 10.1136/gpsych-2021-10072
    2. Pandya M, et al. Where in the Brain Is Depression? Curr Psychiatry Rep. 2012;14:634–642. doi: 10.1007/s11920-012-0322-7
    3. Clayton A, Earley W.R., Kozauer S.G, et al. Evaluation of Sexual Function With Adjunctive Lumateperone in Patients With Major Depressive Disorder. ECNP 2025, October 11-14, 2025. Presentation PS04-3102.
    4. Flossbach Y, Mesens S, Xia L, et al. Developments in Adjunctive Treatment: Seltorexant Versus Quetiapine in Managing Major Depressive Disorder With Insomnia Symptoms. ECNP 2025; October 11-14, 2025. Oral Presentation.
    5. Oliveira-Maia AJ, Baune BT, Bartova L, et al. Patient Characteristics Associated With Relative Benefit of Esketamine Nasal Spray Versus Quetiapine Extended Release on Achieving Remission in ESCAPE-‍TRD Study. ECNP 2025; October 11-14, 2025. Poster S02-1219.
    6. Llorca PM, Sauvaget A, Olie E, et al. Evolution of Clinical Dimensions and Safety in Patients Treated by Esketamine: Results The French Real-World ELLIPSE Study. ECNP 2025; October 11-14, 2025. Presentation PS02-1111.
    7. Young AH, Fagiolini A, Perry R, et al. Expert Consensus on Decision-Making Factors for Continuation of Esketamine Nasal Spray in Treatment-Resistant Depression: A Delphi Method. ECNP 2025; October 11-14, 2025. Poster PS04-3215.
    8. World Health Organization. Mental disorders. Accessed October 2025. https://www.who.int/news-room/fact-sheets/detail/mental-disorders
    9. National Alliance on Mental Health. Mental health by the numbers. Accessed October 2025. https://www.nami.org/about-mental-illness/mental-health-by-the-numbers/#:~:text=Millions%20of%20people%20are%20affected,represents%201%20in%205%20adults
    10. Key substance use and mental health indicators in the United States: results from the 2023 national survey on drug use and health. Center for Behavioral Health Statistics and Quality, Substance Abuse and Mental Health Services Administration. Published July 2024. Accessed October 2025. https://www.samhsa.gov/data/report/2023-nsduh-annual-national-report
    11. Rush AJ, Trivedi MH, Wisniewski SR, et al. Acute and longer-term outcomes in depressed outpatients requiring one or several treatment steps: a STAR*D report. Am J Psychiatry. 2006 Nov;163(11):1905-17. doi: 10.1176/ajp.2006.163.
    12. Arnaud AM, Brister TS, Duckworth K, et al. Impact of major depressive disorder on comorbidities: a systematic literature review. J Clin Psychiatry. 2022;83(6):21r14328.
    13. Nutt D, Wilson S, Paterson L. Sleep disorders are core symptoms of depression. Dialogues Clin Neurosci. 2008 Sep; 10(3): 329–336.
    14. Taddei-Allen P. Economic Burden and Managed Care Considerations for the Treatment of Insomnia. AJMC. Updated April 12, 2020. Accessed October 2025. https://www.ajmc.com/view/economic-burden-and-managed-care-considerations-for-the-treatment-of-insomnia
    15. Ağargün MY, Kara H, Solmaz M. Sleep disturbances and suicidal behavior in patients with major depression. J Clin Psychiatry. 1997;58(6):249-51.
    16. National Institute of Mental Health. Major Depression. Accessed October 2025. https://www.nimh.nih.gov/health/statistics/major-depression
    17. Zhdanava M, Pilon D, Ghelerter I, et al. The prevalence and national burden of treatment-resistant depression and major depressive disorder in the United States. J Clin Psychiatry. 2021;82(2):20m13699. doi: 10.4088/JCP.20m13699
    18. Sanacora G, Zarate C, Krystal J, et al. Targeting the glutamatergic system to develop novel, improved therapeutics for mood disorders. Nat Rev Drug Discov. 2008;7(5):426-437. doi:10.1038/nrd2462
    19. Recourt K, de Boer P, Zuiker R, et al. The selective orexin-2 antagonist seltorexant (JNJ-42847922/MIN-202) shows antidepressant and sleep-promoting effects in patients with major depressive disorder [published correction appears in Transl Psychiatry. 2019 Oct 2;9(1):240. doi: 10.1038/s41398-019-0585-4].
    20. Nollet M, Leman S. Role of orexin in the pathophysiology of depression: potential for pharmacological intervention. CNS Drugs. 2013;27(6):411-422. doi:10.1007/s40263-013-0064-z
    21. Brooks S, Jacobs GE, de Boer P, et al. The selective orexin-2 receptor antagonist seltorexant improves sleep: An exploratory double-blind, placebo controlled, crossover study in antidepressant-treated major depressive disorder patients with persistent insomnia. J Psychopharmacol. 2019;33(2):202-209. doi:10.1177/0269881118822258
    22. Treatment Advocacy Center. Schizophrenia Fact Sheet. Accessed October 2025. www.tac.org/reports_publications/schizophrenia-fact-sheet/.
    23. Tandon, Rajiv et al. “The schizophrenia syndrome, circa 2024: What we know and how that informs its nature.” Schizophrenia research vol. 264 (2024): 1-28. doi:10.1016/j.schres.2023.11.015
    24. Birchwood, M. “Early intervention and sustaining the management of vulnerability.” The Australian and New Zealand Journal of Psychiatry. vol. 34 Suppl (2000): S181-4. doi:10.1080/000486700241
    25. National Alliance on Mental Illness. Understanding Schizophrenia. Accessed October 2025. Understanding Schizophrenia | NAMI: National Alliance on Mental Illness. Accessed October 2025. https://www.nami.org/early-onset-schizophrenia/understanding-schizophrenia/
    26. Alphs L, et al. Factors associated with relapse in schizophrenia despite adherence to long-acting injectable therapy. Int Clin Psychopharmacol. 2016;31(4)202-209. doi:10.1097/YIC.0000000000000125

    © Johnson & Johnson 2025. All rights reserved.


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  • IMF Reaches Staff-Level Agreement on the Fifth Review of the Extended Credit Facility with Ghana – International Monetary Fund

    1. IMF Reaches Staff-Level Agreement on the Fifth Review of the Extended Credit Facility with Ghana  International Monetary Fund
    2. IMF staff agree Ghana programme review that could unlock $385 million  Reuters
    3. Energy sector fix gains momentum with legacy arrears, IPP deals renegotiated – IMF  MyJoyOnline
    4. IMF set to announce staff-level agreement with Ghana after successful fifth programme review  Modern Ghana
    5. Ghana nears completion of IMF fifth review, eyes $360m final tranche  GhanaWeb

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  • From complexity to clarity: AIOps across cloud deployments using IBM products

    From complexity to clarity: AIOps across cloud deployments using IBM products





    From complexity to clarity: AIOps across cloud deployments using IBM products – Capgemini

























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  • BESTSELLER marks 50 years with solid results

    This year marks an important milestone for BESTSELLER. The company was founded in 1975, when Merete Bech Povlsen and Troels Holch Povlsen opened their first store in Ringkøbing, Denmark. Half a century later, what began as a single store has grown into the BESTSELLER we know today.

    One shop has expanded into more than 2,800 stores worldwide. One shop assistant in Ringkøbing has become 25,000 colleagues across 90 countries. And in 2025, BESTSELLER – named after acquiring a store in Aarhus in 1980 – celebrates its 50th anniversary as a Danish fashion company.

    “This has been a special year for us, as we celebrate reaching a milestone none of us could have imagined when the first shop opened in 1975. Since then, BESTSELLER has been defined by the people who work here. It is through the values, passion, dedication, and integrity our colleagues embody that we have succeeded. They deserve the greatest thanks,” says Anders Holch Povlsen, CEO and owner of BESTSELLER.

    In the 2024–2025 financial year, BESTSELLER’s revenue grew by seven percent, reaching 38 billion DKK – the highest in the company’s history. Pre-tax profit increased by 10 percent to 5.9 billion DKK compared with the previous financial year. BESTSELLER’s total tax contribution amounts to 8.7 billion DKK.

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  • BASF and Carlyle reach binding transaction agreement on coatings business to create a leading standalone company – Carlyle

    1. BASF and Carlyle reach binding transaction agreement on coatings business to create a leading standalone company  Carlyle
    2. Carlyle nears €7bn deal for BASF unit  Financial Times
    3. Carlyle : BASF and Carlyle reach binding transaction agreement on coatings business to create a leading standalone company  MarketScreener
    4. Who might buy BASF Coatings? Industry views beyond Carlyle  European Coatings
    5. Carlyle is front-runner to buy BASF’s coatings business, says source  Reuters

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  • Baker McKenzie Cairo Legal Counsel to The Arab Energy Fund on Strategic Investment in Tagaddod, a Tech-Powered Biofuel Feedstocks Platform | Newsroom

    Baker McKenzie Cairo Legal Counsel to The Arab Energy Fund on Strategic Investment in Tagaddod, a Tech-Powered Biofuel Feedstocks Platform | Newsroom

    Baker McKenzie Cairo has acted as lead legal counsel to The Arab Energy Fund on its strategic investment in Tagaddod, the tech-powered biofuel feedstocks platform operating across Africa, Asia and Europe. The investment was made through Series A funding round led by The Arab Energy Fund (TAEF) and included FMO, VKAV and A15.

    The transaction marks a key milestone in The Arab Energy Fund’s commitment to advancing innovative and sustainable solutions in the energy and environmental sectors. The deal was successfully completed in September 2025.

    Leading the transaction, Hani Nassef, Partner and Head of M&A at Baker McKenzie Cairo, commented: “We are proud to have supported The Arab Energy Fund on this impactful investment that aligns with their regional sustainability goals. By bringing together our teams in Cairo, Riyadh and Amsterdam, we were able to deliver strategic, coordinated advice that supported our client’s objectives and ensured a smooth execution”.

    Baker McKenzie Cairo provided comprehensive legal counsel across all stages of the transaction, including deal structuring, regulatory advisory and closing. The team was led by Hani Nassef, with key support from Bassem Abdelrahman and Hala Mohamed, and was part of a cross-border team that included colleagues from Baker McKenzie’s Saudi Arabia office including Karim Nassar and Rami Younes as well as the Dutch offices, including Koen Bos, Suzanne van Balen and Hein Blaauwendraad, reflecting the firm’s integrated global approach to complex transactions.

    This transaction is a great example of our distinguished cross-border capabilities in M&A mandates, reflecting the consistent quality of work delivered by Baker McKenzie in the M&A domain.

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    1. Bitcoin, Ethereum, Solana Fall as Cryptos End Week Lower. XRP Edges Up.  Barron’s
    2. Trader Rai(@Trader_Rai)’s insights  Binance
    3. Bitcoin’s October Trends: Implications for Crypto Payroll Solutions  OneSafe
    4. Bitcoin Price Decline Could Be a Major Opportunity for MAGACOIN FINANCE and the Altcoin Market  CoinCentral
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  • Repowering wind turbines under simplified rules

    Repowering wind turbines under simplified rules


    Leaving Dentons

    Beijing Dacheng Law Offices, LLP (“大成”) is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons’ Preferred Law Firm in China, with offices in more than 40 locations throughout China. Dentons Group (a Swiss Verein) (“Dentons”) is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.

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  • Inside the boardroom drama that is shaking up India’s Tata empire

    Inside the boardroom drama that is shaking up India’s Tata empire

    A dispute in the boardroom of Tata Trusts has shaken the Indian corporate world — and its tremors have reached Delhi.

    Tata Trusts is the philanthropic body that controls 66% of Tata Sons — the holding company of Tata Group’s 26 listed companies with a combined market cap of $368 billion.

    On Tuesday night, television channels in India broadcast footage of Noel Tata, the chairman of Tata Trusts, meeting with Home Minister Amit Shah at his residence.

    Local media reports said Finance Minister Nirmala Sitharaman, Tata Sons Chairman N Chandrasekaran, and trustees Darius Khambatta and Venu Srinivasan were also present at the meeting.

    While Tata Sons and Tata Trusts have not issued any official statement on what transpired at the minister’s residence, it is widely reported that a power struggle is brewing inside one of India’s most powerful business empires.

    Salt-to-steel conglomerate Tata Group, which also owns iconic brands including Taj Hotels, Jaguar Land Rover and Tetley Tea, is not just a business powerhouse. It also actively supports many government investment directives — its latest being an $11 billion investment in setting up India’s first semiconductor fabrication unit.

    In addition, it’s a crucial part of many of the country’s supply chains — it makes Apple iPhones in India, for example — and employs over 1 million people.

    A Tata logo in Mumbai, India.

    Bloomberg | Bloomberg | Getty Images

    So, when the Tata Trusts board meets later Friday for the first time since reports of an internal power struggle first surfaced, many investors — and the government — will hope that the boardroom battle gets resolved.

    “One hopes that the trustees see that the underlying philosophy and glide path for the Tata Trusts is to continue its charity efforts and let Tata Sons contribute financially to these efforts,” said Shriram Subramanian, founder of corporate governance research and proxy advisory firm InGovern Research Services.

    CNBC has contacted Tata Sons, Tata Trust and India’s Finance Ministry for comment but has yet to hear back.

    Trustees ‘feel their powers have been reduced’

    At the center of the current discord, according to a source, is the fact that Tata Sons is supposed to receive prior approval from Tata Trusts for any major financial investments. The source says this approval is not being sought.

    “There is a clause that says any investment Tata Sons makes above INR 100 crore ($11 million) requires the approval of Tata Trustees,” the industry source, speaking on condition of anonymity due to the sensitive nature of the topic, told CNBC. “This has not been the case for several years, and some of the Trustees feel their powers have been reduced.”

    This simmering discontent reportedly came to a head last month, when four trustees of the Tata Trust, including Mehli Mistry, opposed the reappointment of trustee Vijay Singh to the Tata Sons board.

    Tata Trusts has three seats on the board of Tata Sons.

    Following Singh’s ouster, the other two Tata Sons board members opposed Mistry’s appointment to the third seat, according to the industry source.

    “As the dominant shareholder, Tata Trusts has the right to nominate directors to Tata Sons board, where one seat currently remains vacant,” Hetal Dalal, president of Mumbai-based Institutional Investor Advisory Services India, which monitors corporate governance and ESG issues, told CNBC.

    Not the first time

    There is also concern over the extent of influence the Trust seeks to exert over Tata Sons’ capital allocation decisions, according to Dalal. “While such decisions fall squarely within the purview of Tata Sons’ board, misalignment between the board and its principal shareholder [Tata Trusts] does not bode well.”

    This is the second time in less than a decade that India’s oldest conglomerate has seen a power battle relating to the influence of Tata Trust over Tata Sons.

    The last time was when Tata Sons Chairman Cyrus Mistry was removed from his position unceremoniously in 2016, and replaced by Ratan Tata, then-chairman of Tata Trusts, to also serve as interim chairman of Tata Sons.

    Ratan Tata (C) and Cyrus Mistry (R) meet with then-Commerce and Industry Minister Anand Sharma (L) in 2011.

    Hindustan Times | Hindustan Times | Getty Images

    Days after his removal, Mistry shared a five-page letter with the media, alleging that he had become a “lame duck” chairman due to constant interference of Tata Trusts in the business decisions of Tata Sons.

    Tata Sons followed this with an equally detailed press release accusing Mistry of running the business badly and even trying to usurp control of operating companies.

    Both sides of the argument denied the other’s allegations.

    It’s now been a year since the death of Ratan Tata and three years since Cyrus Mistry died in a car crash, but the debate over the influence of Tata Trusts on Tata Sons has not been put to rest.

    “The group must establish a formal mechanism that governs information sharing, board nominations, and the Trusts’ role in influencing capital allocation,” Dalal said.

    The exit 

    Another way the issue might be resolved is if the Reserve Bank of India enforces its mandate, which requires Tata Sons to list publicly under its scale-based regulatory framework introduced in 2022.

    Tata Sons was required to list by Sept. 30, but the company has been given a temporary leeway by the central bank.

    The listing of Tata Sons will deepen the red lines between Tata Trusts and Tata Sons, the industry source told CNBC, adding that after going public, the board of Tata Sons will run the company completely and Tata Trusts will be reduced to “just a shareholder.”

    Under the current structure, the chairman of Tata Sons serves as the chairman of all Tata Group companies, while the chairman of Tata Trusts, which holds 66% stake in Tata Sons, can exercise control over the affairs of Tata Sons, including the selection of the chairman, said the source.

    “I don’t think the group wants to list Tata Sons — but they will need to find a way to provide an exit to the SP group,” said Dalal.

    The Shapoorji Pallonji Group or SP Group owns a stake of just over 18% in Tata Sons, making it its largest private investor. The group is owned by the late Cyrus Mistry’s family and chaired by his brother Shapoor Mistry.

    Ties between Shapoorji Pallonji Group and the Tatas run deep, not just business-wise but also personally.

    Mehli Mistry is the cousin of Cyrus Mistry, but supported Ratan Tata during the removal of Cyrus as the chairman of the Tata Sons board. Meanwhile, Noel Tata, the current chairman of Tata Trust, is married into the Pallonji Mistry family, which owns SP Group.

    SP Group has been seeking an exit from Tata Sons, but has been unable to due to the illiquid nature of its shares.

    “They want to sell their shareholdings in Tata Sons to clear their indebtedness,” said Ajay Rotti, founder of regulatory advisory firm Tax Compass, hinting at ongoing debt concerns at SP Group.

    Its investment in Tata Sons is sizeable and could rake in billions of dollars; finding a buyer if it were listed would be easier, due to better liquidity.

    SP Group’s exit would be a relief for Tata Sons after relations between the two companies soured over Cyrus Mistry’s abrupt dismissal.

    But Tata’s concern is that the sale of an 18% stake could leave Tata Sons vulnerable to takeover attempts, adding to their reluctance to list, Tax Compass’ Rotti said.

    According to local media reports, Tata Trusts and Tata Sons are in talks to provide a part-exit to SP Group.

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  • Google may be forced to make changes to search engine in UK

    Google may be forced to make changes to search engine in UK

    Google may have to make changes in the UK so people have more choice over which search engine they use, following a landmark decision from the regulator.

    The Competition and Markets Authority (CMA) has designated Google with “strategic market status” under a law which came into force in January.

    The decision does not mean the regulator has found wrongdoing at this stage.

    Instead, it opens the door to what it called “proportionate, targeted interventions” to ensure the market is competitive.

    Google has warned against any measures which its says might “inhibit UK innovation and growth.”

    The CMA said it expected to begin a consultation on what changes might be introduced later in 2025.

    In response to the announcement, Google has attempted to emphasise what it sees as the advantages of the regulatory status quo.

    “UK businesses and consumers have been amongst the first to benefit from Google’s innovations, often months before their European counterparts,” Google’s competition boss Oliver Bethell wrote in a blog post.

    “As a result, they see significant value: Google Search contributes billions of pounds a year to the UK economy — £118 billion in 2023 alone.

    “Many of the ideas for interventions that have been raised in this process would inhibit UK innovation and growth, potentially slowing product launches at a time of profound AI-based innovation.”

    The CMA said Google’s market dominance was unquestionable.

    “We have found that Google maintains a strategic position in the search and search advertising sector – with more than 90% of searches in the UK taking place on its platform,” CMA digital markets boss Will Hayter said.

    “Having taken into account the feedback received following our proposed decision, we have today designated Google’s search services with strategic market status.”

    The CMA previously unveiled what it called a “roadmap” of potential measures it could take if Google was found to have significant market status.

    It said it could potentially force the tech giant to include “choice screens” which would let users see alternative search providers, as well as giving publishers more control over how their content was used.

    It also included what it called “fair principles” for how websites are ranked in search results, and an “effective complaints process” for businesses unhappy about their listing.

    The move has been well-received by consumer groups, with Which? policy boss Rocio Concha calling it “an important step”.

    “The CMA’s careful evidence gathering makes a compelling argument,” she said.

    “Online search is evolving as GenAI tools become more widely used, but the CMA must still act to tackle the harmful dominance Google has now.”

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