Investment of EUR 175 million reaffirms Sandoz commitment to long-term leadership in off-patent medicines
New penicillin production process will significantly improve ecological footprint and help secure European-based supply
Cutting-edge development hub will play key role in supporting long-term growth of leading biosimilar business
Basel, November 10, 2023 – Sandoz, the global leader in generic and biosimilar medicines, has opened two new European facilities, in line with its ongoing plans to strengthen sustainable development and supply of critical medicines in Europe and beyond.
The inauguration of a new facility for production of penicillin at Kundl, Austria, and a new biosimilar development center in Holzkirchen, Germany, reaffirm the dual Sandoz commitment to ensuring sustainable access to quality antibiotics and spearheading development of biosimilars.
Sandoz has the only major remaining vertically-integrated production network for penicillins in Europe; penicillins are the leading category of antibiotics worldwide. The EUR 150 million Kundl investment, which includes a contribution of EUR 50 million from the Austrian federal government, represents a significant upgrade of penicillin API (active pharmaceutical ingredient) manufacturing.
Richard Saynor, CEO Sandoz said: “These investments strengthen our industrial presence in Europe, reinforce our commitment to environmental responsibility, and reaffirm our determination to be the world’s leading and most valued generics and biosimilars company. Antibiotics are the backbone of modern medicine and the Kundl plant is a testament to the resilience of European manufacturing. The new development center in Holzkirchen will become a global hub for biosimilar expertise.”
The EUR 25 million Holzkirchen investment will pave the way for the German site to become the leading Sandoz analytical characterization center for biosimilars.
The Austrian federal and Bavarian state governments have been highly supportive of these projects, recognizing their importance for ensuring availability of medicines and advancing medical research in Europe.
Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
About Sandoz
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. 22,000 people of more than 100 nationalities work together to bring Sandoz medicines to some 500 million patients worldwide, generating substantial global healthcare savings and an even larger total social impact. Its leading portfolio of more than 1500 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to the year 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the first biosimilar in 2006. In 2022, Sandoz achieved sales of USD 9.1 billion and core EBITDA of USD 1.9 billion.
Mermec: Leader in railway network maintenance technology showcased at Tokyo exhibition
After consolidating its presence in Japan, Mermec continues its long-standing investment and growth plan.
ROME, Nov. 10, 2023 (GLOBE NEWSWIRE) — The Mermec Group, an Italian leader specializing in technologies for the safety and maintenance of railway networks, is the sole company representing Italy at one of the major Asian exhibitions focused on railway technology: Mass-Trans Innovation Japan (stand F30). The company, a part of Angel (a holding that develops solutions for the rail, digital mechatronics, and aerospace sectors), will be at the exhibition in Tokyo until November 10, 2023, presenting the latest innovative solutions in the fields of diagnostics and maintenance engineering.
After consolidating its presence in Japan, Mermec continues its long-standing investment and growth plan. Following the recent strategic agreements with some of the major players in the Japanese railway landscape, the group, through Mermec Japan, announced the launch of a unique collaboration in the railway sector with a significant Japanese operator. This collaboration will unfold within a high-tech Research & Development framework.
“Our presence in Japan has grown significantly thanks to the strategic partnerships we have established, and this new initiative will further solidify our position in the local railway sector,” stated Giuseppe Aurisicchio, Executive Manager of Mermec Japan. He added: “The new collaboration with a major Japanese operator represents a significant step forward in our research and development journey, enabling the sharing and dissemination of best practices, know-how, and the excellence of Italian innovation in Asia.”
Mermec, present with its solutions in 73 countries worldwide, is the only Italian company in the railway sector to have provided, managed, and maintained diagnostic and measurement systems in Japan through Mermec Japan. The company was established in 2017 and is composed of a group of experts with a significant and rapidly growing order portfolio in Japan and other Asia-Pacific countries.
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Paycom Software, Inc. (NYSE: PAYC) resulting from allegations that Paycom may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Paycom securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT IS THIS ABOUT: On October 31, 2023, after market hours, Paycom reported its financial results for the third quarter of 2023 and provided financial projections for 2024. In response to Paycom’s reported financial results and projections, MarketWatch released an article entitled “Paycom’s stock plunges 32% as payroll company whiffs on earnings outlook”, which stated that “Paycom expects 10% to 12% revenue growth in 2024. Analysts had previously been modeling a 21% rise. Then on November 1, 2023, during market hours, Reuters released an article entitled “Paycom’s weak revenue forecast hammers stock to nearly five-year low.” The article stated that “[c]ompany executives said a jump in usage of its flagship product Beti, which increases efficiency for clients by letting their employees do their own payroll, was ‘cannibalizing’ some revenues it would have otherwise earned.”
On this news, Paycom’s stock price fell $94.28 per share, or 38%, to close at $150.69 per share on November 1, 2023, on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of James River Group Holdings, Ltd. (NASDAQ: JRVR) resulting from allegations that James River may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased James River securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT IS THIS ABOUT: On November 8, 2023, before market hours, James River announced non-reliance on previously issued financial statements or a related audit report or completed interim review. The press release stated, “[i]n preparing its Quarterly Report on Form 10-Q for the period ended September 30, 2023, management of the Company identified an error in the accounting for reinstatement premium on a specialty casualty reinsurance treaty in its Excess & Surplus Lines segment in the Company’s previously issued condensed consolidated financial statements as of and for the three and six months ended June 30, 2023. This error resulted in understatements of ceded written premium, and overstatements of net written premium and net earned premium of $9.4 million and $12.3 million, respectively, and overstatements of net income of $7.8 million and $10.4 million, respectively within the condensed consolidated statements of income and comprehensive income (loss) for the three and six months ended June 30, 2023, as well as corresponding effects on the condensed consolidated balance sheet and consolidated statements of changes in shareholders’ equity as of and for the three and six months ended June 30, 2023. The Company’s management has assessed the effect of the foregoing on the Company’s internal control over financial reporting and disclosure controls and procedures. The Company’s control over the review of the determination of when reinstatement premiums for reinsurance should be recognized did not operate effectively as of March 31, 2023 and June 30, 2023 resulting in a material weakness in the Company’s internal control over financial reporting.”
On this news, James River’s stock price fell $0.99 per share, or 7%, to close at $13.15 per share on November 8, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of XPEL, Inc. (NASDAQ: XPEL) resulting from allegations that XPEL may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased XPEL securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT IS THIS ABOUT: On October 19, 2023, Culper Research released a report on XPEL. In this report, Culper stated that it was shorting XPEL stock because it believed “the Company has grossly understated its reliance on Tesla”, and because it believed “the Company is concealing a massive undisclosed risk from its primary supplier which threatens to upend the Company’s entire reason for being.”
On this news, XPEL stock declined by $10.57 per share, or 17.2% on October 19, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Bitdeer to develop NVIDIA-accelerated GPU cloud capabilities to cater to unfulfilled demand for AI computing power
Bitdeer to Launch Asia-Based Cloud Service Built on NVIDIA DGX SuperPOD
Bitdeer to Launch Asia-Based Cloud Service Built on NVIDIA DGX SuperPOD
SINGAPORE, Nov. 10, 2023 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced that it has become a Preferred cloud service provider (CSP) in the NVIDIA Partner Network and plans to launch Bitdeer AI Cloud, among the first cloud services powered by NVIDIA DGX SuperPOD with DGX H100 systems in the Asia region. The service will provide Bitdeer’s customers with access to NVIDIA AI supercomputing to help them accelerate their development of generative AI, large language models (LLMs), and other AI workloads.
Rapid developments in machine learning, AI, and LLMs are creating a surging demand for powerful, reliable, and readily available cloud-based computing solutions. IDC[1] noted that the public cloud platform-as-a-service (PaaS) market delivered more than 32% annual growth in 2022, which points to the success that customers are achieving with cloud providers as strategic partners. In addition, burgeoning online gaming, livestreaming, and social media industries in Asia are exacerbating the supply-demand imbalance for computing power.
Bitdeer’s GPU cloud service builds on the Company’s extensive customer reach in Asia. Paired with its domain expertise in hash rate-sharing and cloud services, the service can equip businesses and entrepreneurs with state-of-the-art computing using the NVIDIA DGX platform.
Matt Linghui Kong, Chief Executive Officer of Bitdeer, commented, “We are excited to work with NVIDIA to lay the groundwork for the next era of AI and large language model advancements in Asia. Becoming a Preferred member of the NVIDIA Partner Network validates our technological competence and market reach. We look forward to collaborating with NVIDIA to empower businesses in Asia to innovate, grow, and prosper.”
“Generative AI empowers businesses to unlock unprecedented scalability, reliability, and innovation,” said Tony Paikeday, senior director of the DGX platform at NVIDIA, “With its NVIDIA DGX infrastructure, Bitdeer can provide the AI supercomputing and software needed to build and deploy generative AI models and services.”
Bitdeer, renowned for its global datacenter deployment capabilities, proficiency in high-performance machine operations, and extensive cloud service expertise, is in the process of methodically building its GPU cloud business. The Company’s designation as an NVIDIA Preferred partner will serve as a catalyst for the Company to develop its GPU cloud capabilities. Bitdeer’s strategic roadmap encompasses four phases: Infrastructure as a Service (IaaS), Platform-as-a-Service (PaaS), Software as a Service (SaaS), and Application as a Service (AaaS).
Infrastructure-as-a-Service (IaaS): Bitdeer is gearing up to provide high-performance GPU cloud infrastructure to serve as the bedrock for AI-driven initiatives. This infrastructure will empower organizations to efficiently harness the full potential of GPUs, facilitating seamless execution of complex AI workloads.
Platform-as-a-Service (PaaS): Expanding on its infrastructure capabilities, Bitdeer is actively developing a comprehensive GPU-as-a-Service platform, simplifying the deployment and management of AI applications. This platform will offer the flexibility and scalability that businesses need to smoothly implement and build out AI solutions and capitalize on the fast-growing PaaS market, which is projected to reach US$352.2 billion globally by 2030[2].
Software-as-a-Service (SaaS): Bitdeer is fully committed to offering turnkey AI solutions tailored to a wide array of industries. By providing AI software services, Bitdeer seeks to democratize AI, making it accessible to organizations of all sizes and eliminating the complexities of in-house development. Users will also have the option to deploy their own models and offer external services.
Application-as-a-Service (AaaS): Between 2023 and 2032, the Asia Pacific API market is expected to have the highest CAGR globally[3]. In an effort to foster AI innovation, Bitdeer is set to craft API services that will enable businesses to easily introduce AI into their existing workflows. Bitdeer will offer an intuitive and efficient development platform and allow users to not only deploy custom APIs with ease, but also achieve seamless integration and interfacing with existing applications.
Building on the foundations of existing blockchain technology and high-performance computing capabilities, Bitdeer is broadening its technical and business horizons. The Company’s ultimate goal is to provide a high-performance foundation from which it can execute complex AI workloads, leveraging GPU cloud infrastructure to create an adaptable and dynamic platform. The flexibility and scalability of this platform will make AI solutions accessible to a vast range of companies and industries. The final phase of the Company’s roadmap will see it offer an intuitive platform that can seamlessly incorporate custom APIs into existing applications. By evolving along a service trajectory that encompasses IaaS, PaaS, SaaS, and AaaS, its upcoming NVIDIA DGX SuperPOD-based high-performance cloud service platform has the potential to advance the way organizations access and use AI.
Bitdeer expects its upcoming DGX SuperPOD-based high-performance cloud service platform to launch in the first quarter of 2024.
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive digital asset computing solutions for its customers. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management and daily operations. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, please visit https://www.bitdeer.com/.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
