Day: March 13, 2023

Pfizer Looks Past COVID With $43 Billion Deal for Cancer Drug Innovator Seagen

Pfizer Inc PFE.N struck a $43 billion deal for Seagen Inc SGEN.O to add innovative targeted therapies to its portfolio of cancer treatments as it braces for a steep fall in COVID-19 product sales and stiff competition for some top sellers.

Monday’s deal, Pfizer’s biggest in a string of acquisitions following a once-in-a-lifetime cash windfall from its COVID-19 vaccine and pill, will add four approved cancer therapies with combined sales of nearly $2 billion in 2022.

Washington-based Seagen is a pioneer of antibody-drug conjugates, which work like “guided missiles” designed for a targeted destructive effect and spare healthy cells.

The deal helps Pfizer move into an area “that it is more protected from regulators, patent perspectives and market dynamics,” Chief Executive Officer Albert Bourla said in a conference call. 

Seagen, Bourla said, is set to benefit from out-of-pocket health care spending caps for older Americans under President Joe Biden’s Inflation Reduction Act (IRA), meaning more patients could have access to the company’s expensive treatments.

A focus on complex biotech medicines also provides a longer exclusivity on the market versus pills before becoming subject to government price limits under the IRA, he said.

Pfizer will pay $229 in cash per Seagen share, a 32.7% premium to Friday’s closing price. Seagen’s shares rose to $200 in early trading.

The latest deal comes as Pfizer seeks to mitigate an anticipated $17 billion hit to revenue by 2030 from patent expirations for top drugs and decline in demand for its COVID products.

The drugmaker expects more than $10 billion in sales from Seagen products in 2030, and another $15 billion from its other recent acquisitions.

Pfizer’s recent deals include its purchase of Global Blood Therapeutics for $5.4 billion, migraine drug maker Biohaven Pharmaceutical Holding for $11.6 billion, and a $6.7 billion buyout of drug developer Arena Pharmaceuticals.

Pfizer’s portfolio of oncology therapies includes 24 approved drugs, while Seagen’s includes Adcetris for lymphoma, Padcev for bladder cancers, Tivdak for cervical cancer and breast cancer treatment Tukysa.

The companies expect to complete the deal in late 2023 or early 2024. Pfizer said antitrust regulators could closely review the deal due to its size but eventually approve it.

Pfizer rival Merck & Co Inc MRK.N and Seagen were in advanced deal talks last year but those reportedly collapsed over antitrust concerns. 

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Boeing Employee From Burundi Named Leading Black Engineer

Boeing structural analysis engineer George Ndayizeye, who grew up in Burundi, has won a 2023 Black Engineer of the Year Legacy Award. He spoke with VOA’s Natasha Mozgovaya outside Seattle.

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Japan’s Kenzaburo Oe, Awarded Nobel for Poetic Fiction, Dies

Nobel literature laureate Kenzaburo Oe, whose darkly poetic novels were built from his childhood memories during Japan’s postwar occupation and from being the parent of a disabled son, has died. He was 88. 

Oe, who was also an outspoken anti-nuclear and peace activist, died on March 3, his publisher, Kodansha Ltd., said in a statement Monday. The publisher did not give further details about his death and said his funeral was held by his family. 

Oe in 1994 became the second Japanese author awarded the Nobel Prize in literature. 

The Swedish Academy cited the author for his works of fiction, in which “poetic force creates an imagined world where life and myth condense to form a disconcerting picture of the human predicament today.” 

His most searing works were influenced by the birth of Oe’s mentally disabled son in 1963. 

“A Personal Matter,” published a year later, is the story of a father coming to terms through darkness and pain with the birth of a brain-damaged son. Several of his later works have a damaged or deformed child with symbolic significance, with the stories and characters evolving and maturing as Oe’s son aged. 

Hikari Oe had a cranial deformity at birth that caused mental disability. He has a limited ability to speak and read but has become a musical composer whose works have been performed and recorded on albums. 

The only other Japanese to win a Nobel in literature was Yasunari Kawabata in 1968. 

Despite the outpouring of national pride over Oe’s win, his principal literary themes evoke deep unease here. A boy of 10 when World War II ended, Oe came of age during the American occupation. 

“The humiliation took a firm grip on him and has colored much of his work. He himself describes his writing as a way of exorcising demons,” the Swedish Academy said. 

Childhood wartime memories strongly colored the story that marked Oe’s literary debut, “The Catch,” about a rural boy’s experiences with an American pilot shot down over his village. Published in 1958, when Oe was still a university student, the story won Japan’s prestigious Akutagawa prize for new writers. 

He also wrote nonfiction books about Hiroshima’s devastation and rise from the August 6, 1945, U.S. atomic bombing, as well as about Okinawa and its postwar U.S. occupation. 

Oe has campaigned for peace and anti-nuclear causes, particularly since the 2011 Fukushima crisis, and has often appeared in rallies. 

In 2015, Oe criticized Japan’s decision to restart nuclear reactors in the wake of the earthquake and tsunami-triggered meltdown at the Fukushima plant, calling it a risk that could lead to another disaster. He urged then-Prime Minister Shinzo Abe to follow Germany’s example and phase out atomic energy. 

“Japanese politicians are not trying to change the situation but only keeping the status quo even after this massive nuclear accident, and even if we all know that yet another accident would simply wipe out Japan’s future,” Oe said. 

Oe, who was 80 then, said his life’s final work is to strive for a nuclear-free world: “We must not leave the problem of nuclear plants for the younger generation.” 

The third of seven children, Oe was born on January 31, 1935, in a village on Japan’s southern island of Shikoku. At the University of Tokyo, he studied French literature and began writing plays. 

The academy noted that Oe’s work has been strongly influenced by Western writers, including Dante, Poe, Rabelais, Balzac, Eliot and Sartre. 

But even with those influences, Oe brought an Asian sensibility to bear. 

In 2021, thousands of pages of his handwritten manuscripts and other works were sent to be archived at the University of Tokyo. 

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‘Everything Everywhere’ Dominates Oscars

The comedy-fantasy ‘Everything Everywhere All at Once’ dominated the Academy Awards Sunday night. The film earned seven Oscar statuettes, including for best picture. Mike O’Sullivan reports the movie’s directors and three of its stars also received Oscars.

Produced by Jason Godman

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Unconventional ‘Everything Everywhere’ Wins Best Picture at the Oscars

“Everything Everywhere All at Once” won the prestigious best picture trophy at the Academy Awards on Sunday as Hollywood embraced an offbeat story about a Chinese-American family working out their problems across multiple dimensions. 

The movie claimed three of the four acting Oscars for star Michelle Yeoh, Ke Huy Quan and Jamie Lee Curtis. Yeoh played the lead role of a stressed-out laundromat owner who finds she has superpowers in alternate universes. 

“For all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibilities,” the 60-year-old Malaysian actress said on stage. “And ladies, don’t let anybody ever tell you you are ever past your prime.” 

Quan, a onetime child star who gave up acting for two decades, and Hollywood veteran Curtis won supporting actor and actress for their roles. 

A weeping Quan, who was born in Vietnam, kissed his gold Oscar statuette as he held it on stage in front of the biggest names in show business. 

“My journey started on a boat,” Quan said. “I spent a year in a refugee camp. Somehow I ended up here on Hollywood’s biggest stage.” 

As a boy, Quan starred in a 1984 “Indiana Jones” movie and “The Goonies” in 1985. The 51-year-old said he had quit acting for years because he saw little opportunity for Asian actors on the big screen. 

“They say stories like this only happen in the movies,” he added. “I cannot believe it’s happening to me. This is the American dream.” 

Quan’s co-star Jamie Lee Curtis, who built a career in horror films such as “Halloween,” won best supporting actress for playing a frumpy tax auditor named Deirdre Beaubeirdre. 

Curtis, 64, looked upward and addressed her late parents, Academy award nominees Tony Curtis and Janet Leigh. “I just won an Oscar,” she said through tears. 

“The Whale” star Brendan Fraser won best actor for playing a severely obese man trying to reconnect with his daughter. 

A German remake of World War One epic “All Quiet” won best international feature. 

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Full List of Winners at the 2023 Oscars

The 95th Academy Awards took place at a ceremony in Los Angeles on Sunday and were broadcast live on ABC television. The following is the full list of 2023 Oscar winners: 

Best Picture: “Everything Everywhere All at Once” 

Best Actress: Michelle Yeoh, “Everything Everywhere All at Once” 

Best Actor: Brendan Fraser, “The Whale” 

Best Director: Daniel Kwan and Daniel Scheinert, “Everything Everywhere All at Once” 

Best Supporting Actor: Ke Huy Quan, “Everything Everywhere All at Once” 

Best Supporting Actress: Jamie Lee Curtis, “Everything Everywhere All at Once”

Best International Feature Film: “All Quiet on the Western Front,” Germany 

Best Animated Feature Film: “Guillermo del Toro’s Pinocchio” 

Best Documentary Feature Film: “Navalny” 

Best Original Screenplay: “Everything Everywhere All at Once,” written by Daniel Kwan and Daniel Scheinert 

Best Adapted Screenplay: “Women Talking,” screenplay by Sarah Polley 

Best Original Score: “All Quiet on the Western Front,” Volker Bertelmann 

Best Original Song: “Naatu Naatu,” from “RRR,” music by M.M. Keeravaani; lyrics by Chandrabose 

Cinematography: “All Quiet On The Western Front,” James Friend 

Visual Effects: “Avatar: The Way of Water” 

Sound: “Top Gun: Maverick” 

Film Editing: “Everything Everywhere All at Once” 

Production Design: “All Quiet On The Western Front” 

Costume Design: “Black Panther: Wakanda Forever,” Ruth Carter 

Makeup and Hairstyling: “The Whale” 

Documentary Short Film: “The Elephant Whisperers” 

Short Film, Live Action: “An Irish Goodbye” 

Short Film, Animated: “The Boy, the Mole, the Fox and the Horse” 

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Best of Oscars Fashions – 2023

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List Of 2023 Oscar Winners

 

Best supporting actor: Ke Huy Quan, “Everything Everywhere All at Once”

Best supporting actress: Jamie Lee Curtis, “Everything Everywhere All at Once”

Best animated feature: “Guillermo del Toro’s Pinocchio”

Documentary feature: “Navalny”

Live action short: “An Irish Goodbye”

Cinematography: James Friend, “All Quiet on the Western Front”

Makeup and hairstyling: “The Whale”

Costume design: “Black Panther: Wakanda Forever”

International feature film: “All Quiet on the Western Front” (Germany)

Documentary short: “The Elephant Whisperers”

Animated short: “The Boy, the Mole, the Fox and the Horse”

Production design: “All Quiet on the Western Front”

Music (original score): Volker Bertelmann, “All Quiet on the Western Front”

Visual Effects: “Avatar: The Way of Water”

Original screenplay: “Everything Everywhere All at Once”

Adapted screenplay: “Women Talking”

Sound: “Top Gun: Maverick”

Original Song: “Naatu Naatu” by M.M. Keeravaani, from the film “RRR”

Film Editing: Paul Rogers, “Everything Everywhere All at Once”

Directing: Daniel Kwan and Daniel Scheinert, “Everything Everywhere All at Once”

Actor in a Leading Role: Brendan Frasier, “The Whale”

Actress in a Leading Role: Michelle Yeoh, “Everything Everywhere All at Once”

Best Picture: “Everything Everywhere All at Once”

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