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SBM Offshore Third Quarter Trading Update

November 12, 2020


Highlights

  • 2020 Directional1 EBITDA guidance increased from above US$900 million to around US$950 million despite challenging environment
  • 2020 Directional revenue guidance maintained at around US$2.3 billion
  • Renewable energy: Floating Offshore Wind Provence Grand Large project moving ahead
  • Year-to-date Underlying Directional revenue of US$1,706 million
  • Second Fast4Ward® hull for Prosperity project completed

Bruno Chabas, CEO of SBM Offshore, commented:

“SBM Offshore is demonstrating the strength of its business model with another good set of results last quarter, despite the twin challenges of the global pandemic and low oil prices. Based on this solid year-to-date performance and the Company’s discipline in managing its cost base, the Company increased its full-year guidance.

SBM Offshore teams are succeeding in maintaining our focus on project delivery and safe operations, while working together virtually, across time zones, with clients, suppliers and all our other global stakeholders with the aim of limiting delivery delays and interruptions to operations. Deepwater projects in quality basins continue to rank favorably in client portfolios.

The energy transition remains at the core of the Company’s strategy. This quarter saw an important milestone reached with the start of the EPC phase of our first floating offshore wind project in France. Leveraging the learnings from this pilot project will enable SBM Offshore to further fine-tune its technology and execution model and to scale up for future projects towards our ambition to have 25% of revenues from Renewables & Gas by 2030.”

Financial Highlights

    YTD Directional
         
in US$ million   3Q 2020 3Q 2019 % Change
Revenue   1,806 1,470 23%
Lease and Operate   1,334 972 37%
Turnkey   472 498 -5%
Underlying Revenue   1,706 1,470 16%
Lease and Operate   1,234 972 27%
Turnkey   472 498 -5%
         
in US$ million   3Q 2020 3Q 2019  
Non-recurring items impact Revenue        
Deep Panuke redelivery   100 –  
         
in US$ billion   Sep-30-20 Dec-31-19 % Change
Net Debt   4.0 3.5 14%
Backlog calculation will be provided in FY20 Earnings Update        

Year to date, Underlying Directional revenues were US$1,706 million compared with US$1,470 million in the third quarter of 2019. This 16% increase resulted from higher revenues in Lease and Operate, which were the result of FPSO Liza Destiny joining the fleet at the end of 2019, together with last year’s acquisition of a minority partner’s ownership in five Brazilian FPSOs.

Underlying Directional revenues are adjusted for the non-recurring revenue recognition of US$100 million related to the redelivery of the Deep Panuke platform as reported with Half Year 2020 earnings. This redelivery does not affect the contractually agreed amount and timing of the cash consideration to be received by the Company as per the initial contract.

Compared with year-end 2019, net debt as at the end of the third quarter increased by c. US$0.5 billion to US$4.0 billion. While Lease and Operate continues to generate strong operating cash flow, the Company is drawing under the project loan facilities for continued investment in growth. As at September 2020, 76% of the debt consisted of non-recourse project financing, with remaining debt linked to the financing of the projects under construction. SBM Offshore is currently progressing with three major projects (FPSOs LizaUnity, Prosperity and Sepetiba) using the first three Multi-Purpose Floater (MPF) hulls in the Fast4Ward® program. The fourth hull in the program is under construction, with construction of the fifth not yet started.

Following the re-appointment of CEO Bruno Chabas at the 2020 AGM, the implementation of his Base Salary increase to EUR960,000 was deferred to a later stage when the effects of the COVID-19 crisis would be clearer. With more visibility at present and considering the financial results and the position of the Company, the Supervisory Board resolved to implement the increase of Bruno Chabas’ Base Salary effective January 1, 2020.


Project Review

SBM Offshore construction activities are reliant upon global supply chains, which face challenges to varying degrees from the pandemic. Project teams continue to work closely with client teams and contractors to optimize cost or schedule impacts and create alternatives for execution planning. An update on individual projects is provided below.

FPSO Liza Destiny

Commissioning work on the natural gas injection system of FPSO Liza Destiny is progressing with the main gas compressors commissioned.

FPSO Liza Unity

The yards in Singapore re-opened during the last quarter and the construction of the FPSO is progressing. The mooring and riser structures integration was completed and the Fast4Ward® MPF hull was moved from the dry-dock to the integration quayside where the topsides integration phase has started with the lifting of the first topsides modules. The project is progressing in line with client schedule, with a planned completion in 2022.

FPSO Sepetiba

The Fast4Ward® MPF hull construction is progressing at the yard in China, which is operating at planned capacity since mid-year 2020. The modules fabrication continues to progress in Brazil and China. The project is progressing with a planned completion end 2022.

FPSO Prosperity

Following the contracts award announced on October 1, 2020, the Prosperity project team is preparing for the start of fabrication in Singapore. The Fast4Ward® MPF hull for the project has been completed. The project is progressing in line with client schedule with a planned completion in 2024.

Fast4Ward® MPF hulls

Under the Company’s Fast4Ward® program the total number of hulls ordered to date stands at five. Three hulls are allocated to projects: FPSOs LizaUnity, Prosperity and Sepetiba. The two hulls allocated to FPSO LizaUnity and FPSO Prosperity are completed.

Regarding the hulls not allocated to projects, hulls number four and five, construction of the fourth hull is making progress in line with SBM Offshore’s execution plan and construction of the fifth hull is expected to start during the fourth quarter of this year. These hulls support ongoing tendering activity. 


Operational Update

Due to the ongoing COVID-19 pandemic, business continuity protocols remain in place. The Company is expanding its internal Polymerase Chain Reaction (PCR) testing capability and capacity, now available in most operating locations. This enables the Company to reduce quarantine periods and to provide a more efficient response if cases are identified. The priority remains to prevent the occurrence of cases on board of the Company’s fleet and in onshore locations and to minimize impact on operations.

Year to date, the Lease and Operate fleet uptime stood at 98.8% compared to 99.5% at mid-year 2020.


Energy Transition and HSSE

Floating Offshore Wind

SBM Offshore is contracted by EDF Renouvelables for the engineering, procurement, construction and installation of three floating units and its mooring system, for offshore wind turbines with a total capacity of 25.2 MW. The units will be deployed offshore Marseille for the project Provence Grand Large. The Company has progressed on the design and the turnkey phase is ongoing.

Total Recordable Injury Frequency Rate (TRIFR)

As at September 30, 2020, the Company’s year-to-date TRIFR was 0.12, compared with the 2020 target of 0.20. 


Outlook and Guidance

Supported by robust operational performance in both Lease and Operate and Turnkey and effective cost discipline measures, 2020 Directional EBITDA guidance is increased from “above” US$900 million to “around” US$950 million. 2020 Directional revenue guidance is maintained at “around” US$2.3 billion of revenues, with “around” US$1.6 billion coming from Lease and Operate and “around” US$0.7 billion coming from the Turnkey segment.

Consistent with the Half Year 2020 earnings update, this guidance excludes the exceptional positive impacts on revenue and EBITDA resulting from the redelivery of the Deep Panuke platform but includes negative impact on EBITDA resulting from the company restructuring costs.

The Directional EBITDA and revenue guidance take into account the currently foreseen COVID-19 impacts on projects and fleet operations. The Company highlights that the direct and indirect impact of the pandemic could have a material impact on the Company’s business and results. 


Conference Call

SBM Offshore has scheduled a conference call, which will be followed by a Q&A session, to discuss the Third Quarter 2020 Trading Update.

The event is scheduled for Thursday, November 12, 2020 at 10:00 am (CET) and will be hosted by Bruno Chabas (CEO), Douglas Wood (CFO), Philippe Barril (COO) and Erik Lagendijk (CGCO). 

Interested parties are invited to register prior to the call using the registration link:


https://www.kpneventcall.nl/EventRegistration/09b140d1-b9bb-448b-9bee-b24d923bfbdb

Please note that the conference call can only be accessed with a personal identification code, which is sent to you by email after completion of the registration. 

Corporate
Profile

The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.

As of December 31, 2019, the Company employs approximately 4,450 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.

SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.

Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.

For further information, please visit our website at www.sbmoffshore.com.

The Management Board
Amsterdam, the Netherlands, November 12, 2020

Financial Calendar Date Year
Full Year 2020 Earnings – Press Release February 11 2021
Annual General Meeting of Shareholders April 7 2021
Trading Update 1Q 2021 – Press Release May 12 2021
Half Year 2021 Earnings – Press Release August 5 2021
Trading Update 3Q 2021 – Press Release November 11 2021


 

For further information, please contact:

Investor Relations

Bert-Jaap Dijkstra
Group Treasurer and IR

Telephone: +31 (0) 20 236 3222
Mobile: +31 (0) 6 21 14 10 17
E-mail: [email protected]
Website: www.sbmoffshore.com

Media Relations

Vincent Kempkes
Group Communications Director

Telephone: +31 (0) 20 236 3170
Mobile: +31 (0) 6 25 68 71 67
E-mail: [email protected]
Website: www.sbmoffshore.com

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. This press release contains
regulated information within the meaning of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht). Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

 

1 Directional view, presented in the Financial Statements under Operating segments and Directional reporting, represents a pro-forma accounting policy, which assumes all lease contracts are classified as operating leases and all vessel investees are proportionally consolidated. This explanatory note relates to all Directional reporting in this document.

 

 

Attachment

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Sequana Medical to present at Jefferies 2020 Virtual London Healthcare Conference

GHENT, Belgium, Nov. 12, 2020 (GLOBE NEWSWIRE) — Sequana Medical NV (Euronext Brussels: SEQUA), an innovator in the management of fluid overload in liver disease, malignant ascites and heart failure, today announces that Ian Crosbie, Chief Executive Officer, will present at the Jefferies 2020 Virtual London Healthcare Conference taking place from 17 to 19 November 2020.        

Company presentation
with live webcast

  • Thursday, 19 November 2020 at 11:35 am CET
  • To register for the webcast, click here
  • The presentation and a replay of the webcast will be available on Sequana Medical’s Investors website shortly after the event

To request a one-on-one meeting with the Sequana Medical management team, contact us at [email protected].

For more information, please contact:

Sequana Medical

Lies Vanneste, Director Investor Relations
Tel: +32 (0) 498 05 35 79
Email: [email protected]

Consilium Strategic Communications

Amber Fennell, Ashley Tapp, Melissa Gardiner
Tel: +44 203 709 5000
Email: [email protected]  		 LifeSci Advisors

Chris Maggos
Tel: +41 79 367 6254
Email: [email protected]   

About Sequana Medical

Sequana Medical is a commercial stage medical device company developing the alfapump platform for the management of fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a fast growing complication of advanced liver disease driven by NASH (non-alcoholic steatohepatitis) related cirrhosis and a common complication in heart failure. The U.S. market for the alfapump resulting from NASH-related cirrhosis is forecast to exceed €3 billion annually within the next 10-20 years. The heart failure market for the alfapump DSR (Direct Sodium Removal) is estimated to be over €5 billion annually in the U.S. and EU5 by 2026. Both indications leverage Sequana Medical’s alfapump, a unique, fully implanted wireless device that automatically pumps fluid from the abdomen into the bladder, where it is naturally eliminated through urination.

In the U.S., the company’s key growth market, the alfapump has been granted breakthrough device designation by the FDA. The North American pivotal study (POSEIDON) in recurrent and refractory ascites due to liver cirrhosis is currently underway, and is intended to support a commercial marketing application of the alfapump in the U.S. and Canada. In Europe, the alfapump is CE-marked for the management of refractory ascites due to liver cirrhosis and malignant ascites and is included in key clinical practice guidelines. Over 800 alfapump systems have been implanted to date. Building on its proven alfapump platform, Sequana Medical is developing the alfapump DSR, a breakthrough, proprietary approach to fluid overload due to heart failure. Clinical proof-of-concept was achieved in a first-in-human single dose DSR study and further supported by strong interim safety and efficacy results from the ongoing repeated dose alfapump DSR study (RED DESERT) in heart failure patients.

Sequana Medical is headquartered in Ghent, Belgium. For further information, please visit www.sequanamedical.com.


Important Regulatory Disclaimers


The 

alfa

pump® system is not currently approved in the United States or Canada. In the United States and Canada, the 

alfa

pump® system is currently under clinical investigation (POSEIDON Study) and is being studied in adult patients with refractory or recurrent ascites due to cirrhosis. For more information regarding the POSEIDON clinical study see 

www.poseidonstudy.com

. The DSR therapy is still in development and it should be noted that any statements regarding safety and efficacy arise from ongoing pre-clinical and clinical investigations which have yet to be completed. The DSR therapy is not currently approved for clinical research in the United States or Canada. There is no link between the DSR therapy and ongoing investigations with the 

alfa

pump® system in Europe.


Forward-looking statements


This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements represent the current judgment of Sequana Medical on what the future holds, and are subject to risks and uncertainties that could cause actual results to differ materially. Sequana Medical expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of Sequana Medical only as of the date of this press release.

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Innate Pharma to Participate in upcoming investor conferences

MARSEILLE, France, Nov. 12, 2020 (GLOBE NEWSWIRE) — Innate Pharma SA (Euronext Paris: IPH – ISIN: FR0010331421; Nasdaq: IPHA) (“Innate” or the “Company”), today announced that members of its senior management team are scheduled to participate in the following upcoming virtual investor conferences.

  • Bryan Garnier & Co Virtual European Healthcare Conference

    Date: November 17, 2020
    Fireside Chat: November 17, 2020 at 10:00 a.m. CET

  • Jefferies Virtual London Healthcare Conference

    Date: November 18, 2020

  • SVB Leerink Oncology 1×1 Day

    Date: November 19, 2020

  • Oddo – Tech40 Digital Forum 5

    th

    Edition

    Date: November 24-25, 2020

  • Evercore ISI 3

    rd

    Annual HealthCONx

    Date: December 1-3, 2020
    Fireside Chat: December 2, 2020 at 8:50-9:10 a.m. ET

A replay of Innate’s presentation at the Bryan Garnier conference and a live webcast of Innate’s presentation at the Evercore ISI conference will be accessible through the News & Events page of the Investors section of the Company’s website at www.innate-pharma.com.

About Innate Pharma:

Innate Pharma S.A. is a commercial stage oncology-focused biotech company dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer.

Innate Pharma’s commercial-stage product, Lumoxiti, in-licensed from AstraZeneca in the US, EU and Switzerland, was approved by the FDA in September 2018. Lumoxiti is a first-in class specialty oncology product for hairy cell leukemia. Innate Pharma’s broad pipeline of antibodies includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need.

Innate has been a pioneer in the understanding of natural killer cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi, and a multi-products collaboration with AstraZeneca.

Based in Marseille, France, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.
Learn more about Innate Pharma at www.innate-pharma.com

Information about Innate Pharma shares:

ISIN code

Ticker code

LEI 		FR0010331421
Euronext: IPH Nasdaq: IPHA
9695002Y8420ZB8HJE29

Disclaimer on forward-looking information and risk factors:

This press release contains certain forward-looking statements, including those within the meaning of the Private Securities Litigation Reform Act of 1995.The use of certain words, including “believe,” “potential,” “expect” and “will” and similar expressions, is intended to identify forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s commercialization efforts, the Company’s continued ability to raise capital to fund its development and the overall impact of the COVID-19 outbreak on the global healthcare system as well as the Company’s business, financial condition and results of operations. For an additional discussion of risks and uncertainties which could cause the company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2019, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public, by the Company.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

For additional information, please contact:


Investors



Innate Pharma

Tel.: +33 (0)4 30 30 30 30
[email protected]
Media



Innate Pharma

Tracy Rossin (Global/US)
Tel.: +1 240 801 0076
[email protected]

ATCG Press
Marie Puvieux (France)
Tel.: +33 (0)9 81 87 46 72
[email protected]

Posted on

Wix Announces Appointment of Ferran Soriano to its Board of Directors

PR Newswire

NEW YORK, Nov. 12, 2020 /PRNewswire/ — Wix.com Ltd (Nasdaq: WIX), the global leader in website creation, announced today the appointment of Ferran Soriano to its board of directors.

“We enthusiastically welcome Ferran to our board of directors,” said Avishai Abrahami, Co-founder and CEO of Wix. “Ferran is a seasoned executive who possesses deep expertise in building businesses and brands across multiple international markets. His background in a variety of industries will also bring new perspectives to our board, which we welcome as we focus on driving growth across our increasingly broadening platform.”

Mr. Soriano currently serves as the CEO of City Football Group (CFG), a position he has held since September 2012. Under his leadership, CFG has become a global platform for entertainment and football, redefining club ownership.

City Football Group is the world’s leading private owner and operator of football clubs, with total or partial ownership of ten clubs in major cities across the world: Premier League Champions Manchester City in the UK, New York City FC in the US, Melbourne FC in Australia, Yokohama F. Marinos in Japan, Montevideo City Torque in Uruguay, Girona Futbol Club in Spain, Sichuan Jiuniu FC in China, Mumbai City FC in India, Lommel SK in Belgium and ESTAC in France. With 13 offices around the world, CFG also invests in other football related businesses and projects and serves as a global commercial platform for its partners, whilst fulfilling its vision of using football for social good on a local and global scale through its clubs’ charities, foundations and other CSR initiatives. 

Previously, Soriano was Vice Chairman and CEO of FC Barcelona from 2003 to 2008 where he is credited with playing a major role in the transformation of the club to success on and off the pitch.

Soriano also served as Chairman of Spanair from 2009 to 2012 and previously spent 10 years as a partner and co-founder of Cluster Consulting (a/k/a DiamondCluster, Nasdaq: DTPI), a strategy consulting firm. Earlier in his career, Soriano served in various management positions at consumer goods company Reckitt-Benckiser.

Soriano also authored a book published in more than 10 countries and languages titled “Goal: The Ball Doesn’t Go In By Chance: Management Ideas from the World of Football”, which reveals the behind the scenes world of international football management and Soriano’s views on the lessons that can be learned.

Mr. Soriano holds a Bachelor’s degree in management and a MBA from ESADE (Barcelona), Rensselaer Polytechnic Institute (New York) and Université Catholique de Louvain (Belgium).


About Wix.com Ltd.



Wix
 is leading the way with a cloud-based website development platform for over 189 million registered users worldwide today. The Wix website builder was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a highly curated App Market, Ascend by Wix and Corvid by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix’s headquarters are in Tel Aviv with offices in Austin, Be’er Sheva, Berlin, Cedar Rapids, Denver, Dnipro, Dublin, Kiev, Los Angeles, Miami, New York, San Francisco, São Paulo, Tokyo and Vilnius. 

Visit us: on our blog, Facebook, Twitter, Instagram, LinkedIn and Pinterest 
Download: Wix App is available for free on Google Play and in the App Store.

For more about Wix please visit our Press Room

Investor Relations:

Maggie O’Donnell


[email protected] 
914-267-7390

Media Relations:


[email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/wix-announces-appointment-of-ferran-soriano-to-its-board-of-directors-301171496.html

SOURCE Wix.com Ltd.

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Liberty Global Completes Acquisition of Sunrise Communications Group

Liberty Global Completes Acquisition of Sunrise Communications Group

Liberty Owns 98% of Sunrise Shares After Settlement of Tender Offer

Squeeze-Out Procedure will be Initiated and Sunrise Shares will be Delisted

DENVER, Colorado–(BUSINESS WIRE)–
Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) has successfully completed the acquisition of Sunrise Communications AG (SIX Swiss Exchange: SRCG).

Following receipt of the regulatory approvals and fulfilment of further purchase conditions, the completion of the transaction has taken place today with the settlement of the all cash public tender offer of UPC Schweiz GmbH (a subsidiary of Liberty Global) to acquire all publicly held shares of Sunrise Communications Group AG (“Sunrise”).

Liberty Global (through UPC Schweiz GmbH) now holds more than 98% of the share capital of Sunrise and will initiate a squeeze-out according to the Swiss Financial Market Infrastructure Act. Liberty Global plans to have the Sunrise shares delisted from the SIX Swiss Exchange upon completion of the squeeze-out. Sunrise is therefore expected to become a wholly-owned subsidiary within the Liberty Global group.

While both Sunrise and UPC Schweiz GmbH will both be subsidiaries of Liberty Global, they will continue to operate independently until the integration of the two companies is completed in early 2021.

Mike Fries, CEO, Liberty Global, comments, “Today marks another important step in our strategy of creating leading national fixed-mobile champions across Europe. By bringing together UPC’s leading gigabit broadband network and the most advanced 5G network of Sunrise, the combined company will provide seamless connectivity for millions of Swiss consumers and thousands of Swiss businesses.”

ABOUT LIBERTY GLOBAL

Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in 6 European countries under the consumer brands Virgin Media, Telenet and UPC. We invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.

Our substantial scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect 11 million customers subscribing to 25 million TV, broadband internet and telephony services. We also serve 6 million mobile subscribers and offer WiFi service through millions of access points across our footprint.

In addition, Liberty Global owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed-line and 5 million mobile services, as well as significant investments in ITV, All3Media, ITI Neovision, LionsGate, the Formula E racing series and several regional sports networks.

For more information, please visit www.libertyglobal.com.

IMPORTANT ADDITIONAL INFORMATION

This release is for informational purposes only and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any registered shares in Sunrise or Sunrise’s ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor. Shareholders of Sunrise are urged to read the documents relating to the tender offer described herein (the Offer), which are available at www.nationalconnectivitychallenger.ch. The Offer has closed, but Liberty Global reserves the right to purchase additional Sunrise shares prior to the squeeze-out in accordance with all applicable laws.

U.S. shareholders of Sunrise may also call +1 303 220 6600 (US) or email [email protected] to request a copy of the Offer documents, which will be provided free of charge upon request. Sunrise is incorporated in Switzerland and listed on the SIX Swiss Exchange, and any offer for its securities will be subject to Swiss disclosure and procedural requirements, which differ from those that are applicable to offers conducted solely in the United States. The transactions described above were structured to comply with securities laws and regulations applicable to transactions of this type. The communication is not being made by, and has not been approved by, an “authorised person” for the purposes of Section 21 of the U.K. Financial Services and Markets Act 2000.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “may,” “target,” and similar expressions and variations or negatives of these words. These forward-looking statements may include, among other things, statements relating to the outlook in Switzerland of Sunrise and Liberty Global; operational expectations, including with respect to the development, launch and benefits of innovative and advanced products and services, including gigabit speeds, new technology and next generation platform rollouts or launches; future growth prospects and opportunities, results of operations, uses of cash, tax rates, and other measures that may impact the financial performance of the companies; anticipated benefits and synergies and estimated costs of the transaction; the expected timing of completion of the transaction; and other information and statements that are not historical facts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include events that are outside of the control of the parties, such as: (i) Sunrise, Liberty Global, and our respective operating companies’ ability to meet challenges from competition and to achieve forecasted financial and operating targets; (ii) the effects of changes in laws or regulations; (iii) general economic, legislative, political and regulatory factors, and the impact of weather conditions, natural disasters, or any epidemic, pandemic or disease outbreak (including COVID-19); (iv) Liberty Global and our affiliates’ ability to successfully integrate Sunrise and realize anticipated efficiencies and synergies from the transaction; (v) the outcome of any potential litigation that may be instituted with respect to the transaction; (vi) the potential impact of unforeseen liabilities, future capital expenditures, revenues, expenses, economic performance, indebtedness, financial condition on the future prospects and business of Sunrise and Liberty Global’s Swiss business after the consummation of the transaction; and (vii) management’s response to any of the aforementioned factors. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, please see Liberty Global’s filings with the U.S. Securities and Exchange Commission, including Liberty Global’s most recently filed Form 10-Q. These forward-looking statements speak only as of the date of this release. Sunrise and Liberty Global expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Investor Relations:

Max Adkins +44 20 8483 6336

John Rea +1 303 220 4238

Stefan Halters +44 20 8483 6211

Corporate Communications:

Molly Bruce +1 303 220 4202

Matt Beake +44 20 8483 6428

KEYWORDS: United States North America Colorado

INDUSTRY KEYWORDS: Technology Telecommunications

MEDIA:

Posted on

Global Warming Solutions Inc. Introduces an Energy Solution in the Fight Against Global Warming

Jacksonville, Florida, Nov. 12, 2020 (GLOBE NEWSWIRE) — Global Warming Solutions, Inc. is driving our generation’s challenge to reduce greenhouse gas emissions. The world is rapidly demanding more clean and renewable energy, but accelerating the adoption of renewables presents many challenges, including reliability, resiliency, scalability, and land use. Hydrogen energy is by far the most promising way of solving environmental problems. It remains the only promising way to solve the main issue – long-term storage and safe transportation of hydrogen.

At some point in time, we will have more renewable energy than the grid can handle in some states in the US. Despite these periods of surplus wind and solar energy, seeing as how  we are unable to store electricity for more than a few hours, dispatching energy from fossil fuels continues to fill energy supply gaps.

We also are currently experiencing more power outages than ever before, especially during peak grid loads. Wildfires, tornadoes, hurricanes, and winter storms cause hundreds of blackouts each year, with more blackouts lasting days (rather than minutes or hours). Now more than ever, we need renewable, reliable, and resilient energy.

Global Warming Solutions Inc. is working on introducing to the world, a power generation device that effectively delivers constant 100% renewable, emission-free electricity 24 hours a day, 365 days per year.

“Production/storage and shipping of hydrogen from excess renewable energy sources is associated with a number of unresolved technical problems. We offer today a scalable, affordable, and effective solution to the problem of balancing supply and demand for renewable energy sources. ”said Artym Madatov of Global Warming Solutions, Inc. “Consumer availability of 100% renewable and clean energy, can only be real with stand-alone, scalable solutions to safely store this type of renewable energy.”

“Scaling up clean and renewable energy means that consumers of all sizes can now purchase an autonomous energy storage device with the capacity they need. This does not require waiting for the implementation of super-large-scale projects, such as the construction of networks with hydrogen pipelines and giant hydrogen storage facilities. Everyone can create their own sustainable energy network. ”said Vladimir Vasilenko, CEO of Global Warming Solutions, Inc. “Today’s fuel cells, wind and solar power, reduce CO2 emissions by ways that are largely independent of one another . In the future, these same technologies will work in sync to balance supply and demand. ”

How does it work?

An exclusive feature of the “Sustainable Energy Device ” on hydrogen is the transportation of energy to the place of energy storage, not hydrogen, which is both dangerous, and expensive.   However, the transmission of electricity through wires is inexpensive and safe. Energy from renewable sources is supplied to a Sustainable Energy Device, then stored (without loss) in the form of sodium inside an electrochemical reactor. The automatic start-up of an electrochemical reactor produces hydrogen, which is oxidized in fuel cells to produce clean energy which is then fed into the grid. During peak periods of consumption, energy from renewable sources are used to recover sodium. Thus, wind and solar energy are stored and consumed when the consumer requires it.

The ability to work on extempore obtained renewable hydrogen means that Sustainable Energy Devices can be installed today where it is convenient for the electrical grid, and the consumer. This determines the scalability of the project:  every energy consumer who wants to ensure the sustainability of the energy supply for himself can now establish a “Point of Sustainable Energy.”

“Following some of the biggest names concerned with global warming such as the Gate’s Foundation, we feel very comfortable with the direction we are headed”, concluded Dr. Vasilenko.

To learn more about Global Warming Solutions, Inc. Visit: http://www.gwsogroup.com

Forward-Looking Statements

This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at https://www.gwsogroup.com.

Contact:

Vladimir Vasilenko
CEO
Global Warming Solutions, Inc.
[email protected]

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McAfee and Amazon Business Prime Partner to Protect Small Business Owners Online

McAfee and Amazon Business Prime Partner to Protect Small Business Owners Online

McAfee’s comprehensive device protection offer with added IT support solves small business challenges

NEWS HIGHLIGHTS

  • McAfee and Amazon Business Prime partner to solve cyber security and IT resource challenges
  • Exclusive offers now available for Business Prime Members in the U.S.

SAN JOSE, Calif.–(BUSINESS WIRE)–
McAfee Corp. (Nasdaq: MCFE) today announced a partnership with Amazon Business to provide an exclusive security software and IT services bundle for Business Prime members, specifically to support owners of small to medium size operations (SMBs). The bundle will include comprehensive solutions that protect sensitive data via email, offer web and firewall protection, offer mobile VPN, and safeguards all devices from malware and the latest online threats.

In an increasingly digitized world, small businesses are targeted by hackers because they often lack the resources to prepare and address cyber threats, both from a budgetary and staffing perspective. The 2019 Verizon Data Breach Investigations Report found that 43% of breaches involved small businesses, and it has proven to be challenging for small business to recover. It isn’t always the impact on finances that are hard for small businesses to recover from – it is also their reputation that is damaged, and their customers take note when their personal information is compromised.

“Small business owners and consumers alike are operating in an ever-connected world, and McAfee is dedicated to protecting them online when they shop, bank, share and journey across the internet,” said Terry Hicks, Executive Vice President of McAfee’s Consumer Business Group. “Through our partnership with Amazon Business, we designed a security solution with small business owners in mind to give them peace of mind that their personal data, as well as their customers’, won’t be jeopardized online.”

The new McAfee security software and IT services bundle for Business Prime members will provide protection for varying number of PCs, Macs, iOS and Android devices to fit specific business size and needs. The flexible licensing option allows owners to add up to 25 devices, giving them the option to adjust as their business grows to ensure that all employees stay protected. SMB owners will also have access to 24/7 virus removal service with added IT resolution services to ensure businesses are always protected, secure and functioning efficiently.

For the first year of the offering, Business Prime members can choose between three introductory price options, ranging from $49.99 to $99.99, depending on the number of devices and IT resolutions that members deem appropriate for their business needs. Prices range from $149.99 to $249.99 per year thereafter upon annual renewal. To redeem the offer, a member can log-in to their Amazon Business Prime account, click into the offer on the Engagement Page, select the option appropriate for their business size, redeem online with McAfee, and immediately download the McAfee client onto their respective business device. Members can then access their McAfee MyAccount admin portal to easily add incremental devices or start inviting team members to access the credits.

Amazon Business helps millions of customers worldwide—from small businesses, schools, hospitals, and government agencies, to large enterprises with global operations—reshape their procurement with cost and time savings, greater productivity, and insightful purchasing analytics. Amazon Business customers can also take advantage of Prime’s fast, free shipping on eligible orders and exclusive business-relevant benefits with Business Prime, which starts at $69 per year as an add-on for customers with Amazon Prime on their personal account or $179 per year for up to three users.

Visit www.amazon.com/businessprime for more details.

About McAfee

McAfee Corp. (Nasdaq: MCFE) is a leader in personal security for consumers. Focused on protecting people, not just devices, McAfee consumer solutions adapt to users’ needs in an always online world, empowering them to live securely through integrated, intuitive solutions that protects their families and communities with the right security at the right moment. For more information, please visit https://www.mcafee.com/consumer

Ashley Dolezal

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Professional Services Security Technology Small Business Software Internet

MEDIA:

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Kodiak Sciences Announces Presentation of KSI-301 Phase 1b Clinical Study Data Focused on Diabetic Macular Edema at American Academy of Ophthalmology (AAO) 2020 Virtual Meeting

PR Newswire

PALO ALTO, Calif., Nov. 11, 2020 /PRNewswire/ — Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases, today announced that a pre-recorded presentation of clinical study data on its investigational therapy KSI-301 is available at the American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting.

Details of the presentation are as follows:

Event: Late Breaking Developments, Part II
Title: One Year and Beyond: Long-term Multiple-dose Study of KSI-301, an Anti-VEGF Antibody Biopolymer Conjugate with Extended Durability, in wAMD, DME, and RVO
Presenter: Arshad M Khanani, M.D., M.A., managing partner and director of clinical research, Sierra Eye Associates, clinical associate professor of ophthalmology, University of Nevada
Presentation date and time: The pre-recorded presentation containing slides and audio will be available to AAO 2020 Virtual attendees starting on Wednesday, November 11. The presentation slides are also available on the “Events and Presentations” section of Kodiak’s website at http://ir.kodiak.com/.

“As diabetic eye disease remains the leading cause of new blindness in working-aged Americans, and we recently started enrolling our GLEAM and GLIMMER pivotal studies in patients with Diabetic Macular Edema, Dr. Khanani’s presentation at the AAO late-breaking session focuses on DME. The data suggest a transformative effect that allows for a combination of strong efficacy and remarkable durability. The results are out of the ordinary when benchmarked to current anti-VEGF agents,” said Jason Ehrlich, M.D., Ph.D., Chief Medical & Development Officer of Kodiak Sciences. “We also remain very pleased with the safety profile of KSI-301, and the most recent Phase 1b safety data are reflected in Dr. Khanani’s presentation. To date, KSI-301 has been administered more than 1,500 times to more than 400 patients across the entire development program, representing more than 250 patient-years of clinical experience. The presentation also refreshes the durability proportions of Phase 1b wet AMD and DME patients who achieved a 6 months or longer treatment-free interval during follow-up and RVO patients who achieved a 4 months or longer treatment-free interval during follow-up.”

“Today’s presentation provides perspectives on KSI-301’s emerging efficacy and durability with an emphasis on helping the audience to understand and link the strong performance of KSI-301 to its precision engineering and underlying scientific rationale,” said Victor Perlroth, M.D., Chief Executive Officer. “Today’s presentation also includes new case examples showing long-term disease modification in diabetic macular edema and proliferative diabetic retinopathy patients with no or very few retreatments in treatment naïve patients following only three loading doses. Given the unsustainable treatment burden of current anti-VEGFs, the unmet need for longer-lasting treatment of diabetic eye disease is clear, and confirmation of KSI-301’s durability, efficacy and safety profile in GLEAM and GLIMMER would be an important advance for patients and physicians.”

About the GLEAM and GLIMMER Studies

The Phase 3 GLEAM and GLIMMER studies are global, multi-center, randomized studies designed to evaluate the efficacy, durability and safety of KSI-301 in patients with treatment-naïve diabetic macular edema (DME). In each study, patients are randomized to receive either intravitreal KSI-301 on an individualized dosing regimen every eight to 24 weeks after only three loading doses or intravitreal aflibercept every eight weeks after five loading doses per its label. Each study is expected to enroll approximately 450 patients worldwide. The primary endpoint for both studies is the change from baseline in best-corrected vision at one year, and patients will be treated and followed for two years. Additional information about the GLEAM study (also called Study KS301P104) and the GLIMMER study (also called Study KS301P105) can be found on www.clinicaltrials.gov under Trial Identifiers NCT04611152 and NCT04603937, respectively (https://clinicaltrials.gov/ct2/show/NCT04611152 and https://clinicaltrials.gov/ct2/show/NCT04603937).

About the BEACON Study

The Phase 3 BEACON study is a global, multi-center, randomized study designed to evaluate the efficacy, durability and safety of KSI-301 in patients with treatment-naïve macular edema due to retinal vein occlusion (RVO), including both branch and central subtypes. Patients are randomized to receive either intravitreal KSI-301 every eight weeks after only two loading doses or monthly intravitreal aflibercept per its label, for the first six months. In the second six months, patients in both groups will receive treatment on an individualized basis per protocol-specified criteria. The study is expected to enroll approximately 550 patients worldwide. The primary endpoint is the change from baseline in best-corrected vision at six months, and patients will be treated and followed for one year. Additional information about the BEACON study (also called Study KS301P103) can be found on www.clinicaltrials.gov under Trial Identifier NCT04592419 (https://clinicaltrials.gov/show/NCT04592419).

About the DAZZLE Study

The Phase 2b/3 DAZZLE study is a global, multi-center, randomized study designed to evaluate the efficacy, durability and safety of KSI-301 in patients with treatment-naïve wet AMD. Patients are randomized to receive either KSI-301 on an individualized dosing regimen as infrequently as every five months and no more often than every three months or to receive aflibercept on its labeled every eight-week dosing regimen, each after three monthly initiating doses. The study is expected to enroll approximately 550 patients worldwide. The primary endpoint is at one year and each patient will be treated and followed for two years. Additional information about DAZZLE (also called Study KSI-CL-102) can be found on www.clinicaltrials.gov under Trial Identifier NCT04049266 (https://clinicaltrials.gov/show/NCT04049266).

About KSI-301

KSI-301 is an investigational anti-VEGF therapy built on the Kodiak’s Antibody Biopolymer Conjugate (ABC) Platform and is designed to maintain potent and effective drug levels in ocular tissues for longer than existing agents. Kodiak’s objective with KSI-301 is to develop a new first-line agent to improve outcomes for patients with retinal vascular diseases and to enable earlier treatment and prevention of vision loss for patients with diabetic eye disease. The Company’s Phase 2b/3 DAZZLE pivotal study in patients with treatment-naïve wet AMD was initiated in October 2019, and Kodiak initiated the Phase 3 GLEAM, GLIMMER, and BEACON pivotal studies of KSI-301 in diabetic macular edema and retinal vein occlusion in September 2020. These studies are anticipated to form the basis of the Company’s initial BLA to support potential approval and commercialization. An additional pivotal study in patients with non-proliferative diabetic retinopathy is planned. Kodiak Sciences Inc. is developing KSI-301 and owns global rights to KSI-301.

About the KSI-301 Clinical Program

The KSI-301 Clinical Program is designed to assess KSI-301’s safety, efficacy and durability in wet AMD, DME, RVO and non-proliferative DR (without DME) through clinical studies run in parallel. We are conducting two Phase 3 studies in DME (the GLEAM and GLIMMER studies) to provide the mutually confirmatory studies required by FDA for initial demonstration of safety and efficacy. We also are conducting one study in wet AMD (our ongoing DAZZLE study) and one study in RVO (the BEACON study) to support approval in these indications. We intend to file this package together in a single BLA in 2022. We also plan to run an additional study in patients with non-proliferative DR without DME (the GLOW study). We expect that the global KSI-301 clinical program will be conducted at 150+ study sites in more than 10 countries.

About Kodiak Sciences Inc.

Kodiak (Nasdaq: KOD) is a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases. Founded in 2009, we are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally. Our ABC Platform™ uses molecular engineering to merge the fields of antibody-based and chemistry-based therapies and is at the core of Kodiak’s discovery engine. Kodiak’s lead product candidate, KSI-301, is a novel anti-VEGF antibody biopolymer conjugate being developed for the treatment of retinal vascular diseases including age-related macular degeneration, the leading cause of blindness in elderly patients in the developed world, and diabetic eye diseases, the leading cause of blindness in working-age patients in the developed world. Kodiak has leveraged its ABC Platform to build a pipeline of product candidates in various stages of development including KSI-501, our bispecific anti-IL-6/VEGF biopolymer conjugate for the treatment of neovascular retinal diseases with an inflammatory component, and we are expanding our early research pipeline to include ABC Platform based triplet inhibitors for multifactorial retinal diseases such as dry AMD and glaucoma. Kodiak is based in Palo Alto, CA. For more information, please visit www.kodiak.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and include statements regarding our beliefs about KSI-301’s clinical efficacy, durability and safety; our ability to achieve our 2022 Vision, including a single BLA submission in wet AMD, DME and RVO; our platform technology and potential therapies; future development plans; clinical and regulatory objectives and the timing thereof, anticipated design of planned clinical trials, expectations regarding the potential efficacy and commercial potential of our product candidates; the anticipated presentation of data; the results of our research and development efforts and our ability to advance our product candidates into later stages of development. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “pursue,” and other similar expressions among others. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the preliminary safety, efficacy and durability data for our KSI-301 product candidate will not continue or persist; cessation or delay of any of the ongoing clinical studies and/or our development of KSI-301 may occur; future potential regulatory milestones of KSI-301, including those related to current and planned clinical studies may be insufficient to support regulatory submissions or approval; anticipated presentation of data at upcoming conferences may not occur; our research and development efforts and our ability to advance our product candidates into later stages of development may fail; any one or more of our product candidates may not be successfully developed, approved or commercialized; adverse conditions in the general domestic and global economic markets; as well as the other risks identified in our filings with the Securities and Exchange Commission. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in our most recent Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Kodiak undertakes no obligation to update forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.

Kodiak®, Kodiak Sciences®, ABC™, ABC Platform™ and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc. in various global jurisdictions.

Kodiak Contact:

John Borgeson

Senior Vice President and Chief Financial Officer
Tel (650) 281-0850
[email protected]

 

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SOURCE Kodiak Sciences Inc.

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Supernus to Present at Two November Investor Conferences

ROCKVILLE, Md., Nov. 11, 2020 (GLOBE NEWSWIRE) — Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced that the Company’s management will present an overview and update, as well as host investor meetings, at the following virtual investor conferences in November 2020.

Stifel 2020 Healthcare Conference
Date: Monday, November 16, 2020
Presentation Time: 9:20 a.m. ET

Jefferies Virtual London Healthcare Conference
Date: Tuesday, November 17, 2020
Presentation Time: 1:45 p.m. ET

A live webcast of the presentation can be accessed by visiting Events & Presentations in the Investor Relations section on the Company’s website at www.supernus.com. An archived replay of this webcast will be available for 60 days on the Company’s website after the conference.

About Supernus Pharmaceuticals, Inc.

Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company markets Trokendi XR® (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy; Oxtellar XR® (extended-release oxcarbazepine) for the treatment of epilepsy; APOKYN® (apomorphine hydrochloride injection) for the acute treatment of hypomobility in advanced Parkinson’s disease (PD); MYOBLOC® (rimabotulinumtoxinB) for the treatment of cervical dystonia and treatment of chronic sialorrhea in adults; and XADAGO® (safinamide) as an adjunctive treatment to levodopa/carbidopa in PD patients with hypomobility. The Company is also developing several product candidates to address large market opportunities in the CNS market, including SPN-812 for the treatment of ADHD; SPN-830 (apomorphine infusion pump) for the continuous treatment of motor fluctuations (“on-off” episodes) in PD; SPN-820 for treatment-resistant depression; and SPN-817 for the treatment of epilepsy.

See full Prescribing Information for our products here: Trokendi XR, Oxtellar XR, APOKYN, MYOBLOC, and XADAGO.

All trademarks are the property of their respective owners.

CONTACTS:

Jack A. Khattar, President and CEO
Jim Kelly, Executive Vice President and CFO
Supernus Pharmaceuticals, Inc.
Tel: (301) 838-2591

or

INVESTOR CONTACT:

Peter Vozzo
Westwicke, an ICR Company
Office: (443) 213-0505
Mobile: (443) 377-4767
Email: [email protected]

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Positive Impact of Workplace Health & Well-being Programs Highlighted by Cigna Study

PR Newswire

Report explores the impact of workplace wellness programs; alongside expert insights into how to deliver effective initiatives and measure return on investment (ROI)

HONG KONG, Nov. 12, 2020 /PRNewswire/ — Cigna (NYSE:CI) International Markets and Asia Care Group, a leading international research consultancy, today published a new report titled, Health and Wellness in Workplaces: What Works? – ROI analysis of Health and Wellness Interventions, to provide insight into the impact of employee wellness programs.   

The report, a summary of which is available to download by clicking here, is the largest systemic global review into the impact of workplace wellness interventions and reveals that:

  • When properly designed and implemented, most wellness programs yield positive returns by reducing healthcare costs, absenteeism, and delivering productivity gains
  • Mental health interventions yield the most significant ROI compared to other types of lifestyle management initiatives
  • Wellness programs with low investment levels often achieve excellent ROI if they are well designed
  • Strong support from middle managers is crucial to success, particularly in programs related to mental health

Focused programs deliver the greatest impact

The report reveals that the most successful wellness programs are those that have been carefully selected to tackle specific loss-drivers. For example, implementing case management to drive reductions in absenteeism, disease management to reduce healthcare claims costs, and lifestyle programs to tackle physical health. As an important first step, employers should review employee data that has been collected from health screenings or self-reported health assessments, to identify the specific underlying drivers of ill-health or poor well-being prior to designing a wellness program.  

Mental health interventions yield the most significant ROI 

The report identified that mental health interventions yielded high returns, with the most effective program achieving a sixty-fold return on the initial investment. Mental health-related programs include stress management coaching for employees, providing work-life balance training sessions, and meditation classes.

Specifically, stress management interventions, such as counseling sessions with clinical professionals, and well-being support, such as online coaching, yielded high returns compared to the other interventions.


Jason Sadler, President, Cigna International Markets said: “The concept of workplace wellness has risen up the corporate agenda and employers recognize that investment in effective programs helps employees to be healthier and more productive. Our report shows that mental health initiatives yielded up to a sixty-fold return on investment, yet our latest COVID-19 Global Impact Study showed that only 26% of people said their employers currently offer such support. With 53% of people now saying they want more well-being support; this report is a valuable tool to help employers and HR professionals to design such programs.”   

Middle managers play a vital role

Programs with middle management support averaged an ROI of 10x the initial investment. This is due to these individuals having the highest level of direct team management within most organizations. Therefore, to help instil health and wellness across an organization, middle management should be central to program design and implementation.  

Dr. Dawn Soo, Regional Medical Officer & Head of Wellness, Asia Pacific, Cigna said: “Companies should identify wellness champions from middle management that possess the passion and influence to motivate employees. These people will help ensure the success of wellness efforts by socially connecting with employees and helping to educate colleagues about the programs on offer and their benefits.”

Wellness programs are successful, even with limited investment

The study highlights that a comprehensive wellness program can be developed with a low level of investment and still yield high returns when they are well designed and supported. Out of the 90 wellness programs that reported investment levels, low investment programs (<US$100/person/year) reported  ROI of 13.2x, compared to 3.2x for moderate investments (US$100-200/person/year), and 3.0x for high investments (>US$200/person/year).

In addition to monetary incentives, the report also highlights several factors that have been shown to influence, and reduce, the level of required investment, including the infrastructure, capability and internal resources.

Sadler concluded, “Wellness programs which are grounded in a solid understanding of how well-being issues manifest in a workplace can generate impressive returns. The pandemic has shifted the way we work and employee programs must adapt to employees’ changing needs. It is therefore critical that employers develop robust frameworks to ensure that all well-being interventions deliver the desired impact.”  

Health and Wellness in Workplaces: What Works? report methodology:

Cigna commissioned the “Health and Wellness in Workplaces: What Works? – ROI Analysis of Health & Wellness Interventions” report, in partnership with Asia Care, a leading research consultancy. An evidence-based approach was taken to provide a broad and systematic literature review that assesses the economic impact of workplace wellness interventions on a global scale. The report included data sourced from peer-reviewed academic journals (86 studies), from non-academic sources such as government reports and non-peer-reviewed journals (19 reports), and studies of wellness programs conducted after 1995. While the findings of the study focus on in-office/workplace settings and were pre-pandemic, the study remains highly relevant for employers today as it provides wellness solutions that can address employees’ health and well-being concerns.

The report summary is available to download at: https://www.cignainternational.com/static/docs/pdfs/en/Health-and-Wellness-in-Workplaces_What-Works_Executive-Summary-Report-by-Cigna-International-Markets.pdf

About Cigna

Cigna Corporation is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Cigna Life Insurance Company of New York, Connecticut General Life Insurance Company, Express Scripts companies or their affiliates, and Life Insurance Company of North America. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 170 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

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SOURCE Cigna