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VFMCRP and Fresenius Kabi expand collaboration in nephrology in China with Veltassa^® agreement

• Veltassa^® is a well-tolerated¹ and effective² oral calcium potassium binder for the treatment of hyperkalemia supported by 12 month clinical data
• Veltassa^® will benefit from Fresenius Kabi’s market-leading nephrology patient access in China alongside Velphoro^® and Venofer^®
• China shows high prevalence of Chronic Kidney Disease (CKD) and heart failure³ 

ST GALLEN, Switzerland & BAD HOMBURG, Germany–(BUSINESS WIRE)–
Regulatory News:

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Vifor Fresenius Medical Care Renal Pharma (VFMCRP) and Fresenius Kabi today announced an agreement to develop, register and distribute Veltassa^® for the treatment of hyperkalemia in the People’s Republic of China. Under the agreement, Fresenius Kabi will have the exclusive right to distribute and sell Veltassa^® across China.

Stefan Schulze, CEO of Vifor Pharma Group comments, “We are delighted to expand VFMCRP’s collaboration with Fresenius Kabi. There is a high prevalence of CKD and heart failure in China³ and hyperkalemia is one of the most common complications associated with these two conditions. As a result there is a high demand for an effective, proven hyperkalemia treatment. The excellent commercial infrastructure, the well established relationships in nephrology and our existing successful collaboration make Fresenius Kabi our partner of choice to provide Veltassa^® to patients.”

Oskar Haszonits, President Region Asia Pacific of Fresenius Kabi said, “This agreement is an important step in intensifying our collaboration and relationship with VFMCRP in nephrology. We believe Veltassa^® has the potential to provide many benefits to patients across the country, and we look forward to adding it to our portfolio and working with VFMCRP.”

Hyperkalemia is a serious medical condition characterized by elevated levels of potassium in the blood and can be associated with life-threatening consequences. Patients with CKD and heart failure, especially those treated with RAAS (renin-angiotensin-aldosterone system) inhibitors are at particular risk of developing hyperkalemia. As a consequence, RAASi therapy, the cornerstone of treatment for CKD and heart failure, is often reduced or discontinued, compromising cardio-renal protection. By bringing Veltassa^® to China, VFMCRP and Fresenius Kabi will deliver a treatment that will enable patients to remain on RAASi therapy by managing their chronic hyperkalemia.

Fresenius Kabi is a global healthcare company that specializes in medicines and technologies for infusion, transfusion and clinical nutrition. In China, the company is among the top 10 multinational pharmaceutical companies, being a market leader in clinical nutrition, anesthesia and nephrology. Fresenius Kabi has around 6,000 employees in China.

Both parties have agreed to not disclose financial terms of the collaboration.

Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core business activities and consists of the following companies: Vifor Pharma and Vifor Fresenius Medical Care Renal Pharma (a joint company with Fresenius Medical Care). Vifor Pharma Group is headquartered in Switzerland, and listed on the Swiss Stock Exchange (SIX Swiss Exchange, VIFN, ISIN: CH0364749348).

For more information, please visit viforpharma.com

Fresenius Kabi is a global healthcare company that specializes in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition. The company’s products and services are used to help care for critically and chronically ill patients. Fresenius Kabi’s product portfolio comprises a comprehensive range of I.V. generic drugs, infusion therapies and clinical nutrition products as well as the devices for administering these products. In the field of biosimilars, Fresenius Kabi focuses on autoimmune diseases and oncology. In 2019, the first biosimilar product by Fresenius Kabi was launched. Within transfusion medicine and cell therapies, Fresenius Kabi offers products for collection of blood components and extracorporeal therapies.

With its corporate philosophy of “caring for life”, the company is committed to putting essential medicines and technologies in the hands of people who help patients and finding the best answers to the challenges they face.

For more information, please visit www.fresenius-kabi.com.

About Hyperkalemia

Approximately 73% of advanced Chronic Kidney Disease (CKD) and 40% of chronic heart failure patients may be at risk of elevated blood potassium levels⁴. Hyperkalemia can cause abnormal heart rhythms and even sudden death⁵. There are often no warning signs, meaning a person can unknowingly experience spikes in potassium levels recurrently and be at risk for these cardiac events. Some medicines that are often prescribed to people with CKD and heart failure to help delay progression of their underlying disease and reduce mortality can cause hyperkalemia as a side effect. These may include RAASi such as angiotensin receptor blockers (ARBs), aldosterone antagonists (AAs) and angiotensin converting-enzyme (ACE) inhibitors as well as angiotensin II receptor/neprilysin inhibitors (ARNI).

About Veltassa^®

Veltassa^® is a potassium binder approved for the treatment of hyperkalemia. Veltassa® was specially designed to exchange calcium rather than sodium for potassium ions, ensuring suitability for patients who cannot tolerate even small increases in sodium.Veltassa® should not replace emergency treatment for life-threatening hyperkalemia. Made in powder form, Veltassa® is mixed with water and taken once a day with or without food. Veltassa® is consisting of smooth, spherical, uniform microbeads too large to be absorbed, thus protecting the gastrointestinal tract. Veltassa® works primarily in the lumen of the colon where potassium concentration is highest, and the residence time of the polymer is the longest. The potassium is then excreted from the body through the normal excretion process.

¹ Veltassa^® EU SmPC 2019

² Agarwal R, et al. Lancet 2019;394:1540–50.

³ Zhang et al. Lancet. 2012 Mar 3;379(9818):815-22; Guo et al. Int J Environ Res Public Health 2016; 13: E770. Guo et al. Curr Cardiol Rev. 2013 May; 9(2): 112–122.

⁴ Rosano GCM, et al. Expert consensus document on the management of hyperkalaemia in patients with cardiovascular disease treated with renin angiotensin aldosterone system inhibitors: coordinated by the Working Group on Cardiovascular Pharmacotherapy of the European Society of Cardiology. Eur Heart J 2018;4:180-188.

⁵ Rastegar A, Soleimani M. Hypokalaemia and hyperkalaemia. Postgrad Med J. 2001;77:759-764.

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Communication skills are most valued competency across occupations, boosting earnings as much as 20%

Hilary Strahota
Georgetown University Center on Education and the Workforce
240-427-1483
[email protected]

ABB Capital Markets Day 2020

ZURICH–(BUSINESS WIRE)–
ABB will be hosting its Capital Markets Day today, November 19, starting 11.30 am CET, at which CEO, Björn Rosengren, and CFO, Timo Ihamuotila, as well as the four business area Presidents, will give an update on the recent strategic and operational developments, including:

• Improving performance under ABB Way
• Review of business portfolio
• ABB’s digital strategy
• Updated financial framework and long-term sustainability targets

“ABB is a leading technology company, now and in the future. We have the global R&D capabilities, digital solutions and innovation focus to support our customers. The COVID-19 pandemic still weighs on the near-term outlook, but the long-term market trends of electrification, automation, digitalization and energy efficiency remain intact. At the same time, we are taking additional steps to improve performance in order to drive value creation for all stakeholders going forward,” said CEO Björn Rosengren.

Improved performance in the making

Since the start of this year, ABB has further decentralized its organization to bring operating decisions closer to the customer and successfully rolled out its new operating model called ABB Way, including the introduction of a scorecard-based performance management system reinforced through incentivization. This creates a clear focus on stability and profitability before growth in order to strengthen underperforming divisions.

Furthermore, ABB has carried out a portfolio review of its divisions to ascertain whether it is ultimately the best owner. As a result, ABB has decided to explore all options to exit three divisions:

• Turbocharging (Industrial Automation)
• Mechanical Power Transmission (Motion)
• Power Conversion (Electrification)

These divisions represent roughly $1.75 billion of combined annual revenues or approximately six percent of ABB’s total revenues.

“All three divisions are high-quality businesses, with Operational EBITA margins above the group’s target margin corridor. In this process, we will seek the best value-accretive solution for ABB and those businesses and not put ourselves under time pressure,” said Rosengren. “Furthermore, portfolio reviews will continue to be a key element of the ABB Way.”

ABB will increase the number of divisions to 20 as of January 1, 2021, due to a split in the Motion business area portfolio, while Industrial Automation will be renamed Process Automation to better reflect its customer base.

CFO Timo Ihamuotila will highlight in his presentation that ABB has delivered on sustainable cost reductions: “Due to the reorganization of the Group, the ABB-OS target of $500 million net savings has been reached one year ahead of plan.”

ABB’s digital strategy

ABB has recently carried out a review of its digital strategy under the ABB Ability™ brand, which is comprised of software-enabled products and systems, as well as software and digital services. The company intends to accelerate the expansion of its digital offering that is tailored to specific sectors or applications based on ABB’s domain expertise. This will be done through increasing R&D and investments to about 5 percent of revenues per year and will be led by the business. This approach creates superior value for customers and drives a higher quality of revenues for the company. ABB will also continue to pursue select strategic partnerships in the digital sphere, as well as synergetic bolt-on acquisitions.

Updated financial framework

ABB is retaining its financial framework with modifications to certain targets in order to align with the ABB Way.

ABB’s capital allocation priorities remain unchanged, including funding organic growth, a rising sustainable dividend per share and value-creating acquisitions. As previously announced, ABB intends to return to shareholders net cash proceeds from the Power Grids divestment of $7.6-7.8 billion.

“ABB aims to deliver attractive returns to shareholders and retain a ‘single A’ credit rating,” said CFO Timo Ihamuotila. “We also aim to complete most of our capital structure optimization program by the end of the year in order to further de-risk our balance sheet and further improve performance.”

Long-term sustainability targets

ABB is announcing the launch of its new sustainability strategy and targets for 2030, which is rooted in ABB’s Purpose and centered on an intensive stakeholder listening phase comprised of interviews and analyzed feedback. Based on this, the company has created a comprehensive sustainability strategy that combines ABB’s higher ambition, impact, measurability and accountability across its value chain of operations, customers, suppliers and society at large.

“ABB is embedding sustainability in everything we do in order to create long-term value. Foremost, we are enabling customers to reduce their emissions and preserve resources because this is where ABB’s technology can have the greatest impact. Furthermore, our new targets will be tied to employee incentive plans thus driving performance and culture within our group, while we are proud to be contributing to the United Nations’ Sustainable Development Goals,” said Rosengren.

Note to editors: The Capital Markets Day, CEO/CFO presentation, as well as presentations from Business Areas and Divisions, can be followed under: https://global.abb/group/en/investors/strategy-events/capital-markets-day-2020 from 11.30 am to 5.15 pm CET.

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 110,000 talented employees in over 100 countries. www.abb.com

Important notice about forward-looking information

This press release includes forward-looking information and statements which are based on current expectations, estimates and projections about the factors that may affect our future performance, including the economic conditions of the regions and industries that are major markets for ABB. These expectations, estimates and projections are generally identifiable by statements containing words such as “anticipates”, “expects,” “believes,” “estimates,” “plans”, “targets”, “aims” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, business risks associated with the COVID-19 pandemic, the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

<sup>_____________________

1</sup> Calculated to exclude FX impacts and transformational acquisitions and divestments, includes bolt-on acquisitions and divestments within divisions.

² Annual savings in the year 2030 from all solutions provided to customers 2021-30

³ Wherever local conditions allow

⁴ Diversity & Inclusion framework

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Liberty Broadband Corporation Prices Upsized Private Offering of $750 Million of 1.25% Exchangeable Senior Debentures due 2050

ENGLEWOOD, Colo.–(BUSINESS WIRE)–
Liberty Broadband Corporation (“Liberty Broadband”) (Nasdaq: LBRDA, LBRDK) announced today that it has priced and agreed to sell to initial purchasers in an upsized private offering $750 million aggregate original principal amount of its 1.25% exchangeable senior debentures due 2050 (the “Debentures”) exchangeable for Charter Communications, Inc. (“Charter”) Class A common stock. Liberty Broadband has also granted the initial purchasers an option to purchase additional Debentures in an aggregate original principal amount of up to $75 million.

Upon an exchange of Debentures, Liberty Broadband, at its option, may deliver shares of Charter Class A common stock or the value thereof in cash or any combination of shares of Charter Class A common stock and cash. Initially, 1.1111 shares of Charter Class A common stock are attributable to each $1,000 original principal amount of Debentures, representing an initial exchange price of approximately $900.00 for each share of Charter Class A common stock. A total of approximately 833,325 shares of Charter Class A common stock are attributable to the Debentures (assuming the initial purchasers do not exercise their option to purchase additional Debentures). Interest will be payable quarterly on March 31, June 30, September 30 and December 31 of each year, commencing March 31, 2021. The Debentures may be redeemed by Liberty Broadband, in whole or in part, on or after October 5, 2023. Holders of Debentures also have the right to require Liberty Broadband to purchase their Debentures on October 5, 2023. The redemption and purchase price will generally equal 100% of the adjusted principal amount of the Debentures plus accrued and unpaid interest to the redemption date, plus any final period distribution.

The offering is expected to close on November 23, 2020, subject to the satisfaction of customary closing conditions.

Liberty Broadband intends to use the net proceeds of the offering for general corporate purposes, which may include the repayment of indebtedness and repurchases of shares of Liberty Broadband common stock.

The offering of the Debentures has not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Debentures are being offered by means of an offering memorandum solely to “Qualified Institutional Buyers” pursuant to, and as that term is defined in, Rule 144A of the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures nor shall there be any sale of Debentures in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the offering of Debentures and the use of proceeds therefrom. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, general market conditions. These forward-looking statements speak only as of the date of this press release, and Liberty Broadband expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Broadband’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty Broadband, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for risks and uncertainties related to Liberty Broadband which may affect the statements made in this press release.

About Liberty Broadband

Liberty Broadband Corporation’s (NASDAQ: LBRDA, LBRDK) businesses consist of its interest in Charter and its subsidiary Skyhook.

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Apple Announces Second Annual Apple Music Awards

Lil Baby wins top award of global Artist of the Year; Megan Thee Stallion, Taylor Swift, and Roddy Ricch also honored

CUPERTINO, Calif.–(BUSINESS WIRE)–
Apple® today announced the winners of the second annual Apple Music® Awards, recognizing the best and boldest musicians of 2020 and their enormous impact on global culture. The Apple Music Awards honor achievements in music across five distinct categories, and winners are chosen through a process that reflects both Apple Music’s editorial perspective and what customers around the world are loving most. The winners for global Artist of the Year, Songwriter of the Year, and Breakthrough Artist of the Year were hand-selected by Apple Music’s global editorial team of world-class experts and tastemakers, and the awards for Top Song of the Year and Top Album of the Year are based on streaming data that is reflective of what Apple Music subscribers have been listening to this year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201118006174/en/

The second annual Apple Music Awards recognizes the best and boldest musicians of 2020. (Photo: Business Wire)

The Apple Music Awards celebration kicks off Monday, December 14, 2020, with a week of special performances, fan events, interviews, and more, streaming worldwide on Apple Music, Apple Music TV, and the Apple TV® app. Fans who are not already subscribed to Apple Music can sign up for a three-month free trial at apple.com/apple-music.

“The Apple Music Awards is our opportunity to recognize and honor the incredible artists who we feel have deeply impacted and inspired the world and our customers, and helped us feel connected through music this year,” said Oliver Schusser, Apple’s vice president of Apple Music and Beats®. “We have an exciting week of music planned in December and are very much looking forward to celebrating together with these artists and their fans.”

And the winners are…

Artist of the Year: Lil Baby

In 2020, Lil Baby fully arrived as one of hip-hop’s biggest names, with billions of global streams and multiple tracks from “My Turn” topping the Apple Music charts. With his deeply moving and timely release, “The Bigger Picture,” he cemented his place as the indisputable, authentic voice of youth culture. His performance of the track at Apple Music’s Rap Life Live event was in itself a standout moment of 2020. Lil Baby has been an intriguing voice since his debut mixtape in 2017 — but 2020 is the year he became an undeniable global star.

Lil Baby said: “This year has changed me a lot. Now that I’m an artist, I feel like my voice can get heard through my music and I needed to say something. And my fans listened. So thank you to my fans and thank you to Apple Music for giving me a special way to connect to my fans.”

Breakthrough Artist of the Year: Megan Thee Stallion

With two No. 1 singles and a highly anticipated debut album on the way, it is safe to say Houston rapper Megan Thee Stallion is owning 2020. Her collaboration with Cardi B on “WAP” and with Beyoncé on the “Savage” remix have collectively been played on Apple Music more than 300 million times globally. The Apple Music Up Next alum is experiencing the kind of breakthrough year that defines the distinction, and she is just getting started.

Megan Thee Stallion said: “I am so excited to be the Breakthrough Artist of the Year. This is a really big accomplishment for me. Apple Music has been rocking with me for so long, even before making me an Up Next artist, and I am just very appreciative and very grateful. I will forever love ya’ll as much as ya’ll love me.”

Songwriter of the Year: Taylor Swift

Taylor Swift is without a doubt one of music’s preeminent and most decorated songwriters, and “folklore” is no exception. Written and recorded in isolation during the first few months of the COVID-19 pandemic, “folklore”instantly topped the Apple Music albums chart and set the record for the most streamed pop album on release day. With its wistful third-person stories about love triangles, ghosts, and trauma, “folklore” is a lyrical masterpiece.

Taylor Swift said: “Winning Songwriter of the Year in any capacity in any year would be so exciting, but I think it’s really special this particular year because songwriting was the one thing that kept me connected to my fans. It means a lot to me because the way that fans respond to the songs I write, and the emotional exchange, is what has really kept me going this year. So I really want to say thank you to the fans for that, and to everyone at Apple Music, thank you for everything that you do.”

Top Song of the Year: “The Box” by Roddy Ricch

Roddy Ricch’s breakout, “The Box,” was the year’s biggest and most popular single, accumulating more than 460 million Apple Music streams worldwide to date, launching countless memes, and topping the charts for more weeks than any other song in 2020.

Top Album of the Year: “Please Excuse Me for Being Antisocial” by Roddy Ricch

Following the success of “The Box,” the Compton rapper’s debut album, “Please Excuse Me for Being Antisocial,” has run up more than 1.5 billion Apple Music streams worldwide since its release.

Roddy Ricch said: “My first phone was the iPhone®. It’s crazy making music could get me to the point where a platform like Apple could honor me or put me on a pedestal. I just appreciate Apple Music to the farthest extent. Winning this award motivates me to work even harder. This is confirmation that I am on the right track and doing what I gotta do to be the greatest in my own right.”

About the Apple Music Awards

Apple has designed a series of physical awards that represent the extraordinary craftsmanship integral to creating music. Each award features Apple’s custom silicon wafer suspended between a polished sheet of glass and a machined and anodized aluminum body. The result of this multi-month process, before it is sliced into hundreds of individual chips, is stunning and distinctive. In a symbolic gesture, the same chips that power the devices that put the world’s music at our fingertips sit at the very heart of the Apple Music Awards.

About Apple Music

Apple loves music. With iPod® and iTunes®, Apple revolutionized the music experience by putting a thousand songs in your pocket. Today, Apple Music takes this to the ultimate with over 70 million songs, thousands of playlists, and daily selections from the world’s best music experts, including all of the artists and hosts broadcasting daily across its Apple Music 1, Apple Music Hits, and Apple Music Country global live streams. Since 2015, Apple Music has welcomed tens of millions of subscribers in 167 countries. Streaming seamlessly to iPhone, iPad®, iPod®, Apple Watch®, Apple TV, Mac®, HomePod®, and CarPlay®, Apple Music is the most complete music experience on the planet. Apple Music is also available on popular smart TVs, smart speakers, Android and Windows devices, and more — as well as online at music.apple.com.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042.

© 2020 Apple Inc. All rights reserved. Apple, the Apple logo, Apple Music, Apple TV, Beats, iPhone, iPod, iTunes, iPad, Apple Watch, Mac, HomePod, and CarPlay are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

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The second annual Apple Music Awards recognizes the best and boldest musicians of 2020. (Photo: Business Wire)