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Eli Lilly To Acquire Prevail Therapeutics – Quick Facts

Dakar Designers Do their Best for Fashion Week

The 18th edition of Dakar Fashion Week hosted its main catwalk in a baobab forest in Senegal to maintain some social distancing. “With Covid, we had to be creative, I had to find solutions and above all we had to avoid (cancelling) the show, and here I think there is enough space so that no one feels cramped,” says Adama Ndiaye, producer at Dakar Fashion Week. The collections of 16 designers were presented under the shade of the distinctive indigenous trees.

Shaftesbury FY EPRA Profit Declines – Quick Facts

Shaftesbury PLC (SHB.L) reported a loss before tax of 699.5 million pounds for the year ended 30 September 2020 compared to profit of 26.0 million pounds, prior year. Loss per share was 227.5 pence compared to profit of 8.5 pence. The Group noted that the decrease was primarily due to revaluation deficits in the current year. EPRA earnings was 29.4 million pounds, down 46.2%. EPRA earnings per share was 9.6 pence compared to 17.8 pence.

Fiscal year revenue declined to 124.5 million pounds from 126.9 million pounds, previous year. Rental income was 114.4 million pounds compared to 117.3 million pounds. Net property income was down 24.2% to 74.3 million pounds.

The Board plans to resume dividend payments as soon as it considers prudent, maintaining its policy of sustainable dividend growth over the long-term.

Kayleigh McEnany Gets Damning Reality Check After Blasting Joe Biden’s Speech

White House press secretary Kayleigh McEnany sparked anger and backlash on Twitter Monday after she ranted about what she described as President-elect Joe Biden’s “DIVISIVE” speech.

Biden called out President Donald Trump’s futile efforts to overturn the 2020 election result in a fiery address after the Electoral College confirmed he would become the next president.

“We all wish that our fellow Americans in these positions will always show such courage and commitment to free and fair elections, but it is my sincere hope we never again see anyone subjected to the kind of threats and abuse we saw from the selection,” said Biden. “It’s simply unconscionable.”

McEnany lashed out with this tweet:

Twitter applied a fact-checking label to the post, noting that McEnany’s “claim about election fraud is disputed.”

Other Twitter users then followed suit:

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Eaton To Buy 50% Stake In HuanYu High Tech – Quick Facts

Power management company Eaton Corp. plc (ETN) said Tuesday it has agreed to acquire a 50 percent stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and markets low-voltage circuit breakers and contactors in China, and the Asia-Pacific region. Financial terms of the deal were not disclosed.

HuanYu High Tech recorded sales of $106 million in 2019 and has production operations in Wenzhou, China.

The transaction, which expands Eaton’s range of low-voltage electrical components sold in Asia Pacific, is expected to close in the second quarter of 2021.

“HuanYu High Tech’s strong product portfolio and manufacturing capabilities, combined with Eaton’s global scale and access to the broader Southeast Asian market, opens up many exciting opportunities for us to grow our business in Asia,” said Howard Liu, president, Asia-Pacific Region, Electrical Sector and Corporate China, Eaton.

Britain Launches Mass Vaccination Against COVID-19

Britain’s 90-year-old Margaret Keenan became the first person in the world to get coronavirus vaccine after completing clinical trials.

The nonagenarian was given the vaccine through injection at University Hospital in Coventry as part of the mass vaccination program launched in the United Kingdom Tuesday.

“It’s the best early birthday present I could wish for because it means I can finally look forward to spending time with my family and friends in the New Year after being on my own for most of the year,” said Keenan, who turns 91 next week.

The United Kingdom is the first Western country in the world to start mass vaccination program against the pandemic.

UK is rolling out the vaccine manufactured by U.S. pharma giant Pfizer and its German partner BioNTech.

The anti-COVID-19 vaccine BNT162b2 received temporary authorization for emergency use in the U.K. last week, marking the first authorization in the world for a vaccine against the pandemic.

It is the beginning of the end of the pandemic, according to UK Health Secretary Matt Hancock.

Health workers will be one of the first to get the vaccine.

The UK government is in deal with Pfizer for around 40 million doses of the vaccine.

Meanwhile, Canada entered into a deal with Pfizer to start early delivery of doses of Pfizer-BioNTech’s COVID-19 vaccine, Canadian Prime Minister Justin Trudeau revealed in a tweet. The country expects to receive up to 249,000 of initial doses of the vaccine this month.

Eli Lilly To Acquire Prevail Therapeutics – Quick Facts

Eli Lilly and Company (LLY) and Prevail Therapeutics Inc. (PRVL) announced a definitive agreement for Lilly to acquire Prevail for $22.50 per share in cash (or an aggregate of approximately $880 million) payable at closing plus one non-tradable contingent value right worth up to $4.00 per share in cash (or an aggregate of approximately $160 million), for a total consideration of up to $26.50 per share in cash (or an aggregate of approximately $1.04 billion).

Prevail is a biotechnology company developing potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases. Prevail is developing PR001 for patients with Parkinson’s disease with GBA1 mutations (PD-GBA) and neuronopathic Gaucher disease (nGD); PR006 for patients with frontotemporal dementia with GRN mutations (FTD-GRN); and PR004 for patients with certain synucleinopathies.

Eli Lilly noted that there will be no change required to the company’s 2021 financial guidance for research and development expense or non-GAAP earnings per share as a result of the transaction.