Beyond Meat to launch two new versions of its meatless burger
- Beyond Meat will launch two new versions of its Beyond Burger early next year.
- The new burgers are meant to appeal to consumers looking for healthier choices.
- Meat-free burgers have drawn criticism in the past for marketing themselves as healthier than beef burgers.
Beyond Meat's line-up of meat substitutes will soon include two new versions of its Beyond Burger.
The new burgers are meant to offer consumers more choice and will launch nationwide early next year.
Beyond said that one of the patties is its juiciest yet but has 35% less saturated fat than a burger made from a blend of beef that is 80% lean meat and 20% fat. The other burger is meant to appeal more to a health-minded consumer, with 55% less saturated fat than a typical beef burger. Beyond said that the two burgers will have B vitamins and minerals, similar to beef.
As meat substitutes from Beyond and Impossible Foods have grown more popular in the last few years, their meat-free burgers have also drawn criticism for being marketed as a healthier alternative to red meat. Dietitians have said that it would be better for consumers to view plant-based burgers as an indulgence, as they would a beef burger.
Shares of Beyond, which has a market value of $7.88 billion, have risen 66% so far this year. The stock is up less than 1% in premarket trading on Monday.
Home Depot To Acquire HD Supply For $56/share – Quick Facts
The Home Depot has agreed to acquire HD Supply Holdings, Inc., a wholesale distributor in North America. The Home Depot said its subsidiary will commence a cash tender offer to purchase all outstanding shares of HD Supply common stock for $56 per share, for a total enterprise value of approximately $8 billion. The acquisition is expected to be funded through cash on hand and debt.
“We plan to access the debt capital markets to raise incremental indebtedness in support of this acquisition. We also expect the transaction to be accretive to earnings in fiscal 2021, with potential for significant shareholder value creation over the longer term,” said Richard McPhail, CFO.
HBO Max is finally launching on Amazon Fire TV
- WarnerMedia's HBO Max will begin rolling out Tuesday on Amazon Fire TV devices.
- The agreement comes roughly six months after HBO Max's launch.
- The terms of WarnerMedia's and HBO's deal were not disclosed. The companies had been in negotiations for several months.
WarnerMedia's HBO Max will begin rolling out this week on Amazon Fire TV and Fire tablets, roughly six months after its launch.
HBO Max debuted in May for phones and a variety of smart TV platforms, but was notably absent from two of the largest streaming TV platforms: Amazon Fire TV and Roku. It has yet to launch on Roku.
Starting Tuesday, the HBO app on Fire devices will automatically update to HBO Max, and users can sign in with their existing HBO credentials. Current HBO Max customers can access the app on their Fire devices using their existing credentials. New customers can subscribe to the streaming service directly in the app, for $14.99 per month. It's also available for people who already subscribe to HBO through Amazon Prime Video Channels.
The terms of WarnerMedia's and HBO's deal were not disclosed. The companies had been in negotiations for several months.
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Novavax’s COVID-19 Vaccine Candidate Gets FDA Fast Track Status
Novavax Inc. (NVAX) Monday announced that its coronavirus vaccine candidate was granted fast-track designation by the U.S. Food and Drug Administration.
NVX-CoV2373, the company’s COVID-19 vaccine candidate, is currently in late-phase clinical development. NVXCoV2373 is a stable, prefusion protein made using Novavax’ nanoparticle technology and includes its proprietary MatrixM adjuvant.
“The FDA’s decision to grant Fast Track Designation for NVX-CoV2373 reflects the urgent need for a safe and effective vaccine to prevent COVID-19, and we look forward to working closely with the agency to accelerate access to this vaccine,” said Gregory Glenn, President of Research and Development, Novavax.
Novavax said it expects to begin its pivotal Phase 3 clinical trial in the US and Mexico by the end of November. Data from the event-driven trial could support global authorization and approval, including in the U.S.
The company’s ongoing Phase 3 clinical trial in the UK to evaluate the efficacy, safety and immunogenicity of NVX-CoV2373 is expected to be fully enrolled by the end of November. Interim data in the UK trial are expected as soon as early first quarter 2021.
The FDA approval comes on the same day that Pfizer announced that its coronavirus vaccine candidate had a 90% efficacy rate in late-stage trials. The company plans to seek emergency-use authorization from the FDA.
NVAX is currently trading at $91.87, up $2.01 or 2.24%, on the Nasdaq.
Pfizer Completes Combination Of Upjohn And Mylan; Viatris To Begin Trading On Nov. 17
Pfizer Inc. (PFE) has completed the transaction to spin off its Upjohn Business and combine it with Mylan N.V. The combined company was renamed Viatris in connection with the closing. Viatris (VTRS) will begin trading on November 17, 2020. As of the closing, Pfizer stockholders owned approximately 57% of the outstanding shares of Viatris common stock, and Mylan shareholders owned approximately 43% of the outstanding shares of Viatris common stock.
Upjohn Inc. was spun off to Pfizer stockholders by way of a pro rata distribution and immediately thereafter combined with Mylan. Pfizer stockholders received approximately 0.124079 shares of Viatris common stock for every one share of Pfizer common stock held as of the close of business on the record date. Pfizer stockholders also retained as of the closing the same number of shares of Pfizer common stock as they held immediately prior to the transaction.