Space Symposium 2023 Panel: NASA Leaders on 'Moon to Mars' Strategy Implementation

Pfizer Expands its Oncology Team by Acquiring Array BioPharma

Already a leader in the treatment of prostate and breast cancer,Pfizer,the world's largest pharmaceutical company,has further enlarged its oncology portfolio by completing its acquisition of Array BioPharma,Inc.,the company announced on 30 July 2019.This will advance breakthrough science for the discovery,development and commercialisation of targeted small molecule medicines to treat cancer and other diseases of high unmet need,Pfizer said.*
Array's portfolio included the approved combined use of BRAFTOVI (R) and MEKTOVI (R) for the treatment of two forms of unresectable or metastatic melanoma skin cancer,with significant potential for long-term growth with expansion into additional areas of unmet need.The combination is also being investigated as a potential first-in-class combination for the treatment of BRAF-mutant metastatic colorectal cancer (mCRC),based on interim results the company feels are compelling from the pivotal Phase 3 BEACON trial,according to Pfizer.They believe this application has industry-leading potential.*
Pfizer says it will maintain Array's operations in Cambridge,Massachusetts;Morrisville,North Carolina;and Boulder,Colorado.Array is now a wholly-owned subsidiary of the New York-based pharma titan.The all-cash deal had a value of around 11.4 billion dollars.*
Pfizer Inc (PFE)

World Finance Ministers Meet

The G-8 finance ministers,which include the U.S.,U.K.,Germany,Italy,Spain,Russia,Japan and Canada,met over the weekend in Rome to discuss the financial crisis.It was an opportunity for the ministers to speak with Timothy Geithner,the new U.S. Treasury Secretary,and hear the Obama administration's plans for dealing with the crisis.The G-8 focused on what to do about the troubled assets held by many large banks,that are causing the low confidence at the root of the crisis.Mr.Geithner suggeted a new public-private fund to insure some banks from further losses caused by troubled assets.Other banks could be relieved by a direct purchase of the assets by the new fund.The new rescue fund,together with an exisiting rescue fund,could add up to more than two trillion dollars.The rescue funds are in addition to the 787 billion dollar economic stimulus package to be signed into law by President Obama today in Colorado.The response must be massive,Mr.Geithner said,because the crisis itself is massive.The response must be deep and broad enough to last as long as the severe recession does.

Exxon Mobil's Shiny Quarter

Exxon Mobil(XOM),the largest western oil company,has reported brilliant results for the fourth quarter of 2007.The Irving,Texas firm has again justified its reputation for superb management.It's 11.7 billion dollar profit was the biggest in U.S. corporate history.Year over year,it posted a 40.6 billion profit.Its revenue was 116 billion.The money was made on higher oil and natural gas realizations,amounting to per share earnings that were 15 cents above estimate.Exxon even made money on downstream refinery operations at a time of rising costs.It bought back 88 million shares to stabilize prices,but also had to pay 30 billion in taxes.By some calculations,Exxon may no longer be the world's largest oil company.Petro China(PTR) is theoretically greater in terms of market capitalization,being worth an estimated one trillion dollars.China has dismissed such speculation,as it has no intention of relinquishing its control of PTR.The Chinese system is not equivalent to western capitalism,within which Exxon works.At any rate,the stupendously successful Exxon isn't concerned about such chatter.Among western oil companies,BP ranks second,while Royal Dutch Shell(RDSa) is third and Chevron(CVX) is fourth.Goldman Sachs(GS) says oil will be higher in 2008,with an average price of 95.00 U.S. a barrel.To ensure future production,Exxon is exploring several blocks off the coast of Libya for oil and gas deposits.Some of them are in deep water.At the same time,it is using Enhanced Oil Recovery technology at the mature Means Field in west Texas to greatly increase the field's output.As well,advanced 3-D seismic imagery of a Gulf of Mexico resivoir revealed new hydrocarbon deposits,which more than doubled production rates.In Colorado's Piceance Basin,advanced technology is allowing Exxon to unlock natural gas buried in rock up to 16,000 ft./4876.8 m deep.Shares of XOM were down in early European trading this morning.