Connect with us

Government

RFK Jr. Sees Surge In Fundraising After Declaring Independent Run

RFK Jr. Sees Surge In Fundraising After Declaring Independent Run

Authored by Jeff Louderback via The Epoch Times (emphasis ours),

Within…

Published

on

RFK Jr. Sees Surge In Fundraising After Declaring Independent Run

Authored by Jeff Louderback via The Epoch Times (emphasis ours),

Within hours of Robert F. Kennedy Jr.'s announcement that he will run for president as an independent and not a Democrat, the super PAC supporting his candidacy raised more than $11 million.

Presidential candidate Robert F. Kennedy Jr. makes a campaign announcement at a press conference in Philadelphia, Pa. on Oct. 9, 2023. Mr. Kennedy announced he will end his Democratic primary bid and will run for president as an independent. (Jessica Kourkounis/Getty Images)

American Values 2024 disclosed on Oct. 10 that it has generated $11.28 million since Mr. Kennedy told an audience in front of the National Constitution Center in Philadelphia, “I'm here to declare myself an independent candidate for president of the United States.”

Individual events have spurred bountiful fundraising for Mr. Kennedy. In September, a private fundraiser performance by musician Eric Clapton generated more than $2 million that was split between the campaign and American Values 2024.

The organization tallied about $6.47 million in July from a mix of donors who are registered Democrats and Republicans, according to American Values 2024. That number included about $5 million collected during Mr. Kennedy’s testimony in a hearing about censorship before the House Judiciary Select Subcommittee on the Weaponization of the Federal Government.

Individuals can give as much as $3,300 to a political candidate’s campaign, according to the Federal Election Commission.

Super political action committees (PACs) are allowed to raise unlimited sums of money from corporations, unions, associations, and individuals and “spend unlimited sums to overtly advocate for or against political candidates,” according to OpenSecrets, an organization that tracks money in U.S. politics and its impact on elections and public policy.

Unlike traditional PACs, super PACS may not contribute money directly to political candidates.

Prominent Democratic Party donors like Abby Rockefeller have contributed to American Values 2024, but Republican donors have given a majority of the money the super PAC has received, including former President Donald Trump donor Tim Mellon, according to American Values 2024 reports.

Tony Lyons, co-chair of American Values 2024, spoke to The Epoch Times about the influx of support.

“People feel that the Democratic National Committee was disenfranchising them and that Bobby would not get the nomination based on the rules the DNC was putting into place and the inflammatory statements they have made about him time after time,” he said.

They feel that their vote wouldn’t count, and that their donation wouldn’t be helpful because the primary would be rigged. Just as Bobby Kennedy sees a path to victory as an independent, so do the donors that were reluctant to contribute with him running as a Democrat,” Mr. Lyons explained.

Robert F. Kennedy Jr. speaks at a campaign event in Philadelphia on Oct. 9, 2023. (NTD/Screenshot via NTD)

George Washington, America’s first president, is the only independent candidate to win election to the nation’s highest office. No independent candidate has won an electoral vote in the past 50 years. America, Mr. Kennedy believes, is ready for “a new page in American politics.”

There have been independent candidates before. But this time is different. This time, the independent is going to win,” Mr. Kennedy said.

During his Oct. 9 announcement in Philadelphia, Mr. Kennedy noted that  “three-fourths of Americans believe President (Joe) Biden is too old to govern effectively. President Trump faces multiple civil and criminal trials. Both have favorability ratings deep in negative territory.”

He also referenced a recent Gallup poll showing that 63 percent of U.S. adults agree with the statement that the Republican and Democrat parties do “such a poor job” of representing Americans that “a third major party is needed.”

A Reuters/Ipsos poll released last week indicated that Mr. Kennedy could draw support from around one in seven U.S. voters in the 2024 presidential election. In a three-way race, President Trump received 33 percent support compared to 31 percent for President Biden and 14 percent for Mr. Kennedy.

Ahead of Mr. Kennedy’s Oct. 9 announcement, a poll commissioned by American Values 2024 and conducted by John Zogby Strategies showed that, in a three-way matchup, President Trump and President Biden were tied at 38 percent each, and Mr. Kennedy generated 19 percent support.

“The media pundits will tell you we have no chance. They say my only impact will be to draw votes from other candidates,” Mr. Kennedy said on Oct. 9 in Philadelphia.

“The Democrats are terrified I’ll spoil the election for President Biden. The Republicans fear I’ll spoil it for President Trump. The truth is—they’re both right! But only their inside-the-beltway myopia deludes them into thinking we have no chance to win.”

American Values 2024 will hire surrogates to go out in public and amplify his message.

“He [Mr. Kennedy] thinks this election will be won by reaching voters through podcasts and alternative media outlets that have more readers and viewers than legacy media,” Mr. Lyons said.

American Values 2024 has raised around $28 million since its inception in fall 2022, according to Mr. Lyons. The organization believes it can raise $100 million by the end of December.

Supporters of Robert F. Kennedy Jr. listen to the announcement that he will run as an independent for president, in Philadelphia, on Oct. 9, 2023. (Jeff Louderback/The Epoch Times)

The super PAC is also building a volunteer network, launching a Robert F. Kennedy Jr. fitness program, and organizing car caravans to travel across the country. Some of the money will be used for targeted advertisements in newspapers and on billboards and social media.

Since announcing his candidacy in April to challenge President Joe Biden for the 2024 Democrat party nomination, Mr. Kennedy has gained widespread support from conservative and moderate Republicans, independents, Libertarians, and moderate Democrats.

Last week, the Conservative Political Action Conference (CPAC) said that Mr. Kennedy would address the organization’s Investor Summit to Save America in Las Vegas later this month. Republican presidential candidate Vivek Ramaswamy and Kari Lake, who narrowly lost a gubernatorial bid in Arizona last year and is now running for U.S. Senate, will also speak.

Robert F. Kennedy Jr. has a unique voice in advocating for the defunding of the weaponized bureaucracy and ensuring the constitutional right of medical freedom," CPAC Chairman Matt Schlapp said in a statement. "Kennedy joining such an important event is a reflection of the splintering of the left-wing coalition that has gone full woke Marxist to the point that traditional liberals don't feel welcome anymore.”

Mr. Kennedy said that “declaring independence from the Democratic party” was a “painful” decision that he did not take lightly because of his family’s history with the party.

During an August interview with The Epoch Times in Columbia, South Carolina, he said, “I’m a Democrat. The Democrat party has lost its way, and I want to return it to its traditional ideals.”

Mr. Kennedy faced what he deemed multiple roadblocks to “fair primary elections” from the DNC. Earlier this year, the organization voted to give President Biden its full support. At the same meeting, the DNC voted to replace New Hampshire with South Carolina as the first-in-the-nation primary state. The organization has warned that New Hampshire will face potential penalties if that state’s Democrat primary does not comply with new primary calendar plans.

Mr. Kennedy told supporters in New Hampshire that he would have to make a decision before Oct. 15 to run as an independent and that it would require about $15 million in funds to get on the ballot in all 50 states.

Tyler Durden Thu, 10/12/2023 - 19:40

Read More

Continue Reading

Government

Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide…

Published

on

Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide Black Lives Matter riots in the summer of 2020, some elite colleges and universities shredded testing requirements for admission. Several years later, the test-optional admission has yet to produce the promising results for racial and class-based equity that many woke academic institutions wished.

The failure of test-optional admission policies has forced Dartmouth College to reinstate standardized test scores for admission starting next year. This should never have been eliminated, as merit will always prevail. 

"Nearly four years later, having studied the role of testing in our admissions process as well as its value as a predictor of student success at Dartmouth, we are removing the extended pause and reactivating the standardized testing requirement for undergraduate admission, effective with the Class of 2029," Dartmouth wrote in a press release Monday morning. 

"For Dartmouth, the evidence supporting our reactivation of a required testing policy is clear. Our bottom line is simple: we believe a standardized testing requirement will improve—not detract from—our ability to bring the most promising and diverse students to our campus," the elite college said. 

Who would've thought eliminating standardized tests for admission because a fringe minority said they were instruments of racism and a biased system was ever a good idea? 

Also, it doesn't take a rocket scientist to figure this out. More from Dartmouth, who commissioned the research: 

They also found that test scores represent an especially valuable tool to identify high-achieving applicants from low and middle-income backgrounds; who are first-generation college-bound; as well as students from urban and rural backgrounds.

All the colleges and universities that quickly adopted test-optional admissions in 2020 experienced a surge in applications. Perhaps the push for test-optional was under the guise of woke equality but was nothing more than protecting the bottom line for these institutions. 

A glimpse of sanity returns to woke schools: Admit qualified kids. Next up is corporate America and all tiers of the US government. 

Tyler Durden Mon, 02/05/2024 - 17:20

Read More

Continue Reading

International

Four burning questions about the future of the $16.5B Novo-Catalent deal

To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.
Beyond spending billions of dollars to expand…

Published

on

To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.

Beyond spending billions of dollars to expand its own production capacity for its weight loss drugs, the Danish drugmaker said Monday it will pay $11 billion to acquire three manufacturing plants from Catalent. It’s part of a broader $16.5 billion deal with Novo Holdings, the investment arm of the pharma’s parent group, which agreed to acquire the contract manufacturer and take it private.

It’s a big deal for all parties, with potential ripple effects across the biotech ecosystem. Here’s a look at some of the most pressing questions to watch after Monday’s announcement.

Why did Novo do this?

Novo Holdings isn’t the most obvious buyer for Catalent, particularly after last year’s on-and-off M&A interest from the serial acquirer Danaher. But the deal could benefit both Novo Holdings and Novo Nordisk.

Novo Nordisk’s biggest challenge has been simply making enough of the weight loss drug Wegovy and diabetes therapy Ozempic. On last week’s earnings call, Novo Nordisk CEO Lars Fruergaard Jørgensen said the company isn’t constrained by capital in its efforts to boost manufacturing. Rather, the main challenge is the limited amount of capabilities out there, he said.

“Most pharmaceutical companies in the world would be shopping among the same manufacturers,” he said. “There’s not an unlimited amount of machinery and people to build it.”

While Novo was already one of Catalent’s major customers, the manufacturer has been hamstrung by its own balance sheet. With roughly $5 billion in debt on its books, it’s had to juggle paying down debt with sufficiently investing in its facilities. That’s been particularly challenging in keeping pace with soaring demand for GLP-1 drugs.

Novo, on the other hand, has the balance sheet to funnel as much money as needed into the plants in Italy, Belgium, and Indiana. It’s also struggled to make enough of its popular GLP-1 drugs to meet their soaring demand, with documented shortages of both Ozempic and Wegovy.

The impact won’t be immediate. The parties expect the deal to close near the end of 2024. Novo Nordisk said it expects the three new sites to “gradually increase Novo Nordisk’s filling capacity from 2026 and onwards.”

As for the rest of Catalent — nearly 50 other sites employing thousands of workers — Novo Holdings will take control. The group previously acquired Altasciences in 2021 and Ritedose in 2022, so the Catalent deal builds on a core investing interest in biopharma services, Novo Holdings CEO Kasim Kutay told Endpoints News.

Kasim Kutay

When asked about possible site closures or layoffs, Kutay said the team hasn’t thought about that.

“That’s not our track record. Our track record is to invest in quality businesses and help them grow,” he said. “There’s always stuff to do with any asset you own, but we haven’t bought this company to do some of the stuff you’re talking about.”

What does it mean for Catalent’s customers? 

Until the deal closes, Catalent will operate as a standalone business. After it closes, Novo Nordisk said it will honor its customer obligations at the three sites, a spokesperson said. But they didn’t answer a question about what happens when those contracts expire.

The wrinkle is the long-term future of the three plants that Novo Nordisk is paying for. Those sites don’t exclusively pump out Wegovy, but that could be the logical long-term aim for the Danish drugmaker.

The ideal scenario is that pricing and timelines remain the same for customers, said Nicole Paulk, CEO of the gene therapy startup Siren Biotechnology.

Nicole Paulk

“The name of the group that you’re going to send your check to is now going to be Novo Holdings instead of Catalent, but otherwise everything remains the same,” Paulk told Endpoints. “That’s the best-case scenario.”

In a worst case, Paulk said she feared the new owners could wind up closing sites or laying off Catalent groups. That could create some uncertainty for customers looking for a long-term manufacturing partner.

Are shareholders and regulators happy? 

The pandemic was a wild ride for Catalent’s stock, with shares surging from about $40 to $140 and then crashing back to earth. The $63.50 share price for the takeover is a happy ending depending on the investor.

On that point, the investing giant Elliott Investment Management is satisfied. Marc Steinberg, a partner at Elliott, called the agreement “an outstanding outcome” that “clearly maximizes value for Catalent stockholders” in a statement.

Elliott helped kick off a strategic review last August that culminated in the sale agreement. Compared to Catalent’s stock price before that review started, the deal pays a nearly 40% premium.

Alessandro Maselli

But this is hardly a victory lap for CEO Alessandro Maselli, who took over in July 2022 when Catalent’s stock price was north of $100. Novo’s takeover is a tacit acknowledgment that Maselli could never fully right the ship, as operational problems plagued the company throughout 2023 while it was limited by its debt.

Additional regulatory filings in the next few weeks could give insight into just how competitive the sale process was. William Blair analysts said they don’t expect a competing bidder “given the organic investments already being pursued at other leading CDMOs and the breadth and scale of Catalent’s operations.”

The Blair analysts also noted the companies likely “expect to spend some time educating relevant government agencies” about the deal, given the lengthy closing timeline. Given Novo Nordisk’s ascent — it’s now one of Europe’s most valuable companies — paired with the limited number of large contract manufacturers, antitrust regulators could be interested in taking a close look.

Are Catalent’s problems finally a thing of the past?

Catalent ran into a mix of financial and operational problems over the past year that played no small part in attracting the interest of an activist like Elliott.

Now with a deal in place, how quickly can Novo rectify those problems? Some of the challenges were driven by the demands of being a publicly traded company, like failing to meet investors’ revenue expectations or even filing earnings reports on time.

But Catalent also struggled with its business at times, with a range of manufacturing delays, inspection reports and occasionally writing down acquisitions that didn’t pan out. Novo’s deep pockets will go a long way to a turnaround, but only the future will tell if all these issues are fixed.

Kutay said his team is excited by the opportunity and was satisfied with the due diligence it did on the company.

“We believe we’re buying a strong company with a good management team and good prospects,” Kutay said. “If that wasn’t the case, I don’t think we’d be here.”

Amber Tong and Reynald Castañeda contributed reporting.

Read More

Continue Reading

International

Petrina Kamya, Ph.D., Head of AI Platforms at Insilico Medicine, presents at BIO CEO & Investor Conference

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb….

Published

on

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

Credit: Insilico Medicine

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

The session will look at how the latest artificial intelligence (AI) tools – including generative AI and large language models – are currently being used to advance the discovery and design of new drugs, and which technologies are still in development. 

The BIO CEO & Investor Conference brings together over 1,000 attendees and more than 700 companies across industry and institutional investment to discuss the future investment landscape of biotechnology. Sessions focus on topics such as therapeutic advancements, market outlook, and policy priorities.

Insilico Medicine is a leading, clinical stage AI-driven drug discovery company that has raised over $400m in investments since it was founded in 2014. Dr. Kamya leads the development of the Company’s end-to-end generative AI platform, Pharma.AI from Insilico’s AI R&D Center in Montreal. Using modern machine learning techniques in the context of chemistry and biology, the platform has driven the discovery and design of 30+ new therapies, with five in clinical stages – for cancer, fibrosis, inflammatory bowel disease (IBD), and COVID-19. The Company’s lead drug, for the chronic, rare lung condition idiopathic pulmonary fibrosis, is the first AI-designed drug for an AI-discovered target to reach Phase II clinical trials with patients. Nine of the top 20 pharmaceutical companies have used Insilico’s AI platform to advance their programs, and the Company has a number of major strategic licensing deals around its AI-designed therapeutic assets, including with Sanofi, Exelixis and Menarini. 

 

About Insilico Medicine

Insilico Medicine, a global clinical stage biotechnology company powered by generative AI, is connecting biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques for novel target discovery and the generation of novel molecular structures with desired properties. Insilico Medicine is developing breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system diseases, infectious diseases, autoimmune diseases, and aging-related diseases. www.insilico.com 


Read More

Continue Reading

Trending