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Friday, December 2, 2011

China expects 48,000 new HIV cases this year

Sun Ya from Henan, left, shows a copy of an official document on HIV-infected children as he and others speak to journalists inside a medical clinic near the Ministry of Finance in Beijing Wednesday, Nov. 30, 2011. A handful of relatives of HIV or AIDS patients who contracted the virus through tainted transfusions planned to protest in front of the Ministry of Finance but abandoned the plan because of the tight security. China will have about 780,000 people infected with the AIDS virus by the end of this year, state media reported Wednesday, with most having contracted it through heterosexual sex. (AP Photo/Andy Wong)

A woman from Henan in central China shows cards bearing a photo of her son and the words "I'm an AIDS victim, we want to live, we want safeguard judicial justice" while speaking to journalists inside a medical clinic near the Ministry of Finance in Beijing Wednesday, Nov. 30, 2011. A handful of relatives of HIV or AIDS patients who contracted the virus through tainted transfusions planned to protest in front of the Ministry of Finance but abandoned the plan because of the tight security. China will have about 780,000 people infected with the AIDS virus by the end of this year, state media reported Wednesday, with most having contracted it through heterosexual sex. (AP Photo/Andy Wong)

Petitioners prepare to shows a protest banner which reads "affected by AIDS" to journalists inside a medical clinic near the Ministry of Finance in Beijing Wednesday, Nov. 30, 2011. A handful of relatives of HIV or AIDS patients who contracted the virus through tainted transfusions planned to protest in front of the Ministry of Finance but abandoned the plan because of the tight security. China will have about 780,000 people infected with the AIDS virus by the end of this year, state media reported Wednesday, with most having contracted it through heterosexual sex. (AP Photo/Andy Wong)

Students prepare red ribbons for an AIDS themed art exhibition at a college in Suining, in southwestern China's Sichuan province, Wednesday, Nov. 30, 2011. China will have about 780,000 people infected with the AIDS virus by the end of this year, state media reported Wednesday, with most having contracted it through heterosexual sex. (AP Photo) CHINA OUT

BEIJING (AP) ? China will have about 780,000 people infected with the AIDS virus by the end of this year, state media reported Wednesday, with most having contracted it through heterosexual sex.

The official Xinhua News Agency said a report from the Ministry of Health and the United Nations estimates there will be about 48,000 new HIV infections in China this year. Xinhua quoted the report as saying the virus remains "mildly prevalent" in China.

HIV gained a foothold in China largely because of unsanitary blood plasma buying schemes and tainted transfusions in hospitals. Health authorities say heterosexual sex has now overtaken drug abuse as the main method of transmission.

After ignoring or demonizing people with AIDS for much of the 1980s and 1990s, China's authoritarian government has taken a more compassionate line on the disease and combating its spread in recent years. But people with AIDS still face difficulties in getting treatment and compensation, and authorities remain deeply suspicious of independent activists.

On Wednesday, a handful of relatives of HIV or AIDS patients who contracted the virus through tainted transfusions planned to protest in front of the Ministry of Finance in Beijing but abandoned the plan because of the tight security there.

Organizer Sun Ya said the group was demanding government compensation. Sun's 15-year-old son contracted HIV from a tainted blood transfusion in 2002 at the Peking University Dental Hospital in Beijing.

Sun said he and others have tried to use the legal system to fight for compensation but courts have declined to take their cases, so they have resorted to sporadic protests in the capital.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/bbd825583c8542898e6fa7d440b9febc/Article_2011-11-30-AS-China-AIDS/id-a47b425e81b842a6911672638a75de72

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Idera Regains Cancer Drug Rights From Germany's Merck; Stock ...

Luke Timmerman 11/30/11

Idera Pharmaceuticals looked like it was in a pretty serious bind back in July when its partner, Germany-based Merck KGaA, terminated a collaboration to co-develop an experimental cancer drug. But now Idera is bouncing back a bit today, after saying it has regained global rights to the drug, and plans to continue developing it, even as Merck KGaA winds down its involvement.

Cambridge, MA-based Idera Pharmaceuticals (NASDAQ: IDRA) said today it has gotten back the global rights to IMO-2055 as a cancer drug that stimulates a key player in the innate immune system known as Toll-like receptor 9 (TLR9). Under the termination agreement, Merck KGaA will continue to conduct an ongoing mid-stage trial of the Idera treatment in combination with Eli Lilly?s cetuximab (Erbitux) in 104 patients with a form of head and neck cancer. The data from that trial, and other clinical studies that Merck KGaA helped conduct and finance, will belong to Idera.

The smaller company said it plans to reimburse Merck KGaA for about 1.8 million Euros of expenses associated with the mid-stage trial, spread over 12 months, starting in March.

Shares of Idera climbed 14 percent to $1.30 today after the news.

?We believe that regaining our rights to IMO-2055, as well as the rights to the clinical data, will provide us greater flexibility and control in the clinical development of IMO-2055 and the opportunity to pursue new business collaborations,? said Sudhir Agrawal, Idera?s chairman and CEO, in a statement. ?We appreciate the efforts made by the Merck KGaA team members in significantly advancing this program.?

Back in July, Idera said that Merck KGaA scrapped its collaboration after seeing patients suffer neutropenia, an excessive drop of infection-fighting white blood cells, when the Idera drug was given in combination with a couple of chemotherapy agents and Erbitux. Idera didn?t say whether that issue was resolved in today?s statement, but the ongoing mid-stage trial is designed to compare the Idera drug plus Erbitux to Erbitux alone, without any chemotherapy combination.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.

Source: http://www.xconomy.com/boston/2011/11/30/idera-regains-cancer-drug-rights-from-germanys-merck-stock-climbs/

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Thursday, December 1, 2011

Video: S&P Downgrades Bank of Israel

S&P downgrades Bank of Israel, with Todd Hagerman, Sterne Agee analyst. CNBC's Herb Greenberg also weighs in on what's trending on Twitter.

The Artist Wins Best Film from New York Film Critics Circle

The Artist with Berenice Bejo, right, and Jean Dujardin

The Weinstein Company

(NEW YORK) ? The New York Film Critics Circle has named "The Artist" the year's best film. The black-and-white ode to silent film, which itself is silent, also earned best director for Michel Hazanavicius. The nods for "The Artist" are likely to give a boost to its already promising Oscars prospects as the fall award season begins in earnest. (See the 100 best movies of all time.)

The critics otherwise spread the awards around, as they usually do. Brad Pitt won best actor for his performance in the baseball film "Moneyball" and in Terrence Malick's cosmic drama "Tree of Life." Both of those films also earned other awards: "Tree of Life" for best cinematography and "Moneyball" for best screenplay.

The New York critics announced their annual vote Tuesday on Twitter. The awards will be handed out at a ceremony Jan. 9.

See the world's most influential people in the 2011 TIME 100.

Who should be TIME's Person of the Year 2011? Vote for your choice here.

Source: http://www.rottentomatoes.com/m/1924034/news/1924034/

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Greece gets $10.7 billion but rescue plan stalls (AP)

BRUSSELS ? Eurozone ministers finally handed Greece an euro8 billion ($10.7 billion) rescue loan to fend off its immediate cash crisis yet failed to resolve overall fears about the viability of the euro.

Stock markets had risen hoping that intense bond market pressure would finally force the 17-nation eurozone into quicker and more robust action ? but that was not to be.

Even as Italy's borrowing costs skyrocketed to a euro-era record, the finance ministers failed to increase the European bailout fund to match earlier predictions and kicked other major financial issues ? like a closer fiscal union ? over to their bosses, the EU leaders meeting next week in Brussels.

The ministers did agree to use the fund to offer financial protection of 20 to 30 percent to investors who bought new bonds from troubled eurozone nations.

"We made important progress on a number of fronts," Jean-Claude Juncker, the eurozone chief, insisted late Tuesday. "This shows our complete determination to do whatever it takes to safeguard the financial stability of the euro."

The EU's monetary chief Olli Rehn said eurozone nations needed to work on many financial issues at once to ease global pressure on their currency.

"There is no one single silver bullet that will get us out of this crisis," Rehn told reporters.

But the question of how to beef up the leverage capacity of the European Financial Stability Facility from its current euro440 billion ($587 billion) to a hoped-for euro1 trillion ($1.3 trillion) was not resolved. The fund is supposed to be a firewall that protects European nations from the financial chaos of their neighbors.

Fund chief Klaus Regling refused to give a specific size for the fund after Tuesday's meeting, but assured reporters it was more than big enough to deal with Europe's immediate debt problems.

"To be clear, we do not expect investors to commit large amounts of money during the next few days or weeks," Regling said. "Leverage is a process over time."

Dutch Finance Minister Jan Kees de Jager said investors had appeared less eager than originally anticipated.

"It will be very difficult to reach something in the region of a trillion. Maybe half of that," he said.

Italy remained an enormous concern. Carrying five times as much debt as Greece, Italy was battered for the third straight day Tuesday in the bond markets, seeing its borrowing rates soar to unsustainable levels of 7.56 percent. Investors appear increasingly wary of the country's chances of avoiding default ? and making matters worse, the eurozone's third largest economy is deemed too big for Europe to bail out.

The ministers still insisted Italy's new prime minister has promised to balance Italy's budget by 2013.

"We have full confidence that Mario Monti will be able to deliver this program," Juncker said.

The eurozone ministers also called on the International Monetary Fund for more resources to help further protect Europe's embattled currency. But the IMF has only about $390 billion available to lend, which wouldn't be anywhere near enough to rescue Italy.

The eurozone ministers agreed to seek new ways to increase the resources of the IMF through bilateral loans that could protect EU nations facing financial trouble.

French Finance Minister Francois Baroin said it was "evident" that the eurozone was moving towards greater fiscal convergence and better coordination of budgets. He said, far from indicating a loss of national sovereignty, these moves would guarantee countries' sovereignty by helping them bring down their debt burdens.

"Reducing our debts is the best way to guarantee our sovereignty," he told reporters.

Eurozone countries have enormous debts that must be refinanced ? with euro638 billion ($852 billion) coming due in 2012 alone, 40 percent of which needs to be refinanced before May, according to Barclays Capital.

A failure of the euro would lead to drastic consequences around the world. Bank lending would freeze, stock markets would likely crash, European economies would go into a freefall, and the U.S. and Asia would take big hits to their economies as their exports to Europe collapsed.

___

Angela Charlton in Paris, Melissa Eddy and Juergen Baetz in Berlin and Don Melvin and Greg Keller in Brussels and Christopher S. Rugaber in Washington contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/ap/20111130/ap_on_bi_ge/eu_europe_financial_crisis

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First lawsuit filed against Penn State coach in abuse scandal (Reuters)

PHILADELPHIA (Reuters) ? A new accuser against former Penn State assistant football coach Jerry Sandusky said Sandusky sexually abused him "over 100 times" as a child.

The handwritten statement by a man, now 29, identified only as "John Doe A" accompanied a lawsuit filed on Wednesday in Philadelphia Common Pleas Court against Sandusky, Penn State University and The Second Mile, a charity founded by Sandusky to help troubled children.

Although the accuser is the ninth to emerge against Sandusky in relation to accusations of abuse, the lawsuit is the first to be filed in the scandal that has rocked the world of multimillion dollar college athletics.

(Reporting by Dave Warner; Editing by Barbara Goldberg and Jerry Norton)

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/nm/20111130/us_nm/us_crime_coach_pennstate

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Elephant Talk Communications Approved to Trade on NYSE Amex ...

Elephant Talk Communications Corp. (OTCBB: ETAK), today announced that the company has been approved to trade shares of its common stock on the NYSE Amex stock exchange. Elephant Talk anticipates its common stock will begin trading on the exchange on December 5, 2011, under the symbol ETAK. After commencement of trading on NYSE Amex, the Company's common stock will no longer be traded on the OTC Bulletin Board under the symbol OTCBB ETAK.

When it comes to investing, you cannot settle for anything less than the fastest and most efficient news feed. That is why we created Benzinga Pro. Sign up for a free trial today!

Source: http://www.benzinga.com/news/11/11/2160317/elephant-talk-communications-approved-to-trade-on-nyse-amex

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