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WASHINGTON – The Commerce Department's efforts to curb China's and Russia's access to American-made advanced computer chips have been “inadequate” and will need more funding to stymie their ability to manufacture advanced weapons, according to a report published Wednesday by the Senate's Permanent Subcommittee on Investigations. The Biden administration imposed export controls to limit the ability of China and Russia ability to access U.S.-made chips after Russia's invasion of Ukraine nearly three years ago. Recommended Videos The agency's Bureau of Industry and Security, according to the report, does not have the resources to enforce export controls and has been too reliant on U.S. chip makers voluntarily complying with the rules. But the push for bolstering Commerce's export control enforcement comes as the incoming Trump administration says it is looking to dramatically reduce the size and scope of federal government . President-elect Donald Trump has tapped entrepreneurs Elon Musk and Vivek Ramaswamy to lead a new “Department of Government Efficiency” to dismantle parts of the federal government. The Trump transition team did not immediately respond to a request for comment on the report. BIS’s budget, about $191 million, has remained essentially flat since 2010 when adjusted for inflation. “While BIS’ budget has been stagnant for a decade, the bureau works diligently around the clock to meet its mission and safeguard U.S. national security,” Commerce Department spokesperson Charlie Andrews said in a statement in response to the report. Andrews added that with “necessary resources from Congress” the agency would be "better equipped to address the challenges that come with our evolving national security environment.” In a letter to Commerce Secretary Gina Raimondo on Wednesday, Democratic Sen. Richard Blumenthal of Connecticut, chair of the subcommittee, pointed to an audit of Texas Instruments that showed the Russian military continued to acquire components from Texas Instruments through front companies in Hong Kong to illustrate how the export controls are failing as an effective tool. The committee's findings, Blumenthal said, suggest that Texas Instruments “missed clear warning signs” that three companies in its distribution chain had been diverting products to Russia. Texas Instruments did not immediately respond to a request for comment. “While Congress must provide BIS more resources to undertake its critical mission, it is long past time for BIS to make full use of the enforcement powers Congress has conferred upon it and take aggressive steps to cut the flow of U.S. semiconductors into the Russian war machine,” Blumenthal wrote. It's not just Texas Instruments that's the issue. The subcommittee in September published a report that found aggregated exports from four major U.S. advanced chip manufacturers nearly doubled from 2021 to 2022 to Armenia and Georgia. Both of those countries are home to front companies known to assist Russia in acquiring advanced chips made in the U.S. despite export controls. China, meanwhile, has created “vast, barely disguised smuggling networks which enable it to continue to harness U.S. technology,” the subcommittee report asserts. Washington has been gradually expanding the number of companies affected by such export controls in China, as President Joe Biden’s administration has encouraged an expansion of investments in and manufacturing of chips in the U.S. But Chinese companies have found ways to evade export controls in part because of a lack of China subject matter experts and Chinese speakers assigned to Commerce's export control enforcement. The agency's current budget limits the number of international end-use checks, or physical verification overseas of distributors or companies receiving American-made chips that are the supposed end users of products. Currently, Commerce has only 11 export control officers spread around the globe to conduct such checks. The committee made several recommendations in its report, including Congress allocating more money for hiring additional personnel to enforce export controls, imposing larger fines on companies that violate controls and requiring periodic reviews of advanced chip companies’ export control plans by outside entities. ___ Boak reported from West Palm Beach, Florida.The Senate on Wednesday passed an $895.2 billion defense policy bill that sparked controversy when House Speaker Mike Johnson amended the legislation with language forbidding the use of federal funds to cover specialized medical care for the transgender children of U.S. military personnel . The annual National Defense Authorization Act was approved by a vote of 85-14, with several Democrats opposing. It will now go to the president, who is expected to sign it into law. Over the objections of most House Democrats and some Republicans, Johnson, R-La., upended what historically is an overwhelmingly bipartisan vote to approve the NDAA. The House passed the bill 281-140 last week, with fewer than half of the chamber’s Democrats voting in favor of it. Many — including some who played key roles drafting the sprawling national security package — expressed bitterness that months of good-faith negotiation between members of both political parties from the House and Senate had been tainted. The anger this week spilled over into the Senate, where Sen. Tammy Baldwin, D-Wis., led 20 other senators in a largely symbolic effort to strike Johnson’s provision from the legislation. On Tuesday, she said she was so appalled by its inclusion that she would vote against the NDAA for the first time in her Senate career — “a position I do not take lightly,” she added. “It’s flat-out wrong,” Baldwin said on the Senate floor, blasting a policy that “guts our service members’ rights” simply “to score cheap political points.” If not for that provision, Baldwin said, “I would have been proud to support it.” The NDAA sets Pentagon and U.S. national security policy for the year ahead. Republicans and Democrats alike have lauded the bill’s 14.5% pay increase for junior enlisted troops, along with its authorization for spending increases on military “quality of life” issues. The bill also strengthens U.S. defenses against China while expanding investment in new military technologies and replenishing U.S. weapons stockpiles, they said. Several senior Democratic senators said that while they shared their colleagues’ frustration with the transgender care provision, the NDAA was too important to fail. “The NDAA is not perfect, but it still makes several important advances Democrats fought for,” Senate Majority Leader Chuck Schumer, D-N.Y., said Wednesday on the Senate floor, praising the bill’s “strong stand” against China and its authorized investment in artificial intelligence. Sen. Jack Reed, D-R.I., who chairs the Senate Armed Services Committee, said Wednesday ahead of the vote that he shares his “colleagues’ frustration” and that he voted against Johnson’s “frankly misguided provision” during the negotiation process. Reed earlier this week told reporters that Democrats had also been “successful in stripping out the vast majority of very far-right provisions that had passed in the House bill” and stressed the bill’s larger mission to provide the resources the military needs to successfully defend America. “We have a duty to support our servicemen and women ... and we believe this bill, by and large, accomplishes that,” he said. Sen. Mark Warner, D-Va., who chairs the Senate Intelligence Committee, said he worried Johnson’s provision could set a dangerous precedent for the inclusion of other “social policy riders” in future NDAAs, which in turn could threaten the annual policy bill’s decadeslong record of consistent passage. “But at the end of the day, I’m not going to sink the whole defense and intel bill,” he said in an interview. Johnson’s provision states that “medical interventions for the treatment of gender dysphoria” — a medical diagnosis for those whose gender identity is different from their biological sex at birth — “that could result in sterilization may not be provided to a child under the age of 18,” something medical professionals say does not happen in most cases. Republican supporters of the move — many of whom, like Johnson, have sought to limit transgender rights and treatments more broadly — portrayed the provision as protecting children from the potentially permanent consequences of medical treatments administered to them as minors. On the other side of the aisle, Democrats framed it as an act born of bigotry and ignorance that would deny potentially lifesaving treatments to adolescents struggling with gender dysphoria — a population that has a high prevalence of suicide. It is unclear how many children would be affected by the provision. The House Armed Services Committee’s Democratic staff said the Pentagon told them it would impact thousands of families. In 2017, there were 2,500 minors receiving such health care through the military’s TRICARE health system, according to a report circulated by the American Civil Liberties Union. The Williams Institute, a UCLA-based think tank that researches gender identity and sexual orientation laws, says that nationwide, there are about 300,000 youth, aged 13 to 18, who identify as transgender, and that 0.6% of the total U.S. population identifies as transgender. House Armed Services Committee Chairman Mike Rogers, R-Ala., told reporters last week that Johnson’s provision was unnecessary because President-elect Donald Trump is likely to enact the same policy — with or without Congress — once he takes office next month. Senior lawmakers from both parties have sought to highlight what the NDAA does accomplish. For instance, the bill authorizes a significant pay increase for junior enlisted U.S. service members, whose lagging salaries have forced many military families to resort to food stamps and other forms of public assistance — circumstances that have shocked members of both parties in hearings held over the past two years. It also authorizes roughly $3 billion to improve military housing, including the replacement of dilapidated and crumbling barracks. And it will expand child care and other benefits to a military that lawmakers say has failed to offer competitive career options amid a worsening recruitment crisis. The bill authorizes the expansion of U.S. military resources to assist with migrant interdiction on the border with Mexico and expands U.S. assistance to Israel — core Republican priorities. It does not authorize additional military assistance for Ukraine, an issue where most Republicans now echo Trump’s skepticism about continuing to aid Kyiv’s efforts to repel Russia’s full-scale invasion. Instead, it requires the administration to provide Congress with an assessment of the “likely course of war in Ukraine,” including whether its military will be able to “to defend against Russian aggression” if the United States stops providing support. The bill also does not include an additional $25 billion to its top line. That additional funding for missile defense, shipbuilding and counter-drone technology was approved over the summer by the Senate Armed Services Committee — at the urging of its top Republican, Sen. Roger Wicker of Mississippi — but was abandoned in the final bill negotiated between the House and Senate. Wicker on Wednesday called the NDAA “a good bill” but scolded Congress for having “missed the opportunity to strengthen” Trump’s hand as he takes office next month and confronts what Wicker described as “the most dangerous national security moment since World War II.” Senate Minority Leader Mitch McConnell, R-Ky., this week also derided the NDAA as a “compromised product” for its failure to include those additional funds. “The absence of the Senate-backed increase to top-line investments will go down as a tremendous, tremendous missed opportunity,” McConnell said on the Senate floor Monday. “Artificial budget restraints mean that major bill provisions, like a pay raise for enlisted service members, will come at the expense of investments in the critical weapon systems and munitions that deter conflict and keeps them safe.” Washington Post writer Mariana Alfaro contributed to this report. We invite you to add your comments. 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Timberwolves didn’t turn to small ball to close last game, and those lineups don’t seem to be on the horizonUndercover FBI agents were not present during the 2021 attack on the US Capitol by Donald Trump supporters, a Justice Department watchdog said Thursday in a report debunking a popular right-wing conspiracy theory. "We found no evidence in the materials we reviewed or the testimony we received showing or suggesting that the FBI had undercover employees in the various protest crowds, or at the Capitol, on January 6," Justice Department inspector general Michael Horowitz said in an 88-page report. Thousands of Trump supporters stormed the US Capitol on January 6 in a bid to prevent congressional certification of Democrat Joe Biden's election victory. Right-wing media and even some Republican lawmakers have spuriously claimed that undercover FBI agents provoked the attack on Congress, which followed a fiery speech by Trump in which he falsely claimed the election had been stolen. The inspector general said that while no undercover FBI agents were present at the Trump rally or the Capitol, 26 FBI informants known as confidential human sources (CHS) were in Washington at the time. Three of the informants had been tasked with reporting on domestic terrorist suspects while the others were there on their own. "None of these FBI CHSs were authorized to enter the Capitol or a restricted area, or to otherwise break the law on January 6, nor was any CHS directed by the FBI to encourage others to commit illegal acts on January 6," the report said. The inspector general also said there had been an intelligence-gathering failure by the FBI ahead of the January 6 attack. "While the FBI undertook significant efforts to identify domestic terrorism subjects who planned to travel to the Capital region on January 6," the report said, "the FBI did not take a step that could have helped the FBI and its law enforcement partners with their preparations. "Specifically, the FBI did not canvass its field offices in advance of January 6, 2021, to identify any intelligence, including CHS reporting, about potential threats to the January 6 Electoral Certification," it said. FBI deputy director Paul Abbate was quoted as saying this was a "basic step that was missed" in "understanding the threat picture prior to January 6." Trump was impeached by the Democratic-majority House of Representatives following the attack on the Capitol, but acquitted by the Senate. He is to return to the White House on January 20 after defeating Vice President Kamala Harris in the November presidential election. More than 1,500 people have been charged in connection with the assault on Congress. Trump has lauded them as "patriots" and "political prisoners" and pledged to pardon many of them when he returns to the White House. cl/st
LAS VEGAS (Dec. 12, 2024) – The Venetian Resort is sharing the success of the Resort’s performance in 2024 with all its Team Members through the Venetian Appreciation Award, a unique employee recognition program that continues to demonstrate the Resort’s commitment to its Team Members and overall organizational success. After a third record breaking year, The Venetian Resort will distribute $1,250 pre-taxed dollars, to all full-time flex Team Members. Part-time and on-call will also receive an award prorate based on hours worked in the past year. This distribution marks a milestone achievement, bringing the cumulative program payout to $3,500 per full-time flex Team Member since the program’s inception in 2022. “We are thrilled that we have been able to provide a distribution to our Team Members annually since 2022 based upon the resorts financial and service performance goals. We know it helps bring joy to the holiday season and is a reflection of the contributions of our Team Members throughout the year. The program is designed so that all Team Members understand and benefit from the impact of their contribution to this amazing resort. This helps contribute to the sense of pride and service we deliver every day,” said Patrick Nichols, president and chief executive offer of The Venetian Resort. The program, pioneered by The Venetian Resort with the support of Apollo Funds, aims to align Team Members with the Resort’s strategic objectives, creating a motivating culture of ownership and shared success. This initiative also is consistent with the Apollo Empower program mission to provide pathways to long-term financial security to workers across Apollo fund investments. The Venetian Resort is preparing for an exciting year ahead in 2025, with ambitious plans that include world-class restaurant openings, continuation of its suite renovations and a comprehensive convention center refresh. These initiatives are part of a broader $1.5 billion reinvestment, with a continued emphasis on valuing its most critical asset, its Team Members. The Venetian Resort continues to be a leading Las Vegas destination, committed to providing exceptional guest experiences and creating a supportive, innovative work environment. The Venetian Appreciation Award distribution represents more than just a financial reward, it is a testament to the Resort’s strong belief in recognizing and empowering its Team Members. ### Media Contact The Venetian Resort Las Vegas Kirvin Doak Communications TheVenetian@kirvindoak.com About The Venetian Resort Las Vegas The Venetian Resort Las Vegas features all-suite accommodations across The Venetian and The Palazzo. The iconic resort’s experience is marked by a commitment to sophisticated play and light-hearted luxury, with world-class restaurants from celebrated chefs including Cote by Simon Kim, Bazaar Meat by José Andrés, and Southern California favorite Gjelina; the rejuvenating Canyon Ranch spa + fitness; a five-acre pool and garden deck inspired by the Italian Riviera including TAO Beach Dayclub, a Balinese-inspired tropical oasis; two landmark casinos and a poker room; Voltaire, a destination nightlife venue that blurs the lines between and intimate club and is home to the Queen of burlesque, Dita Von Teese; concert and non-stop entertainment including master illusionist Shin Lim; TAO Nightclub, and unparalleled retail experiences at Grand Canal Shoppes. A premier events and conference center, the resort is home to more than 2.25 million square feet of meeting, exposition, and convention space. The Venetian Resort’s brand-new loyalty program, Venetian Rewards, offers resort-wide earning and redemption for gaming play, including slots and tables, as well as experiential spend, such as dining, entertainment, hotel reservations, and more. The Venetian Resort Las Vegas is the only place fans can get the full experience of Sphere at The Venetian with concert and hotel packages including preferred seating. Sphere is a next-generation venue that will redefine the future of live entertainment. The Venetian® and other trademarks are used under license. The names and brands mentioned above are trademarks and/or registered trademarks of their respective owners. Related
December 18, 2024 This article has been reviewed according to Science X's editorial process and policies . Editors have highlightedthe following attributes while ensuring the content's credibility: fact-checked preprint trusted source proofread by Alex Shipps, Massachusetts Institute of Technology Try taking a picture of each of North America's roughly 11,000 tree species, and you'll have a mere fraction of the millions of photos within nature image datasets. These massive collections of snapshots—ranging from butterflies to humpback whales—are a great research tool for ecologists because they provide evidence of organisms' unique behaviors, rare conditions, migration patterns, and responses to pollution and other forms of climate change. While comprehensive, nature image datasets aren't yet as useful as they could be. It's time-consuming to search these databases and retrieve the images most relevant to your hypothesis. You'd be better off with an automated research assistant—or perhaps AI systems called multimodal vision language models (VLMs). They're trained on both text and images, making it easier for them to pinpoint finer details, like the specific trees in the background of a photo. But just how well can VLMs assist nature researchers with image retrieval? A team from MIT's Computer Science and Artificial Intelligence Laboratory (CSAIL), University College London, iNaturalist, University of Edinburgh, and UMass Amherst designed a performance test to find out. Each VLM's task: Locate and reorganize the most relevant results within the team's "INQUIRE" dataset, composed of 5 million wildlife pictures and 250 search prompts from ecologists and other biodiversity experts. In these evaluations, the researchers found that larger, more advanced VLMs, which are trained on far more data, can sometimes get researchers the results they want to see. The models performed reasonably well on straightforward queries about visual content, like identifying debris on a reef, but struggled significantly with queries requiring expert knowledge, like identifying specific biological conditions or behaviors. For example, VLMs somewhat easily uncovered examples of jellyfish on the beach, but struggled with more technical prompts like "axanthism in a green frog," a condition that limits their ability to make their skin yellow. Their findings, in an article now posted to the arXiv preprint server, indicate that the models need much more domain-specific training data to process difficult queries. MIT CSAIL Ph.D. student Edward Vendrow, who co-led work on the dataset, believes that by familiarizing with more informative data, the VLMs could one day be great research assistants. "We want to build retrieval systems that find the exact results scientists seek when monitoring biodiversity and analyzing climate change," says Vendrow. "Multimodal models don't quite understand more complex scientific language yet, but we believe that INQUIRE will be an important benchmark for tracking how they improve in comprehending scientific terminology and ultimately helping researchers automatically find the exact images they need." The team's experiments illustrated that larger models tended to be more effective for both simpler and more intricate searches due to their expansive training data. They first used the INQUIRE dataset to test if VLMs could narrow a pool of 5 million images to the top 100 most relevant results (also known as "ranking"). For straightforward search queries like "a reef with manmade structures and debris," relatively large models like "SigLIP" found matching images, while smaller-sized CLIP models struggled. According to Vendrow, larger VLMs are "only starting to be useful" at ranking tougher queries. Vendrow and his colleagues also evaluated how well multimodal models could rerank those 100 results, reorganizing which images were most pertinent to a search. In these tests, even huge LLMs trained on more curated data like GPT-4o struggled: Its precision score was only 59.6%, the highest score achieved by any model. The researchers will present these results at the Conference on Neural Information Processing Systems ( NeurIPS 2024 ) in December. Discover the latest in science, tech, and space with over 100,000 subscribers who rely on Phys.org for daily insights. Sign up for our free newsletter and get updates on breakthroughs, innovations, and research that matter— daily or weekly . Inquiring for INQUIRE The INQUIRE dataset includes search queries based on discussions with ecologists, biologists, oceanographers, and other experts about the types of images they'd look for, including animals' unique physical conditions and behaviors. A team of annotators then spent 180 hours searching the iNaturalist dataset with these prompts, carefully combing through roughly 200,000 results to label 33,000 matches that fit the prompts. For instance, the annotators used queries like "a hermit crab using plastic waste as its shell" and "a California condor tagged with a green '26'" to identify the subsets of the larger image dataset that depict these specific, rare events. Then, the researchers used the same search queries to see how well VLMs could retrieve iNaturalist images. The annotators' labels revealed when the models struggled to understand scientists' keywords, as their results included images previously tagged as irrelevant to the search. For example, VLMs' results for "redwood trees with fire scars" sometimes included images of trees without any markings. "This is a careful curation of data, with a focus on capturing real examples of scientific inquiries across research areas in ecology and environmental science," says Sara Beery, MIT Homer A. Burnell Career Development Assistant Professor, CSAIL principal investigator, and co-senior author. "It's proved vital to expanding our understanding of the current capabilities of VLMs in these potentially impactful scientific settings. It has also outlined gaps in current research that we can now work to address, particularly for complex compositional queries, technical terminology, and the fine-grained, subtle differences that delineate categories of interest for our collaborators." "Our findings imply that some vision models are already precise enough to aid wildlife scientists with retrieving some images, but many tasks are still too difficult for even the largest, best-performing models," says Vendrow. "Although INQUIRE is focused on ecology and biodiversity monitoring, the wide variety of its queries means that VLMs that perform well on INQUIRE are likely to excel at analyzing large image collections in other observation-intensive fields." Taking their project further, the researchers are working with iNaturalist to develop a query system to better help scientists and other curious minds find the images they actually want to see. Their working demo allows users to filter searches by species, enabling quicker discovery of relevant results like, say, the diverse eye colors of cats. Vendrow and co-lead author Omiros Pantazis, who recently received his Ph.D. from University College London, also aim to improve the reranking system by augmenting current models to provide better results. University of Pittsburgh Associate Professor Justin Kitzes highlights INQUIRE's ability to uncover secondary data. "Biodiversity data sets are rapidly becoming too large for any individual scientist to review," says Kitzes, who wasn't involved in the research. "This paper draws attention to a difficult and unsolved problem, which is how to effectively search through such data with questions that go beyond simply 'who is here' to ask instead about individual characteristics, behavior, and species interactions. "Being able to efficiently and accurately uncover these more complex phenomena in biodiversity image data will be critical to fundamental science and real-world impacts in ecology and conservation." Serge Belongie, Pioneer Center for Artificial Intelligence Director and University of Copenhagen professor, notes that INQUIRE reveals the current limits of multimodal models in understanding scientists' search queries. "This work is both a huge step forward in our understanding of multimodal models for scientific inquiry, and a sobering, inspiring reminder of just how difficult the text-to-image retrieval task remains when the details matter," says Belongie, who wasn't involved in the paper. More information: Edward Vendrow et al, INQUIRE: A Natural World Text-to-Image Retrieval Benchmark, arXiv (2024). DOI: 10.48550/arxiv.2411.02537 Journal information: arXiv Provided by Massachusetts Institute of TechnologyTrump invited China's Xi to his inauguration even as he threatened massive tariffs on BeijingYYAI stock touches 52-week low at $2.51 amid market challengesOSAKA, Japan & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec 12, 2024-- Takeda ( TSE:4502/NYSE:TAK ) will host an investor R&D Day today beginning at 8:30 a.m. JST in Tokyo. The meeting will focus on programs in the company’s late-stage pipeline, the transformative value they could deliver to patients, and the market opportunities they represent. “We are focused on advancing our innovative pipeline and accelerating late-stage programs to deliver sustainable revenue growth to 2030 and beyond, building upon the strong momentum of our Growth and Launch Products,” said Christophe Weber, Takeda chief executive officer. “The first three Phase 3 programs will read out in 2025, initiating a cadence of potential filings across multiple indications over the next several years.” Eight Regulatory Filings in FY2025 – FY2029 The late-stage pipeline includes oveporexton (TAK-861), zasocitinib (TAK-279), rusfertide (TAK-121), mezagitamab (TAK-079), fazirsiran (TAK-999) and elritercept (TAK-226). Combined these programs have potential peak revenue 1 of $10B - $20B. Data from three Phase 3 programs is expected to read out in 2025: Filings for these three indications are expected in fiscal years 2025 and 2026. Five additional indication filings for late-stage programs are on pace for fiscal years 2027 through 2029: “Takeda has established an exciting, late-stage pipeline of transformative therapies that we believe will deliver value to our company and, most importantly, to the patients we serve around the world,” said Andy Plump, president of R&D at Takeda. “As we continue scaling our capabilities and maximizing R&D investment to deliver the late-stage pipeline, we are also progressing an exciting early-stage pipeline, supporting a cutting-edge research organization, and focusing on creative business development across our therapeutic areas to sustain Takeda’s future and continue to meet significant unmet patient needs.” 2024 R&D Day Agenda The meeting includes the following presentations and speakers: A Global, Innovation-Driven Biopharmaceutical Company Christophe Weber, President & CEO R&D Strategy and Pipeline Highlights Andy Plump, President, Research and Development Neuroscience: Deep-Dive on Orexin Franchise Sarah Sheikh, Head of Neuroscience Therapeutic Area Unit and Head of Global Development Ramona Sequeira, President of Global Portfolio Division Gastrointestinal and Inflammation: Deep-Dive on Zasocitinib, Rusfertide, Mezagitamab, Fazirsiran Chinwe Ukomadu, Head of Gastrointestinal and Inflammation Therapeutic Area Unit Ramona Sequeira, President of Global Portfolio Division Oncology: Deep-Dive on Elritercept – Newly Announced Business Development Deal Teresa Bitetti, President Global Oncology Business Unit P.K. Morrow, Head of Oncology Therapeutic Area Unit Webcast Details A live webcast of the meeting begins at 8:30 a.m. JST December 13 (6:30 p.m. EST December 12). Presentations are available on the Investor Relations section of Takeda’s website where a video replay will be available following the meeting. About Takeda Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com . Important Notice For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws. The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. Forward-Looking Statements This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at www.sec.gov . Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results. Peak Sales and PTRS Estimates References in this press release to peak revenue potential ranges are estimates that have not been adjusted for probability of technical and regulatory success (PTRS) and should not be considered a forecast or target. These peak revenue potential ranges represent Takeda’s assessments of various possible future commercial scenarios that may or may not occur. References in this press release to PTRS are to internal estimates of Takeda regarding the likelihood of obtaining regulatory approval for a particular product in a particular indication. These estimates reflect the subjective judgment of responsible Takeda personnel and have been approved by Takeda’s Portfolio Review Committee for use in internal planning. Medical Information This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development. Elritercept license agreement Elritercept is included for reference only. Takeda entered into an exclusive license agreement with Keros for global rights, in all territories outside of mainland China, Hong Kong and Macau, to Elritercept. The closing of the transaction is subject to receipt of regulatory approval(s), expected in the first calendar quarter of 2025. Takeda does not currently have rights to Elritercept. ___________________________ 1 References in this presentation to peak revenue potential are estimates that have not been adjusted for probability of technical and regulatory success (PTRS) and should not be considered a forecast or target. These peak revenue ranges represent Takeda’s assessments of various possible future commercial scenarios that may or may not occur. View source version on businesswire.com : https://www.businesswire.com/news/home/20241211148492/en/ CONTACT: Investor Relations Christopher O’Reilly Christopher.oreilly@takeda.com +81 (0) 90-6481-3412 Takeda Media Relations media_relations@takeda.com KEYWORD: MASSACHUSETTS UNITED STATES JAPAN NORTH AMERICA ASIA PACIFIC INDUSTRY KEYWORD: ONCOLOGY HEALTH NEUROLOGY CLINICAL TRIALS PHARMACEUTICAL BIOTECHNOLOGY SOURCE: Takeda Pharmaceutical Company Limited Copyright Business Wire 2024. PUB: 12/12/2024 05:30 PM/DISC: 12/12/2024 05:30 PM http://www.businesswire.com/news/home/20241211148492/en
This is where the data to build AI comes fromDiamcor and Tiffany & Co. Canada Sign Agreement to Amend Outstanding Loans
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