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EU Sets 350,000 Annual Import Limit on Chinese Hybrid Vehicles

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) The European Union will instill a 350,000-car limit per year for imports of Chinese hybrid vehicles, with the measure taking effect as soon as December 1, Alberto Nardelli and Jorge Valero of Bloomberg reports, citing a document outlining the plan seen by the journal. The cap will increase annually by 6% starting the second year of application. The cap will apply to all imports of hybrids. Publicly traded companies in the space include BYD (BYDDY), Geely (GELYF), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Toyota (TM) and Volkswagen (VWAGY). 2) Amazon (AMZN) is in discussions to acquire Decart, an AI startup, in a deal that may be valued around $7B, Kate Clark and Lauren Thomas of The Wall Street Journal reports, citing people familiar with the matter. A deal could come soon if talks don't fall apart or another suitor doesn't emerge, the sources added. 3) Pennsylvania Governor Josh Shapiro and Department of Community and Economic Development, DCED, Secretary Rick Siger announced the Commonwealth has secured an over $800M investment from global biopharma company GSK (GSK) to expand its operations in Montgomery County. The expansion will create more than 300 new jobs over the next five years, retain approximately 4,500 existing full-time jobs across the Commonwealth, and continue growing Pennsylvania's life sciences industry. GSK is expanding its facilities in Upper Merion Township, with construction planned to begin in 2027. 4) Nvidia (NVDA) is in discussions to either acquire or increase its investment in Reflection AI, a US start-up, George Hammond, Michael Acton, George Steer, and Arash Massoudi of The Financial Times reports, citing people with direct knowledge of the matter. Discussions are currently in the early stages, and a deal could take different forms, the sources added. 5) AstraZeneca (AZN) announced results from the HICKORY Phase III trial showed that efzimfotase alfa, ALXN1850, did not achieve statistical significance but demonstrated a numerical improvement in the primary endpoint of Six-Minute Walk Test in adolescents and adults with hypophosphatasia, HPP, who had not been previously treated with Strensiq at week 25, compared to placebo. In the overall population, at week 25, efzimfotase alfa achieved a least squares mean difference of 17.05 metres change from baseline in the primary endpoint of 6MWT, compared to placebo.

GSK Secures Over $800M Investment to Expand in Pennsylvania

Pennsylvania Governor Josh Shapiro and Department of Community and Economic Development, DCED, Secretary Rick Siger announced the Commonwealth has secured an over $800M investment from global biopharma company GSK to expand its operations in Montgomery County. The expansion will create more than 300 new jobs over the next five years, retain approximately 4,500 existing full-time jobs across the Commonwealth, and continue growing Pennsylvania's life sciences industry. GSK is expanding its facilities in Upper Merion Township, with construction planned to begin in 2027.

ViiV Healthcare CROWN Study Meets Primary Endpoint

ViiV Healthcare, the global specialist HIV company majority owned by GSK, with Shionogi as a shareholder, announced the phase IIIb CROWN study met its primary endpoint, demonstrating that at six months, long-acting Cabenuva achieved superior rates of viral suppression compared with standard-of-care oral antiretroviral therapy, ART, in adults and adolescents living with HIV-1 who had detectable virus when they entered the study. Findings build on the LATITUDE study, which demonstrated that CAB + RPV LA was superior to daily oral therapy in maintaining viral suppression among people with HIV who had achieved viral suppression on oral ART but had a history of adherence challenges. CROWN addresses a remaining evidence gap by evaluating direct initiation of the regimen in people who still had detectable virus at study entry and had no evidence of resistance to INSTIs or NNRTIs.