Sanofi suspends recruitment for clinical trials testing hydroxychloroquine

spike

A box of Plaquenil, an anti-malaria drug hydroxychloroquine made by Sanofi, used for years to treat malaria and autoimmune disorders.

Alain Pitton | NurPhoto | Getty Images

French drugmaker Sanofi said Friday it is suspending recruitment of new patients for its clinical trials looking at anti-malaria drug hydroxychloroquine as a potential treatment for the coronavirus.

The company is also putting a hold on supplying the drug for off-label use to treat Covid-19 until safety concerns are cleared by the World Health Organization.

“Patient safety is Sanofi’s primary focus,” a Sanofi spokesperson said in a statement to CNBC. “In line with

Read More

Beyond Meat results beat, suspends 2020 forecast on COVID-19 concerns

spike

(Reuters) – Beyond Meat Inc reported better-than-expected quarterly results on Tuesday as it sold more of its plant-based meat products and cut costs on packaging and labor, sending its shares up 3% after the bell.

FILE PHOTO: The company logo and trading information for Beyond Meat is displayed on a screen during the IPO at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid

However, the vegetarian burger maker suspended its 2020 forecast as the COVID-19 pandemic hit demand for the company’s plant-based meat products at restaurants.

Closure of dine-in areas and restrictions on movement have

Read More

Harley-Davidson cuts dividend payout, suspends share buybacks

spike

(Reuters) – Harley-Davidson Inc (HOG.N) cut its quarterly dividend to just 2 cents and suspended share buybacks on Tuesday to boost its cash reserves even as it reported a smaller-than-expected decline in quarterly profit.

FILE PHOTO: The logo of U.S. motorcycle company Harley-Davidson is seen on one of their models at a shop in Paris, France, August 16, 2018. REUTERS/Philippe Wojazer

The company said it has $1.47 billion in cash and was in talks with big U.S. banks to get an additional $1.30 billion in loan to deal with the drop in motorcycle sales due to lockdowns. Harley

Read More

General Motors suspends dividend to preserve cash as outbreak disrupts production

spike

General Motors said Monday it is suspending its quarterly dividend and stock buybacks to preserve cash as the coronavirus pandemic has left factories and auto dealerships at least partially closed across the U.S.

In addition to cutting the annual dividend, which paid $1.52 a share, GM has “taken other significant austerity measures to preserve near-term available cash,” the company said in a statement. The automaker also extended a $3.6 billion, three-year revolving credit facility to April 2022 to help bolster its liquidity.

Shares of GM were down about 2% to $21.47 during premarket trading Monday. The stock is down 40%

Read More