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Daily Archives: June 29, 2022
Israeli tech is taking a different stance on the War on Drugs – Geektime
Posted: June 29, 2022 at 12:56 am
For millennia, drugs such as marijuana, magic mushrooms, MDMA, and more, have been used recreationally throughout the world, with many different benefits. But since former President Ronald Reagan's War on Drugs, the world of narcotics and other recreational substances has not only been illegal but has also had negative connotations. Unfortunately, this meant that such substances were not being used even in the beneficial ways they could have been. There are many potential outcomes and uses that such substances could have for the better, like treating anxiety and post-traumatic stress disorder (PTSD), but because of their legality, scientific research in that field was nearly nonexistent until recently. There has been a rise in the understanding that such drugs don't only cause harm and addiction, as has been portrayed to us by our governments for many years, but rather that they have the potential to alleviate pains and cure people from various diseases and illnesses when used correctly. Many Israeli startups are acting fast on these studies, looking to become the first of their kind to invent breakthrough treatments for patients with various conditions, using safe combinations of illegal substances. Here are just a few:
The female reproductive system is quite complex, and many women suffer from various gynecological diseases and hardships, such as endometriosis, PMS, dysmenorrhoea, menopause, and more. Gynica is an Israeli startup that develops medical treatments using cannabis to target these female gynecological problems. For example, endometriosis is a chronic condition causing severe pain and discomfort as the endometrial tissue grows outside of the uterus in the abdominal cavity or internal organs during the menstrual cycle. This causes inflammation and many more issues other than just pain and discomfort such as bowel and urinary disorders, dyspareunia (painful sex), and neuropathy. Endometriosis is the leading cause of infertility and early hysterectomies and affects around 200 million women worldwide. There is currently no known cause of endometriosis as well as no known cure. The current treatments are anti-inflammatory drugs, surgeries, and hormones which often cause a decrease in quality of life. Deriving active and distinct ingredients from the cannabis plant, Gynica looks to treat endometriosis without the adverse side effects the anti-inflammatory drugs have using one of two products: a vaginal suppository or a lubricant gel. These products are a promising solution for women hoping to ease their symptoms; it is the cannabis plant, that has been frowned upon for so many years, that will bring these women comfort.
Gynica was founded in 2017 by Yotam Hod (CEO) and Dor Hershovitz. With a total of ten employees, the rest of their team consists of Dr. Sari Prutchi Sagiv (VP R&D), Haim Barsimantov (CTO), Lenore Shoham (Managing Director), and Meredith Rose Burak (Director of Global Relations). Gynica is based in Jerusalem and has raised over $5.5 million to date through Tikun Olam Pharmaceuticals. Partnering with Asana Bio Group, who also own Lumir Lab, Gynica has currently completed the worlds first preclinical trial to identify the most effective cannabidiol to treat endometriosis patients. Their vaginal products are planned to be brought to market in the next year with the approval of the Israeli Ministry of Health.
Watching your loved one quickly slip away from the person they once were all because of a debilitating disease such as Alzheimers or dementia; the onset of such illnesses makes both patients and their loved ones feel helpless, especially because there are no known cures. Dementia and Alzheimer's are damaging, chronic, and life-altering brain diseases that impair the ability to remember, think or make day-to-day life decisions. Additionally, patients can have difficulty speaking, and a hard time expressing thoughts, reading, or writing, and they often find themselves wandering and getting lost even in a familiar neighbourhood. Ixtlan Bioscience is a biotech company focusing on developing psilocybin-based (a substance found in magic mushrooms) treatments which are administered in micro-doses aimed at remedial treatment of Alzheimers Disease. Their patent-pending Ixtlan AD Kit is meant for at-home use. Psilocybin agonists such as 5-HT2A enhance the power of gamma-frequency (an indicator in humans of a healthy brain and communication channel involving attention and memory), which emphasizes the role it can have in reducing focal Alzheimers and dementia. Psilocybin has also been shown to have anti-inflammatory properties. Ixtlan Bioscience intends for everyone to benefit from safe and accessible psilocybin medicine, hence their push for an at-home kit. The Ixtlan AD kit consists of micro-dosing of encapsulated 5HT2A receptors in 1/10th of a dose, explicit use protocol, games/exercises which are tailored for different levels of cognitive impairment, an application that monitors the patient, and a home test for detecting psilocybin metabolites concentrations. This also provides data on the individual and the effects the drug is having on their therapeutic power. The benefit of an at-home kit reduces the cost for the patient as they do not need a one-on-one setting with a therapist or doctor and don't have to waste time in a designed clinic. Because of the tiny dose (1/10th), the patient is not cognitively or physically impaired, so they can still carry out day-to-day tasks and resume normal daily activities. Ixtlan Bioscience hopes to provide a glimpse of hope for patients and their loved ones dealing with memory-altering diseases.
Ixtlan Bioscience was founded in 2020 by Yehonatan Cavens (CEO), Ana Parabucki, Ph.D. (Chief Scientist), and Itamar Borochov (COO). Other members of the team include Ori Liraz, Ph.D. (Scientific Advisory), and Christopher Freeman, MD (Scientific Advisory). Ixtlan Bioscience has conducted various clinical trials from pre-clinical, to phase 2 and has had many collaborations with major academic research institutions in Israel, the UK, Portugal, Spain, the U.S., Germany, and Australia.
The COVID-19 pandemic is still here, and some patients of it have been plagued with long-term symptoms relating to it. Though the virus affects the body in numerous ways, the lungs are the most affected organ; this can cause further lung complications such as pneumonia, acute respiratory distress syndrome, and more. As the viruss effect on the lungs is severe, it can often lead to lung infections that can cause problems to the central nervous system (the spinal cord and the brain). For example, abnormalities in ventilation and gas exchange can lead to lung infections such as hypercapnia/hypocapnia, hypoxia, and respiratory acidosis/alkalosis. These infections can lead to neurologic dysfunction that can sometimes be permanent and life changing. Innocan Pharma is an Israeli cannabis pharmaceutical company developing products of cannabinoids combined with smart delivery formulations. They provide data that meets global standards for safe cannabis-infused medication for patients suffering from illnesses negatively impacting their lungs. Innocan has partnered with Ramot, the team at Tel Aviv University led by Prof. Daniel Often, to create a revolutionary approach to treat COVID-19 by using Cannabidiol. The collaboration is set to produce CBD-Loaded Exosomes that will be administered by inhalation. These allow the potential to provide a highly synergistic effect to help the recovery of infected lung cells and reduce inflammation, since not only do exosomes contain anti-inflammatory agents, but they are also reported to repair tissue damage.
Innocan Pharma was founded in 2017 in Herzliya by Yoram Drucker (VP of Business Development) and Ron Mayron (Executive Chairman). To carry out the collaboration, Innocan Pharma has been granted $450,000 in funds. Innocan Pharma has also signed a worldwide exclusive licensing agreement with the Hebrew University of Jerusalem to develop a CBD drug administered by injection based on liposomes. The company has also investigated products infused with cannabis to treat psoriasis symptoms, muscle pain, and rheumatic pain. Currently, their muscle relief gel is available to the public, while all other products are in trial phases.
Mental health manifests in different variations be it anxiety, depression, PTSD, or others. Psilocybin mushrooms have been shown to have positive effects in treating mental health disorders if they are used in the right wayin small doses. PsyRx safely administers a combination of two drugspsilocybin and ibogaine to help manage the symptoms of different mental disorders. They believe psychedelics are a major part of the solution for mental health and seek to improve current antidepressant treatments through micro-dosing. By using the micro-dosing method, the mushrooms do not cause a psychedelic episode, and patients can resume day-to-day tasks normally. Psilocybin is sourced from magic mushrooms and is shown to have a positive effect in treating depression, anxiety, addiction, and even PTSD. It is one of the two most used drugs in micro-dosing as small doses do not present any visual/perceptual changes. Moreover, ibogaine is the key psychoactive component of the Iboga plant. It is an anti-addiction drug and the main alkaloid of tabernanthe iboga, a shrub native to Central West Africa. While high doses include trance-like states (hallucinations, altered perception of time), low doses suppress appetites and increase feelings of euphoria. By combining the two drugs, PsyRx hopes to treat patients suffering from mental illnesses quickly and effectively within a day or two, rather than most drugs which take at least several weeks to kick in.
PsyRx was founded in 2019 by Itay Hecht (CEO), Kobi Buxdorf, PhD (CTO), and Asher Holzer, PhD (President). The rest of the team includes Noam Barnea-Ygael, Ph.D. (Research Officer), Jonathan Baram, Ph.D. (Lead Chemist), and Noam Permont (VP of Business Development, PR, and IR). PsyRx is currently going through trials at the Hebrew University of Jerusalem (HUJI). PsyRx, which is located in Tel Aviv, has seven team members and ten employees.
Continuing the conversation on mental health, anxiety is one of the leading mental illnesses today, affecting over 275 million people worldwide. Anxiety for some comes in a form of heightened nervousness for short periods, which is relieved with time while for other patients it is not that simple. Often, anxiety leads to the feeling of being trapped in a whirlwind of fear and panic which causes a rapid heartbeat that for some, cannot be controlled. These episodes can be brought on spontaneously with no known reason and can last for minutes or even hours. Cannabis has been linked with positive effects on anxiety, movement disorders, and pain, and that is where StickIt Labs comes in. The Israeli startup has signed a cooperation agreement with Green Globes Hempacco to produce herb and hemp cigarettes or, cannabis sticks' ' which is a toothpick-like sticks of cannabis components that can be inserted easily into a cigarette. This ultimately aims to reduce anxiety, safely. The patented cannabis sticks contain CBD, but no THC which means that patients can use the sticks to relieve symptoms of their anxiety without feeling the effects of being high and thus do not impair their daily activities. StickIts sticks allow for accurately measured doses of cannabis in each stick, making them easier and safer to regulate.
StickIt Labs was founded in 2019 by Dr. Asher Holtzer (President). Eli Ben Arush serves as the CEO. StickIt Labs is a small business with only four employees, however, has received $750,000 in investment funds from GGII (Green Globe International). StickIt has recently launched on the Canadian Stock Exchange at a value of $50 million. They plan on expanding into different markets in America and Mexico.
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Israeli tech is taking a different stance on the War on Drugs - Geektime
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War on drugs: Poppy cultivation drops by 75% in Kashmir – The Kashmir Monitor – The Kashmir Monitor
Posted: at 12:56 am
Srinagar: War against drugs has entered a decisive phase after anti-narcotics agencies were able to reduce the poppy cultivation by over 75 percent in Kashmir.
For the last few years, the excise department has gone the whole hog against poppy cultivation. Poppy crop over thousands of kanals of land has been destroyed. Vulnerable areas were put under a scanner which has helped in curbing the menace.
Data accessed by The Kashmir Monitor reveal that the illegal cultivation of poppy has reduced from 2206 kanals in 2018 to mere 549 kanals in 2022.
As per the excise department, the poppy crops over 549 kanals of land have been successfully destroyed this year.
Illegal cultivation of poppy has been eliminated from Kupwara. However, Anantnag, Pulwama, Kulgam, and Shopian continue to have poppy fields. Nearly 430 kanals of land are under poppy cultivation.
In Anantnag, poppy cultivation over 206 kanals of land was destroyed. It was followed by Pulwama where crop spread over128 kanals of land was destroyed. Likewise, in Sjoppian, the crop spread over 40 kanals of land was destroyed. Poppy spread over 56 kanals of land was destroyed in Kulgam.
The excisedepartment destroyed the poppy cropover 21 kanals of land in Baramulla. In Bandipora, Srinagar, Budgam,and Ganderbal, the department destroyed poppy crops over 4,3,88 and 3 kanals, of land respectively.
Tahir Ajaz,Deputy Excise Commissioner (Executive) Kashmir told The Kashmir Monitor that the department is conducting a drive every year to eliminate the poppy cultivation in Kashmir.
The cultivation of poppy is banned in Jammu and Kashmir since 1959. Our employees destroy the crop in every district. We have entered a full elimination phase. We have succeeded in reducing the cultivation by 1/8thin the last few years, he said.
Ajaz said there was no more large-scale cultivation of poppy recorded in Kashmir now. Now, we are focusing on destroying the crop on small patches including lawns and kitchen gardens. Our employees survey a particular areaand accordingly destruction activity begins, he said.
Pertinently, the administration this year involved PRIs, village heads, and chowkidars in every tehsil to curb the menace of poppy cultivation. Religious scholars too were roped in to create awareness about the poppy in Kashmir.
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War on drugs: Poppy cultivation drops by 75% in Kashmir - The Kashmir Monitor - The Kashmir Monitor
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Germinston centre on war with drugs – Germiston City News
Posted: at 12:56 am
The war on drugs is an everyday battle for those who are directly affected by it.
ALSO READ: Former addict commits to war against drugs
This war propelled a mother Lucille Pienaar to open a recovery centre where families and recovering addicts can receive support and care.
Germiston City Recovery and Care Centre was officially opened in April.
The centre offers stay-in facilities, support, treatment, and specialised aftercare.
Centre manager Elna Latchman says the objective is to address the need in the Ekurhuleni area, which is infested with drug and substance abuse.
There was a dire need for a rehabilitation centre, said Latchman.
The community has been very responsive and supportive of the centre. Many send their loved ones to the centre for help. We reached out to the schools in the area to offer our assistance and support, said Latchman.
ALSO READ: Hawks nab man in possession of drugs worth R600k
The centre offers an accredited programme that includes the 12-Step programme.
Medical assistance and guidance are also part of the package.
They have a full-time doctor, nurse, psychologist and counsellors on standby to assist.
Latchman said the rehabilitation of drug and substance abuse is costly, hence some people dont get the chance to get clean.
The effects of Covid have not made it easy for families to get help for their loved ones because of loss of employment.
Drug addiction affects the family, community and society emotionally, financially and physically, said Latchman.
The addict must have the desire to get clean. The family must be prepared to assist or support the addict through the process of recovery. Dealing with the recovery of an addict has to be done holistically, said Latchman.
ALSO READ: Ekurhuleni committee commits to combat drug abuse
She said that sometimes families get left behind during recovery and when an addict is discharged, they are not sure how to offer support.
Our support groups help the family and friends to understand that they too need help in coping with the emotional journey of living with an addict, said Latchman.
She said they opened their doors because they have seen the demand and need from the Germiston community for help.
The centre established the Real Campaign to raise funds for rehabilitation.
Those who need assistance can contact Elna Latchman at 072 935 0320 or 011 826 6026.
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How harm reduction captured the US – UnHerd
Posted: at 12:56 am
It seems that every large city in America has marked off a neighbourhood where drug addicts are free to die in the streets. San Franciscos Tenderloin district, downtown Portland, Skid Row in Los Angeles, Hunts Point in New York, Kensington in Philadelphia: These are places where, by unspoken agreement between society and its outcasts, the normal rules cease to apply and the bodies are collected.
Where its warm enough, people sleep in tents or on the streets. Drugs and sex are openly sold and laws are enforced erratically. The result, which I observed during a 2019 trip toSkid Row, was a hellish concentration of deprivation and disorder, interspersed with a concentrated complex of non-profit and social service organisations.
What was already hellish was made even worse in recent years by the rapid spread of fentanyl, a synthetic opioid some 50 times more potent than heroin. Driven largely by fentanyl, which is now used to cut virtually every other drug, overdoses set a new record in the US in 2021, killing nearly 108,000 people. Up roughly 15% over 2020s record death toll, overdoses killed more people last year than guns and cars combined. In San Francisco, an average of 53 people died every month from overdoses last year, many of them outdoors and on sidewalks in front of buildings.
Before the fentanyl spike, overdoses had been rising in the US for the past two decades while raising little public alarm. But now, with the scale of deaths being declared an emergency and health epidemic, public officials are embracing supposedly radical new solutions to the problem, the most popular of which is harm reduction.
Harm reduction promises reasonableness. Rather than trying to eradicate drug use, the public-health framework, which has been embraced by the White House and cities across America, works to reduce risks by prioritising the safety of individuals over curing social ills. The point is to meet people where they are, according to advocates, not to change them. Its appeal is that it is humane and takes the opposite approach of the failed war on drugs. But thats only part of the story.
Look through the harm-reduction telescope and you glimpse the grand project of the therapeutic society that animates modern progressivism. At one end the individual is seen in minimalist terms, powerless to control their own desires, a victim of systemic forces far beyond their ability to resist. Look through the other end, and you find a maximalist view of the state in which a vast apparatus of administrators surveil and treat citizen-patients based on vague definitions of wellness and harm.
Look back in time, and the rise of harm reduction from the work of devoted activists to the official policy of the federal government traces a larger transformation in American politics. It is a project, in short, of the same political forces who want to defund the police, while empowering a surveillance and enforcement regime that punishes people for making sexist Facebook comments.
While harm reduction has been an official policy for decades in a number of European countries, its expansion in the US, where it began as a grassroots movement during the AIDS crisis in the Eighties, is a more recent phenomenon. San Francisco was an early adopter. In 2000, the citys Health Commission unanimously voted to adopt a harm reduction policy for drug offences. The city effectively decriminalised drug use while at the same time shifting public funding away from enforcement and toward providing clean needles, distributing the drug naloxone, which can reverse opioid overdoses, and offering methadone and other drug treatment plans. In 2020, San Francisco led the country in overdose deaths.
Last year, New York City allowed the opening of two safe injection sites, a term for facilities where drug users can consume their wares under the supervision of a mix of medical professionals and former addicts who can intervene and revive them if they overdose. The clinics have intervened in more than 300 potentially fatal overdoses since they opened, according to staffers. Despite the sites being illegal under federal law, city officials have allowed them to operate without interference, setting a precedent for other cities to follow.
New Yorks experiment follows the three-decade harm reduction trial in Canada, which includes the establishment in 2003 of the Insite safe injection facility in Vancouver. While advocates point to the number of overdoses averted and reversed at these facilities, its possible that the policy led to more overall use, potentially contributing to more overdoses outside the clinics than lives saved within it. In British Columbia overdose deaths were up 151% between 2008 and 2020, with much of the increase coming from Vancouver. In Oregon, another place where hard drugs were decriminalised in 2020, overdose deaths were up 41%, in 2021 from 2020, compared to a 16% increase nationwide.
Some harm reduction programs such as needle exchanges, fentanyl testing strips, and free testing kits for HIV, appear to have been broadly beneficial. But in the absence of a commitment to the full recovery of individuals, harm reduction morphs into a permanent method of managing chronic drug addiction by expanding the nonprofit-bureaucratic sector. Administrators count lives saved and ODs reversed without registering the broader increase in addiction they help to accommodate. Success is measured not by freeing individuals from addiction so they can live full lives, but by the growth of the treatment bureaucracy.
General Jeff, a black community activist who has lived in Skid Row for a decade described a similar dynamic in the approach to homelessness when I spoke with him a few years ago. Theres never been a shortage of funding in modern-day Skid Row, Jeff told me, blasting the areas nonprofits as poverty pimps. This isnt really about trying to end homelessness. Thats just a marketing campaign. Just to make people outside of Skid Row feel good.
Bureaucracy, wrote Christopher Lasch in The Culture of Narcissism, transforms collective grievances into personal problems amenable to therapeutic intervention. Lasch does not pretend that individual moral accountability is sufficient to redress collective grievances or systemic injustices, but nor does he attempt to dismiss it as an anachronism. Morality grounds the sense of dignity and self-worth that provide us with our best internal defence against the unavoidable calamities of fortune. It is not a replacement but a precondition for a meaningful politics of collective action. The transformation observed by Lasch has repurposed the minimalist do no harm ethos as a maximalist licence to redesign society.
Harm reduction was never just about the drugs or the deaths or the diseases, wrote Daniel Raymond, a policy and planning leader at the Harm Reduction Coalition, in a March 2020 essay on Harm Reduction in the Time of the Coronavirus. Rather, writes Raymond in the morally inflationary language used by activists staking out a claim to administrative power, harm reduction is heir to the multiple legacies of the communities and struggles we come from the hybrid wisdom that emerges from communal survival in the face of threats of being dispossessed, disenfranchised, displaced, disappeared.
Because harm can be found anywhere, harm reduction now appears everywhere. The framework is applied to criminal justice, diet and exercise, prostitution, curbing adults sexual attraction to minors otherwise known as paedophilia and a range of other seemingly unrelated fields. Harm reduction, as a framework, acknowledges that white supremacy, patriarchy, classism, fatmisia, transmisia, ableism, xenophobia, and myriad other systems of oppression infuse space and structures and are a part of our socialisation, wrote the authors of an academic journal article on Observing Whiteness in Introductory Physics in March.
The essential alchemy of progressivism is performed by converting drug addiction from a vice afflicting individuals, which they have the power to change, into the basis of an identity group with a claim to government services. The collective grievances relating to the social and economic policies that might have pushed hundreds of thousands of people into drug dependency are first privatised through addiction and then bureaucratised so they can be managed by a class of appointed supervisors. In turn, the power of the bureaucracy is redirected from enforcing behavioural norms to overseeing the consequences of their dismantling.
This transformation is consummated with a novel language that marks the new political identity within the lexicon of professional progressivism. Following the lead of those in harm-reduction and drug-users rights groups, I decide to scrub the word addict from my vocabulary, wrote Sarah Resnick in a piece featured in The Best American Essays 2017 anthology. As alternatives to addict, Resnick finds: person with a substance-misuse disorder; person experiencing a drug problem; person who uses drugs habitually; and person committed to drug use.
The stiltedness of the language would be a small price to pay if harm reduction policies reduced drug dependency but since its not clear thats the case, the effort turns on trying to alter language and perception. Dont be ashamed you are using, be empowered that you are using safely, declared a poster by the New York City Health Department that recently appeared in the subway system. Shame is a useless emotion that often keeps ppl from investing in themselves or others. We should be celebrating ppl who are taking the steps in this poster, tweeted Kassandra Frederique, the executive director of the Drug Policy Alliance, one of the leading drug policy reform organisations in the US. Frederiques statement was retweeted by a spokesman for the New York City Department of Health.
Instead of fostering the behaviour necessary to give someone a genuine sense of self-worth a project that may well be beyond the power of anyone but the individual and their maker harm reduction converts the bare physicality of safety into the cheap currency of empowerment. The message presumes that addicts would not and should not feel shame for their dependency absent external judgements. It minimises the ravages attendant to drug addiction such as criminality, homelessness, despair and decay by framing them as the consequences of unsafe practices, without any connection to the spiritual poverty of dependency. In the religious and humanistic view, shame is the voice of the individuals conscience. Others may seek to shame us, but true shame arises only when the individual has transgressed against their own innate sense of decency. But the conscience has no place in the maximalist world view of the harm reductionists, except as a relic of the retrograde morality that prevents addicts from experiencing empowerment.
At what end is the policy of harm reduction aimed? The war on drugs promised end point was, obviously, unreachable, but the harm-reduction crusade has no ending at all except the construction of a new system of power, no less punitive than the one it seeks to replace.
Many people seem to have accepted that harm reduction efforts are a temporary life-saving measure a way of buying time for people caught in a cycle of addiction while moving them gently toward recovery. But its by no means clear that people doing harm reduction work all see it this way. Some are explicit about the fact that they see nothing wrong with hard drug use and and view attempts to force people into recovery as puritanical efforts to stamp out pleasure.
Others genuinely want to help drug users and other people in high-risk lifestyles by keeping them alive and guiding them toward lives free from addiction. But even those efforts are bound up in the expansionist project to treat an endless and ever expanding litany of harms by means of a bureaucracy in which being exposed to racism and being addicted to drugs are understood as two expressions of the same oppressive system. Harm reduction is friends; the law is cops, wrote one devoted adherent to the practice in a 2019 essay about sex work.
In 2022, the White House National Drug Control Strategy devoted a full chapter to harm reduction. Which is to say that, whatever its beginnings, harm reduction is now the self-talk of the state bureaucracy, not only the law but its spirit.
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President Bidens unintended war on cancer patients – The Hill
Posted: at 12:56 am
Patients could become the collateral damage of a tug of war that Washington is playing between lowering drug prices and lowering the death rate from cancer. It comes at a moment when the White Houses proposed Cancer Moonshot initiative took center stage at the flagship meeting of the American Society of Clinical Oncology (ASCO) and as Sen. Joe Manchin (D-W.Va.) resumes talks with Democratic leadership to revitalize drug price controls. Despite the great intent of the Cancer Moonshot, new evidence tells us the joint implementation of such price controls from Congress will raise cancer mortality substantially and stall out decades of progress to discover treatments for a devastating and personal disease.
Cancer is the second leading cause of deaths in the U.S. today, killing about 600,000 Americans a year. Most of us have been left behind by loved ones who became victims of the dreadful disease. Given its large historical presence, in 1971 theNational Cancer Act was passed in a bipartisan fashion, spurring the War on Cancer through decades of significant public investment in cancer research that continues to this day.Evidence has foundthat theeconomic rates of returns of this war, the gains in cancer longevity relative to investments in research and development (R&D), have been enormous and that cancer patient gains from the war have been five times as large as those of drug companies who made such investments.
Recently the Biden administration aimed to further this ongoing war by reigniting the Cancer Moonshotto substantially cut cancer mortalitythrough its proposed federal budget. Its stated objectives include cutting cancer mortality in half over the next 25 years. Just as for the rest of us, family members of the president were struck with the disease, and this seems to have heightened the relevancy for the president of the Moonshot initiative before his current term in the White House.
In the new budget, the White House proposed a $1.9 billion annual increase in public R&D funding for cancer, mainly through additional funds to the Advanced Research Projects Agency for Health (ARPA-H) and the National Cancer Institute (NCI). This represents about a 3 percent increase to what we estimate is the current level of cancer R&D, public and private, of about $57 billion, where the private share is not directly reported given the proprietary nature of R&D.
This injection of federal funds comes at a time when cancer research is booming due to existing market and policy incentives. Our analysis finds and astonishing 49 percent of the total FDA pipeline today is for new cancer treatments and 27 percent of new drug and biologics approvals are for cancer.
But the Moonshot is not the only Washington proposal affecting cancer R&D and the discoveryof future treatments for cancer patients. In fact, contradictory to the Biden administrations goals on cancer, a separate effort in Congress to institute price controls on prescription drugs would actually dampen the very efforts to fuel the development of new, potentially groundbreaking cancer treatments.
In a new analysis, researchers at the University of Chicago found that proposed drug price controls on cancer treatments will reduce overall annual cancer R&D spending by about $18 billion per year, or 31.9 percent. Despite admirable efforts by the administration to increase funding for cancer research, the reduction in total R&D spending from the proposed price controls is about 9.5 times as large as such an increase from the budgetary expansion.
In short, cancer patients would miss out on 9.5 times as many new drugs due to price controls as they gain from the Cancer Moonshot initiative.
Despitemountains of evidence, some politicians unfamiliar with how markets work argue that future profits do not drive R&D spending so price controls will not impact the development of new drugs. Maybe a Congressional field visit to a venture capital or private equity firm would be useful, to see in action the self-evident fact that future profits drive the funding rounds needed to finance the trials required by FDA. Or just look at howlittle private researchoccurred understanding COVID natural immunity compared to vaccines because natural immunity cannot be sold but vaccines can. Turns out good science relies on good profits.
Politicians also argue that cancer care is more expensive here than abroad, arguing that we need to import foreign price controls. But if the large U.S. market pays less than the actual value of cancer treatments like foreigners do, it will have larger effects worldwideas the U.S. contributes more than 70 percent of the global drug earnings driving worldwide innovation.
Such innovation is making remarkable strides at the moment. At ASCO this June, researchers presented findings from a small clinical trial for colorectal cancer that triggered a remarkable remission in all 14 patients who received the treatment. It is a testament to what is possible for patients who are suffering from a devasting disease and how dedicated R&D spending can change the course of care. It is also a stark reminder of what is at stake for the president and an administration that is focused on both lowering cancer mortality and prices of cancer treatments.
Though the actions of the administration and Congress are well-intended, price control proposals will unintentionally reverse decades of progress to win the ongoing war on cancer that began in 1971 when President Nixon signed the National Cancer Act.
Tomas J. Philipson is the Daniel Levin Chair Emeritus at the University of Chicago Harris School of Public Policy and a former member and acting chair of the White House Council of Economic Advisers from 2017 to 2020. He reports research support or consulting income from many industries including biopharmaceutical companies.
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Drug overdose deaths ‘break records’ in US and Canada – The National
Posted: at 12:56 am
Deaths by drug overdose in the US and Canada, particularly by recreational use of fentanyl, continue to break records, a UN report says.
Preliminary estimates in the United States point to more than 107,000 drug overdose deaths in 2021, up from nearly 92,000 in 2020, the UN Office of Drugs and Crime (UNODC) said in a report released on Monday.
Increased harmful levels of non-medical pharmaceutical drug use were reported in the coronavirus pandemic period, the report found. Today, more young people are using drugs compared with earlier generations, and women in particular are unable to find treatment.
Women account for over 40 per cent of people using pharmaceutical drugs for non-medical purposes, and nearly one in two people using amphetamine-type stimulants, but only one in five in treatment for amphetamine-type stimulants is a woman, Ghada Waly, executive director of the UN Office on Drugs and Crime, said.
In April, US President Joe Biden announced a new strategy designed to battle drugs use.
It includes expanding access to antidotes to prevent overdoses, treatment services, new efforts to disrupt transnational criminal organisations' financial networks and supply chains.
Its time we treat addiction like any other disease. And at the same time, we are disrupting drug traffickers financial networks, supply chains, and delivery routes, including on the internet, Mr Biden said at the launch of the strategy.
Amphetamine misuse is not limited to North America. The Middle East is dealing with floods of the amphetamine known as Captagon from Lebanon and Syria, UNODC found.
Saudi Arabia seized the most amphetamines in 2020, at the equivalent of almost 30 tonnes, followed by the United Arab Emirates at roughly 12.5 tonnes.
Traffickers are known to employ unusual methods for smuggling, like placing the drugs inside a shipment of fava beans, or hiding them inside grapes, or tea bags.
Saudi Arabia banned Lebanese produce last year after announcing it had stopped 600 million pills and hundreds of kilograms of hashish from Lebanon from entering the kingdom in the six years before.
The 10-year civil war in Syria created a fertile environment for Captagon production, which, the UN said, has become increasingly important to the illicit economy in the country.
Last month, Jordan's military said it reported a sharp rise in attempts to smuggle drugs worth millions into the country from Syria, particularly Captagon pills.
The Jordanian armed forces are confronting a drugs war on the [Syrian] border, Col Mustafa Hiyari, head of military media, told reporters.
In Africa's Sahel, armed groups associated with Al Qaeda and ISIS are exploiting the drug trade for gain, the UN report said.
The drug commonly trafficked there is cannabis, mainly produced in Morocco for consumption in Europe and the Middle East.
There is mounting evidence that the Sahel route is being used for cannabis resin trafficking, and the Security Councils Panel of Experts on Mali reports several instances in which large cannabis resin shipments transiting from Morocco to Libya have produced deadly clashes between groups in the region, potentially constituting ceasefire violations.
Daily cannabis use, especially among young adults with mental health issues, has become prevalent, the report said.
Cannabis legalisation in North America appears to have increased daily cannabis use, especially potent cannabis products and particularly among young adults.
The Captagon pills were hidden inside plastic lemons. Photo: Dubai Police
Associated increases in people with psychiatric disorders, suicides and hospitalisations have also been reported. Legalisation has also increased tax revenue and generally reduced arrest rates for cannabis possession.
Cocaine manufacture hit a record in 2020 up almost 11 per cent from the year before as gaps continue to appear in the availability of drug treatments for women, the report said.
Cocaine seizures also increased, despite the Covid-19 pandemic, to a record 1,424 tonnes in 2020, the UN found.
While North America and Europe are the main markets for the drug, more cocaine is being trafficked to Africa and Asia.
Updated: June 28, 2022, 2:13 PM
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Yahoo Sports: Scores and News on the App Store
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Inflation will probably fall, but it won’t be the Fed’s doing: Morning Brief – Yahoo Finance
Posted: at 12:55 am
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe
Tuesday, June 28, 2022
Today's newsletter is by Emily McCormick, a reporter for Yahoo Finance. Follow her on Twitter.
The Federal Reserve is working hard to bring down inflation, raising interest rates at the fastest pace in nearly 30 years.
Recently, some analysts have begun to explore the idea that inflation may moderate in the coming months.
But this decline likely won't be due to the efforts of the Powell Fed.
It increasingly looks like markets mistook [the] 'bullwhip' effect of supply chain (including food) for secular inflation, Tom Lee, Fundstrats head of research, wrote in a note Sunday.
The bullwhip effect describes, roughly, the tendency of businesses to over- or under-estimate the amount of inventory they will need relative to consumer demand, resulting in volatility in orders across the supply chain.
In the case of the past year, retailers over-estimated, leading them to broadly over-order from wholesalers, who then in turn over-ordered from their own suppliers leading, in aggregate, to a major mismatch between consumers actual demand and inventories on hand. The bloated inventory levels at Walmart (WMT), Target (TGT), Gaps (GPS) and other retailers this past earnings season served as recent examples of how this effect played out in real-time.
I do not believe companies want to permanently carry higher inventory. It is expensive and introduces huge balance sheet risk, Lee said. Thus, companies will want to trim inventories when supply visibility improves. The logical implication, for me, is prices will come down.
This all may sound suspiciously similar to the Feds now-debunked argument from last year that inflation would prove "transitory. And the data even earlier this year have disappointed economists looking for a peak, with Mays 8.6% CPI print unexpectedly taking out what many had expected would be the peak this year in March.
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Already, however, prices for metals, commodities and energy all raw materials in the supply chain have fallen sharply from recent peaks. West Texas intermediate crude oil futures (CL=F) are on track to post their first monthly decline since November, and cotton futures (CT=F) have plummeted from a more than decade-high logged in May.
And this decline may come just in time.
As Jim Reid, Deutsche Banks head of credit strategy and thematic research, illustrates below, the Fed began raising interest rates with inflation significantly higher than seen during prior hiking cycle.
Over the past 70 years, the first rate hike has come, at the median, when the Consumer Price Index (CPI) reached 2.5%. The first rate hike this year, by contrast, occurred in March when CPI soared at an 8.5% annual clip.
The only rate-hiking cycle that resembles the current environment began in August 1980, when the Fed started raising interest rates with inflation running north of 12%.
Chart via Deutsche Bank
Where this cycle is so different is that the first hike occurred very, very late in the inflation cycle, Reid said. My base case remains that the Fed will find it very difficult to ease policy notably given that inflation is going to be harder to dislodge.
And although another ramp-up in the rate of inflation in June may be in the cards, this does not preclude a deceleration in inflation later this year.
June is bound to see another big jump in the headline index, thanks to the surge in gas prices in recent weeks, but the abrupt drop in wholesale prices means that retail gas prices are set to fall quite sharply over the next few weeks, Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a note.
At the same time, core pressures are starting to moderate, thanks mostly to slower wage growth at the margin, so we would be surprised to see the core CPI keep rising at the recent 0.6% per month pace.
Shepherdson said he expects headline CPI to rise by 1.0% in June but then average an only 0.3% rise over the next few months thereafter. And this could then give the Fed leeway to slow its pace of tightening by the end of this year, he argued, even as it refuses to budge from its hawkish rhetoric for now.
Policymakers know very well that the path of inflation, especially the core rate, over the remainder of this year mostly is baked-in and is impervious to their interest rate decisions. Monetary policy works with long lags, Shepherdson said.
But the Fed has constituencies other than monetary economists; they have to calm the inflation fears of the public, the markets, and politicians. That means they have no choice but to sound as tough as possible, because part of their job is to rein-in inflation expectations.
Adding: If inflation then falls faster than their base-case forecastand the marketsthen so much the better.
8:30 a.m. ET: Advance Goods Trade Balance, May (-$105.4 billion expected, -$105.9 billion during prior month, revised to -$106.7 billion)
8:30 a.m. ET: Wholesale Inventories, month-over-month, May preliminary (2.1% expected, 2.2% during previous month)
8:30 a.m. ET: Retail Inventories, month-over-month, May (1.6% expected, 0.7% during prior month)
9:00 a.m. ET: FHFA Housing Pricing Index, April (1.6% expected, 1.5% during prior month)
9:00 a.m. ET:S&P CoreLogic Case-Shiller 20-City Composite, month-over-month, April (1.85% expected, 2.42% during prior month)
9:00 a.m. ET: S&P CoreLogic Case-Shiller 20-City Composite, year-over-year, April (21.20% expected, 21.17% during prior month)
9:00 a.m. ET:S&P CoreLogic Case-Shiller U.S. National Home Price Index, year-over-year, April (20.55% during prior month)
10:00 a.m. ET:Conference Board Consumer Confidence, June (100 expected, 106.4 during prior month)
10:00 a.m. ET:Richmond Fed Manufacturing Index, June (-5 expected, -9 during prior month)
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Theyll chicken out: Fund legend Rick Rule says the Fed wont keep hiking rates aggressively to prevent amazing damage. Here are 3 spots he likes for…
Posted: at 12:55 am
Theyll chicken out: Fund legend Rick Rule says the Fed wont keep hiking rates aggressively to prevent amazing damage. Here are 3 spots he likes for your money
The Fed is raising interest rates aggressively in an attempt to tame raging inflation.
But according to legendary investor Rick Rule former president and CEO of investment fund Sprott U.S. Holdings things may not go as planned for Americas central bank.
I think theyll chicken out, he told Stansberry Research earlier this month.
If we had a period of real interest rates it would certainly cure inflation, but it wouldn't cure inflation until it did amazing damage to various balance sheets.
This isn't the first time Rule has voiced concern about the economys ability to handle substantially higher interest rates.
In an interview with MoneyWise earlier this year, he said, I do not believe that the broad equities market will handle multiple rate hikes.
Rule doesnt suggest bailing on stocks completely. Heres a look at three things that the super investor still sees opportunities in 2022.
Consumer prices are rising at their fastest pace in 40 years. While the Fed is tightening, Rule doesnt believe the rate of inflation will slow anytime soon.
I think we'll continue to see prices going up for most of the remainder of the decade, he told MoneyWise.
To preserve your purchasing power, Rule points to gold and silver, which cant be printed out of thin air like fiat money.
I think that an investor who does not have some of his or her wealth in precious metals or precious metals equities are making an extraordinary mistake, he cautions.
You can buy physical gold and silver at your local bullion shop. Or you can buy shares in companies that produce precious metals.
For investors who are getting started in the sector, Rule suggests looking at the big names first such as Barrick Gold (GOLD) and Wheaton Precious Metals (WPM).
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The first part of a gold bull market and the most predictable part of a gold bull market is enjoyed by the biggest and best companies in the space.
He adds that when money from retail investors moves into the precious metals market, it doesnt go to the small speculative names. It goes into Barrick.
When building an inflation-proof portfolio, Rule also likes Warren Buffetts idea of investing in price-makers: businesses that can easily increase the price of their products and services without jeopardizing demand.
Buffett has been pointing out going all the way back to the 1970s that there are businesses that are so superb that they have pricing power, Rule says.
He uses Apple as an example.
Early last year, Apples management revealed that the companys active installed base of hardware had surpassed 1.65 billion devices, including over 1 billion iPhones.
While competitors offer cheaper devices, many consumers dont want to live outside the Apple ecosystem. That means as inflation spikes, Apple can pass higher costs to its global consumer base without worrying too much about a drop in sales volume.
But Rule doesnt advocate buying Apple.
Instead, he suggests a representative sample of what he calls global dominators through the exchange-traded fund ProShares S&P 500 Dividend Aristocrats ETF (NOBL). NOBL holds S&P 500 companies that have paid increasing dividends for at least 25 consecutive years.
[The fund] has shown itself over the very long term to be a very efficacious strategy for more than maintaining purchasing power, for adding to your wealth, Rule says.
Since NOBLs inception in October 2013, it has delivered annualized returns of over 12%.
At a time when high inflation is rapidly eroding purchasing power, it might not make sense to keep a bunch of cash on hand.
But thats exactly what Rule recommends.
Sure, savings accounts pay next to nothing these days. However, Rule says that cash gives you the ability to take advantage of moments of illiquidity.
I learned a lesson some years ago in 2008. When I ran into that crisis well-cashed up, the cash gave me both the courage and the tools to take advantage of that circumstance rather than being taken advantage of.
With the global financial markets likely to remain volatile over the near- to medium-term, investors flush with cash wont have a shortage of buying opportunities to capitalize on.
Sign up for our MoneyWise newsletter to receive a steady flow of actionable ideas from Wall Street's top firms.
US is only a few days away from an absolute explosion on inflation here are 3 shockproof sectors to help protect your portfolio
Theres always a bull market somewhere: Jim Cramers famous words suggest you can make money no matter what. Here are 2 powerful tailwinds to take advantage of today
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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Chip makers are refusing to build new semiconductor plants in the U.S. unless Congress unlocks $52 billion in funding – Yahoo Finance
Posted: at 12:55 am
The worlds third-largest maker of semiconductor wafers, Taiwans GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Mondaybut only if the government helps pay for it.
This investment that theyre making is contingent upon Congress passing the CHIPS Act. The [GlobalWafers] CEO told me that herself, and they reiterated that today, U.S. Commerce Secretary Gina Raimondo told CNBC, the same day GlobalWafers announced its development plan.
Congress actually passed the CHIPS Act, which proposed $52 billion in funding for local players to invest in the domestic chip industry, in January 2021 as part of that years National Defense Authorization Actan annual bill designed to provide guidance on policies and funding for the year. But, over a year later, Congress has yet to formally allocate any budget to finance the bill.
It has to be done before [Congress goes] to August recess. I dont know how to say it any more plainly. [The GlobalWafers] dealwill go away, I think, if Congress doesnt act, Raimondo told CNBC.
The CHIPS Act is intended to shore up Americas flagging chip industry as a hedge against Chinas accelerated development of its own semiconductor capabilities and shift global production away from Chinas shores. The majority of global semiconductor manufacturing is consolidated in Taiwan, an independent island that Beijing claims sovereignty over.
Technically, the CHIPS Act is supposed to support domestic companiesnot foreign companies investing in America. But last December the U.S.-based semiconductor industry organization SEMI urged Congress to open CHIPS funding for all companies investing in the U.S.
Taiwans GlobalWafers, which has proposed building its new plant in Texas, isnt the only chip industry manufacturer that has conditioned its investment in the U.S. on government funding.
In 2020, Taiwan Semiconductor Manufacturing Corp. (TSMC), the worlds largest contract chip manufacturer, announced plans for a $12 billion plant in Phoenix to produce its most advanced chips. But TSMC CEO Mark Liu made it clear development would go ahead only if the government could make up TSMCs running costs difference between the United States and Taiwan.
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The State of Arizona approved at least $200 million in public infrastructure funding to support TSMCs factory operations in Phoenix, including spending on roads and sewage systems. In June, TSMC said construction of its Arizona fab, which is ongoing, was proving to be more costly than the company anticipated and called for Washington to extend CHIPS support to foreign firms.
Of course, domestic players want the government to help subsidize their own expansions in the U.S., too. Last week, Intel put a freeze on construction of its latest $20 billion factory in Ohio and postponed its groundbreaking ceremony indefinitelyor until Congress funds the CHIPS Act.
Unfortunately, CHIPS Act funding has moved more slowly than we expected, and we still dont know when it will get done, Intel spokesperson Will Moss told the Wall Street Journal, calling on Congress to act so Intel can move forward at the speed and scale we have long envisioned for Ohio.
This story was originally featured on Fortune.com
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