Tag: South Africa

AI-Media and Speechmatics Partnership

BROOKLYN, N.Y., Sept. 13, 2024 (GLOBE NEWSWIRE) — AI-Media – the global leader in audiovisual encoding technology and AI-driven transcription and translation solutions, and Speechmatics – the market leader in speech recognition technology, today announce a strategic expansion of their multi-year partnership to deliver new and better AI-driven products to market.

This partnership brings together Speechmatics’ leading speech-to-text technology and AI-Media’s unique iCap-based encoding appliances and secure network that seamlessly embeds the technology within customers’ existing workflows and automation systems.

By integrating these capabilities, AI-Media’s LEXI 3.0 has been the first AI product to overtake the quality of human-in-the-loop alternatives in the live video market – at a fraction of the cost.

Tony Abrahams, CEO of AI-Media, shared his thoughts on the partnership:

“Our data derived from the performance of LEXI 3.0 has shown Speechmatics to be one of our most trusted engines over the last two years, consistently delivering accurate results that continue to improve. This partnership brings our two companies even closer as we co-develop and ideate innovative solutions for the future of captioning and translation.

Together, we will create solutions that are accurate, reliable and adaptable to the diverse needs of our global clientele.

This collaboration deepens the partnership that has seen AI-Media’s iCap encoding ecosystem emerge as the leading choice of broadcasters and government customers around the world looking to get the best possible performance from these game changing AI technologies from Speechmatics.”

By leveraging Speechmatics’ advanced speech recognition engine and AI-Media’s cutting-edge workflow and encoding technologies, this partnership addresses the diverse and complex needs of various industries, from broadcasting to government and enterprise sectors.

The partnership broadens Speechmatics’ reach by integrating its core technology into AI-Media’s LEXI 3.0 product.

Extending the success of LEXI 3.0 into the European broadcast market is a near term objective – Speechmatics’ emerging multilingual capabilities align perfectly with AI-Media’s growth plans.

A Vision for the Future

This new partnership elevates AI-Media to become Speechmatics’ largest live captioning market partner, marking a significant milestone in their collaboration.

“Speechmatics has become the leading Automatic Speech Recognition (ASR) provider within broadcast because of our high accuracy and low latency across multiple languages, both live and offline. AI-Media has successfully integrated our technology into their market leading broadcast infrastructure to achieve impressive growth in their chosen markets, and this strategic partnership brings closer collaboration to allow for more rapid innovation and agility. As a result, global broadcasters will continue to get the best captioning service on the market and our combined strength in AI driven captioning can be utilised in a broader array of verticals,” said Katy Wigdahl, CEO of Speechmatics.

Together, AI-Media and Speechmatics are committed to integrating best-in-class technologies to set new industry standards. This collaboration is not just a technical integration but a partnership of vision and innovation, aimed at continuously evolving and adapting to the dynamic demands of the global language services market.

Visit AI-Media at IBC 2024

Experience AI-Media’s latest innovations at IBC 2024 and discover why broadcasters and organisations worldwide trust AI-Media and LEXI to transform their captioning workflows. To book a 1:1 meeting click HERE. For more information, visit ai-media.tv.

About AI-Media

Founded in Australia in 2003, AI-Media is a pioneering technology company specialising in AI language and captioning workflow solutions.

As a global leader, AI-Media provides high-quality AI-powered live and recorded captioning and translation technology and solutions to a diverse range of customers and markets worldwide.

For the first time in February 2024, AI-Media unveiled groundbreaking data showcasing the superiority of its AI captioning product, LEXI, over traditional more expensive human workflows in the live video market.

With deep industry experience and sophisticated AI technology to create solutions which streamline and simplify processes, AI-Media empowers leading broadcasters, enterprises and government agencies globally to ensure seamless accessibility and inclusivity of their content.

AI-Media (ASX: AIM) commenced trading on the ASX on 15 September 2020.

Visit Speechmatics at IBC 2024

Join Speechmatics at IBC 2024 and explore the latest advancements in Automatic Speech Recognition (ASR) technology. Discover why leading broadcasters and organizations like AI Media trust Speechmatics for real-time, accurate, and scalable ASR solutions. To schedule a 1:1 meeting, click HERE. For more information, visit speechmatics.com

About Speechmatics

Speechmatics is a global leader in Automatic Speech Recognition (ASR) technology, trusted by the biggest brands in the media and broadcasting industry. Our cutting-edge ASR solutions deliver the lowest latency and highest accuracy in the market, providing broadcasters with the fastest, most reliable real-time transcription services available.

Pioneering Innovation in ASR: We continuously push the boundaries of ASR technology to ensure our customers stay ahead. Our solutions not only capture spoken words but also recognize audio events such as laughter, applause, and music, setting us apart from the competition.

We’re excited to introduce Ursa 2, our latest breakthrough mode, offering an 18% reduction in errors across 50 languages, including enhanced support for Arabic dialects, Irish, and Maltese—bringing our language coverage to all 24 official EU languages. With latency reduced to under 1 second, Ursa 2 enhances real-time transcription at lightning-fast speed without compromising accuracy.

For broadcasters and organizations aiming for precision and speed in their captioning workflows, Speechmatics is the go-to choice.

Media Contact: Fiona Habben – Fiona.habben@ai-media.tv

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5929ce95-d0a8-4632-a788-8e90065db860

GlobeNewswire Distribution ID 9229707

WALTHAM, Mass., Sept. 12, 2024 (GLOBE NEWSWIRE) — Zenas BioPharma, Inc. (“Zenas”), (Nasdaq: ZBIO) a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies, today announced the pricing of its upsized initial public offering of 13,235,294 shares of its common stock at an initial public offering price of $17.00 per share. All of the shares are being offered by Zenas. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $225.0 million. Zenas’ common stock is expected to begin trading on the Nasdaq Global Select Market on September 13, 2024 under the ticker symbol “ZBIO”. The offering is expected to close on September 16, 2024, subject to the satisfaction of customary closing conditions. In addition, Zenas has granted the underwriters a 30-day option to purchase up to an additional 1,985,294 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities are acting as joint book-running managers for the offering.

Registration statements relating to the shares being sold in the offering have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 12, 2024. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; and from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Zenas BioPharma, Inc.

Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative immunology-based therapies for patients in need. Our core business strategy combines our experienced leadership team with a disciplined product candidate acquisition approach to identify, acquire and develop product candidates globally that we believe can provide superior clinical benefits to patients living with autoimmune diseases. Zenas’ lead product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb, which are broadly present across B cell lineage, to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them.

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the completion, timing and size of the initial public offering and the commencement of trading on the Nasdaq Global Select Market. Each forward-looking statement is subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Zenas, including, without limitation, market conditions, failure of customary closing conditions and the factors discussed in the “Risk Factors” section of the prospectus that forms a part of the registration statement, in the form last filed with the SEC. These forward-looking statements speak only as of the date of this press release and Zenas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:
Matthew Osborne
Investor Relations and Corporate Communications
Matt.osborne@zenasbio.com

Media Contact:
Argot Partners
Zenas@argotpartners.com

GlobeNewswire Distribution ID 9230259

Thousands competed in the 15th edition of World Class for the coveted title

As part of his journey, the winner showcased how Scotch Whisky can come alive and elevate a new generation of serves using technology, with a bespoke Johnnie Walker Blue Label serve. He was also challenged to create a duo of drinks reimagining both his home city and Shanghai featuring indigenous ingredients alongside Don Julio tequila. For his home city, Halifax, Nova Scotia, he showcased his take on a dish called Hodge Podge – a stew with local harvested vegetables – and took elements of that to create a twist on a classic eggnog. A Ketel One vodka challenge saw Keegan tasked with creating a cocktail initiative that supports the growth of the hospitality community in his neighbourhood in Halifax. He also created three pioneering gin cocktails with Tanqueray No. TEN, which took the judges on a journey through bartending history and into the future, with each drink paying tribute to an industry legend.

The Singleton challenge was about designing an ingeniously theatrical Single Malt Scotch whisky serve, blending taste with sound. The culmination was The Shanghai Showdown final challenge, which saw Keegan along with seven other finalists create an immersive bar pop-up experience that transcended the boundaries of bartending and set the tone for the future of cocktail culture.

Some of the industry’s most respected and awarded talent, including Agostino Perrone, Director of Mixology at London’s Award-Winning Connaught Bar, Ryan Chetiyawardana, mastermind of the Mr Lyan empire, Julie Reiner from NYC hot-spots, Milady’s and Clover Club, alongside an elite team of bartenders and bar owners from behind some of the world’s most celebrated bars formed the judging panel throughout the week.

Keegan McGregor, World Class Global Bartender of the Year 2024, said:
“My World Class journey started six years ago, so it’s a really special experience to be recognized as the World Class Global Bartender of the Year 2024. The camaraderie amongst the competitors this week has been both inspiring and has kept me going. The biggest piece of advice I was given was to be myself and that’s exactly what I did.”

Kevin Delaney, Global Senior Brand Manager of World Class, said:
“World Class has gone from strength to strength over the last 15 years and grown a reputation as a hotbed of trends and a pinnacle of bar culture. This year’s program truly feels like the culmination of a decade and a half of learning and growth for our program and global hospitality community. Shanghai is a unique meeting of traditional and modern and the city set the scene for an incredible week of creativity, professionalism, and hospitality at its best. Diageo has long been committed to celebrating the best of this wonderful industry and tonight we celebrate this year’s winner but also everyone who has been part of World Class over the last 15 years. I couldn’t be prouder of Keegan and can’t wait to be a part of this exciting new chapter of his journey as World Class Global Bartender of the Year”.

Cocktail lovers and industry experts travelled from across the globe to be part of an innovative and dynamic three-week programme of highlights. The World Class Cocktail Festival, accompanying the competition, showcased the best of Shanghai and the surrounding area’s cocktail and bar scene with over 100 venues activating with unique events and menus. Special guest shifts were held at Shingo Gokan’s host of award-winning Shanghai bars, Speak Low, Sober Company and The Odd Couple; Coa Shanghai, a Mexican-inspired cocktail bar specialising in agave spirits and cocktails; Hope & Sesame Guangzhou, ranked No.14 in Asia’s 50 Best Bars; Epic, an award-winning cocktail bar by Cross Yu, showcasing Shanghai Local Culture and Disco Era, and Japanese-influenced Suzu Bar, Shanghai. Last year’s World Class global winner, Jacob Martin, also hosted a guest shift at the luxury Mandarin Oriental hotel, in nearby Guangzhou.

World Class’s international cohort of industry experts did more than judge challenges and takeover the city’s bar scene, they also participated in the first-ever World Class Mentorship program and contributed to Industry Forum. This consisted of seminars, workshops, and group discussions, focussed on discussing the industry’s hottest and most discussed topics of the moment, which are faced by global hospitality businesses and professionals in every region. These included “Vibe Architecture” with Julie Reiner, Adrián Michalčík, Shelley Tai and Ervin Trykowksi, which immersed attendees in the essential elements of constructing a sensory landscape that perfectly complements consumer offering. “Content is Queen” with Jing Zhang, Global Editor-in-Chief of Jing Daily, Kaitlyn Stewart of @likeablecocktails and Giuliana Pe Benito, Global Culture Manager for World Class and Tanqueray, was hosted by Gillian Cook, Global Head of Culture for Diageo Luxury. Together, they looked at the unique solutions today’s content creators bring to the challenges in luxury brand building and reaching audiences in the digital age.

NOTES TO EDITORS
For more information, please contact worldclass@thestory.co.uk

ABOUT KEEGAN MCGREGOR
Born and raised in Halifax, Nova Scotia, Keegan fell in love with hospitality while touring Canada, after studying Classical music in New Brunswick.

Keegan has the simple goal of always making sure his customers have a warm welcome – feeling like they’ve been invited into his house for a kitchen party and have the right drink in hand. He continuously strives to help grow the pub-dominated market by educating his customers and peers, and bringing more attention to the world of spirits. This year was Keegan’s third time competing in World Class Canada.

ABOUT WORLD CLASS
World Class is on a mission to inspire people to drink better and create unforgettable experiences in the process. Whether at home or in a bar, World Class encourages consumers to think and care about what, where and how they drink, and in doing so, discover the best of cocktail culture.

World Class has supported, trained and inspired over 400,000 bartenders across the globe for the past fifteen years, while partnering them with the world’s finest spirits. World Class is the authority on the global drinks industry for information on the latest drinks, trends, cocktail recipes and industry insight.

ABOUT WORLD CLASS INDUSTRY FORUM
World Class is a global gathering of the world’s most respected and celebrated talent, and through the World Class Industry Forum initiative, the conversations that spark creativity are nurtured. The Industry Forum is providing a platform that unifies the community and encourages leading voices to share insights, discuss impact and build a lasting legacy for those in the industry. From the introduction of technology infused mixology to vibe architecture, the art of curating an emotional connection for guests, the community remains committed to transforming cocktail culture and delivering next level experiences for each and every cocktail lover. This year’s World Class Industry Forum also saw a brand-new one-on-one mentorship programme introduced, offering the finalists the opportunity to receive dedicated time and bespoke guidance from some of the industry’s world-leading talent, including the World Class Hall of Fame.

ABOUT DIAGEO
Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits and beer categories. These brands include Mortlach, Johnnie Walker, Crown Royal, J&B and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo’s global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice. Celebrating life, every day, everywhere.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5302bd3b-3121-4749-99a0-d84cd2c29e3c
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb19c4c7-6bed-4a57-8899-d93b778cba83
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a0c8e48-d3c5-4f97-b664-7f1111d36491

GlobeNewswire Distribution ID 1000991554

VICTORIA, Seychelles, Sept. 11, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company has shared its August 2024 transparency report highlighting significant growth, adding 1.72 million users despite challenging market conditions. The cryptomarket saw sharp declines, with Bitcoin falling below $50,000, but Bitget remained resilient by integrating new features and advancing strategic initiatives.

A key highlight was the integration of Apple Pay and Google Pay, allowing users to convert fiat to crypto. This enabled Bitget’s on-ramp capabilities, making it easier for users to buy and trade cryptocurrencies globally, supporting over 140 fiat currencies and 100+ cryptocurrencies.

Bitget appointed Hon Ng as Chief Legal Officer, reinforcing its focus on compliance and regulatory engagement. With over 20 years of experience, Ng now leads efforts to expand in new markets and strengthen regulatory dialogues worldwide for Bitget. This appointment aligns with the company’s goal of advancing crypto adoption through strong compliance.

In August, Bitget’s platform showed impressive growth, offering 800 tokens and 900 spot trading pairs, with daily trading volumes of $400 million in spot markets and $7 billion in futures. The platform’s protection fund remains strong at $400 million, ensuring user security.

“Bitget’s constant innovation and advancements in security has made it one of the fastest growing exchanges. Adding over a million users consistently month-over-month has been a huge achievement for us and also shows the increasing participation in crypto from a wider audience,” says Gracy Chen, CEO at Bitget.

The introduction of new products, such as the Bitget Booster Platform, was also launched to connect crypto influencers with projects, offering content creators generous commission rewards. Additionally, the launch of P2P Shield strengthened security for peer-to-peer transactions, protecting users from fraud.

Bitget also achieved ISO 27001:2022 certification,showcasing its commitment to maintaining the highest standards of information security. As the platform expands, these developments keep Bitget strong as a leader in the crypto industry while ensuring user security and asset protection.

The platform currently boasts 185,000+ pro traders and over 840,000 copy trading followers, leading to more than 90 million successful trades. Profits from these trades have resulted in over $500 million in gains, with $23 million shared by elite traders.

On Bitget Wallet side, the decentralized wallet from Bitget’s ecosystem introduced an MPC wallet with Telegram log-in, simplifying Web3 access by allowing users to create keyless wallets through their Telegram accounts. This innovation enhances security and usability, complemented by a new Telegram trading bot that offers real-time market updates and facilitates meme coin trading. Additionally, Bitget Wallet has integrated token lists from Four.Meme and Sun Pump for TRON and BNB Chain memecoins, upgraded transaction features, and pledged 2 million $TRX to subsidize gas fees, making trading faster, cheaper, and more user-friendly.

For more in-depth insights, visit Bitget’s August Transparency Report.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a615fb6-94c8-43bc-bb88-3b06a60d5bcc

GlobeNewswire Distribution ID 1000991293

VICTORIA, Seychelles, Sept. 11, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company has shared its August 2024 transparency report highlighting significant growth, adding 1.72 million users despite challenging market conditions. The cryptomarket saw sharp declines, with Bitcoin falling below $50,000, but Bitget remained resilient by integrating new features and advancing strategic initiatives.

A key highlight was the integration of Apple Pay and Google Pay, allowing users to convert fiat to crypto. This enabled Bitget’s on-ramp capabilities, making it easier for users to buy and trade cryptocurrencies globally, supporting over 140 fiat currencies and 100+ cryptocurrencies.

Bitget appointed Hon Ng as Chief Legal Officer, reinforcing its focus on compliance and regulatory engagement. With over 20 years of experience, Ng now leads efforts to expand in new markets and strengthen regulatory dialogues worldwide for Bitget. This appointment aligns with the company’s goal of advancing crypto adoption through strong compliance.

In August, Bitget’s platform showed impressive growth, offering 800 tokens and 900 spot trading pairs, with daily trading volumes of $400 million in spot markets and $7 billion in futures. The platform’s protection fund remains strong at $400 million, ensuring user security.

“Bitget’s constant innovation and advancements in security has made it one of the fastest growing exchanges. Adding over a million users consistently month-over-month has been a huge achievement for us and also shows the increasing participation in crypto from a wider audience,” says Gracy Chen, CEO at Bitget.

The introduction of new products, such as the Bitget Booster Platform, was also launched to connect crypto influencers with projects, offering content creators generous commission rewards. Additionally, the launch of P2P Shield strengthened security for peer-to-peer transactions, protecting users from fraud.

Bitget also achieved ISO 27001:2022 certification,showcasing its commitment to maintaining the highest standards of information security. As the platform expands, these developments keep Bitget strong as a leader in the crypto industry while ensuring user security and asset protection.

The platform currently boasts 185,000+ pro traders and over 840,000 copy trading followers, leading to more than 90 million successful trades. Profits from these trades have resulted in over $500 million in gains, with $23 million shared by elite traders.

On Bitget Wallet side, the decentralized wallet from Bitget’s ecosystem introduced an MPC wallet with Telegram log-in, simplifying Web3 access by allowing users to create keyless wallets through their Telegram accounts. This innovation enhances security and usability, complemented by a new Telegram trading bot that offers real-time market updates and facilitates meme coin trading. Additionally, Bitget Wallet has integrated token lists from Four.Meme and Sun Pump for TRON and BNB Chain memecoins, upgraded transaction features, and pledged 2 million $TRX to subsidize gas fees, making trading faster, cheaper, and more user-friendly.

For more in-depth insights, visit Bitget’s August Transparency Report.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a615fb6-94c8-43bc-bb88-3b06a60d5bcc

GlobeNewswire Distribution ID 1000991293

AMSTERDAM, Sept. 10, 2024 (GLOBE NEWSWIRE) — The latest report from the Access to Medicine Foundation takes a first-ever look at the critical issue of how some of the largest pharmaceutical companies are reaching patients worldwide, especially in low- and middle-income countries (LMICs).

Ahead of the 2024 Access to Medicine Index, the Foundation examined the patient reach commitments and measurement approaches of the 20 companies that will be ranked in the upcoming Index in November. The analysis identified 42 unique approaches to measuring patient reach, each with varying degrees of comprehensiveness. Companies like AstraZeneca, Novartis, and Roche are leading the way with more nuanced approaches that go beyond simply tracking sales, enhancing the accuracy of their patient reach calculations. The report also emphasises that while many companies have set ambitious goals for reaching more patients in LMICs, these commitments could benefit from further refinement in order to drive real change.

What does the report find?

Encouragingly, 19 of the 20 companies assessed have reported using approaches to track the patients they reach with their essential medicines in LMICs, with the exception of AbbVie. However, these approaches vary widely.

Notably, many pharmaceutical companies set ambitious goals and make public commitments to expand their global patient reach, particularly in LMICs. A few of these commitments, including those set by Bayer, GSK and Johnson & Johnson, are clear, measurable and ambitious, with targets aligned with high global disease burdens.

However, findings also reveal significant potential for companies to refine their commitments and better their efforts to reach those in need. For example, the major insulin manufacturers—Eli Lilly, Novo Nordisk, and Sanofi—control over 90% of the market share and have pledged to expand access to their products in LMICs. Yet, their commitments collectively address only 1% of the diabetes prevalence within the 113 LMICs in the scope of the Index, which currently stands at over 350 million cases out of the global 525 million cases, according to Global Burden of Disease data from 2021.

“We have seen that the pharmaceutical industry is making ambitious commitments to reach more patients worldwide. However, this report reveals that there is still much work to be done in achieving meaningful impact and calls for urgent steps to ensure lifesaving products reach every patient, everywhere.”

– Jayasree K. Iyer, CEO, Access to Medicine Foundation.

Next steps

To address chronic health inequity, the pharma industry and its partners must embed patient reach at the core of their business and partnerships. Using the key findings and recommendations identified in the Foundation’s report, companies can strengthen and expand their current approaches, as well as collaborate and learn from one another.

Contact: Divya Verma, Head of Communication

dverma@accesstomedicinefoundation.org / +31 (0) 20 215 3535

GlobeNewswire Distribution ID 1000990240