Teesside Uni to capture 3.5–5m tonnes of CO2 in UK | Novartis to face claims over kickbacks to promote drug | AT&T, Verizon targeted by Salt Typhoon

In today’s Portfolio Intelligence Daily:?

• Teesside Uni to capture 3.5–5m tonnes of CO2 in UK
• Novartis to face claims over kickbacks to promote MS drug
• AT&T, Verizon targeted by Salt Typhoon cyberespionage operation

Our analyst team curates these summaries from Auquan’s Intelligence Engine, which uses generative AI and retrieval augmented generation (RAG) to uncover material non-financial insights at scale to support deal sourcing, due diligence, risk monitoring, and compliance.

Industry trends:

• The magic of RAG is in the retrieval (InfoWorld) — Retrieval-augmented generation (RAG) and AI agents are transforming how AI can automate knowledge work in the enterprise.
• Tackling Information Overload in the Age of AI [private credit] (TDWI Upside)
• Why AI is finally catching up with financial services (Maddyness)

Teesside Uni to capture 3.5–5m tonnes of CO2 in UK

Teesside University, in collaboration with the University of Edinburgh, has developed a groundbreaking material named CalyChar, designed to capture and store carbon dioxide (CO2) from the atmosphere as part of their efforts to combat climate change.

• This innovative material is an advanced form of hydrochar created through hydrothermal carbonization (HTC), which processes organic waste using heat and water. Researchers have enhanced hydrochar by adding amino acids and metal oxides to improve its CO2 capture capabilities.

• CalyChar has the potential to capture and permanently store between 3.5 to 5 million tonnes of CO2 annually in the UK and nearly 30 million tonnes globally by 2030, at a significantly lower cost of around ￡100 per tonne, making it more affordable than traditional direct air capture (DAC) technologies.

• Once carbonized, CalyChar can store captured CO2 as a stable carbonate for years, providing a long-lasting solution for reducing atmospheric carbon levels.

• Dr. Humbul Suleman, the project lead, emphasized that CalyChar represents a significant advancement in climate solutions, while Professor Ond?ej Ma?ek highlighted the importance of integrating such materials into broader strategies to meet net-zero targets. The project aims to explore real-world applications, including uses in bio-concrete and bio-cement, contributing to sustainable construction and soil enrichment.

Select timeline

• Dec 26, 2024| New material could transform carbon capture at much lower cost (RDWorldonline)
• Dec 19, 2024 | New material could capture millions of tonnes of atmospheric carbon (Tees.ac.uk)
• Nov 20, 2023 | Collaborative project to advance Direct Air Carbon Capture in the Teesside Cluster (Tees.ac.uk)

Novartis to face claims over kickbacks to promote MS drug

Novartis, the Swiss pharmaceutical giant, is facing renewed scrutiny over allegations that it engaged in kickback schemes to promote its multiple sclerosis drug, Gilenya.

• A U.S. appeals court has ruled that Novartis must confront allegations brought by whistleblower Steven Camburn, who claims the company made illegal payments to doctors to boost Gilenya prescriptions.

• The accusations involve Novartis allegedly hosting sham speaker events and paying doctors to attend, which were purportedly designed to promote Gilenya while defrauding state health insurers like Medicare.

• This case follows a 2020 settlement in which Novartis agreed to pay $729 million to resolve similar claims regarding kickbacks and illegal co-payment support for its drugs.

• While a previous lawsuit was dismissed due to insufficient evidence of a kickback scheme, Camburn and his legal team plan to appeal this decision, expressing confidence in their case.

Select timeline

• Dec 28, 2024 | Novartis likely to face Gilenya bribery allegations again (Swissinfo)
• Sep 14, 2024 | Novartis escapes claim that it paid kickbacks to promote MS drug (Reuters)
• July, 2020 | Novartis Pays $729M for Copay and Kickback Claims (Loeb)

AT&T, Verizon targeted by Salt Typhoon cyberespionage operation

AT&T and Verizon have recently been targeted by the Salt Typhoon cyberespionage operation, which is linked to Chinese state-sponsored hacking efforts. Both companies have assured that their networks are now secure following the attacks.

• AT&T and Verizon confirmed they were targeted by the Salt Typhoon operation, which is associated with Chinese cyber espionage activities. They reported that their networks are currently secure and functioning normally.?

• U.S. officials revealed that at least nine telecom companies were compromised in this operation, with hackers gaining extensive access that included capabilities to geolocate individuals and record phone calls.?

• Both carriers have collaborated with law enforcement and cybersecurity firms to address the threats. AT&T noted that only a small number of individuals of foreign intelligence interest were specifically targeted, while Verizon confirmed no ongoing threat actor activity.

• In light of these incidents, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) has recommended that senior officials adopt end-to-end encrypted communication apps to enhance security against such cyber threats.

Select timeline

• Dec 30, 2024 | US adds 9th telcom to list of companies hacked by Chinese-backed Salt Typhoon cyberespionage (Reuters)
• Dec 29, 2024 | AT&T, Verizon secure from Salt Typhoon cyber espionage operation: Report (Thedailystar)
• Dec 29, 2024 | AT&T and Verizon targeted by Salt Typhoon cyber attack (Telecomlead)

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