THE HEALTH | MARCH-APRIL , 2023

A COMMITMENT to social responsibility and innovation are just two attributes that helped Johnson & Johnson land a spot on the prestigious list once again .

Since its founding in 1886 , Johnson & Johnson has been dedicated to changing the trajectory of health for everyone , everywhere . And that dedication continues to be recognised .

For the 21st year in a row , Fortune magazine named Johnson & Johnson a Top 50 All-Star on its list of the World ’ s Most Admired Companies . The company ranked # 1 on the Pharmaceutical Industry list for the 10th consecutive year .

To compile its list of bestregarded companies in 52 industries worldwide and the top 50 most-admired overall , Fortune — in collaboration with consulting firm Korn Ferry — asked executives , directors and analysts to rate

PIONEERING healthcare AI startup Qritive recently announced that it had accumulated $ 7.5 million funds to broaden its portfolio into new horizons . The funding was backed by MassMutual Ventures , SEEDS Capital , the investment arm of Enterprise Singapore , and Exfinitiy Venture Partners .

Qritive was founded in 2017 by Dr Aneesh Sathe and Dr Kaveh Taghipour and has now established itself in Singapore , the USA and India , utilising artificial intelligence to provide swift and detailed interpretations of pathology whole slide image scans .

With around half of the world ’ s population lacking access to basic enterprises in their own industry on the basis of nine criteria . Those include investment value , quality of management , social responsibility and ability to attract and retain talented people .

Johnson & Johnson is one of only

diagnostics , transitioning to digital pathology plays a key role in healthcare systems . Therefore , Qritive has placed clinical-grade AI-powered solutions on the forefront to enable histopathology diagnosis of cancer at scale , which improves efficiency and diagnosis quality , resulting in better patient outcomes .

Additionally , methods utilised by Qritive are CE certified and approved by Singapore Health Sciences Authority ( HSA ) for clinical use . The startup ’ s technology assists in accelerating cancer diagnosis across multiple cancer types such as colon , prostate and breast cancer .

Ryan Collins , Managing Director five companies that have made the list every year since Fortune started it 25 years ago . Johnson & Johnson , in announcing this on its website said : “ The recognition is particularly rewarding since much of the judging criteria aligns with values outlined in Our Credo , Johnson & Johnson ’ s guiding mission statement . For example : We are responsible to the communities in which we live and work and to the world community as well .”

That responsibility includes tackling some of the world ’ s most pressing unmet healthcare needs , such as a commitment to innovating treatments for deadly diseases , advancing health equity across the globe and improving environmental health — to name a few .

The company said it was honoured to be included among Fortune ’ s World ’ s Most Admired Companies once again .

at MassMutual Ventures , stated that with Qritive ’ s Pantheon platform streamlining and digitising pathology workflow , the platform would assist in supporting clinicians with various tools and spearheading the adoption of digital pathology to all four corners of the globe .

Tan Kaixin , General Manager at SEEDS Capital , also added that despite the use of AI in detecting cancer and the strain cancer prevalence has on healthcare systems , SEEDS Capital is more than happy to assist Qritive in their endeavours at commercialising its digital pathology software as it will help in closing the industry gap in Singapore and other Asian and Western markets , as well .

SUN Pharmaceutical Industries Limited and Concert Pharmaceuticals , Inc . recently announced that they had signed a legally binding agreement under which Sun Pharma will tender all of Concert ’ s outstanding shares in exchange for an upfront cash payment of US $ 8 per share of common stock , or US $ 576 million in equity value . Sun Pharma will do this by purchasing Concert ’ s outstanding shares through a tender offer . A non-tradeable contingent value right ( CVR ) granted to Concert stockholders entitles owners to an additional US $ 3.50 per share of common stock in cash , payable upon achievement of certain net sales milestones by deuruxolitinib within predetermined time frames , subject to the terms and conditions outlined in a contingent value rights agreement describing the CVRs . The board of directors of both corporations gave their approval to the deal .

Before the recent announcement , the upfront payment of US $ 8.00 per share of common stock in cash represented a premium of around 33 per cent to Concert ’ s 30-day volume weighted average price as of Jan 18 , 2023 .

Concert is a late-stage biotechnology company spearheading the application of deuterium in medicinal chemistry . Concert possesses an extensive patent portfolio , including its lead product candidate , deuruxolitinib – a treatment of Alopecia Areata – in late-stage development .

Concert has conducted evaluation tests of the efficacy and safety of deuruxolitinib in adult patients with Alopecia Areata during its THRIVE-AA Phase 3 clinical program . Additionally , two open-label , long-term extension studies are in progress in North America and Europe .