Hyundai to Acquire SoftBank’s Remaining Boston Dynamics Stake for $325 Million 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Qantas Unveils Wellness-Focused Nonstop Sydney-London Flights to Reduce Jet Lag 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
BHP Shares Fall as Jansen Potash Project Costs Surge 
US Raises Concerns Over Possible ASML EUV Machine Transfer to China 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Carro Expands Into Australia With Acquisition of Used-Car Platform CarPlace 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
Medicago Inc. has been developing a plant-based vaccine for COVID-19, and for this project, it has teamed up with some companies, including Philip Morris. The World Health Organization recently rejected its vaccine and with this, the Canadian biotechnology company decided to sever ties with the cigarette maker.
According to Bloomberg, Medicago submitted a request for the emergency-use listing of its plant-based COVID-19 vaccine but WHO did not grant its approval earlier this year. It was reported that the reason for the rejection was the biotech firm’s links with the tobacco industry.
Medicago made Covifenz which was dubbed as the first plant-based COVID vaccine in the world. It was jointly developed by Medicago and GlaxoSmithKline but the Canadian government contributed to the funding of its development by providing $173 million. The Canadian biotech firm is also 25% owned by Philip Morris.
However, despite the successful tests and approval from Health Canada, WHO gave the opposite decision; thus, it cannot be shipped anywhere else. This outcome pushed Medicago to drop Philip Morris from the COVID-19 vaccine collaboration.
The company’s move to eject the cigarette maker from the project was highly praised by civil society, and proceeded to plead with all governments to avoid working with tobacco companies in the future.
"Tobacco corporations, vaccines and governments do not mix well and we applaud the expulsion of Philip Morris from the Medicago collaboration," executive director of the non-profit organization Action on Smoking & Health (ASH) Canada, Les Hagen, said in a press release. "Tobacco industry products are responsible for over eight million deaths annually worldwide and tobacco corporations are desperately trying to whitewash their terrible public image by investing in the health sector.”
Hagen added that they are pleased that Canadian governments have decided to not get involved with a company in the tobacco business any longer. He also described the initial partnership as an “unethical and embarrassing collaboration with a tobacco giant."
Corporate Accountability's tobacco campaign director, Daniel Dorado, added, "Now that Philip Morris has been ejected from this collaboration, we urge Canadian governments to fully comply with the treaty by closing the barn door on any future tobacco industry partnerships."
