AstraZeneca nerve treatment gets EU approval, FirstGroup acquires Anderson Travel

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The FTSE 100 was expected to open higher on Monday, having closed down 0.32% on Friday at 8,358.25.

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Pharma titan AstraZeneca has announced that its Wainzua nerve damage treatment has been recommended for approval in the EU. Wainzua, otherwise known as eplontersen, has already been approved in the US for use in the treatment of adults with polyneuropathy – disease of the peripheral nerves – associated with hereditary transthyretin-mediated amyloidosis. If approved by the European Commission, Wainzua will be the only approved medicine in the EU for the condition that can be self-administered on a monthly basis.

FirstGroup announced the acquisition of Anderson Travel, a coach operator providing contracted school, private hire, mini coach and tour services in and around London, for an undisclosed sum. The operator has around 40 coaches of varying sizes with bases in central London and Heathrow. FirstGroup said the deal will extend First Bus' operational footprint and forms part of the group's strategy of targeted acquisitions to grow its share of the UK adjacent services market

Newspaper round-up

Almost half of the UK workforce lack access to workplace health support including winter flu vaccinations and checks for cardiovascular diseases, a report has found. The analysis, by the Royal Society for Public Health (RSPH), looked at data from the Department for Work and Pensions and the Department for Business, Energy and Industrial Strategy (DBEIS) and found that more than 10 million UK workers lack access to services including basic health checks, vaccinations, and smoking or weight loss support, provided by their employer. – Guardian

Bonuses for water company bosses in England and Wales rose to £9.1m this year despite record sewage discharges into rivers and seas. More than a third of that total comprised bonuses at Severn Trent, which was fined £2m this year for “reckless” pollution but lifted its bonuses to £3.36m. Thames Water almost doubled its payouts to executives, from £746,000 in 2021-22 to £1.3m in 2023-24, despite its CEO quitting halfway through the year. – Guardian

Sky has reported a £750m loss after the Qatar World Cup pushed up broadcasting costs and the company wrote down more than £1bn on its operations in Italy and Germany. The British broadcaster, which is owned by the US telecoms and media giant Comcast, doubled its operating losses as it shifted from its traditional satellite model to broadcasting channels over internet streaming. – Telegraph

Microsoft has signed a five-year product agreement with the British government as the Labour administration deepens its ties with the giant technology group, whose UK chief executive has just been appointed to lead an influential new industrial body. Microsoft and the Crown Commercial Service, the UK’s biggest public procurement organisation, have agreed a memorandum of understanding giving public sector organisations access to Microsoft’s portfolio of AI-powered products and services. – The Times

The hospitality industry has warned of a £900 million hit in the spring unless the chancellor reforms business rates in the budget. Bosses of some of the UK’s biggest pubs and high street venues said that without government action the tax would quadruple when business rates relief ends on March 31, costing the sector an additional £914 million. – The Times

US close

Stocks on Wall Street closed higher on Friday, with the Dow Jones Industrial Average up 0.09% at 43,275.91.

The S&P 500 added 0.4% to 5,864.67, and the Nasdaq Composite was ahead 0.63% at 18,489.55.