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Tuesday, September 22, 2026
Lead Story
JPMorgan sees India outbound M&A rising as firms move to secure supply chainsJPMorgan projects rising Indian outbound M&A to secure supply chains, exemplified by Sun Pharma's $11.75 billion Organon deal. Total M&A hit $100 billion in H1 2026, driven by needs for critical minerals and energy.
Halliburton signed memorandums of understanding with Eneva and WESCA to pursue oil and gas development opportunities in Venezuela. This move reflects growing investor interest following recent political developments and precedes major investments by competitors like Chevron.
Novo Nordisk announced its experimental drug CagriSema achieved 12.4% average weight loss in late-stage diabetes trials, outperforming Eli Lilly's tirzepatide at 9.1%. The combination therapy positions CagriSema as a potential successor to Wegovy.
The UK High Court allowed Glencore to pursue a $236 million claim against insolvent Prax Lindsey Oil Refinery for supplied crude oil. The dispute centers on alleged financial fraud by Prax's former CEO prior to the site's collapse and acquisition by Phillips 66.
ADARx Pharmaceuticals seeks a $1.74 billion valuation in its U.S. IPO, aiming to raise $371.9 million while AbbVie secures a 4.9% stake through a concurrent private placement ahead of its Nasdaq listing.
Novo Nordisk faces investor pressure to diversify beyond its blockbuster weight-loss drugs amid rising competition from Eli Lilly and impending semaglutide patent expiries. Analysts suggest acquisitions or pivoting to other therapeutic areas to secure long-term growth.
Trafigura plans to list its new tanker subsidiary, Volare Shipping Ltd., on Oslo’s Euronext exchange to raise $500 million amid soaring crude shipping rates. Record earnings of $1 million per day are driven by geopolitical disruptions affecting global oil transport flows.
Two JSW Group companies, JSW Energy and JSW Steel, plan to raise approximately $298 million through short-term bonds in the October-December quarter.
Toray Industries agreed to sell its 47.1% stake in Indonesian PET producer PT. Petnesia Resindo to PT. Pioneer Polyindo Complex. The deal aligns with Toray's strategy to enhance capital efficiency through portfolio optimization.
The Trump administration's oil agreement with Venezuela aims to significantly boost crude production through North American Blue Energy Partners. However, industry experts question the feasibility due to aging infrastructure and difficult extraction conditions in key fields.
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