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Lloyds Bank plc: 2023 Q3 Interim Management Statement


LONDON, Oct. 25, 2023 (GLOBE NEWSWIRE) --

Lloyds Bank plc

Q3 2023 Interim Management Statement

Member of the Lloyds Banking Group


Income statement

The Group's profit before tax for the first nine months of 2023 was £5,362 million, 20 per cent higher than the same period in 2022. Growth in net income and a lower impairment charge was partly offset by higher operating expenses. Profit after tax was £3,975 million (nine months to 30 September 2022: £3,346 million).

Total income for the first nine months of 2023 was £13,700 million, an increase of 13 per cent on the same period in 2022, primarily reflecting higher net interest income in the period. Net interest income of £10,432 million was up 10 per cent on the prior year, driven by a stronger net interest margin and higher average interest-earning banking assets.

Other income was £607 million higher at £3,268 million in the nine months to 30 September 2023 compared to £2,661 million in the same period in 2022. Net trading income was £143 million higher at £231 million in the nine months to 30 September 2023, in part reflecting the effects of the higher rate environment on the Group's derivatives. Other operating income increased to £2,029 million compared to £1,602 million in the nine months to 30 September 2022 including growth in Lex Autolease, the acquisition of Tusker and increased recharges to fellow Lloyds Banking Group undertakings reflecting higher strategic investment and inflationary impacts. Net fee and commission income was £37 million higher at £1,008 million as a result of higher credit and debit card fee income.

Total operating expenses of £7,457 million were 12 per cent higher than in the prior year, with higher planned strategic investment, new business costs, a higher operating lease depreciation charge and inflationary impacts, partially mitigated by continued cost efficiency.

The Group recognised remediation costs of £127 million in the first nine months of 2023, largely in relation to pre-existing programmes (nine months to 30 September 2022: £67 million). There have been no further charges relating to HBOS Reading and the provision held continues to reflect the Group's best estimate of its full liability, albeit uncertainties remain. Following the FCA's Motor Market review, the Group continues to receive complaints and claims and is engaging with the Financial Ombudsman Service in respect of past motor commission arrangements. Discussions are continuing, with the remediation and financial impact, if any, remaining uncertain.

The impairment charge was £881 million compared with a £1,010 million charge in the nine months to 30 September 2022. The decrease reflects modest revisions to the Group's economic outlook compared to the deterioration in economic outlook captured last year, particularly in the third quarter of 2022 which recognised the elevated risks from a higher inflation and interest rate environment. This decrease was partly offset by higher charges in the nine months to 30 September 2023 reflecting a modest deterioration from a low base, primarily in legacy variable rate UK mortgage portfolios and higher charges on existing Stage 3 clients in Commercial Banking. It also includes the impact of higher discount rates on future recoveries, as well as the expected credit loss (ECL) allowance build from Stage 1 loans rolling forward into a deteriorating economic outlook. Asset quality remains resilient with credit performance across portfolios largely stable in the quarter and remaining similar or favourable to pre-pandemic experience.

Balance sheet

Total assets were £2,899 million lower at £614,029 million at 30 September 2023 compared to £616,928 million at 31 December 2022. Cash and balances at central banks decreased by £6,451 million to £65,554 million reflecting decreased liquidity holdings. Financial assets at amortised cost were £1,880 million lower at £489,516 million compared to £491,396 million at 31 December 2022 with increases in debt securities of £2,635 million and loans and advances to banks of £1,050 million, more than offset by a reduction in reverse repurchase agreements of £2,863 million and loans and advances to customers of £2,755 million to £432,872 million. The reduction in loans and advances to customers was primarily as a result of the exit of £2.5 billion of legacy Retail mortgage loans (including £2.1 billion in the closed mortgage book) during the first quarter. Financial assets at fair value through other comprehensive income increased £2,170 million as a result of an increase in holdings of government bonds. Other assets increased £2,757 million, reflecting higher settlement balances and higher operating lease assets following the Tusker acquisition.


Total liabilities were £2,486 million lower at £575,383 million compared to £577,869 million at 31 December 2022. Customer deposits at £439,055 million have decreased by £7,117 million (2.0 per cent) since the end of 2022. This includes decreases in Retail current account balances of £9.4 billion as a result of tax payments, higher spend and a more competitive savings market, including the Group's own savings offers. In Retail savings and Wealth, balances have increased by a combined £5.2 billion, partly from transfers from the Group's current account customer base. Commercial Banking deposits decreased £2.2 billion during the first nine months of 2023. In addition, there was a reduction in repurchase agreements at amortised cost of £7,000 million. Partly offsetting these reductions, debt securities in issue increased by £8,880 million following issuances of commercial paper, and other liabilities increased £1,904 million as a result of higher settlement balances and lease liabilities.

Total equity decreased from £39,059 million at 31 December 2022 to £38,646 million at 30 September 2023, as a result of profit for the period and issuance of other equity instruments, being more than offset by dividends paid in the period of £4.1 billion and a negative market movement impacting the cash flow hedge reserve and movements in the pensions accounting surplus.


The Group's common equity tier 1 (CET1) capital ratio has reduced to 14.3 per cent at 30 September 2023 (31 December 2022: 14.8 per cent). Profit for the period was partially offset by risk-weighted asset increases (including CRD IV model changes), the full year payment of fixed pension deficit contributions made to the Group's three main defined benefit pension scheme and phased reductions in IFRS 9 transitional relief. The capital ratio reduction also reflects the impact of the interim ordinary dividend paid in September, the foreseeable ordinary dividend accrual and the acquisition of Tusker.

Risk-weighted assets have increased by £5.4 billion during the first nine months of the year to £180.3 billion at 30 September 2023 (31 December 2022: £174.9 billion). This includes an adjustment for part of the anticipated impact of CRD IV model updates. Excluding this, lending growth, a modest uplift from credit and model calibrations and other movements were partly offset by capital efficient securitisation activity and other optimisation activity. The CRD IV model updates reflect a further iteration of model development. The models remain subject to further development and final approval by the PRA. On that basis final impacts remain uncertain and further increases are likely to be required.

The Group's total capital ratio remained flat at 20.5 per cent (31 December 2022: 20.5 per cent) and the UK leverage ratio increased to 5.5 per cent (31 December 2022: 5.4 per cent).


30 Sep
30 Sep
Net interest income       10,4329,458
Other income         3,2682,661
Total income       13,70012,119
Operating expenses        (7,457)(6,629)
Impairment           (881)(1,010)
Profit before tax         5,3624,480
Tax expense        (1,387)(1,134)
Profit for the period         3,9753,346
Profit attributable to ordinary shareholders         3,7083,143
Profit attributable to other equity holders            249177
Profit attributable to equity holders         3,9573,320
Profit attributable to non-controlling interests              1826
Profit for the period         3,9753,346

At 30
At 31
Dec 2022
Cash and balances at central banks       65,55472,005
Financial assets at fair value through profit or loss         1,5731,371
Derivative financial instruments         4,1603,857
Loans and advances to banks         9,4138,363
Loans and advances to customers      432,872435,627
Reverse repurchase agreements       36,39639,259
Debt securities         9,9667,331
Due from fellow Lloyds Banking Group undertakings            869816
Financial assets at amortised cost      489,516491,396
Financial assets at fair value through other comprehensive income       25,01622,846
Other assets       28,21025,453
Total assets      614,029616,928
Deposits from banks         4,4644,658
Customer deposits      439,055446,172
Repurchase agreements at amortised cost       41,59048,590
Due to fellow Lloyds Banking Group undertakings         3,6262,539
Financial liabilities at fair value through profit or loss         4,8275,159
Derivative financial instruments         6,0675,891
Debt securities in issue       57,93649,056
Other liabilities       11,115 9,211
Subordinated liabilities         6,7036,593
Total liabilities      575,383577,869
Share capital         1,5741,574
Share premium account            600600
Other reserves            693743
Retained profits       30,69931,792
Ordinary shareholders' equity       33,56634,709
Other equity instruments         5,0184,268
Non-controlling interests              6282
Total equity       38,64639,059
Total equity and liabilities      614,029616,928


1.   Basis of presentation

This release covers the results of Lloyds Bank plc together with its subsidiaries (the Group) for the nine months ended 30 September 2023.

Accounting policies

The accounting policies are consistent with those applied by the Group in its 2022 Annual Report and Accounts

2.   Capital

The Group's Q3 2023 Interim Pillar 3 Disclosures can be found at

3.   UK economic assumptions

Base case and MES economic assumptions

The Group's base case scenario is for slow gross domestic product growth alongside a gradual rise in the unemployment rate. Past increases in UK Bank Rate in response to persistent inflationary pressures result in further declines in residential and commercial property prices. Risks around this base case economic view lie in both directions and are largely captured by the range of alternative economic scenarios.

The Group has taken into account the latest available information at the reporting date in defining its base case scenario and generating alternative economic scenarios. The scenarios include forecasts for key variables in the third quarter of 2023. Actuals for this period, or restatements of past data, may have since emerged prior to publication.

The Group's approach to generating alternative economic scenarios is set out in detail in note 16 to the financial statements for the year ended 31 December 2022. For September 2023, the Group continues to judge it appropriate to include a non-modelled severe downside scenario for Group ECL calculations. This adjusted scenario is considered to better reflect the risks around the Group's base case view in an economic environment where past supply shocks continue to unwind slowly, implying the prospect of more persistent inflation and corresponding need for tighter monetary policy.

Base case scenario by quarter

Key quarterly assumptions made by the Group in the base case scenario are shown below. Gross domestic product is presented quarter-on-quarter. House price growth, commercial real estate price growth and CPI inflation are presented year-on-year, i.e. from the equivalent quarter in the previous year. Unemployment rate and UK Bank Rate are presented as at the end of each quarter.

At 30 September 2023First
Gross domestic product          0.1          0.2          0.1          0.1          0.1          0.1          0.1          0.2
Unemployment rate          3.9          4.2          4.5          4.7          4.8          4.9          5.0          5.0
House price growth          1.6        (2.6)        (5.8)        (4.7)        (8.5)        (8.7)        (5.7)        (2.4)
Commercial real estate price growth      (18.8)      (21.2)      (19.7)        (4.2)        (1.2)        (2.2)          1.3          1.0
UK Bank Rate        4.25        5.00        5.25        5.25        5.25        5.25        5.25        5.00
CPI inflation        10.2          8.4          6.7          5.2          4.7          3.7          4.1          3.9


3.   UK economic assumptions (continued)

Scenarios by year

Key annual assumptions made by the Group are shown below. Gross domestic product and Consumer Price Index (CPI) inflation are presented as an annual change, house price growth and commercial real estate price growth are presented as the growth in the respective indices within the period. Unemployment rate and UK Bank Rate are averages for the period.

At 30 September 20232023






Gross domestic product               0.8               2.0               1.5               1.8               2.1               1.6
Unemployment rate               3.9               2.9               2.8               3.1               3.1               3.1
House price growth             (3.4)               1.4               9.5               9.7               7.6               4.8
Commercial real estate price growth             (0.4)               9.5               3.2               2.3               2.0               3.3
UK Bank Rate             5.06             6.61             6.27             5.76             5.59             5.86
CPI inflation               7.6               4.2               3.4               3.2               3.6               4.4
Base case
Gross domestic product               0.4               0.5               1.0               1.7               2.1               1.2
Unemployment rate               4.3               4.9               5.1               5.1               5.0               4.9
House price growth             (4.7)             (2.4)               2.3               4.0               4.1               0.6
Commercial real estate price growth             (4.2)               1.0               0.5               1.2               1.8               0.0
UK Bank Rate             4.94             5.19             4.38             3.75             3.50             4.35
CPI inflation               7.6               4.1               2.9               2.1               2.3               3.8
Gross domestic product               0.0             (1.4)               0.5               1.7               2.2               0.6
Unemployment rate               4.8               7.1               7.5               7.4               7.0               6.7
House price growth             (5.7)             (5.6)             (4.5)             (2.0)               0.2             (3.6)
Commercial real estate price growth             (7.7)             (7.7)             (3.0)             (1.1)               0.3             (3.9)
UK Bank Rate             4.83             3.69             2.34             1.61             1.27             2.75
CPI inflation               7.6               4.0               2.4               1.1               0.9               3.2
Severe downside
Gross domestic product             (0.4)             (3.1)               0.1               1.5               2.1               0.0
Unemployment rate               5.4               9.8             10.5             10.1               9.5               9.1
House price growth             (7.4)           (10.1)           (12.9)             (9.4)             (5.4)             (9.1)
Commercial real estate price growth           (12.9)           (19.3)             (9.4)             (5.6)             (2.3)           (10.1)
UK Bank Rate - modelled             4.66             1.87             0.42             0.13             0.05             1.42
UK Bank Rate - adjusted1             5.44             7.00             4.94             3.88             3.50             4.95
CPI inflation - modelled               7.6               3.8               1.6             (0.3)             (0.9)               2.4
CPI inflation - adjusted1               8.1               6.3               5.4               4.2               3.9               5.6
Gross domestic product               0.4               0.0               0.9               1.7               2.1               1.0
Unemployment rate               4.4               5.5               5.7               5.7               5.5               5.3
House price growth             (4.9)             (3.0)               0.9               2.6               3.0             (0.3)
Commercial real estate price growth             (5.0)             (1.1)             (0.7)               0.1               1.0             (1.2)
UK Bank Rate - modelled             4.91             4.83             3.94             3.35             3.11             4.03
UK Bank Rate - adjusted1             4.99             5.35             4.39             3.72             3.46             4.38
CPI inflation - modelled               7.6               4.1               2.8               1.9               2.0               3.7
CPI inflation - adjusted1               7.7               4.3               3.2               2.3               2.4               4.0

1  The adjustment to UK Bank Rate and CPI inflation in the severe downside is considered to better reflect the risks around the Group's base case view in an economic environment where supply shocks are the principal concern.


4.   Loans and advances to customers and expected credit loss allowance

At 30 September 2023Stage 1
Stage 2
Stage 3
Stage 2
as % of
Stage 3
as % of
Loans and advances to customers
UK mortgages252,95442,6344,0348,079307,70113.91.3
Credit cards12,1543,277308-15,73920.82.0
Loans and overdrafts9,1721,729240-11,14115.52.2
UK Motor Finance12,9852,246113-15,34414.60.7
Small and Medium Businesses28,5434,7051,475-34,72313.64.2
Corporate and Institutional Banking34,0943,7841,735-39,6139.64.4
Commercial Banking62,6378,4893,210-74,33611.44.3
Total gross lending362,55558,9008,0518,079437,58513.51.8
ECL allowance on drawn balances(830)(1,646)(1,964)(273)(4,713)
Net balance sheet carrying value361,72557,2546,0877,806432,872
Customer related ECL allowance (drawn and undrawn)
UK mortgages1475293942731,343
Credit cards202428130-760
Loans and overdrafts211332131-674
UK Motor Finance21197757-253
Small and Medium Businesses131232180-543
Corporate and Institutional Banking1391951,026-1,360
Commercial Banking2704271,206-1,903
Customer related ECL allowance (drawn and undrawn) as a percentage of loans and advances to customers3
UK mortgages0.
Credit cards1.713.152.8-4.8
Loans and overdrafts2.319.267.2-6.1
UK Motor Finance0.93.450.4-1.6
Small and Medium Businesses0.54.915.6-1.6
Corporate and Institutional Banking0.45.259.1-3.4
Commercial Banking0.45.041.7-2.6

1  Contains centralised fair value hedge accounting adjustments.

2  UK Motor Finance for Stages 1 and 2 include £116 million relating to provisions against residual values of vehicles subject to finance leasing agreements. These provisions are included within the calculation of coverage ratios.

3  Total and Stage 3 ECL allowances as a percentage of drawn balances exclude loans in recoveries in Credit cards of £62 million, Loans and overdrafts of £45 million and Small and Medium Businesses of £321 million.


4.   Loans and advances to customers and expected credit loss allowance (continued)

At 31 December 2022Stage 1
Stage 2
Stage 3
Stage 2
as % of
Stage 3
as % of
Loans and advances to customers
UK mortgages257,51741,7833,4169,622312,33813.41.1
Credit cards11,4163,287289-14,99221.91.9
Loans and overdrafts8,3571,713247-10,31716.62.4
UK Motor Finance12,1742,245154-14,57315.41.1
Small and Medium Businesses30,7815,6541,760-38,19514.84.6
Corporate and Institutional Banking31,7294,7781,588-38,09512.54.2
Commercial Banking62,51010,4323,348-76,29013.74.4
Total gross lending362,76660,1037,6119,622440,10213.71.7
ECL allowance on drawn balances(678)(1,792)(1,752)(253)(4,475)
Net balance sheet carrying value362,08858,3115,8599,369435,627
Customer related ECL allowance (drawn and undrawn)
UK mortgages925533112531,209
Credit cards173477113-763
Loans and overdrafts185367126-678
UK Motor Finance2957681-252
Small and Medium Businesses129271149-549
Corporate and Institutional Banking110208924-1,242
Commercial Banking2394791,073-1,791
Customer related ECL allowance (drawn and undrawn) as a percentage of loans and advances to customers3
UK mortgages-
Credit cards1.514.550.9-5.1
Loans and overdrafts2.221.464.6-6.6
UK Motor Finance0.83.452.6-1.7
Small and Medium Businesses0.44.812.9-1.5
Corporate and Institutional Banking0.34.458.2-3.3
Commercial Banking0.44.639.2-2.4

1  Contains centralised fair value hedge accounting adjustments.

2  UK Motor Finance for Stages 1 and 2 include £92 million relating to provisions against residual values of vehicles subject to finance leasing agreements. These provisions are included within the calculation of coverage ratios.

3  Total and Stage 3 ECL allowances as a percentage of drawn balances exclude loans in recoveries in Credit cards of £67 million, Loans and overdrafts of £52 million, Small and Medium Businesses of £607 million and Corporate and Institutional Banking of £1 million.


This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group's or its directors' and/or management's beliefs and expectations, are forward looking statements. Words such as, without limitation, 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate', 'probability', 'goal', 'objective', 'deliver', 'endeavour', 'prospects', 'optimistic' and similar expressions or variations on these expressions are intended to identify forward looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group's future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group's future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group's ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact; expectations about the impact of COVID-19; and statements of assumptions underlying such statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward looking statements include, but are not limited to: general economic and business conditions in the UK and internationally; political instability including as a result of any UK general election and any further possible referendum on Scottish independence; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the tensions between China and Taiwan; market related risks, trends and developments; exposure to counterparty risk; instability in the global financial markets, including within the Eurozone, and as a result of the exit by the UK from the European Union (EU) and the effects of the EU-UK Trade and Cooperation Agreement; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group's or Lloyds Banking Group plc's credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group's securities; tightening of monetary policy in jurisdictions in which the Lloyds Bank Group operates; natural pandemic (including but not limited to the COVID-19 pandemic) and other disasters; risks concerning borrower and counterparty credit quality; longevity risks affecting defined benefit pension schemes; risks related to the uncertainty surrounding the integrity and continued existence of reference rates; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group's compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions), including the Lloyds Bank Group's or the Lloyds Banking Group's ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group's financial statements. A number of these influences and factors are beyond the Lloyds Bank Group's control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC's website at, for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today's date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.


For further information please contact:


Douglas Radcliffe

Group Investor Relations Director

020 7356 1571

Edward Sands

Director of Investor Relations

020 7356 1585

Nora Thoden

Director of Investor Relations - ESG

020 7356 2334


Grant Ringshaw

External Relations Director

020 7356 2362

Matt Smith

Head of Media Relations

07788 352 487

Copies of this News Release may be obtained from:
Investor Relations, Lloyds Banking Group plc, 25 Gresham Street, London EC2V 7HN
The statement can also be found on the Group's website -

Registered office: Lloyds Bank plc, 25 Gresham Street, London EC2V 7HN
Registered in England No. 2065

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December 9, 2023 Announcement no. 21 Managers’ transactions COPENHAGEN, DENMARK and BOSTON, MA, December 9, 2023, (GLOBE NEWSWIRE) – BioPorto A/S (BioPorto or the Company) (CPH:BIOPOR), has received notice pursuant to article 19 of Regulation (EU) no. 596/2014 of the below transaction related to shares in BioPorto made by persons discharging managerial responsibilities in BioPorto and/or persons closely related with them. 1. Details of the person discharging managerial responsibilities/person closely associated a) Name Singer Asefzadeh Family Holding Trust 2. Reason for the notification a) Position/status Closely associated person to Michael S. Singer, member of the Board of Directors of BioPorto A/S b) Initial notification/amendment Initial notification 3. Details of the issuer a) Name BioPorto A/S b) LEI 5299004SWFL5JAN4W830 4. Details of the transaction(s) a) Description of the financial instrument type of instrument and Identification code Shares, ISIN code DK0011048619 b) Nature o

New Pivotal Data for Bispecific Antibody Epcoritamab (DuoBody® CD3xCD20) Demonstrates High Overall and Complete Responses in Patients with Hard-To-Treat Relapsed/Refractory Follicular Lymphoma (FL)9.12.2023 18:00:00 CET | Press release

Media Release COPENHAGEN, Denmark; December 9, 2023 Data from the pivotal phase 1/2 EPCORE™ NHL-1 study showed 82 percent overall response rate (ORR), 63 percent complete response (CR) and 67 percent minimal residual disease (MRD) negativity in patients with relapsed/refractory (R/R) follicular lymphoma (FL) treated with subcutaneous epcoritamab Results presented at the 65th American Society of Hematology (ASH) Annual Meeting and Exposition include data from an optimized step-up dosing schedule for FL patients showing meaningful reduction in risk and severity of cytokine release syndrome (CRS) Follicular lymphoma is the second most common form of non-Hodgkin’s lymphoma, is considered incurable and can be difficult to treat in the R/R setting Genmab A/S (Nasdaq: GMAB) and AbbVie (NYSE: ABBV) todayannounced new data from the ongoing phase 1/2 EPCORE™ NHL-1 clinical trial investigating epcoritamab (DuoBody® CD3xCD20), a T-cell engaging bispecific antibody administered subcutaneously, demo

Galapagos presents new encouraging data at ASH 2023 from ongoing CD19 CAR-T studies with GLPG5201 and GLPG51019.12.2023 18:00:00 CET | Press release

Additional safety and efficacy data further support potential of innovative, decentralized approach to CAR-T manufacturing and transformational impact on patients with severe hematologic cancersTwo poster presentations include recent data updates and additional data not included in the ASH abstracts Galapagos to host a Key Opinion Leader (KOL) event with live webcast on Sunday, 10 December 2023 at 11:00 am PT/20:00 CET Mechelen, Belgium; 9 December 2023, 18:00 CET; Galapagos NV (Euronext & NASDAQ: GLPG) topresent additional encouraging clinical data from the ongoing Phase 1/2 CD19 CAR-T studies, EUPLAGIA-1 with GLPG5201 and ATALANTA-1 with GLPG5101, in patients with relapsed/refractory chronic lymphocytic leukemia (rrCLL), with or without Richter transformation, and non-Hodgkin lymphoma (rrNHL), during two poster sessions at the 65th American Society of Hematology (ASH) Annual Meeting taking place in San Diego, from 9-12 December. “We are very pleased to share promising new data from o

New data reinforce the benefit of early preventative treatment with Roche’s Hemlibra for babies with severe haemophilia A9.12.2023 17:30:00 CET | Press release

Phase III HAVEN 7 primary data presented at ASH 2023 provide additional confidence in the favourable efficacy and safety profile of subcutaneous Hemlibra given soon after birth 1At nearly two years median follow-up in the descriptive, single-arm study, no babies experienced spontaneous bleeds requiring treatment, and all treated bleeds were as a result of trauma 1Safety results were consistent with previous studies of Hemlibra, with no new safety signals observed 1The HAVEN 7 study was developed in collaboration with the haemophilia A community, to generate additional evidence for the prophylactic treatment of infants with haemophilia A Basel, 09 December 2023 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that the primary analysis of the Phase III HAVEN 7 study reinforced the efficacy and safety of Hemlibra® (emicizumab) in previously untreated or minimally treated infants with severe haemophilia A without factor VIII inhibitors. Results showed that Hemlibra achieved meaningful

Bulletin from Annual General Meeting in SkiStar AB9.12.2023 16:00:00 CET | Press release

At SkiStar AB (publ)’s annual general meeting, held in Sälen on 9 December 2023, the following decisions were made. A dividend of SEK 2.60 per share was adopted. Record day 12 December 2023.Lena Apler, Fredrik Paulsson, Gunilla Rudebjer, Anders Sundström, Anders Svensson and Vegard Søraunet were re-elected to the board and Carina Åkerström was elected as new board member.Anders Sundström was re-elected chairman of the board.Board fees, including committee fees, were raised to a total of SEK 2,890,000 (2022: SEK 2,810,000). The fees shall be distributed as follows: SEK 670,000 (650,000) to the chairman of the board and SEK 310,000 (300,000) each to the other non-executive directors. Audit committee members will receive total fees of SEK 240,000 (unchanged), distributed as follows: SEK 120,000 to the committee chairman and SEK 60,000 to each of the other two members. Remuneration committee members will receive total fees of SEK 120,000 (unchanged), distributed as follows: SEK 60,000 to t