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Former Vice President Kamala Harris detailed her running mate Tim Walz’s debate performance in her new book and recounted a showdown with then-Sen. JD Vance, which ultimately left her disappointed. 

Harris writes in her new book, ‘107 Days,’ that she needed the Minnesota governor to be the ‘closer’ at the Oct. 1, 2024, debate given that she was not going to have another opportunity to debate Trump. But during the debate, she turned to her husband in frustration.

‘When Tim fell for it and started nodding and smiling at J.D.’s fake bipartisanship, I moaned to Doug, ‘What is happening?” Harris wrote, explaining how she believed Walz was duped by Vance’s ‘mild-mannered aw-shucks’ attitude. 

‘I told the television screen: ‘You’re not there to make friends with the guy who is attacking your running mate.’’

Harris, who lamented that there was ‘more riding on Tim’s debate than there should have been,’ said that being the ‘closer’ and debating on such a large scale was ‘not a comfortable role’ for Walz. 

‘He had fretted from the outset that he wasn’t a good debater,’ Harris wrote. ‘I’d discounted his concerns. He was so quick and pithy in front of the crowds at our rallies, I thought he’d bring those qualities to the podium.’

Harris referred to Vance as a ‘shape-shifter’ and said he ‘complained petulantly,’ along with more critiques of Walz. 

‘Tim fell into a pattern of defending his record as a governor,’ Harris wrote. ‘Then he fumbled his answer when the moderator, predictably, questioned why he had claimed to be in Hong Kong during the democracy protests in Tiananmen Square.’

‘Tim had been on his way to teach in China that summer but hadn’t yet left the United States on the date of the massacre. Instead of simply stating that he’d gotten his dates mixed up, but that being in China during a period of human rights oppression had profoundly influenced him, he talked about biking in Nebraska.’

Harris mentioned a ‘Saturday Night Live’ skit after the debate that depicted Harris and her husband Doug watching the debate and spitting out wine in shock. Harris wrote that while she did not actually spit out wine while watching, ‘it was otherwise uncanny in its portrait of our evening.’

‘Tim felt bad that he hadn’t done better,’ Harris wrote. 

‘I reassured him that the election would not be won or lost on account of that debate, and in fact it had a negligible effect on our polling. In choosing Tim, I thought that as a second-term governor and twelve-year congressman he would know what he was getting into. In hindsight, how could anyone?’

Harris wrote that she encouraged Walz to be ‘resilient’ during the campaign and suggested that he struggled with the ‘unfair’ attacks on his record and that it took a toll on his family. 

‘For the candidate, the family that is your source of strength can become your weakness in a presidential campaign,’ Harris wrote, adding that Tim was ‘outraged by the unfairness.’

‘When I was a newly elected DA, an elderly gentleman in Atlanta pulled me aside with a bit of advice: ‘Baby, you be sure and don’t make it look too easy,’’ Harris wrote. ‘He knew it was not. And the higher you rise in the political food chain, the harder it gets. This is not a genteel profession. You must be ready to brawl.’

Harris also detailed in her book the decision process she used to ultimately choose Walz over Pennsylvania Gov. Josh Shapiro, Arizona Sen. Mark Kelly and former Transportation Secretary Pete Buttigieg.

Harris made a point of noting that her senior staff ‘strongly favored Tim’ and that her godson, along with her sister and brother-in-law, also preferred Walz.

‘Doug and I went back and forth,’ Harris wrote. ‘He had known Josh longer and leaned that way. It was always going to have to be my decision. I told my staff and family that I didn’t want any more input, and I went to do something practical: I made a tasty rub and seasoned a pork roast. By the time I went to bed, I’d decided on Walz.’

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House Minority Leader Hakeem Jeffries, D-N.Y., criticized recent remarks by President Donald Trump as ‘unhinged’ during a press conference on Tuesday, as the federal government lurches toward a potential shutdown at the end of this month.

Jeffries held a media availability in his Brooklyn, New York district after Trump canceled a planned meeting with congressional Democrat leaders on the issue of government funding.

Trump accused Democrats of making ‘unserious and ridiculous demands’ in their push for a compromise deal to avert a shutdown.

‘The statement that Donald Trump issued today was unhinged, and it related to issues that have nothing to do with the spending bill that is before the Congress, and the need to try to avoid a government shutdown,’ Jeffries said in response.

He said at an earlier point, ‘Leader Schumer and I are ready to meet with anyone, anytime, at any place, to discuss the issues that matter to the American people and avoid a painful, Republican-caused government shutdown.’

‘Democrats do not support the partisan Republican spending bill because it continues to gut the healthcare of the American people,’ he added.

Schumer held his own press conference later in the afternoon, where he charged ‘Today seems to be tantrum day for Donald Trump.’ 

‘Mr. President, do your job,’ he said. ‘Stop ranting, stop these long diatribes that mean nothing to anyone. Get people in a room and let’s hammer out a deal.’

The House passed a short-term extension of fiscal year (FY) 2025’s government funding levels intended to keep federal agencies running through Nov. 21, in order to give Senate and House appropriators more time to reach a deal on FY 2026.

If not passed by the Senate by the end of Sept. 30, Congress risks plunging the government into a partial shutdown.

Democrats, infuriated by being sidelined in discussions on the bill, have been pushing for the inclusion of enhanced Affordable Care Act (ACA) subsidies that are set to expire at the end of 2025 without congressional action.

During his press conference, Jeffries also appeared to reference Republicans’ ‘One Big, Beautiful Bill,’ conservative policy legislation that imposed new restrictions and work requirements on Medicaid coverage for certain able-bodied Americans.

‘Our top priority is to make sure that we cancel the cuts, lower the costs and save healthcare for the American people. That’s eight words – not difficult for Donald Trump to process. Cancel the cuts, lower the cost, save healthcare. Eight words,’ Jeffries said.

‘And we’ve been very clear that if Republicans want to go it alone, then go it alone and continue to do damage to the American people. But as House Democrats, partnered in lockstep with [Senate Minority Leader Chuck Schumer] and Senate Democrats, we are not going to participate in the Republican effort to continue to gut the healthcare of the American people. That’s immoral, and we want no part of it.’

Jeffries and Schumer were set to meet with Trump on Thursday to discuss a path forward to avert a partial government shutdown.

But Trump nixed the meeting in a lengthy post on his social media platform Truth Social, where he blasted the duo for pushing ‘radical Left policies that nobody voted for.’ 

‘I have decided that no meeting with their Congressional Leaders could possibly be productive,’ Trump said. 

‘They must do their job! Otherwise, it will just be another long and brutal slog through their radicalized quicksand. To the Leaders of the Democrat Party, the ball is in your court. I look forward to meeting with you when you become realistic about the things that our Country stands for. DO THE RIGHT THING!’ the president continued.

The Senate already voted against moving forward with the House GOP stopgap bill on Friday.

With 60 votes needed to proceed on the measure, at least some Democratic support will be needed to avert a shutdown.

Fox News Digital reached out to the White House for a response to Jeffries’ comments.

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French President Emmanuel Macron’s push for Palestinian statehood at the United Nations clashed sharply with Donald Trump’s message — but the two leaders’ rivalry also played out in the streets of New York in an unexpected way.

At the UN General Assembly, Macron formally announced France’s recognition of a Palestinian state, insisting the move was ‘essential to peace.’ Trump, speaking today, blasted the recognition as a ‘reward’ for Hamas’s ‘horrible atrocities, including October 7,’ that would only prolong conflict.

But away from the UN stage, the two presidents collided in an unusual moment when Macron was stopped at a crosswalk by New York police as Trump’s motorcade rolled through Manhattan. ‘Sorry President, everything is frozen, the motorcade moving now,’ one officer told him. Macron, visibly frustrated, replied, ‘If you don’t see it, let me cross.’

With the road blocked, Macron picked up his phone and called President Trump directly. According to a video circulating online, the French president said: ‘Guess what, I’m waiting in the street because everything is frozen for you.’ Only after the call was the road eventually cleared.

Macron then walked through the city for nearly half an hour, trailed by passersby who stopped him for selfies. One person planted a kiss on his head. Macron laughed off the encounter, saying, ‘It’s just a kiss, makes no harm.’

France’s embassy in the U.S official X account leaned into the moment with humor: ‘It’s a good thing our presidents have each other on speed dial… If you’ve ever had to walk through NYC during UNGA, this is 110% relatable content.’

This post appeared first on FOX NEWS

A conservative climate policy group is urging House Judiciary Committee Chairman Rep. Jim Jordan, R-Ohio, to subpoena records from the Environmental Law Institute’s Climate Judiciary Project as part of an ongoing probe into the influence of climate advocacy groups in climate policy litigation. 

Jason Isaac, CEO of the American Energy Institute, a conservative pro-U.S. energy production policy group, wrote a letter to Jordan last week pointing to evidence from a Sept. 12 Multnomah County v. ExxonMobil et al. court filing that he says suggests ‘covert coordination and judicial manipulation.’

‘This new evidence raises serious red flags about the credibility of both the so-called science being used in climate lawsuits and the judicial training programs behind the bench,’ Isaac told Fox News Digital. 

According to Isaac’s letter to Jordan, the court filing submitted by Chevron Corporation earlier this month reveals that ‘one of the plaintiffs’ lead attorneys, Roger Worthington, had undisclosed involvement in at least two so-called scientific studies that the county is presenting as independent, peer-reviewed evidence.’

One of those studies ‘acknowledged funding from the Climate Judiciary Project in a draft version, but that disclosure was inexplicably removed from the final publication,’ Isaac said in the letter. 

Earlier drafts of the study, labeled ‘DO NOT DISTRIBUTE,’ were found on Worthington’s law firm website, the letter revealed. 

According to the American Energy Institute, the study seeks to ‘attribute global economic losses from climate change to specific oil companies.’ The website also included a ‘pre-publication draft of a CJP judicial training module’ with internal editorial comments, according to the letter. 

Isaac told Jordan this mark-up raises ‘serious questions about how and why a plaintiffs’ attorney had early access to, and possibly editorial influence over, materials being presented to state and federal judges as ‘neutral’ science.’

Another module was designed to ‘educate’ participant judges on how to apply ‘attribution science’ in the courtroom, according to Isaac. 

Attribution science seeks to measure how much human-caused climate change is responsible for certain extreme weather events, per Science News Explores’ definition. 

‘The Environmental Law Institute has claimed neutrality, yet documents suggest coordination with plaintiffs’ counsel who stand to profit from the outcomes,’ Isaac told Fox News Digital. ‘If the same lawyers suing energy companies are shaping the studies and educating the judges, that is not justice; it is manipulation. Congress is right to dig deeper, and the American Energy Institute is proud to support that effort.’ 

Isaac is requesting that Jordan formally request ‘communications, draft documents, funding agreements, and internal editorial notes related to the scientific studies and CJP curriculum.’

While commending Jordan’s leadership, Isaac said, ‘Judges and the public deserve to know whether the courtroom is being quietly shaped by coordinated climate advocacy posing as neutral expertise.’

Isaac said the Environmental Law Institute and Worthington should answer several questions about their involvement in the studies, including the ‘judicial education module on attribution science.’

‘Does ELI regularly seek input from plaintiffs’ attorneys on its judicial education modules?’ Isaac questioned. 

‘ELI did not fund the Nature study, and the Climate Judiciary Project has not coordinated with Mr. Worthington,’ Environmental Law Institute spokesman Nick Collins told Fox News Digital in a statement. 

‘CJP does not participate in or provide support for litigation,’ Collins added. ‘Rather, CJP provides evidence-based continuing education to judges about climate science and how it arises in the law. Our curriculum is fact-based and science-first, grounded in consensus reports and developed with a robust peer review process that meets the highest scholarly standards.’

When 23 Republican state attorneys general sent a letter last month to Environmental Protection Agency chief Lee Zeldin calling on him to cancel funding to the Environmental Law Institute, Collins told Fox News Digital that the Climate Judiciary Project’s projects are far from ‘radical.’

‘The programs in which the Climate Judiciary Project (CJP) participates are no different than other judicial education programs, providing evidence-based training on legal and scientific topics that judges voluntarily choose to attend,’ Collins said.

Fox News Digital has reached out to Jordan and Worthington for comment on the letter but did not immediately hear back. 

Fox News Digital’s Emma Colton contributed to this story. 

This post appeared first on FOX NEWS

President Trump just fired a top federal prosecutor because he failed to bring charges against two despised opponents, New York Attorney General Letitia James and ex-FBI chief James Comey.

The ouster of Erik Siebert, U.S. attorney for Virginia’s Eastern District — and Trump’s own appointee — came after he couldn’t find sufficient evidence to charge James with mortgage fraud.

The president blamed the firing on Siebert having been put forward by two Democratic senators – hardly a secret – under the archaic ‘blue slip’ requirement that should be abolished.

‘Yeah, I want him out,’ Trump said after ABC broke the story. Tish James is ‘very guilty of something.’

What’s more, ‘he didn’t quit, I fired him!’

It’s a blip of a story, compared to Trump and his team naming a special prosecutor to again investigate Russiagate allegations from 2016; dropping corruption charges against New York’s Mayor Eric Adams, and suspending security clearances for the law firm that Robert Mueller left four years ago (later blocked by a judge).

The larger point is that perhaps we’ve become inured to the serious spectacle of a president not just interfering with the Justice Department but literally dictating who should be charged and who should be protected.

Trump told Pam Bondi over the weekend, ‘They impeached me twice, and indicted me (five times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!!’ 

He said he believes James, Comey and Democratic Sen. Adam Schiff are ‘all guilty as hell’ but that nothing is being done.

As someone who used to roam the halls of the Justice Department — and covered three independent counsels involving Ronald Reagan’s AG, Ed Meese — I am acutely aware of the ethical boundaries. 

After the Watergate scandal, which included Attorney General John Mitchell going to prison, led to reforms, the idea of a wall between the White House and DOJ was further cemented. 

Joe Biden saw any involvement in criminal probes as radioactive, and no evidence of his tampering has surfaced (though he did pardon a bunch of allies, including his son).

There was a huge uproar back when Bill Clinton had a chance tarmac meeting with his AG, Loretta Lynch, while his wife was under investigation over her private email server. She said they talked about grandchildren and travel. A CBS reporter called the meeting ‘absolutely shocking.’ 

But you don’t have to rely on unnamed sources to learn about Trump giving his attorney general marching orders. He broadcasts it, even boasts about it.

Of course, Trump stretching his executive powers goes well beyond DOJ. There are his funding freezes against universities, dispatching of the National Guard in D.C. and elsewhere, and attempting to fire members of supposedly independent agencies such as the Federal Reserve.

The escalation against the media has been nothing short of stunning. Trump cheered ABC’s suspension of Jimmy Kimmel against the backdrop of FCC Chairman Brendan Carr threatening to take action against its local licenses. ‘We can do this the easy way or the hard way,’ he said, prompting some conservatives to say he sounded like a mafioso.

Trump won a $16 million settlement from ABC over George Stephanopoulos saying Trump had been held liable for ‘rape,’ not sexual abuse. He also won $16 million from CBS over the biased editing of a ’60 Minutes’ interview with Kamala Harris. 

It just so happens that Nexstar, which preempted Kimmel and owns many CBS affiliates, needs administration approval to take over Tegna, another media conglomerate.

Trump filed suit against the Wall Street Journal for reporting he’d sent a birthday message to Jeffrey Epstein with a silhouette of a naked woman–and when that surfaced with what closely resembled his signature, continued to deny he had done it.

And then there is his $15 billion suit against the New York Times, which a judge threw out after just four days for its ‘inexcusable’ breaking of the rules in a filing filled with ‘vituperation.’ It’s a strange suit because it wasn’t triggered by any particular story, just a general charge that the Times campaign coverage was illegal, including a Harris endorsement that ran on the front page.

Even the largest corporations have to spend big bucks to defend such suits, which is sort of the point.

But nothing is as sensitive and powerful as law enforcement, whose officials can shield allies and prosecute opponents.

The president’s position is that DOJ was weaponized against him during the Biden administration, and therefore he’s entitled to payback.

The latest news just broke. The Justice Department was investigating border czar Tom Homan for allegedly offering to help win federal contracts to businessmen — who were actually undercover FBI agents — in exchange for $50,000.

But as MSNBC reports, Trump’s DOJ dropped the case after he took office.
Since the hidden-camera encounter took place before Trump was elected, when Homan was a private citizen, I could argue he was just doing what hundreds of lobbyists do. Except for one nagging detail — Homan took the 50K in cash, in a Cava fast-food bag. No paper trail.

And yet Pam Bondi’s department gave him a pass.

Prosecutors in every administration must make difficult judgment calls about whether they have enough evidence to convict, especially against government officials or high-profile figures. 

And next time there’s a Democrat in the White House, what’s to stop that person from playing the same kind of hardball, saying their party was entitled to payback? The cycles could be endless.

As for now, it would be easier to have confidence in these prosecution decisions if the president wasn’t openly calling the shots. 

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Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and Commerce Minister Li Chenggang in Madrid last week. They announced a ‘framework agreement’ over TikTok, the Chinese-owned app used by millions of Americans. 

But the story isn’t only about TikTok. It’s also about how America uses TikTok as a lever – and why that lever is more necessary than ever.

TikTok is an important issue in and of itself: control over data, algorithmic influence, foreign ownership – all of which are critical for national security. In addition, however, TikTok is a tool the U.S. can and should use in ongoing trade engagement, as well as to counter China’s growing leverage in rare earths, critical minerals and semiconductors.

When I served in President Donald Trump’s first administration (‘Trump 45’), the core issues we confronted included a massive trade imbalance, intellectual property theft, cyber-theft and China’s Belt and Road infrastructure expansion. These were predatory practices in trade, tech and finance. Today, in ‘Trump 47,’ the battlefront has broadened – but one thing that hasn’t changed is the psychological warfare the Chinese employ any time negotiations are underway.

I was at the center of one of the most dramatic examples of this during Trump 45… 

After an exhausting month of prep work, I boarded my flight to Beijing in March 2018 with wary optimism. I had worked intensively leading up to this trip, drafting a comprehensive framework document outlining a new trade deal with China, a proposal that would overhaul virtually every aspect of the U.S.-China economic relationship.

We’d sent the proposal to our Chinese counterparts several days earlier, and now our high-level trade delegation was en route to Beijing to negotiate the largest change to trade relations in at least 10 years. The cast of characters illustrates just how significant this trade deal could be. It included Secretary Steven Mnuchin (head of the delegation), Under Secretary David Malpass and me (Treasury), Secretary Wilbur Ross (Commerce), U.S. Trade Representative Robert Lighthizer and several of his deputies, NEC Director Larry Kudlow, Under Secretary Ted McKinney (Agriculture), and Peter Navarro (special assistant to the president and director of trade and manufacturing policy).

We arrived at the U.S. Embassy in Beijing with about an hour to review our plans one more time before we had to depart for Diaoyutai – the state guest house where Mao and every leader since has entertained foreign dignitaries. But there was a surprise waiting for us at our embassy:a brand-new proposal, drafted by the Chinese, which they were putting forth at the eleventh hour, and which we had never seen. It was about 15 pages long – and completely in Chinese!

I was one of the few people in the room who could read it. After a quick scan, I told the group: ‘This is wholly unacceptable. This document doesn’t say anything – they’re just messing with us.’ A heated debate ensued over how to respond, and how the Chinese were likely to react. But there was no time to reach a consensus; it was time to leave for Diaoyutai.

There was a mass exit from the secure room where we met at the embassy, and, almost like a well-choreographed ballet with a hundred moving parts, we all shuffled to our designated cars. As Secretary Mnuchin stepped into the limousine to take us to the meeting, Malpass insisted that I ride with the secretary and pushed me into the seat next to Mnuchin, saying, ‘We need to know exactly what this says – can you translate it on the way?’

As we sped through the streets of Beijing, I sat in the back seat, literally shvitzing as a technical term in Chinese got the better of me, and furiously translated as I read out loud, in English, what the Chinese had dropped in our laps.

Even as we climbed the stairs into the building and entered the meeting room, none of us was quite sure how Mnuchin was going to handle this hot potato. After Vice Premier Liu He’s flowing stream of diplomatic pleasantries welcoming us to China, the secretary calmly stated in response, ‘We received your draft. Thanks for sending it over – but we’re going to use our draft for today.’ It wasn’t the preamble they expected. But it was entirely consistent with the new tone that President Trump had set from the day he took office.

Today, China has moved from using tariffs and IP theft to controlling choke points – especially in rare earth elements, critical minerals, semiconductors and advanced manufacturing capacity. The numbers are clear indicators of China’s leverage. 

China accounts for about 70 % of global rare earth mining and about 90 % of the world’s rare earth refining and separation capacity. In 2023, China controlled 61 % of global mining of rare earth magnet elements and 92 % of refining capacity for those magnets. 

On semiconductors: while U.S. companies remain strong in chip design and advanced R&D, China’s share of the semiconductor industry’s value-added has surged (from about 8 % in 2001 to over 30 % by 2016), and China is pushing aggressively to become self-sufficient in mature node production.

These are not passive metrics. They are active levers China already uses in the trade negotiations through export restrictions, licensing controls or by threatening disruptions. For example, in April 2025 China – clearly in response to President Trump’s bold tariff moves – added export licenses and restrictions for seven heavy rare earth elements, including dysprosium, terbium, samarium, plus rare earth magnets—materials critical to EV motors, wind turbines, electronics and defense systems.

The challenges faced in Trump’s first term have only evolved – not eased. The trade deficit is large, IP and tech theft are growing more dangerous, predatory development finance practices continue and China’s leverage in rare earths, semiconductors and control over supply chains threatens global development and American autonomy.

TikTok is a headline issue impacting critical issues of data, influence and national security. But it is also an essential lever to counter the new pressure points China is pressing. Madrid and Friday’s Trump–Xi call offer a chance to reshape this broader contest. 

As I demonstrate in ‘A Seat at the Table,’ President Trump’s strategy and policies during his first administration allowed us to exert maximum pressure on our counterparts and to stay the course with firm negotiating positions and clear red lines. Last week’s dialogues demonstrate that Trump will continue to insist on substance over symbolism, an approach critical to our national interest. 

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E-Power Resources Inc. (CSE: EPR) (‘E-Power’ or the ‘Company’) is pleased to report the appointment of Alexander Haffmans to the Board of Directors.

Michael Danielsson, Director of E-Power commented: Mr. Haffmans is a serial entrepreneur and businessman from Amsterdam, The Netherlands. Specializing in the food and agriculture industries, Mr. Haffmans has been a senior manager and business developer internationally including ventures and operations in Europe, Asia, and the Americas. Mr. Haffmans speaks 6 languages and has developed an extensive international network of associates. Mr. Haffmans holds a Master of Science Degree in Development Economics from Wageningen University and Research, The Netherlands. We welcome Alexander to the Board and his future contributions in our mission to develop our flake graphite assets.

The Company also announces the resignation of Director Gabriel Erdelyi from the Board of Directors. Before being appointed to the Board, Gabriel was a strong supporter of E-Power which contined through his tenure on the Board. Gabriel provided invaluable insight and advice to the Company. The Board of Directors and Management of E-Power wish to thank Gabriel for his contributions to E-Power and wish him continued success in the future.

The Company also wishes to report that James Cross, President and CEO of the Company is currently on a leave of absence while tending to personal matters. In his absence, Jamie Lavigne, VP Exploration and Director of the Company has been appointed Interim CEO.

About E-Power

E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company’s priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.

For more information about E-Power Resources Inc. please visit the Company website at:
e-powerresources.com

Notice Regarding Forward-Looking Statements:

This news release contains ‘forward-looking statements’. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

For information contact: Jamie Lavigne, VP Exploration and Director, Interim CEO at : info@e-powerresources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267640

News Provided by Newsfile via QuoteMedia

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Highlights from 2023-24 Drill Program* include:

From Bo_RC_12:

  • 5.79% WO₃ over 2.0 metres (182-184m)
  • 1.12% WO₃ over 4.0 metres (246-250m, within 12m from 82m to 94m of 0.40%)
  • 0.78% WO₃ over 12.0 metres (82-94m, within 20m from 82m to 102m of 0.50%)
  • 0.50% WO₃ over 20.0 metres (82-102m)

From Bo_RC_11:

  • 1.75% WO₃ over 10.0 metres (140-150m, within 38m from 112m to 150m of 0.56%)
  • 0.56% WO₃ over 38.0 metres (112-150m)

From Bo_RC_13:

  • 0.68% WO₃ over 2.0 metres (208-210m)

From Bo_RC_02:

  • 0.63% WO₃ over 16.0 metres (62-78m, within 108m from 26m to 134m of 0.22%)

From Bo_Met_01:

  • 0.60% WO₃ over 5.0 metres (60-65m, within 106m from 60m to 166m of 0.21%)
  • 0.21% WO3 over 106.0 metres (60-166m)

From Bo_Met_02a:

  • 0.53% WO₃ over 23.0 metres (62-85m)

*As previously reported in the Borralha Technical Report (see below).

Vancouver, British Columbia–(Newsfile Corp. – September 23, 2025) – Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce highlights from its 2023 & 2024 drill program on its 100% owned Borralha Tungsten Project. Although the drill results were included in its current technical report on the Borralha Tungsten Project (the ‘Borralha Technical Report’), the individual drill results were never individually showcased. The Borralha Technical Report is entitled, ‘Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal’, dated effective July 31, 2024′ which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

During Allied’s 2023-2024 Borralha drill program, more than 3,685 meters were drilled in 16 drill holes in the Santa Helena Breccia, as described in the Borralha Technical Report, which includes the following notable intercept highlights in the table below.

Table 1: Highlights of Intercepts from 2023-24 Borralha Drill Program

Drill Hole ID From
(m)
To
(m)
DH length
(m)
True Width
factor
True Width*
(m)
WO3
(%)
Cu
(ppm)
Ag
(ppm)
Bo_Met_01 60.0 166.0 106.0 0.76 80.4 0.21 863 5.2
incl. 60.0 65.0 5.0 0.76 3.8 0.60 247 1.8
Bo_Met_02a 62.0 85.0 23.0 0.95 21.9 0.53 1215 5.8
Bo_RC_02 26.0 134.0 108.0 0.91 98.3 0.22 1170 4.9
incl. 62.0 78.0 16.0 0.91 14.6 0.63 1533 4.9
Bo_RC_11 112.0 150.0 38.0 0.78 29.5 0.56 295 1.9
incl. 140.0 150.0 10.0 0.78 7.8 1.75 204 1.5
+ 256.0 268.0 12.0 tbd 0.20 436 3.8
Bo_RC_12 82.0 102.0 20.0 0.96 19.3 0.50 2087 10.2
incl. 82.0 94.0 12.0 0.96 11.6 0.78 2038 9.5
+ 182.0 184.0 2.0 0.92 1.8 5.79 334 3.8
+ 238.0 250.0 12.0 0.90 10.8 0.40 600 2.3
incl. 246.0 250.0 4.0 0.90 3.6 1.12 1260 4.6
Bo_RC_13 208.0 210.0 2.0 0.90 1.8 0.68 217 1.9

 

*Reported intervals are downhole lengths. Estimated true widths were calculated from hole orientation and the interpreted geometry of the mineralized corridors. Estimates may vary locally where geometry changes. Where intervals fall outside the resource block-model domains, the true width is not known and only the downhole length is reported.

Table 2: Drill Hole Collar Locations

Drill Hole ID Coordinates (WGS84) Az.(º) Dip.(º) DEPTH (m)
Bo_Met_01 585521 4611357 180 80 253.20
Bo_Met_02 585458 4611315 110 53 72.90
Bo_Met_02a 585459 4611316 118 50 164.30
Bo_RC_01 585521 4611355 180 80 219.00
Bo_RC_02 585469 4611279 130 60 150.00
Bo_RC_03 585467 4611472 109 60 237.00
Bo_RC_04 585588 4611506 230 70 264.00
Bo_RC_05 585588 4611444 230 70 306.00
Bo_RC_06 585587 4611380 240 70 236.00
Bo_RC_09 585455 4611387 106 60 250.00
Bo_RC_08 585417 4611353 105 60 236.00
Bo_RC_07 585423 4611294 100 55 195.00
Bo_RC_11 585539 4611503 90 376.00
Bo_RC_10 585461 4611195 90 60 150.00
Bo_RC_12 585383 4611329 100 60 300.00
Bo_RC_13 585406 4611377 105 65 276.00
actual sum
Total 3685.4

 

The Company has continued its exploration of the Santa Helena Breccia with its 2025 drill program which is also focused on the Santa Helena Breccia (SHB) of Borralha.

‘The company invested approximately $4.1 million in 2023 & 2024 on exploration to further give confidence to investors prior to its public listing,’ Roy Bonnell, CEO & Director, Allied Critical Metals, stated. ‘We are now working to provide an updated version of the Mineral Resource Report for Borralha in Q4 2025, which is expected to include more than approximately 5,700 metres of drill results from this year’s program.’

Allied’s flagship Borralha Tungsten Project, strategically located in northern Portugal, represents one of the most significant undeveloped tungsten deposits in the western world having a potential near-term source of supply outside of the domain of China and Russia. With the NI 43-101 mineral resource estimate of 4.98 Mt @ 0.22% WO₃ (Indicated) and 7.01 Mt @ 0.20% WO₃ (Inferred) previously reported in the Borralha Technical Report, Borralha has the potential to provide a stable and scalable source of tungsten concentrate to Western markets. On September 4, 2025, Allied announced a drill intercept of 12.0 metres @ 4.27% WO3 including 6.0 metres @ 8.39% WO3 from 252.00 metres downhole, confirming one of the highest-grade tungsten intercepts reported in Western exploration, especially for high quality wolframite tungsten mineralization.

Technical Information and Quality Assurance/Quality Control (QA/QC)

During the 2023-24 drilling campaign three PQ-size diamond drill holes and thirteen reverse circulation boreholes, totalling 3,685.40 metres of drilling, were completed to their proposed lengths. Minerália was contracted to supervise and manage the drilling program that included three PQ-size diamond drill holes, namely Bo_Met_01, _02 and _ 02a, totalling 490.4 metres of drilling and thirteen reverse circulation drill holes, namely Bo_RC_01 to _13 that totalled 3,195.0 metres of drilling. Diamond drill hole Bo_Met_02 intersected old underground workings and was abandoned and re-drilled nearby as Bo_Met_02a. As of the effective date of this report, the Company has drill tested the SHB with 5,602.95 metres of drilling, infilling historical drill holes and extending exploration towards the southern part of the SHB.

The cores from the two diamond holes, Bo_Met_01 and _ 02a were halved length wise after logging and one-half of the cores were shipped to Wardell Armstrong International Ltd. with offices in Truro, London for metallurgical test work. The other half of drill core was sampled and shipped to the ALS preparatory laboratories in Seville, Spain and later to the ALS certified assay laboratories in Dublin Road, Loughrea, Co., Ireland for multi-element ICP analyses. The later 1-metre reverse circulation drill cuttings were composited into 2-metre samples and direct shipped to the ALS preparatory laboratories in Seville, Spain and later to the ALS certified assay laboratories in Dublin Road, Loughrea, Co., Ireland.

The analytical samples were collected directly from the rig splitter according to a sampling list that documented the metres and sampling sequence for each drill hole. This list also identified which sample should be collected in duplicate as well as which certified reference material (‘CRM’) were to be placed in the numerical sequence. The CRMs were randomly inserted at every 20 samples (5%), and duplicate samples were collected every 20 samples (5%). Thus, there’s an alternating CRM and Duplicate every 10th sample.

The analytical and reject samples are then transported in boxes from the drilling site to the core shed by a designated employee. The analytical samples were stored on labelled palettes for later direct shipping to the ALS preparation laboratories in Seville, Spain. Later, the pulp and reject samples were securely stored in the logging room on the property.

RC samples were prepared by ALS preparation laboratory in Seville, Spain, crushing the sample with up to 70% of the material passing a 2 mm screen, and then each sample was split to 250 g and pulverized with hardened steel to 85% passing a 75 μm screen. Each resultant sub-sample was then direct shipped to their certified assay laboratory Dublin Road, Loughrea, Co., Ireland.

The samples are analyzed by the ME-MS81 ALS method that applies a lithium borate fusion to the sample and the result of this fusion is measured by applying an ICP-MS. It is also applied to the ALS ME-4ACD81 procedure which reports base metals by a 4-acid digestion and later analyzed by an ICP-MS procedure. Any over-limit tungsten values were re-analysed at the same laboratory by a W-XRF15b procedure that uses a lithium borate fusion with an XRF analysis. The analytical results were then securely emailed to the company.

To the best of the Company’s knowledge, no drilling, sampling, recovery, or other factors have been identified that would materially affect the accuracy or reliability of the data referenced herein. As indicated further above, these drilling results and related procedures and technical information were also detailed by an independent qualified person in the Borralha Technical Report which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR) (Membership Nº. 703197, Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company.

Understanding Tungsten

To understand tungsten, it is critical to understand the difference between wolframite tungsten mineralization and scheelite tungsten mineralization. Scheelite often reports higher grades (0.3%-1.0% WO₃) but is more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.i In contrast, wolframite, which is the focus of Allied, can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades (~0.15%-0.25% WO₃) economically viable in wolframite deposits. For example, a wolframite deposit with 0.4% WO₃ over 3 metres can be more profitable than a scheelite deposit with 0.7% WO₃ over the same interval due to lower processing costs and higher recovery rates.ii

In Western exploration drilling, tungsten grades typically range from 0.3% to 1.0% WO₃.iii The cut-off grade for economic viability is generally around 0.1% WO₃, with highly efficient operations able to mine at grades as low as 0.08% WO₃. Skarn deposits, a common deposit type, typically range from 0.34% to 1.4% WO₃, with intercepts of 0.4% WO₃ over 1-5 metres considered very good and 0.7% WO₃ over 1-3 metres considered very high-grade.iv Intercept lengths can range from 0.6 metres to over 100 metres, with longer intercepts at strong grades generally preferred for economic mining. A result like 0.5% WO₃ over 3 metres is generally considered strong within Western tungsten exploration benchmarks, especially for wolframite tungsten mineralization.v

It is also important to recognize that China, Russia, and North Korea control approximately 87% of the world’s tungsten supply, using cheap labor and minimal environmental standards in authoritarian regimes. vi As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labor, ESG, and energy cost structures. Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.

For Allied, this context is significant. Wolframite tungsten grades, ranging from 0.2% to 1.0% WO₃ are strong global wolframite benchmark values. The Company’s focus on wolframite ensures lower processing costs and higher recoveries, supporting project economics even at lower grades. Allied’s operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors. Allied’s strong grades, low-cost processing advantages, and secure location position it as a strategic and responsible tungsten exploration company, well placed to support robust project economics in a rising-demand market. vii

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

ON BEHALF OF THE BOARD OF DIRECTORS

‘Roy Bonnell’

Roy Bonnell
CEO and Director

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

Please visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

i International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

ii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

iii US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

iv British Geological Survey (BGS). (2023). Tungsten fact sheet. Retrieved from https://www.bgs.ac.uk/downloads/start.cfm?id=1408

v Argus Media Group. (2025). Argus Tungsten Monthly Outlook. Issue 26-6, 11 June 2025. https://argusmedia.com

vi International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

vii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267656

News Provided by Newsfile via QuoteMedia

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Description:

Market research firm Arrowhead believes Metals Australia (ASX:MLS) is positioned to benefit from surging demand for critical minerals tied to the global energy transition. In a September 2025 Due Diligence and Valuation Report, analysts Karan Mehta and Sahil Rustagi suggested a fair share value of AU$0.071 to AU$0.087, more than triple the current trading price of AU$0.022 as of mid-September 2025.

At the heart of this optimism is the company’s Lac Carheil graphite project in Quebec, Canada, which has rapidly advanced into Metals Australia’s flagship asset. The project now boasts an updated mineral resource of 50 million tonnes (Mt) grading 10.2 percent total graphitic carbon (TGC), containing 5.1 Mt of graphite, placing it among a select group of high-grade, large-scale deposits globally

Backed by strong technical partners and a grant from the Quebec government, the project is moving through a pre-feasibility study, with downstream integration plans centered on producing battery anode materials.

Highlights from the Arrowhead Report

  • Valuation Range: Arrowhead estimates a fair value bracket of AU$0.071 to AU$0.087 per share, versus the current market price of AU$0.022 (Sept. 16, 2025), implying meaningful upside potential.
  • Flagship Project: The Lac Carheil graphite project in Quebec now hosts a 50 Mt resource at 10.2 percent TGC, a fourfold increase from the maiden estimate, and is progressing through a pre-feasibility study.
  • Strategic Positioning: The project has achieved battery-grade graphite purity of 99.99 percent and benefits from supportive trade and supply-chain dynamics, including proposed US tariffs on Chinese graphite
  • Risks: As a pre-revenue exploration company, Metals Australia remains dependent on external funding despite holding AU$11.8 million in cash and having secured a C$600,000 Quebec grant

Read the full report herereport here.

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The pharmaceutical industry is a major player in the overall life science sector, responsible for developing and manufacturing the majority of prescription drugs.

Companies in this space are constantly researching and creating innovative treatments for various medical conditions. In recent years, there has been a particular focus on developing new treatments for diabetes, weight loss and cancer.

With global spending on medicine using list prices growing by 38 percent over the past five years and a forecasted increase of 35 percent through 2029, there is an opportunity for investors to gain exposure to the growth potential of this industry while also benefiting from the diversification and stability provided by established companies.

1. Eli Lilly and Company (NYSE:LLY)

Market cap: US$715.16 billion

Founded in 1876, Eli Lilly and Company employs approximately 10,000 individuals for research and development in seven countries and has products marketed in 110 countries, including therapies for diabetes, cancer, immune system diseases and a wide range of mental health conditions.

The company also has drugs in development for various medical conditions, such as skin ailments, cancers, Crohn’s disease, diabetes, obesity and Alzheimer’s disease.

So far in 2025, Eli Lilly has made a number of portfolio expanding acquisitions of private and public biotechnology companies. This includes private biotechnology companies Scorpion Therapeutics, which develops small molecule precision oncology therapies; SiteOne Therapeutics, which develops non-opioid medicines for pain management; and Verve Therapeutics, which develops genetic medicines for cardiovascular disease.

Early in the year, Eli Lilly announced plans to more than double its US manufacturing investment since 2020 to more than US$50 billion, representing the largest pharmaceutical manufacturing investment in the country’s history.

In mid-September, as part of this investment, the company shared plans to build a US$5 billion manufacturing facility in the state of Virginia. The facility will develop active pharmaceutical ingredients for cancer, autoimmune and other advanced therapies. The same month, Eli Lilly reported plans to build a new US$6.5 billion facility in Texas to manufacture small molecule synthetic medicines.

2. Johnson & Johnson (NYSE:JNJ)

Market cap: US$419.6 billion

Johnson & Johnson operates on a massive scale and encompasses various segments through its subsidiaries. Its primary pharmaceutical subsidiary is Janssen Pharmaceuticals, which focuses on cardiovascular disease and metabolism, infectious diseases and vaccines, neuroscience, oncology, immunology and pulmonary hypertension.

Johnson & Johnson acquired a clinical-stage biopharmaceutical company called Ambrx Biopharma last year, which will allow the company to further develop antibody-drug conjugates, expanding its offering of targeted oncology therapies. This year, the company acquired Intra-Cellular Therapies in a US$14.5 billion deal, which includes lumateperone, the first and only treatment approved by the US Food and Drug Administration (FDA) for bipolar I and II depression as an adjunctive and monotherapy.

In March, Johnson & Johnson announced it plans to invest more than US$55 billion in manufacturing, research and development and technology in the US over the next four years, up 25 percent over the previous four years.

3. AbbVie (NYSE:ABBV)

Market cap: US$394.05 billion

AbbVie is a global biopharmaceutical company that discovers and delivers innovative medicines and solutions to address complex health issues. The company has identified five areas of focus where it believes it can make a significant impact in improving treatments for patients: immunology, oncology, neuroscience, eye care and aesthetics.

A few of AbbVie’s drugs garnering FDA approval this year include upadacitinib, the first and only oral JAK inhibitor approved for the treatment of giant cell arteritis in adults; telisotuzumab vedotin-tllv for the treatment of adult patients with certain types of non-squamous non-small cell lung cancer; and glecaprevir/pibrentasvir, the first oral eight-week pangenotypic treatment option approved for people with acute or chronic hepatitis C.

In August, AbbVie announced it will build a US$195 million facility to increase its active pharmaceutical ingredient production capacity in the US. The spend is part of the company’s plan to invest more than US$10 billion in the US pharma market over the next 10 years announced in April.

4. Novo Nordisk (NYSE:NVO)

Market cap: US$270.84 billion

Danish company Novo Nordisk has demonstrated a commitment to addressing various health conditions, such as type I and II diabetes, obesity, hemophilia and growth disorders, and markets its therapies in 170 countries. The company’s main product is the diabetes drug Ozempic, which is also marketed for obesity under the name Wegovy.

It has been conducting research into a new obesity treatment called amycretin, which targets both GLP-1 and amylin receptors. In June, Novo Nordisk announced that amycretin will enter Phase 3 development in weight management in the first quarter of 2026.

In September, the company presented top-line Phase 3 REDEFINE 1 clinical data for another obesity drug, cagrilintide. The drug candidate will move into the more advanced Phase 3 RENEW clinical program in Q4 2025.

Novo Nordisk has a working partnership with Microsoft (NASDAQ:MSFT) through which it uses the tech giant’s artificial intelligence (AI), cloud and computational services to facilitate the discovery of new drugs and treatments.

5. Abbott Laboratories (NYSE:ABT)

Market cap: US$237.78 billion

Abbott Laboratories creates a wide range of products, from diagnostics to medical devices to branded generic pharmaceuticals. Its medical devices focus on segments including vascular diseases, diabetes and optometry.

The company’s Tendyn transcatheter mitral valve replacement system received FDA approval in May. The system is designed to treat people with mitral valve disease without the need for open heart surgery.

In August, Abbott’s Navitor transcatheter aortic valve implantation system was granted the CE Mark designation in Europe, as was its Esprit BTK dissolving stent system. The Navitor system is designed to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery, while the Esprit BTK system allows treatment of patients with peripheral artery disease below the knee.

FAQs for pharmaceutical stocks

What does the pharmaceutical industry do?

The pharmaceutical industry encompasses a variety of companies that have different — although sometimes overlapping — roles to play. The most famous players are the ‘Big Pharma’ companies. These giants often have a variety of subsidiaries, large pipelines and many products in their portfolios.

There are also smaller pharma R&D companies, which sometimes get acquired by larger firms if their work seems promising. Companies in these categories research, develop and bring to market drugs aimed at filling unmet needs, or helping people who are resistant to pre-existing treatments.

Once patents run out on prescription drugs, generic drug manufacturers create much cheaper generic versions. Wholesale companies also play a large role in the pharma sector. According to Common Wealth Fund, wholesalers have four areas through which they affect drug buying and distribution: ‘setting generic drug prices, leveraging list price increases, competing in specialty drug distribution, and mitigating or exacerbating drug shortages.’

What is the big pharma business model?

Big Pharma companies have a fairly consistent business model. Often, the company’s R&D team will slowly develop a new drug through many stages of testing to prove the drug’s efficacy, safety and necessity.

If all trials are completed successfully, the company will apply to government organizations such as the FDA, which must approve the drug before it can be mass produced, marketed and sold. Companies can skip a number of these steps by acquiring smaller companies, or through in-licensing, which results in two companies sharing the burden of a drug’s development through to commercialization. However, it’s worth noting that large pharma companies have many drugs in their pipelines at any given time, and many don’t make it to approval.

Once a drug is approved by the relevant health organization, it can be marketed and prescribed. Because patents expire after 20 years, companies lobby and advertise to try to get as many sales as possible during that window.

Who are the ‘Big 3’ in pharma?

The ‘Big 3’ in pharma refers to the three largest wholesalers: Cencora (NYSE:COR), Cardinal Health (NYSE:CAH) and McKesson (NYSE:MCK). Collectively, those three companies account for over 95 percent of wholesale prescription drug distribution in the US.

Which country is number one in the pharma industry?

The US is the top pharmaceutical country, with six of the top 10 pharma companies by revenue headquartered in the nation. The country is also in the lead when it comes to consumer spending on pharmaceuticals — this is due to the high cost of brand-name drugs. Aside from that, the US is the top country globally for pharma R&D spending, with 48 percent of global biopharma R&D companies headquartered there. Together they account for 55 percent of global R&D investments and 65 percent of funding at the development-stage.

What is the future of pharmaceuticals?

Pharmaceutical companies will have to adapt to changing times. The world is shifting, with economic woes, geopolitical disruptions and supply chain concerns affecting nearly every sector. Innovation continues to accelerate as well, and the medical landscape has changed in the wake of COVID-19. Additionally, the US government is making moves to address the astronomical prices of prescription medicine as the industry comes under more scrutiny.

For a look at what is else is effecting the market, read our 2025 Pharma Market Forecast.

Are pharmaceutical stocks risky?

While established players like the Big Pharma and wholesale companies discussed above should be relatively consistent, small companies are make-or-break depending on whether their drugs are successful. This means that investors could see much higher returns compared to large companies, but run the risk of taking massive losses in the case of failure.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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