Auquan's Weekly Wrap | 12th - 18th November: What you might have missed

Big Alcohol draining water levels in drought ridden Mexico. Cancer Drug advancement with GSK's new facility. Carmakers subject to building lawsuits after 3G shutting down.

Auquan's Weekly Wrap | 12th - 18th November: What you might have missed
People fill containers during a public water distribution as more than half of Mexico faces moderate to severe drought conditions, in Escobedo. REUTERS/Daniel Becerril

Top Themes

Alcohol Industry Climate Impact

Photographer: Susana Gonzalez/Bloomberg

Mexico's droughts worsen every year, and record level of low rainfall in the northern state this year highlight the water crisis impacting the region. However, breweries with federal water rights that last decades are 'ignoring the region's increasing droughts.' With Mexico being the largest importer of beer globally, (Modelo, Heineken, AB Inbev, Constellation Brands all manufacturing there), northern proximity to the US means optimal profits for them. Mexico's president has stated government will support production elsewhere , however 'they do not want to budge.' This is despite of locals suffering from water scarcity, poor sanitation, SME shutdowns and further consequences impacting livelhoods.

Cancer Drug Development

Photo: GSK

GSK's capability to manufacture highly potent components for cancer treatments was official this week, with a $44m facility unveiled in Singapore this week. A key ingredient, (a cytotoxic agent in antibody drug conjugates) is being produced to treat a form of blood cancer affecting several parts of the body such as the spine and skull. This follows Novartis Pharma's licensing deal last month, the world's first for a cancer drug: to supply generic versions of nilotinib, a medication used to treat chronic myeloid leukaemia.

3G Shutdown Lawsuits

Andrew P. Collins (Assets: Adobe Stock, Subaru)

The shutdown of 3G networks are causing a build up of lawsuits, notably for carmakers in recent weeks. Both Ford and Volksawgen are facing consumer lawsuits alleging they are refusing to pay for 4G upgrades to their customers cars. AT&T's 3G shutdown has halted connected services such as the 'MyFord' mobile app which allows consumers to 'to start, lock, unlock or locate their vehicles remotely.' BMW and Porsche are also subject to similar suits.

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