Iterum Therapeutics Ltd. secured $40 million in Series A funding led by Frazier Healthcare Partners together with other venture capitalists. The said fund will be used to acquire license and to enhance the development of the anti-infective drug that could counter certain bacteria's resistance to antibiotic.
The shares of McDonalds' - the world's biggest restaurant chain - jumped more than 8% to hit $110.88 on Thursday. CEO Steve Easterbrook, who took over the helm 8 months ago, stated that the rebound in the quarterly restaurant sales showed that his turnaround plan is starting to take effect.
It's a never-ending issue for McDonald's and other restaurants until they cease using antibiotics with their meat products. McDonald's received a "C" score for antibiotics overuse.
In barns filled with classical music and lighting that changes to match the hues outside, rows of chickens are fed a diet rich in probiotics, a regimen designed to remove the need for the drugs and chemicals that have tainted the global food chain.
KFC, the world's largest chain of fried chicken restaurants, may face pressure from consumer and environmental groups to change how its poultry are raised after McDonald's Corp (MCD.N) said it would switch to chicken raised without human antibiotics.
Costco Wholesale Corp is working toward eliminating the sale of chicken and meat from other animals raised with antibiotics that are vital to fighting human infections, senior executives at the third-largest U.S. retailer told Reuters on Thursday.
Chipotle Mexican Grill Inc's decision to suspend purchases from a pork producer that ran afoul of its animal welfare rules could bolster its reputation with diners but threatens sales and profits this quarter.
Merck & Co Inc (MRK.N) said it would buy Cubist Pharmaceuticals Inc (CBST.O) for $8.4 billion plus assumption of debt, giving the major drugmaker an entry into the market for drugs that combat so-called superbugs.