News In Brief: Abbott Laboratories (NYSE:ABT); Generex Biotechnology Corporation (OTCMKTS:GNBT) And Exxon Mobil Corporation (NYSE:XOM)

Boston, MA, 02/28/2014 – The Department of Health (DH) in Hong Kong has notified today that Abbott Laboratories (NYSE:ABT)‘s local supplier has issued a alert over certain of its blood glucose monitoring systments and has recalled selected brands. The recall relates to the company’s own internal testing and investigation, which revealed that some of its brands may give inappropriate results to Diabetes patients. The brands recalled include, FreeStyle, FreeStyle Papillion, Mini, Flash, Papillon Mini, Optimum Mini Blood Glucose Meters and FreeStyle Navigator Continuous Glucose Monitoring System. These systems runs the risk of potentially produce error reports about the sugar levels of patients, which could lead to adverse effects. So far, no incident of any such effect has been reported to the DH.

Generex Biotechnology Corporation (OTCMKTS:GNBT) announced yesterday about the publication of studies investigating biomarkers related with overall survival among prostate cancer patients, who undergo treatment with the company’s immunotherapeutic agent AE37. The key highlight of the study was the AE37’s induced immune being stronger in patients with a lower HER2  as well as in the early developed stages of the cancer. Generex Biotechnology Corporation (OTCMKTS:GNBT)’s AE37 is developed to generate immune response among cancer patients and the identification of biomarkers is an important study in the field of cancer immunotherapy.

According to the latest 10-K filing by Exxon Mobil Corporation (NYSE:XOM), the company intends to slash down its spending towards drilling of new wells. The company’s current annual budget for the year is at $37 billion, which is 13% lower in comparison to $42.5 billion spending in the previous year. Exxon said that it plans to allocate $6 billion towards projects related to emission control and reduction associated with the climate change and pollution, which is similar to its spending in 2013. The rate is expected to continue in the forthcoming period as well, according to Exxon Mobil Corporation (NYSE:XOM).

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