Consumers ConCerned about the eConomy

Growing concerns about the economy among consumers

Puerto Ricans worried about recession, inflation

CyberNews

The Consumer’s Radiography report from the Marketing, Industry and Food Distribution Chamber of Puerto Rico (MIDA, for its Spanish acronym) shows an increasing concern among consumers about changes in the

economy. “Specifically, the number of Puerto Ricans worried about a recession increased from 30 percent, in 2012, to 86 percent in 2022. As for [concerns about] the price of gas, it increased from 45% to 93%. Similarly, cost-of-living concerns increased from 65% to 91%, while inflation concerns rose from 15% to 84%, and interest rates from 9% to 77%,” informed MIDA Executive Vice President Manuel Reyes.

“These data shows a dramatically pessimistic consumer that is more distressed about economic issues today than 10 years ago. This greatly contrasts with the narrative of some of our public officials about the economy,” Reyes added during a press conference. Richard Valdés, president of the Consumer’s Radiography Committee, characterized the situation as “the perfect storm,” and defined the term as “an expression that describes an event in which a rare combination of circumstances could drastically worsen a situation.” In terms of the sale of alcoholic beverages, the report shows beer is the most bought product in supermarkets, with 72%, while 35% of consumers preferred wine, and 29% opted for other distilled spirits. However, Reyes explained the consumption of alcoholic beverages has other venues that required complementary data. In the case of food and household products, spending was $463, the highest for the last five years. But Reyes explained this is mainly due to the inflationary effect, and higher federal aid during the survey period, and not necessarily because of an increase in the number of products bought.

In fact, Regarding unprepared food items, proteins were the most impacted. MIDA’s report revealed Consumers spent $463 on food and household products, the highest for the last five years. that, among consumers who cutback their spending on food for economic reasons, 51 percent stopped buying beef. The number of store visits also decreased. “[Consumers] spend more, but they go to the store less often and visit fewer stores than in previous years,” Valdés said. Consumers also took other measures, such as eating more frequently at home (78 %), or buying more supermarket brands (66%). When deciding what food staples they would choose to buy, 97% of all surveyed consumers said quality, expiration dates, taste and price were important elements considered. It is worth noting that for 81% of the consumers it is important that

“These data shows a dramatically pessimistic consumer that is more distressed about economic issues today than 10 years ago.”

Manuel Reyes, Executive VP at MIDA

the product be “made in Puerto Rico.” Important factors when selecting an establishment, beyond price, 95% opts for organized shelves, cleanliness and wide corridors, while 93% preferred security, ample parking, business hours, location and shopping carts in good condition. Contrastingly, the increase in visits to pharmacies to buy food that was experience during the pandemic, is no longer the same. Respondents said their visit to pharmacies to buy food were reduced from 12%, in 2021, to 1% in 2022. Similarly, 91% of respondents said they do not buy food in a pharmacy. However, beyond grocery shopping, the report revealed community pharmacies are competing effectively against the big chain pharmacies. When asked which pharmacies they visit most often, consumers were almost evenly split between community pharmacies (47%) and big chains (48%).

MIDA’s report on how Puerto Ricans are adapting to the crisis, which is a part of the Consumer’s Radiography, will be presented later in the month at the Convention Center.

CytoImmune Therapeutics about to begin clinical trials on cancer treatment

Medication is based on cell therapy that can directly kill cancer cells

Madison Choudhry, Special to The Weekly Journal

CytoImmune Therapeutics, a clinical-stage immuno-oncology company that is developing cancer therapies, and City of Hope, one of the largest cancer research and treatment organizations in the U.S., have announced that their Phase 1 clinical trial for a lung cancer treatment has begun.

The American Cancer Society’s reported that in 2022 lung cancer in the United States accounted for about 236,740 new cases of cancer (117,910 in men and 118,830 in women) and about 130,180 deaths (68,820 in men and 61,360 in women). The organization reported that lung cancer is not only the leading cause of cancer deaths (roughly 25%) but more deaths occur than colon, breast, and prostate cancer combined.

“We are thrilled to initiate trials in partnership with City of Hope, which marks our transition into a clinical-stage company and brings us an important step closer to understanding the potential our therapies may have for treating patients with cancer,” said Christina Coughlin,

M.D., chief executive officer of CytoImmune. The U.S. government’s official website on cancer (www.cancer.gov) plainly states in an informative page that current treatments do not cure the cancer.

“We’ve engineered our treatment to be an off-the-shelf (doctor prescribed) cell therapy that can directly kill cancer cells, broadly stimulate the body’s own endogenous immune system, and enhance tumor killing through generation of a highly effective immune response ultimately leading to improved patient outcomes,” Coughlin said.

In this trial, genetically modified natural killer (NK) cells secrete high levels of IL-15, an immune-signaling molecule crucial for anti-tumor responses which aids the patient’s own immune system. The engineered

NK cells are primed with cytokines during manufacturing to induce a PD-L1 expression. PD-L1 is a protein that acts as a kind of “brake” to keep the body’s immune responses under control. The cells are then naturally directed to the tumor microenvironment where they are designed to kill the cancer cells with the patient’s own immune system.

“Lung cancer continues to be a challenging cancer to treat and despite advancements, too many patients are left without durable and effective options. We are pleased to advance this novel cellular therapy together with CytoImmune, which could offer patients with lung cancer a promising new treatment option,” said executives from City of Hope.

Along with a facility in California in 2021 CytoImmune Therapeutics opened a 37,000 square foot facility in Toa Baja. “Puerto Rico was the obvious choice for expanding our operations. The island, with proven history in the life sciences sector, can support our research and development, including a deep talent pool, supportive business climate, and many other high-value intangibles,” said Will Rosellini, co-founder and president of CytoImmune. It is important to note that although this is a promising treatment it is still in the preliminary stages and access to the treatment may still be years off. However, should the treatment meet FDA standards, Dr. Coughlin

In fact, stated that accessibility was a main objective of CytoImmune Therapeutics. This may come in response to statistics from the National Cancer The U.S. Institute which stated in 2019, lung cancer cost government’s official patients $1.35 billion out of pocket. website on cancer “In the modern era of cancer research, we have (www.cancer.gov) to think about treatment costs and how they plainly states in an impact our patients. As exciting and promising informative page that as cancer research is, we are keenly aware of the current treatments issue of financial toxicity for these patients,” said do not cure the Norman E. “Ned” Sharpless, M.D., director of NCI. cancer. “Therapies that are highly effective are no doubt good news, but if they are unaffordable it is not the total kind of progress we would like to see. Finding ways to ensure that not just some, but all patients get access to therapies that are beneficial to them is an important goal we must continue to strive for in the cancer community.”

Doctor showing medical records to cancer patient in hospital ward. “As exciting and promising as cancer research is, we are keenly aware of the issue of financial toxicity for these patients.” Norman E. Sharpless, M.D., director of NCI.