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Virgin Group Fund Elevates 23AndMe $3.5Bn IPO

 
• By Marion Webb

23andMe is teaming up with blank check company VG Acquisition Corp to go public, making the move into personalized health care.

OTC genetic-testing developer 23andMe, Inc. will become a publicly traded US company through a merger with an investment group backed by Virgin Group founder Sir Richard Branson in a deal that values the company at $3.5bn, including debt.

As part of the agreement with the VG Acquisition Corp., which is Virgin's special purpose acquisitions company (SPAC), 23andMe will receive proceeds of $759m

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FTC Consumer Privacy Policy Driven By ‘Straw Man’ Arguments – Commissioner Holyoak

 
• By Eileen Francis

The US FTC’s contention that ‘notice and choice’ has failed as the cornerstone of consumer privacy regulation and must be abandoned in favor of data minimization and other more stringent measures does not adequately account for the complexity of business practices and consumer behavior, FTC commissioner Melissa Holyoak asserted at the NAD’s 2024 Annual Conference.

FTC’s New Commissioner ‘Dismayed’ By Agency Overreach

 
• By Eileen Francis

FTC Commissioner Melissa Holyoak says the agency has acted outside the bounds afforded by Congress, citing several areas within consumer protection, including a recent update to the final rule for the Health Breach Notification Rule and the commission’s use of notices of penalty offense to serve as the basis for Section 5 settlements. 

Beauty Brands Not On TikTok Shop ‘Really Missing Out’ – KO-Pack

 
• By Eileen Francis

At one year, TikTok Shop conjures the early days of Amazon, representing the ‘Wild West’ of beauty ecommerce, said co-founders of private label and contract manufacturing company KO-Pack at the IBA Cosmetics Convergence Fall 2024 Virtual Symposium, “The Promise and Pitfalls of TikTok Shop.”

Final Chance To Have Your Say: Take Our Reader Survey This Week

 
• By Ryan Nelson

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

More from HBW Insight

Danes Get OTC Access To ED Treatment

 
• By Tom Gallen

Navamedic has launched Eroxon in Danish pharmacies giving men in the country OTC access to an ED treatment for the first time.

Perrigo Sees Growth Opportunities In Tariff Storm

 
• By Malcolm Spicer

As largest provider of private label/store brand OTCs with “100 plus molecules across 100% price point coverage,” CEO Patrick Lockwood-Taylor says Perrigo’s in position to capitalize as consumers become “more cautious” and look for lower-priced products.

Coty Lowers FY25 Forecast On Tariff Uncertainty, Inventory Reductions, But Expects Sunnier Days In FY26

 
• By Eileen Francis

Coty lowers its revenue and profit outlook for FY25, though it believes FY26 will be a better year thanks to a return of ‘blockbuster’ product launches, market expansion and mitigation strategies for current economic uncertainties.