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☆ What the results of Wegovy’s longest clinical trial yet show about weight loss, side effects and heart protection
▼ + stars: | 2024-05-13 | by ( Meg Tirrell | ) edition.cnn.com time to read: +10 min

CNN —New analyses of the longest clinical trial yet of the weight-loss drug Wegovy are shedding light on how quickly it helps people lose weight, how long they sustain that weight loss and how safe the medicine is over four years of use. A previous clinical trial showed even greater average weight loss for Wegovy: about 15% on average over 68 weeks, compared with 2.4% for people who got a placebo. It was sustained for up to four yearsThe results showed that the 10% average weight loss for people using Wegovy was sustained for up to 208 weeks, or four years. Patients stayed on the medicine while they sustained the weight loss. Almost 23% of people on Wegovy lost at least 15% of their body weight, compared with 1.7% on a placebo.

Persons: Wegovy, –, ”, Harlan Krumholz, Dr, Donna Ryan, Eli Lilly, wasn’t, they’d, Daniel Drucker, it’s, John Deanfield, Krumholz, Drucker, GLP, Sanjay Gupta Organizations: CNN, Yale University, Yale New Haven Hospital, drugmaker, Nordisk, Novo Nordisk, European, Obesity, Nature, Pennington Biomedical Research, University of Toronto, University College London, CNN Health Locations: Baton Rouge , Louisiana, Novo

☆ Blockbuster weight loss drug Wegovy's sales just doubled — and could heat up even more with a price cut
▼ + stars: | 2024-05-03 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewDanish drugmaker Novo Nordisk will lower prices of its weight loss drug Wegovy as it plans to raise sales volumes and navigate tough competition. Prices for the blockbuster drug fell in the first quarter. Sales of Wegovy more than doubled in the first quarter year-on-year, to 9.4 billion Danish crowns, or $1.3 billion, according to the company's earnings. They did not specify how much Novo plans to cut Wegovy's prices. AdvertisementThe Danish pharmaceutical maker, which also produces viral weight loss drug Ozempic, reported better-than-expected sales of 65 billion Danish crowns, or $9.4 billion, in the first quarter.

Persons: —, Karsten Munk Knudsen, Knudsen, Lars Fruergaard Jorgensen, Ozempic, Eli Lilly, Wegovy, Bernie Sanders, Goldman Sachs, Oprah Winfrey, Elon Musk, Charles Barkley Organizations: Service, Nordisk, Business Locations: Danish, Novo

☆ Weight-loss drug Wegovy can be marketed for heart benefits after FDA label update
▼ + stars: | 2024-03-08 | by ( Meg Tirrell | ) edition.cnn.com time to read: +4 min

The label expansion may improve insurance coverage for Wegovy, which costs more than $1,300 per month out of pocket before any discounts. Many insurers, including Medicare, don’t cover drugs for weight loss, leaving patients scrambling to afford them. “This patient population has a higher risk of cardiovascular death, heart attack and stroke,” he added. More studies need to be done to show whether there are heart benefits for people who haven’t had a cardiac event. Wegovy continues to be in shortage, along with other GLP-1 medicines, as drugmakers struggle to keep up with demand.

Persons: CNN — Wegovy’s, –, Dr, Harlan Krumholz, hasn’t, Eli Lilly, Wegovy, John Sharretts, haven’t, it’s, Sanjay Gupta, Jody Dushay, Beth, Dushay, Novo, Doug Langa, ” Organizations: CNN, US Food and Drug Administration, Yale University, Yale New Haven Hospital, Novo Nordisk, Diabetes, ”, CNN Health, Beth Israel Deaconess Medical Center, Harvard Medical School, Novo Nordisk’s, North America Operations

☆ Novo Nordisk and Eli Lilly rival soars 32% after promising weight-loss drug results
▼ + stars: | 2024-02-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Vials move along a conveyor at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Monday, June 12, 2023. Shares of Denmark's Zealand Pharma rocketed higher, after the company posted strong results from a trial of a liver disease treatment that has been touted as a potential competitor in the booming weight-loss drug market. The drug has "demonstrated efficacy" in people with obesity and is currently undergoing five Phase-3 trials in a clinical program for people who are overweight or obese. Analysts latched onto the drug's possible efficacity in obesity research following the latest test results, which indicated the safety of the top dosage used in that trial. Several other firms, including Eli Lilly, Roche and AstraZeneca, also seek to compete in the sector.

Persons: Ozempic, Eli Lilly, Roche Organizations: Novo Nordisk, pharma, Denmark's Zealand Pharma, U.S . Food, Drug Administration, Zealand Pharma, Nordisk, AstraZeneca Locations: Hillerod, Denmark, U.S, London, Danish

☆ Novo Nordisk parent to buy Catalent for $16.5 billion to expand Wegovy supply
▼ + stars: | 2024-02-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Novo Nordisk will then buy three of Catalent's manufacturing sites from Novo Holdings for $11 billion. Novo Holdings owns almost 77% of the voting shares in Novo Nordisk. Novo Nordisk and Novo Holdings said they expect the acquisition of the plants and the broader deal to buy Catalent to close at the end of 2024. Novo Nordisk added that it expects its purchase to gradually help increase its filling capacity beginning in 2026. Under the terms of the deal, Novo Holdings will buy Catalent for $63.50 a share in cash, a premium of 16.5% to Catalent's closing price on Friday.

Persons: Catalent, Eli Lilly Organizations: Nordisk, Novo Holdings, Novo Nordisk's Wegovy, Novo Nordisk, Novo, Elliott Investment Management, U.S ., Reuters, CNBC PRO Locations: Novo, Italy, Belgium, Bloomington , Indiana, Denmark, France, U.S, Brussels

☆ Here are Jim Cramer's rapid-fire takes on 5 stocks in the news Monday
▼ + stars: | 2024-02-05 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

Jim Cramer said this deal is Novo's way to "get more product" and addresses the "tremendous shortage" of these high-demand drugs. Shares of Eli Lilly , a stock in the CNBC Investing Club 's portfolio, were also up more than 4% ahead of Tuesday's earnings. Snap – The social media firm laid off 10% of its workforce ahead of Tuesday's earnings. Jim pointed out that Club name Starbucks (SBUX) has also been experiencing the same thing. Jim said buy McDonald's stock on weakness.

Persons: Jim Cramer, Eli Lilly, Lilly, Cramer, Cigna –, Cantor Fitzgerald, Jim Organizations: Nordisk, Catalent, CNBC, Microsoft, RBC Capital, Humana, Starbucks, Mattel –, JPMorgan, Vision, Apple Locations: Danish, Israel

☆ Norway's giant wealth fund touts possibility of Novo Nordisk, Eli Lilly joining the trillion-dollar club
▼ + stars: | 2024-01-31 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. Norway's giant wealth fund, the world's largest, touted the possibility that Danish drugmaker Novo Nordisk and U.S. rival Eli Lilly could be on course to become the first healthcare members of the trillion-dollar club. Novo Nordisk, Europe's largest firm by market capitalization, on Wednesday reported stronger-than-anticipated 2023 earnings, as sales of its hugely popular drug Wegovy continued to soar. The largest pharmaceutical company in the world by market value, Eli Lilly currently stands at roughly $612 billion. NBIM, the world's biggest single stock market investor, holds a 2.5% stake in Novo Nordisk and a 0.98% stake in Eli Lilly, according to LSEG data.

Persons: Eli Lilly, Wegovy, Gemma Game, Eli Lilly's Zepbound Organizations: Novo Nordisk, Pharmacy, Norges Bank Investment Management, Nordisk's Ozempic Locations: Provo , Utah, U.S, Danish, Europe's

☆ Healthcare companies are promising to help patients quit Wegovy. There's just one problem with that.
▼ + stars: | 2023-12-19 | by ( ) www.businessinsider.com time to read: +11 min

Inkinen said Virta can help patients quit GLP-1 drugs and keep weight off by adjusting the foods they eat to help them feel full, similar to how the drugs reduce feelings of hunger. About 82% of patients taking Wegovy experience gastrointestinal issues like nausea and diarrhea. WeightWatchers didn't provide Business Insider with published data to support its claims that it can help people keep weight off after quitting weight-loss drugs. AdvertisementHe also advises the weight-loss startup Calibrate, which tapers some patients off GLP-1 drugs after they reach a certain body-mass index. GLP-1 drugs also slash the risk of heart attacks, strokes, and cardiac-related death.

Persons: —, Michael Albert, aren't, Sami Inkinen, Inkinen, Virta, Michael Siluk, Noom's, Linda Anegawa, Carolina Rudah, tirzepatide, Mounjaro, Zepbound —, Eli Lilly, Ozempic, Wegovy, Randy Seeley, Seeley, Robyn Phelps, it's, Robert Kushner, Kushner, Florian Gaertner, It's, Albert, Lisa, she's, I'm Organizations: Service, Business, FDA, Virta, Getty, Nordisk, Michigan Nutrition Obesity Research, University of Michigan, Novo Nordisk, Northwestern University Locations: Denver, Michigan

☆ Macron to unveil 2.1 bln eur Novo Nordisk pharma investment in France
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Danish drugmaker Novo Nordisk in their offices in Hillerod, Denmark, September 26, 2023. REUTERS/Tom Little Acquire Licensing RightsPARIS, Nov 23 (Reuters) - French President Emmanuel Macron will on Thursday inaugurate a 2.1 billion euro ($2.3 billion) investment by Danish pharmaceutical company Novo Nordisk (NOVOb.CO) in France, his office said, pitching it as a sign of newly restored French industrial competitiveness. The investment, for which no detail was provided by Macron's office, will be based in Chartres, west of Paris, where Novo already employs nearly 2,000 people. The Elysee palace deemed it the most significant investment in the health sector of Macron's mandates so far and said it would create 500 jobs. ($1 = 0.9168 euros)Reporting by Michel Rose, Editing by Dominique VidalonOur Standards: The Thomson Reuters Trust Principles.

Persons: Tom Little, Emmanuel Macron, Michel Rose, Dominique Vidalon Organizations: Novo Nordisk, REUTERS, Rights, Thomson Locations: Danish, Hillerod, Denmark, France, Chartres, Paris

The company's research and development (R&D) engine is intact and therefore it is unlikely to do transformative deals soon, Jorgensen said. It was the latest in a series of similarly-sized deals the company has done this year. Last week, when reporting quarterly earnings, it forecast another year of double-digit sales growth for its two most popular drugs: weight-loss drug Wegovy and diabetes Ozempic. To keep up with demand, Novo is racing to increase production of those drugs, which contain the same active pharmaceutical ingredient, semaglutide, and are delivered in self-injection pens. A healthcare banker, speaking on condition of anonymity, told Reuters after the interview there were many companies in the cardiometabolic space with early-stage drugs that Novo Nordisk may be able to buy.

Persons: Lars Fruergaard Jorgensen, Wegovy, Jorgensen, Novo, Novo's, Jacob Gronholt, Maggie Fick, Terje Solsvik, Emelia, Barbara Lewis Organizations: Novo, Novo Nordisk, Reuters, KBP Biosciences, Nordisk, Pedersen, Thomson Locations: Novo, COPENHAGEN, Singapore, Copenhagen, London

☆ How Ozempic Maker Novo Nordisk’s Very Danish Capitalism Fueled Its Success, and Its Stumbles
▼ + stars: | 2023-11-07 | by ( Sune Engel Rasmussen | Photographs Charlotte De La Fuente For The Wall Street Journal | ) www.wsj.com time to read: 1 min

BAGSVÆRD, Denmark—Every rank-and-file employee at drugmaker Novo Nordisk calls the chief executive by his first name, Lars. Hallways and offices fall silent around 5 p.m., when workers leave to pick up their children or commute home, many by bicycle. Fueled by blockbuster sales of drugs used for obesity, this very Danish company is now one of the world’s most valuable. As of Friday, the company’s market capitalization was roughly $439 billion—more than Pfizer, Lockheed Martin and Starbucks combined. In September, it overtook LVMH, the French luxury-goods firm, as Europe’s biggest company by market capitalization.

Persons: Lars, Lockheed Martin, LVMH Organizations: Denmark —, drugmaker Novo Nordisk, Pfizer, Lockheed, Starbucks, Europe’s Locations: BAGSVÆRD, Denmark, Danish

☆ Priced for earnings recession, European equities could weather storm
▼ + stars: | 2023-10-17 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

After a long period of scepticism towards European equities, some investors and analysts are finding cause for optimism. European companies are expected to enter their first earnings recession - two consecutive quarters of falling earnings - since 2020. But European stocks are better priced for a recession than their U.S. counterparts, said Matthew McLennan, co-head of First Eagle’s Global Value team. First Eagle's McLennan said the weaker euro in part supported the outlook for European equities. "There's some possibility that European equities, by both their valuation and their currency valuation, could do better than U.S. equities over a period of time".

Persons: Jefferies, Mohit Kumar, LSEG, Matthew McLennan, Goldman Sachs, Oliver Collin, Europe's, Collin, LVMH, Ayesha Akbar, Eagle's McLennan, Joice Alves, Mark Potter Organizations: Silicon Valley Bank, Credit Suisse, Deutsche Bank, U.S, drugmaker Novo Nordisk, Fidelity, Thomson Locations: Frankfurt, Silicon, Germany, U.S

☆ Fresenius Medical: effect of drugs like Ozempic on patient numbers is neutral
▼ + stars: | 2023-10-12 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Pens for the diabetes drug Ozempic sit on a production line at Danish drugmaker Novo Nordisk's site in Hillerod, Denmark, September 26, 2023. "Based on currently available clinical data and scientific evidence, Fresenius Medical Care assesses the overall effect of GLP-1 analog use on its own patient flow model as neutral," it said in a statement to Reuters. Novo said on Wednesday that the Ozempic trial was stopped ahead of schedule because independent supervisors had ruled the drug's positive effect on chronic kidney disease had become clear enough. In its statement, Fresenius Medical said that the early termination of the study, known as FLOW, does not allow for clear conclusions. Earlier on Thursday, rival DaVita (DVA.N) said that Novo's FLOW trial would only have a limited impact on overall dialysis patient numbers.

Persons: Tom Little, DaVita, Novo, Fresenius, Ludwig Burger, Jane Merriman, Kirsten Donovan Organizations: REUTERS, Rights, Novo Nordisk's, Reuters, Thomson Locations: Hillerod, Denmark

☆ LVMH sales growth loses fizz as post-pandemic splurge wanes
▼ + stars: | 2023-10-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Bello Acquire Licensing RightsPARIS, Oct 10 (Reuters) - Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as a strong wave of post-pandemic spending eases due to rising inflation and economic turbulence. “After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average", LVMH chief financial officer Jean-Jacques Guiony told analysts. The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth. LVMH is the first major global luxury firm to report earnings this quarter and gives investors an insight into what to expect from rivals.

Persons: Louis Vuitton, Marco Bello, Jean, Jacques Guiony, Tiffany, Bulgari, Hennessy, Luca Solca, Bernstein, Guiony, Mimosa Spencer, Ingrid Melander, Josie Kao Organizations: Miami Design District, REUTERS, Rights, Dior, Champagne, drugmaker Novo Nordisk, U.S ., Thomson Locations: Miami , Florida, U.S, United States, Europe, China

☆ LVMH Q3 revenue rises 9%, slowing from post-pandemic frenzy
▼ + stars: | 2023-10-10 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Bello Acquire Licensing RightsPARIS, Oct 10 (Reuters) - Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as strong wave of post-pandemic spending eases up amid a backdrop of rising inflation and economic turbulence. LVMH, which owns labels including Louis Vuitton, Dior, Tiffany and Bulgari, said that revenue came to 19.96 billion euros ($21.16 billion), up 9% year-on-year, stripping out the effect of currency fluctuations and acquisitions. The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth. LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending euphoria, while the recovery in China has been uneven.

Persons: Louis Vuitton, Marco Bello, Tiffany, Bulgari, Hennessy, LVMH, Luca Solca, Bernstein, Mimosa Spencer, Ingrid Melander, Josie Kao Organizations: Miami Design District, REUTERS, Rights, Dior, Champagne, drugmaker Novo Nordisk, Thomson Locations: Miami , Florida, U.S, United States, Europe, China

☆ How Ozempic and Wegovy turned Novo Nordisk into a $400 billion company
▼ + stars: | 2023-10-10 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Danish drugmaker Novo Nordisk has entered a new chapter in its 100-year history — thanks to its newfound success with two products: Ozempic and Wegovy. Their skyrocketing popularity has boosted Novo Nordisk to new heights. Novo Nordisk's share price has more than quadrupled in the past five years, making it Europe's most valuable company by market cap. "It's clear that nobody had expected that it would be taking off this quickly," said Novo Nordisk CEO Lars Fruergaard Jørgensen in August. In 2018, the first full year with Ozempic on the market, Novo Nordisk's net sales were 111.8 billion Danish krone, or $17.7 billion, using an average exchange rate at the time.

Persons: Lars Fruergaard Jørgensen, Ozempic, Jared Holz, Semaglutide, Eli Lilly, Mounjaro Organizations: Nordisk, Novo Nordisk, Nordisk's, Novo Nordisk's, Trilliant Health, Mizuho, Pfizer, Food and Drug Administration

☆ Novo Nordisk stops Ozempic kidney trial after early signs of success
▼ + stars: | 2023-10-10 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

Pens for the diabetes drug Ozempic sit on a production line to be packaged at Danish drugmaker Novo Nordisk's site in Hillerod, Denmark, September 26, 2023. Novo said the trial would be halted almost a year early based on a recommendation from the independent data monitoring board overseeing the study. Independent monitors can recommend stopping a trial early if there is clear evidence that a drug was going to succeed or fail based on interim analyses. Semaglutide is also the active ingredient in Novo Nordisk's powerful weight-loss drug Wegovy. Novo's success has also created an economic boom for Denmark, according to Danish economists, analysts, and executives at the Novo Nordisk Foundation.

Persons: Tom Little, Novo, Danish drugmaker, Wegovy, Emily Field, Patrick Wingrove, Sriparna Roy, Bill Berkrot Organizations: REUTERS, Novo Nordisk, Barclays, Novo Nordisk Foundation, Thomson Locations: Hillerod, Denmark, Danish, New York, Bengaluru

"The recent decline in European luxury stocks reflects the uncertainty over the European economy and also the uneven growth outlook for the Chinese economy," Garnry said. Reuters GraphicsTHE LUXURY GAPAlthough luxury valuations have come down, they are still well above the rest of the market. The end of the French luxury group's 2-1/2 year-long reign was widely put down to investors losing appetite for luxury stocks as well as the growth of Novo's anti-obesity drug Wegovy. Some analysts have turned cautious on the luxury sector, with UBS last week reducing its estimates to account for the risk of slowing Chinese consumption. Gerry Fowler, head of European equity strategy and global derivative strategy at UBS, said risks in luxury stocks started to become more apparent in May.

Persons: Louis, Stephanie Lecocq, Bernard Ahkong, Peter Garnry, Garnry, LVMH, Morgan Stanley, Gerry Fowler, Bernstein, Gilles Guibout, Lucy Raitano, Mimosa Spencer, Amanda Cooper, Alexander Smith Organizations: REUTERS, Paris Fashion, U.S, UBS O'Connor Global, Alpha, Saxo Bank, Reuters Graphics, GAP, Novo Nordisk, UBS, Bank of America, AXA Investment Mangers, Thomson Locations: Paris, France, PARIS, Europe, U.S, China, United States

☆ Novo Nordisk owner readies for big Wegovy windfall
▼ + stars: | 2023-10-03 | by ( Maggie Fick | ) www.reuters.com time to read: +4 min

COPENHAGEN, Oct 3 (Reuters) - The CEO of Novo Holdings said on Tuesday the controlling shareholder of Danish drugmaker Novo Nordisk (NOVOb.CO) is ready for a huge windfall from the runaway success of weight-loss drug Wegovy. Novo Holdings invests and manages the wealth and assets of the Novo Nordisk Foundation, whose newly bulging coffers could make it a major philanthropist and environmental, social and governance (ESG) investor. He was speaking to a group of journalists in Copenhagen, where the investment company, its owner Novo Nordisk Foundation, and the drugmaker Novo Nordisk are all headquartered. [1/4]Novo Holdings A/S CEO Kasim Kutay speaks at Novo Nordisk Foundation in Hellerup, Denmark, October 3, 2023. Novo Holdings' early-stage investments team now has $200 million to deploy each year, Soren Moller, who heads the seed division, told Reuters.

Persons: Kasim Kutay, Wegovy, Kutay, I've, Morgan Stanley, Ali Withers, Peter Lawaetz Andersen, Andersen, Soren Moller, Maggie Fick, Josephine Mason, Louise Heavens, Catherine Evans Organizations: Novo Holdings, Novo Nordisk, Novo Nordisk Foundation, The Foundation, Holdings, Moelis, REUTERS, Foundation, Norway's Coalition, Reuters, Thomson Locations: COPENHAGEN, Danish, Copenhagen, Novo, United States, Hellerup, Denmark, Shanghai, China, Singapore, Boston, San Francisco

As the subjects of a preliminary investigation, neither Arnault nor Sarkisov are suspects and neither has been accused of wrongdoing. The investigation, apparently ongoing, will not fail to prove this.”“Besides, who can seriously imagine that Mr Bernard Arnault, who has built the leading French and European company over 40 years, would engage money laundering to expand a hotel?” Laffont added. CNN has contacted Tracfin and Sarkisov for comment. LVMH is once again Europe’s biggest company by market capitalization, after being briefly dethroned last month by Danish drugmaker Novo Nordisk (NVO). Arnault’s company encompasses luxury fashion and drinks brands such as Louis Vuitton and Moet & Chandon.

Persons: London CNN —, Bernard Arnault, ”, Arnault, Nikolai Sarkisov, Tracfin, Sarkisov, Arnault’s LVMH, Arnault’s, Jacqueline Laffont, Cheval, Laffont, Le, “, Elon Musk, Louis Vuitton, Moet, Chandon Organizations: London CNN, Paris Public Prosecutor’s Office, CNN, SNC, Bloomberg, Elon, Europe’s, Danish drugmaker Novo Nordisk Locations: Paris, London, Russian, Sarkisov, Courchevel, Blanc, Cheval Blanc, “, Danish

☆ Novo Nordisk owner invests $290 million in energy transition fund
▼ + stars: | 2023-09-14 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

FILE PHOTO-A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsCompanies Novo Nordisk A/S FollowLONDON, Sept 14 (Reuters) - The controlling shareholder in drugmaker Novo Nordisk on Thursday announced a major investment in a new energy transition fund as it expands its portfolio beyond health. Novo Holdings controls 76% of the votes in Denmark's Novo Nordisk (NOVOb.CO), which became Europe's most valuable company last week on the back of soaring profits from its weight-loss drug Wegovy and type 2 diabetes drug Ozempic. Novo Holdings' capital to invest is burgeoning on Novo Nordisk's financial performance. Novo Holdings is wholly owned by the Novo Nordisk Foundation, which lists its aims as providing "a stable basis for the commercial and research activities conducted by the companies within the Novo Group", of which Novo Nordisk is the largest, and supporting "scientific, humanitarian, and social purposes."

Persons: Jacob Gronholt, Pedersen, Morten Beck Jorgensen, " Jorgensen, Maggie Fick, Amanda Cooper, Elaine Hardcastle Organizations: Novo Nordisk, REUTERS, drugmaker Novo Nordisk, Novo Holdings, Denmark's, Denmark's Novo Nordisk, Holdings, Glentra Capital, Glentra, Reuters, Novo, Novo Nordisk Foundation, Thomson Locations: Copenhagen, Denmark, drugmaker Novo, Denmark's Novo, Glentra Capital

☆ Morning Bid: Shedding pounds, buying dollars
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 29, 2023. Investors are also focusing on English football club Manchester United (MANU.N), whose shares fell 18% on Tuesday in their steepest one-day decline. Brent crude is above $90 a barrel after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Weakness in demand will be the focus of data today as Germany releases July manufacturing data and the euro zone shows us what retailers were doing in July. Not much, going by the share price of French luxury group LVMH (LVMH.PA), which was just dethroned from pole position in Europe's most-valuable list.

Persons: Vidya Ranganathan, Glazer, Sterling, Philip Morris, Brent, Edmund Klamann Organizations: REUTERS, Staff, Vidya, Investors, English, Manchester United, Unilever Capital Corp, Philip Morris International, Volkswagen, Labor, Canada BOC, Thomson Locations: Frankfurt, Germany, Danish, Saudi Arabia, Russia, Europe's, Poland, U.S, Canada

☆ Shares, oil rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October. Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, I'm, Craig Erlam, we're, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema, Ed Osmond Organizations: Federal Reserve, Country Garden, Lazard, Investor, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, European Central Bank, Brent, Thomson Locations: United States, Beijing, China, Europe, U.S, Saudi Arabia, Sydney

☆ Shares, commodities rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.1%, having climbed 2.3% last week, thanks in large part to a 1.3% rise in Chinese blue chips (.CSI300). S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, gold benefited from the diminished risk of a U.S. rate rise to stand at $1,940 an ounce . Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema Organizations: Federal Reserve, Country Garden, Lazard, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: China, United States, Beijing, Asia, Pacific, Japan, drugmaker Novo, Canada, Australia, U.S, Saudi Arabia

"Whether this bounce will continue remains to be seen, but it has given China equities a shot in the arm." S&P 500 futures and Nasdaq futures both edged up 0.1%, while stocks in Europe opened on a strong footing. "The soft landing crowd will be pleased that the labour market is softening without much stress at the moment," Deutsche Bank strategist Jim Reid. Any path to a hard landing, outside of a shock, has to go via signs of a soft landing first," he said. Brent crude futures were steady on the day at $88.50 a barrel, while U.S. futures were also flat at $85.55.

Persons: Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Federal Reserve, Country Garden, RBC Capital Markets, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: U.S, China, SYDNEY, United States, Beijing, Shanghai, Asia, Pacific, Japan, Europe, drugmaker Novo, Canada, Australia, Saudi Arabia

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