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☆ Novo Nordisk extends U.S. supply curbs on weight-loss drug Wegovy
▼ + stars: | 2023-08-10 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +3 min

The news came as the Danish drugmaker raised its full-year profit and sales forecasts for a second time. Wegovy is a weekly injection that can help patients to shed 15% of their weight alongside diet and exercise changes. Reuters has reported that larger doses are also in short supply, which Novo has denied. Many analysts had expected Novo to raise earnings guidance, given the huge U.S. demand for the weekly injection. The company also warned that it expected "continued periodic" supply constraints and drug shortages across a number of products and geographies.

Persons: Jacob Gronholt, Pedersen, Ozempic, Lars Fruergaard Jorgensen, Novo, " Jorgensen, Henrik Hallengreen Laustsen, Laustsen, Nikolaj Skydsgaard, Josephine Mason, Mark Potter Organizations: Novo Nordisk, REUTERS, Reuters, World Health Organization, Jyske Bank, Thomson Locations: Novo, Copenhagen, Denmark, U.S, COPENHAGEN, Danish

Although insulin list prices are high in the U.S., drugmakers typically pay substantial rebates to private insurers and government programs, resulting in lower prices for most Americans with insurance. U.S.-listed Novo Nordisk shares rose as much as 1.7% to $142.95, while Denmark-listed shares closed marginally higher on Tuesday. Eli Lilly shares were down slightly. "I think it is a relatively natural consequence of what we have seen their competitor Eli Lilly do. Eli Lilly, Sanofi and Novo Nordisk make up 90% of the U.S. market for insulin.

☆ Novo Nordisk joins Lilly in plans to slash U.S. insulin prices
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Novo Nordisk (NOVOb.CO) said on Tuesday it would cut U.S. list prices for several insulin drugs by up to 75% next year, joining rival Eli Lilly as drugmakers come under pressure for high prices of the life-sustaining treatment. The moves follow President Joe Biden's Inflation Reduction Act last year that capped insulin prices for Medicare recipients at $35 per month, but that does not extend to patients without insurance. Novo will reduce the list price of its NovoLog insulin by 75%, and for Novolin and Levemir by 65%. The company also said it would reduce the list price of unbranded insulin products to match lowered price of respective branded insulin products. Eli Lilly and Co (LLY.N) said earlier this month that it would cut the list prices for its most commonly prescribed insulin products by 70% from the fourth quarter of this year.

☆ Carlsberg CEO Hart's retirement plan triggers share fall
▼ + stars: | 2023-03-07 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

Hired in 2015, partly to help restore sluggish sales in its Eastern Europe division, including Russia, Hart has successfully overseen Carlsberg's SAIL'22 strategy, which focused on cutting costs and improve sales of more premium beer brands. Carlsberg said in a statement that Hart planned to leave by the end of the third quarter. "Cees 't Hart has delivered remarkable results during his time at Carlsberg," Supervisory Board Chair Henrik Poulsen said. "He has really been a significant person in the transformation that has taken place, it's been very impressive to witness," Laustsen added. It is seeking an option with the buyer to buy back the Russian business in future.

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