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☆ The bridge collapse shut down shipping traffic at Baltimore's port 'until further notice'
▼ + stars: | 2024-03-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The bridge's collapse led to all shipping traffic in and out of the port being suspended. Maersk, the shipping giant, is transporting cargo set for Baltimore by road instead. AdvertisementThe bridge collapse in Baltimore is having a significant impact on the city's port, one of the nation's busiest. It added that for ships already on the water, cargo set for Baltimore would be taken to other ports and then moved on land. "Please note that for cargo set to discharge in Baltimore, delays may occur, as they will need to discharge in other ports.

Persons: —, Francis Scott Key, Paul Wiedefeld, Maersk Organizations: Maersk, Service, Baltimore Locations: Baltimore, Patapsco, Maryland, Danish

☆ What we know about the ship that crashed into and took down the Maryland bridge
▼ + stars: | 2024-03-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

The ship that crashed into the Francis Scott Key Bridge on Tuesday was the Dali, a Singapore-flagged vessel. The container ship is about 984 feet long and up to 157 feet wide, while the bridge is part of I-695. AdvertisementA container ship crashed into a key bridge in Baltimore on Tuesday morning, causing part of the structure to collapse into the Patapsco River. A livestream showed vehicles traveling on the Francis Scott Key Bridge just moments before the impact at around 1:28 a.m., indicating that the collapse caught at least several people. According to ship tracking data, the vessel is a Singapore-flagged container ship called the Dali.

Persons: Francis Scott Key, Dali, —, It's, Matthew West, Grace Ocean Organizations: Service, Associated Press, Coast Guard, New York Times, Synergy, Maersk, Dali, Staff, Grace, Business Insider, BI, Hyundai Heavy Industries Locations: Singapore, Baltimore, Patapsco, Danish, South Korea, Colombo, Sri Lanka, Antwerp

The Biden administration greenlit the seventh large offshore wind project in the United States Tuesday. Danish wind energy developer Ørsted and the utility Eversource plan to build a 924-megawatt project, Sunrise Wind, 30 miles (48 kilometers) east of Montauk, New York. This month, the companies opened the nation's first commercial-scale offshore wind farm. They announced their financial commitment to the Sunrise Wind project when the Interior Department issued its decision. The Biden administration wants enough offshore wind energy to power 10 million homes by 2030.

Persons: greenlit, Ørsted, Chuck Schumer, Biden, Deb Haaland Organizations: Biden, Interior Department, U.S, Sunrise, Associated Press Locations: United, Montauk , New York, York, Montauk, Fork, AP.org

☆ Cars, sugar and cruises: How the Port of Baltimore closure could hurt the economy
▼ + stars: | 2024-03-26 | by ( Mark Thompson | Chris Isidore | ) edition.cnn.com time to read: +8 min

The Port of Baltimore said in a post on X that vessel traffic was suspended until further notice, but trucks were still being processed at its terminals. It said it would discharge cargo destined for Baltimore in other ports nearby, but Maesrk warned customers that could mean delays. Closer to the Midwest than any other port on the East Coast, Baltimore is a major hub for vehicles, containers and commodities. Baltimore ranks first among US ports for autos and light trucks, handling a record 850,000 vehicles last year. While many of the 30,000 to 35,000 cars and trucks that used the Key Bridge daily can be rerouted through the two nearby tunnels, that will cause traffic delays.

Persons: Dali, Judah Levine, ” Maersk, “, VW, Oren Klachkin, Levine, Mark Zandi, ”, Zandi, Wes Moore, Joe Biden, Francis Scott Key, Tasos Katopodis, — Moore, Emily Stausbøll, Matt Lupoli, Hanna Ziady, Peter Valdes, Rob North, Sugam Pokharel Organizations: New York CNN, Baltimore, Atlantic, Nationwide Financial, US, Moody’s, Maryland Gov, Rebuilding, Francis Scott Key Bridge, Domino, Company, Royal Caribbean, Cruises, Cruise, Cruise Lines International Association, Royal Locations: London, New York, Port, Baltimore, East Coast, Singapore, East Coast , Baltimore, Philadelphia, Norfolk, of New York, New Jersey, Asia, Africa, Suez, Maryland, Patapsco, Rebuilding Baltimore, Baltimore , Maryland, Tasos, “, Norway, Royal Caribbean

☆ Shipping giant Maersk confirms it chartered ship that collided with Baltimore bridge
▼ + stars: | 2024-03-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A US Coast Guard helicopter flies over the Dali container vessel after it struck the Francis Scott Key Bridge that collapsed into the Patapsco River in Baltimore, Maryland, US, on Tuesday, March 26, 2024. The commuter bridge collapsed after being rammed by the Dali ship, causing vehicles to plunge into the water. Photographer: Al Drago/Bloomberg via Getty ImagesDanish shipping giant Maersk on Tuesday confirmed it had chartered the container ship which crashed into the Francis Scott Key Bridge in the U.S. city of Baltimore in the early hours of the morning. The bridge partially collapsed following the incident, which occurred at 1:35 a.m. local time Tuesday, according to local officials. We can confirm that the container vessel "DALI", operated by charter vessel company Synergy Group, is time chartered by Maersk and is carrying Maersk customers' cargo," the company said in a statement.

Persons: Francis Scott Key, Dali, Al Drago, DALI Organizations: US Coast Guard, Bloomberg, Getty Images, Maersk, Synergy Group, Synergy Locations: Dali, Patapsco, Baltimore , Maryland, U.S, Baltimore, London

Read previewA container ship crashed into a major bridge in Baltimore early Tuesday, causing its collapse into the Patapsco River. Baltimore first responders called the situation a "developing mass casualty event" and a "dire emergency," per The Associated Press. pic.twitter.com/ipoTR2HljY — Harford Co., MD Fire & EMS (@HarforCoFireEMS) March 26, 2024The vessel is the Dali, a Singapore-flagged container ship about 984 feet long, and 157 feet wide, per a listing on VesselFinder. The Dali's owner is listed as Grace Ocean, a Singapore-based firm, and its manager is listed as Synergy Marine, which is also headquartered in Singapore. AdvertisementStaff for Grace Ocean declined to comment on the crash when contacted by Business Insider.

Persons: —, Francis Scott Key, James Wallace, Wallace, Richard Worley, Wes Moore, Pete Buttigieg, Moore, Baltimore Francis Scott Key, ipoTR2HljY —, Dali, Grace Ocean, Barbara Rossi, Claudia Norrgren, it'll Organizations: Service, Baltimore, Associated Press, Business, Sonar, Biden Administration, Volunteer Firefighters, Volunteer Swift Water Team, Team, Unified Command, ipoTR2HljY — Harford Co, Synergy, Shipping, Staff, Grace, Maersk, Dali, University of Oxford, Hyundai Heavy Industries, Port Locations: Baltimore, Patapsco, Maryland, @jmvfc8, Singapore, Danish, Colombo, Sri Lanka, Port, South Korea, Antwerp

☆ Novo Nordisk strikes deal worth up to $1.1 billion to expand cardio business
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +1 min

A view of the logo of Novo Nordisk at the company's office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024. Denmark's Novo Nordisk said on Monday it had agreed to buy Cardior Pharmaceuticals for up to 1.03 billion euros ($1.1 billion) to strengthen its cardiovascular pipeline. The deal is in line with Novo's aim to expand its focus on diabetes and weight-loss therapies to include cardiovascular disease treatments. The Danish company has rocketed to become one of the world's most valuable companies on the back of its hugely popular weight-loss treatment Wegovy. The deal includes Cardior's lead compound CDR132L, currently in intermediate Phase II clinical trials for the treatment of heart failure, Novo said.

Persons: Novo, CDR132L Organizations: Novo Nordisk, Denmark's, Nordisk, Cardior Pharmaceuticals Locations: Bagsvaerd, Copenhagen, Denmark, Danish, Novo

And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

☆ High maintenance 'prima donna' F-16 jets will be hard work for Ukraine, former US Marine pilot says
▼ + stars: | 2024-03-23 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

Ukraine is due to receive much-anticipated F-16 fighter jets from its Western allies. He said the jets are much more "high maintenance" than the Soviet-era aircraft Ukraine is used to. AdvertisementAs Ukraine awaits the long-anticipated delivery of F-16 jets from its Western allies, experts warn that it may face challenges operating the "high maintenance" aircraft. AdvertisementYuriy Ihnat, a spokesperson for the Ukrainian Air Force, told Politico that some changes would be needed for Ukraine to operate the F-16 Fighting Falcons. AdvertisementA cohort of Ukrainian pilots began training on the F-16 in Denmarks's Skrydstrup Air Base last August, Reuters reported.

Persons: —, Tom Richter, Yuriy Ihnat, Lockheed Martin, Troels Lund Poulsen Organizations: Marine, Service, US Marine, National Guard, Politico, Ukrainian Air Force, Fighting Falcons, Falcons, US Air Force, Lockheed, Air Force's, US, Air Base, Reuters, New York Times, Ukrainian, Royal Air Force, French Air Force, The Times, Nokia, Times Locations: Ukraine, Soviet, Denmark, Netherlands, Ukrainian, Kyiv, Russian

☆ ‘Alarm bells are ringing’: Poland’s president says NATO must urgently ramp up defense spending
▼ + stars: | 2024-03-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Polish President Andrzej Duda speaks to members of the media following a meeting with U.S. President Joe Biden at the White House on March 12, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPolish President Andrzej Duda said Monday that NATO must urgently increase its defense spending to ensure it does not become the next target of a Russian attack. Duda said it was therefore more critical than ever to ramp up the alliance's military investment, describing his increased spending targets as "common sense." The Polish president, whose country shares a land border with Ukraine, has spearheaded calls to supply weapons to Kyiv since the onset of Russia's full-scale invasion. During a meeting with U.S. President Joe Biden last week, Duda called for NATO to raise its minimum military spending target to 3% of GDP to further strengthen the alliance's defenses.

Persons: Andrzej Duda, Joe Biden, Kevin Dietsch, Duda, Vladimir Putin, CNBC's Steve Sedgwick, Donald Tusk, Tusk, Putin, it's Organizations: U.S, White, Getty, NATO, CNBC, Polish, U.S . House Locations: Washington , DC, Moscow, Ukraine, Poland, U.S, Sweden, Congress, Russia

GENEVA (AP) — The U.N. weather agency is sounding a “red alert” about global warming, citing record-smashing increases last year in greenhouse gases, land and water temperatures and melting of glaciers and sea ice, and warning that the world's efforts to reverse the trend have been inadequate. “The latest State of the Global Climate report shows a planet on the brink. Fossil fuel pollution is sending climate chaos off the charts.”The latest WMO findings are especially stark when compiled in a single report. WMO said the impact of heatwaves, floods, droughts, wildfires and tropical cyclones, exacerbated by climate change, was felt in lives and livelihoods on every continent in 2023. And so, nothing gets done.”___Borenstein reported from Washington, D.C.___The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations.

Persons: ”, Celeste Saulo, “, ” U.N, Antonio Guterres, Topping, Jonathan Overpeck, wasn’t, Saulo, Kathy Jacobs, Andrew Weaver, ’, ___ Borenstein Organizations: GENEVA, World Meteorological Organization, WMO, Service, University of Michigan School for Environment, Sustainability, University of Arizona, University of Victoria, British Columbia, Washington , D.C, Associated Press Locations: “ State, Paris, Copenhagen, British, Washington ,, AP.org

☆ Weight loss drugs like Ozempic and Wegovy are fattening up Denmark's economy and helped it dodge a recession last year
▼ + stars: | 2024-03-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Danish pharma giant Novo Nordisk makes both Ozempic and Wegovy. The novel drugs are also boosting pharma stocks — and Denmark's economy. Advertisement"The pharmaceutical industry has been the main driving force in the Danish economy in both the fourth quarter and for the whole of 2023," the agency said. Genmab, Zealand Pharma, and H. Lundbeck are among the other big Danish pharma firms. AdvertisementSuch businesses were a rare bright spot for Denmark's economy last year because they invested in infrastructure, created jobs, and boosted manufacturing, according to Danske Bank's chief economist Las Olsen.

Persons: —, it's, Las Olsen, Olsen Organizations: Danish pharma, Novo Nordisk, Service, Nordisk, Zealand Pharma Locations: Denmark, Danish, Copenhagen

☆ Space travel company to offer Michelin Star meals in the stratosphere for almost $500,000 a head
▼ + stars: | 2024-03-16 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Space travel company SpaceVIP is mingling fine dining with a new suborbital voyage. Guests will watch the sun rise over the Earth's curvature — for almost $500,000 a head. Danish chef Rasmus Munk is designing a decidedly spacey menu. AdvertisementA luxury space travel company is set to mingle fine dining with suborbital travel. SpaceVIP has partnered with Danish chef Rasmus Munk to design a menu for a six-hour voyage above the Earth via space balloon, Bloomberg reports.

Persons: Rasmus Munk, spacey, —, SpaceVIP Organizations: Service, Bloomberg, Business Locations: Danish

America's first commercial-scale offshore wind farm is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. The Biden administration has approved six commercial-scale offshore wind energy projects, and auctioned lease areas for offshore wind for the first time off the Pacific and Gulf of Mexico coasts. Ørsted CEO Mads Nipper called the opening a major milestone that proves large offshore wind farms can be built, both in the United States and in other countries with little or no offshore wind energy currently. The first U.S. offshore wind farm was supposed to be a project off the coast of Massachusetts known as Cape Wind. The nation's second large offshore wind farm, Vineyard Wind, is expected to open later this year off the coast of Massachusetts, too.

Persons: Ørsted, Kathy Hochul, Deb Haaland, Biden, Hochul, “, ” Hochul, Eversource, Mads Nipper, Equinor, David Hardy, Ørsted . Ørsted, It’s, it’s, Haaland Organizations: Montauk Point , New York . New York Gov, . New York, Fork, Associated Press, Ørsted ., DONG Energy, Danish Oil, Gas, Industry, Copenhagen Infrastructure Partners Locations: Montauk Point , New York ., Gulf of Mexico, . New, York, Rhode Island, Long, United States, New York, Norwegian, Denmark, Germany, U.S, Massachusetts, Avangrid, Copenhagen, AP.org

☆ Parents bought way fewer toys last year — except for 1 classic
▼ + stars: | 2024-03-12 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Despite the "most negative toy market in 15 years," Lego said consumer sales grew 4% last year. The Danish toy icon outperformed competitors like Mattel and Hasbro. Toys are cheaper than ever, much to the chagrin of millennial parents. It's a brutal climate for toymakers, but Lego said it outpaced the market in 2023, with consumer sales growing 4%. "We are pleased with our performance given that 2023 was the most negative toy market in more than 15 years," Niels B. Christiansen, CEO of the Danish toy icon, said in a statement.

Persons: —, Niels B, Christiansen Organizations: Mattel, Hasbro, Service, Business Locations: Danish

☆ The dominance of the US economy and the stock market in 4 charts
▼ + stars: | 2024-03-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The US economy has grown dramatically and powered its stock market in recent decades. "The longer-term rise in the relative size of the US equity market has reflected the dominance of the US economy," strategists wrote. Similarly, the prolonged increase in the US markets' relative total size reflects the dominance of the US economy, according to Goldman Sachs. Goldman SachsThe growth factorThe strength of the American stock market can be traced largely to its high volume of growth names. AdvertisementThe US stock market has more exposure to fast-growing companies than other countries.

Persons: Goldman Sachs, —, it's, Peter Oppenheimer, Goldman Organizations: Service, Federal Reserve, Exxon, Mobil, Ford, General Electric, IBM, Novo Nordisk Locations: Switzerland, Denmark, Novo, Danish

☆ Lego revenue ticks higher in 2023, despite trade-downs and China pullback
▼ + stars: | 2024-03-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The Lego company grew sales 2% last year, even as the global toy industry saw sales slip 7%, according to data from Circana. The pandemic-era gains that fueled exponential toy industry sales growth waned in 2023 as consumers cut discretionary spending amid rising inflationary costs and increased credit card debt. Meanwhile Denmark-based Lego posted resilient sales, with revenue reaching 65.9 billion Danish krone, or about $9.65 billion, it said Tuesday. The company saw sales jump 27% in 2021 and 17% in 2022. The toymaker's top-performing brands last year included Lego Icons, Lego Technic, Lego City, Lego Harry Potter and Lego Star Wars.

Persons: Niels Christiansen, Harry Potter, Christiansen, Lego, We're Organizations: CNBC, Lego, Lego Star, Epic Games Locations: Denmark, Lego City, China

☆ Lego revenue grows 2% in 2023, as CEO hails 'very, very strong' U.S. progress
▼ + stars: | 2024-03-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). "It was a difficult year," Lego CEO Niels Christiansen told CNBC. The Danish toymaker said operating profit declined slightly from 17.9 billion Danish krone to 17.1 billion, noting that it had boosted spending on strategic initiatives designed to drive growth. Net profit came in at 13.1 billion Danish krone in 2023, compared to 13.8 billion the previous year. Toy company Hasbro earlier this month said its 2023 revenue fell by 15% compared to 2022 and that it expected to see a further decline this year.

Persons: Lego, Niels Christiansen, toymaker Organizations: CNBC, Toy, Hasbro Locations: China, U.S, Europe

Those more concerned with the climate crisis are asking a bigger question: what does this all mean for the planet? Gas-powered cars, hybrids and EVs all emit roughly the same amount of pollution to manufacture, until you get to producing the battery. Fully electric cars use large batteries made of materials that require heavy mining. And that would still mean less climate pollution on the road overall. And fully electric cars won’t be truly “green” until the energy that charges them comes from renewable sources, like wind and solar.

Persons: Akio Toyoda, EVs, Joe Biden’s, Toyota’s, Daniel Sperling, —, ”, Sam Abuelsamid, Abuelsamid, InfluenceMap, Biden, Kelley, Albert Gore, Gore, I’m, “, ” Monica Nagashima, Lia, Kena, Stephen Ciccone, ” Ciccone, BEV, ” UC’s Sperling Organizations: CNN, Toyota, Auto, US, Toyota Prius Prime, Toyota Toyota, Institute of Transportation Studies, University of California, Ford, EPA, Gas, American Council for, Prius, EV, InfluenceMap, United, Lexus, Cox Automotive, Zero Emission Transportation Association, Getty, Toyota Motor North America, ” Toyota Locations: California, West Virginia, Canada, Australia, United States, EVs, InfluenceMap’s, Japan, Rockland, Blauvelt , New York

☆ The incredible story of how POWs played golf at the ‘Great Escape’ prison camp
▼ + stars: | 2024-03-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +11 min

In comparison to other POW camps under German control, captives at Stalag Luft III received “excellent” treatment for the majority of the war, according to a 1944 US Military Intelligence Service (MIS) report. The rubber from such items would wrap around the core and then be cased within leather stripped from shoes — a process eerily reminiscent of “featheries,” some of the earliest post-wooden golf balls ever made. Immortalized in a book and then a film of the same name, what became known as the “The Great Escape” wasn’t even the first breakout at Stalag Luft III. When three prisoners made a successful escape, suspicious German eyes homed in on the golf course and its sprawling mounds and greens. In 1979, he donated two balls he made while in Stalag Luft III to the USGA Golf Museum, artifacts that headline its exhibit on golf during the Second World War.

Persons: — “, Stalag Luft, —, “, ”, John Strege, Pat Ward, Thomas, Victoria Nenno, ” Nenno, Tee, Sydney Smith, Smith, Ward, John Mummert, Thomas ’, Sagan, Stalag, Roger Bushell’s, Tom, ” “ Dick, Harry ” —, Adolf Hitler Organizations: CNN, Luftwaffe, British Royal Air Force, RAF, United States Army Air Force, Military Intelligence Service, Geneva Convention, USGA Golf, PGA, Stalag Luft, USGA Museum, Ward, Thomas, USGA, RAF Squadron, Guardian, USGA Golf Museum Locations: Nazi Germany, Berlin, Zagan, Poland, Norway, New Zealand, Geneva, Netherlands, New Jersey, Ward, Germany, —, England

☆ I moved from Denmark to the US. I prefer the US, but there are some things the Danish do better.
▼ + stars: | 2024-03-09 | by ( Michelle Mastro | ) www.businessinsider.com time to read: +6 min

Denmark is not a socialist country, but it has strong welfare safety nets, like a free healthcare system that people must pay into. AdvertisementDenmark has 'free' healthcare, but it isn't efficientDanish people pay high taxes to support a healthcare system that is becoming less effective. The social aspect of the Danish system doesn't work efficiently anymore, so patients are choosing private hospitals instead. The idea is to discourage people from consuming these products and then relying on the free healthcare system for treatment. The Danish work less and take more time away to reinvigorate their creativity.

Persons: —, Nick Olsen, didn't, I'd, Denmark, I've, you've, It's, Danes Organizations: Service, x365, Business Locations: Salt Lake City, Denmark, United States, LA, Thailand, Utah, Danish, New York, California, there's, America

☆ Novo Nordisk market cap surpasses Tesla on new obesity pill trial data
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data. 8The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The early amycretin data marks a fresh milestone for Novo Nordisk, potentially offering a more effective and less intrusive alternative to its already widely successful injection-based Wegovy and Ozempic drugs. Wegovy showed weight loss of 6% in a 12-week trial, while Ozempic is a diabetes treatment.

Persons: Liselotte Sabroe, Eli Lilly, amycretin, Martin Holst Lange, Lange Organizations: AFP, Getty, Novo Nordisk, Tesla, Microsoft Corp MSFT, Apple Inc, AAPL, NVIDIA Corp NVDA Technology, Saudi Aramco, SA Energy, Inc, AMZN Consumer, GOOGL, Berkshire Hathaway BRK.B, Company LLY Healthcare, Broadcom Inc, AVGO Technology, Taiwan Semiconductor TSM, Novo Nordisk NVO, Finance, JPMorgan Chase JPM, Reuters Locations: Bagsvaerd, Copenhagen, Denmark, Danish, London, Saudi, Mar, Europe

☆ Novo Nordisk CEO says experimental weight loss pill could become a best-in-class drug
▼ + stars: | 2024-03-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: 1 min

Novo Nordisk CEO Lars Fruergaard Jørgensen on Friday said the company's experimental weight loss pill, amycretin, could eventually become a best-in-class treatment for obesity. His remarks came one day after Novo Nordisk impressed investors with early-stage trial data on amycretin. Patients on the pill lost about 13.1% of their weight after 12 weeks, Jørgensen said on CNBC's "Money Movers." That surpasses the 6% weight loss seen in those who took Wegovy after the same time period. It also adds to the growing enthusiasm around the potential of weight loss pills.

Persons: Lars Fruergaard Jørgensen, Jørgensen Organizations: Novo Nordisk Locations: Danish

☆ Novo Nordisk stock: The company behind Ozempic and Wegovy is now bigger than Tesla
▼ + stars: | 2024-03-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —First, Novo Nordisk, the company behind Ozempic and Wegovy, outgrew its native Denmark. Investors rushed into Novo Nordisk’s stock after the company reported early-stage results from a trial of amycretin, an experimental weight loss drug that can be taken in pill form. Novo Nordisk, once the little-known maker of diabetes drug Ozempic, has ballooned in value as the drug’s off-label use for weight loss has spread. By contrast, shares of Novo Nordisk are up by 30% this year, and by nearly 80% over the past 12 months. The companies have cornered the global market for weight loss drugs that mimic GLP-1, a naturally-occurring hormone that suppresses appetite.

Persons: Grégoire, ”, Jens Naervig Pedersen, “, Tesla, Elon Musk’s Tesla, China’s, Eli Lilly, “ Novo, Lilly, It’s, Musk, Jeff Bezos Organizations: London CNN, Novo Nordisk, Pictet, Management, CNN, US Food and Drug Administration, Nordisk “, Danske Bank, EV, Reuters, “, Amazon, Bloomberg Locations: Novo, Denmark, Novo Nordisk’s, Danish, United States, Berlin, Germany, Europe, Pictet, EVs

☆ Novo Nordisk's Wegovy wins FDA approval for cutting heart disease risks, in move that could expand insurance coverage
▼ + stars: | 2024-03-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Injection pens of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023. The approval also demonstrates that weight loss drugs have significant health benefits beyond shedding unwanted pounds and regulating blood sugar. The FDA said Wegovy patients should use Wegovy in addition to a reduced calorie diet and increased physical activity. Novo Nordisk expects to receive a similar Wegovy approval in the EU this year. The study tested Wegovy in roughly 17,500 people with obesity and heart disease but who did not have diabetes.

Persons: John Sharretts, Ozempic, Wegovy, Eli Lilly, Zepbound Organizations: Drug Administration, Novo Nordisk, Diabetes, FDA's Center, Drug, Research, FDA, Nordisk Locations: Oslo, Norway, Danish, U.S

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