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☆ Eli Lilly says supply of blockbuster diabetes drug Mounjaro has improved in U.S.
▼ + stars: | 2023-11-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Eli Lilly on Thursday said supply of its blockbuster diabetes drug Mounjaro has improved in the U.S. after months of widespread shortages. During an earnings call Thursday, Eli Lilly executives said the company experienced tight supply for Mounjaro throughout most of the third quarter. But U.S. product shipments of Mounjaro have recently increased, and inventory levels at U.S. drug wholesalers have improved, according to Eli Lilly CFO Anat Ashkenazi. Eli Lilly has also invested more than $3 billion to build two new manufacturing sites in its home state of Indiana. Eli Lilly's main rival in the weight loss drug space, Novo Nordisk , is still navigating its own supply constraints of diabetes drug Ozempic and obesity treatment Wegovy.

Persons: Eli Lilly, Mounjaro, Eli Lilly's, Anat Ashkenazi, Ashkenazi, David Ricks, Ricks, we're, Wegovy, Eli Lilly's Mounjaro Organizations: Novo Nordisk, Pharmacy, Food, Pfizer Locations: Provo , Utah, U.S, North Carolina, Indiana, Novo

☆ Novo Nordish and Eli Lilly cash in on blockbuster weight-loss drugs
▼ + stars: | 2023-11-02 | by ( Manav Tanneeru | Samantha Delouya | ) edition.cnn.com time to read: +2 min

New York CNN —As prescriptions for weight-loss and diabetes drugs skyrocket, so too has revenue for drugmakers Novo Nordisk and Eli Lilly. On Thursday, Novo Nordisk, the Denmark-based company behind Ozempic and Wegovy, reported a 29% increase in sales to $8.4 billion for the third quarter. The pharmaceutical companies are two of the biggest beneficiaries of the recent weight-loss drug frenzy, with Novo Nordisk catapulting to Europe’s most valuable company in September. Novo Nordisk reported that its obesity care sales grew 174% in the first nine months of 2023, mainly driven by US demand. The success of Novo Nordisk and Eli Lilly’s drugs has inspired other companies to dive into the prescription weight-loss business, including WeightWatchers, now known as WW International.

Persons: Eli Lilly, Mounjaro, Wegovy, Novo, –, Eli Lilly’s Organizations: New, New York CNN, drugmakers Novo Nordisk, Novo Nordisk, Novo Nordisk catapulting, International Locations: New York, Denmark, United States, Novo

☆ Once loyal Calibrate patients say they regained weight after the startup struggled to get them weight-loss meds on time
▼ + stars: | 2023-11-02 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +14 min

Christina started taking Wegovy in September 2021 after getting a prescription through Calibrate, a startup that promises science-backed help with weight loss. She never received medication through Calibrate again, and she's since gained back all the weight she lost. Calibrate says its goal for Masters patients is to get them off weight-loss medications and help them maintain the weight loss they achieved. A former employee on Calibrate's clinical team said the startup allocated fewer doctors to second-year patients because those patients historically required less help from Calibrate. At least four second-year patients Insider spoke with said they sought refunds from Calibrate after they didn't receive the services they paid for.

Persons: Christina, She'd, I'm, Florian Gaertner, they've, They've, Isabelle Kenyon, Kenyon, Fortune, Jenny Craig, Ozempic, it's, Katie, Calibrate's, didn't, It's, James, they'd, Arantza Pena Popo, Disha, aren't, hasn't, Michael Siluk, Beth Organizations: Getty, Calibrate's, Better, LinkedIn Locations: York, Chicago

☆ AI is 2023's word of the year
▼ + stars: | 2023-11-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

"AI" was unveiled as the word of the year by the UK-based Collins Dictionary. The announcement coincided with the start of the AI Safety Summit — showing the extent of its impact. AdvertisementAdvertisementThe Collins Dictionary has unveiled "AI" as its 2023 word of the year. Wednesday's announcement also coincides with the start of the AI Safety Summit in the UK, where Elon Musk, Kamala Harris, and around 100 other tech and government leaders are discussing the future of the technology. And on Wednesday, she announced that another AI Safety Summit will take place in South Korea in six months, before another in France, per Reuters.

Persons: —, Alex Beecroft, Collins, Elon Musk, Kamala Harris, Michelle Donelan, who's Organizations: Collins, AI, Service, Guardian Locations: South Korea, France

☆ ‘AI’ is Collins Dictionary’s word of the year
▼ + stars: | 2023-11-01 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

London CNN —Collins Dictionary has named “AI” as its word of the year, defining it as an “abbreviation for artificial intelligence: the modelling of human mental functions by computer programs.”“Considered to be the next great technological revolution, AI has seen rapid development and has been much talked about in 2023,” the UK-based dictionary publisher said in a statement announcing its decision. While AI’s capabilities in mimicking human speech fascinated people at first, they were also the source of some anxiety, according to Collins. “If computers were suddenly experts in that most human of domains, language, what next? Cue an explosion of debate, scrutiny, and prediction, and more than enough justification for Collins’ 2023 Word of the Year: AI,” the statement continues. The inaugural Global AI Summit on AI Safety got underway in the United Kingdom Wednesday.

Persons: London CNN —, ” “, Collins, Rishi Sunak, Kamala Harris, “, ”, “ semaglutide Organizations: London CNN, London CNN — Collins, Global, Safety, UK, Allied Forces codebreaking, US Locations: United, Bletchley, “

☆ How Novo Nordisk makes its weight-loss drug Wegovy
▼ + stars: | 2023-11-01 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

[1/2] A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 1 (Reuters) - Novo Nordisk (NOVOb.CO) is spending billions of dollars to boost output and ease shortages of its hugely popular, highly effective weight-loss medicine Wegovy. FILL-FINISHNovo has hired Catalent (CTLT.N), a large U.S. contract drug manufacturer, to fill injection pens for Wegovy at two of that company's plants: in Brussels and in Bloomington, Indiana. Novo has also hired another U.S. firm, Thermo Fisher (TMO.N), as a Wegovy pen filler. COMPONENTSThe Wegovy injection pens for the U.S. market slightly differ from those sold in the European markets including Norway, Denmark, Germany and UK, where it has so far launched.

Persons: Victoria Klesty, Catalent, Novo, Wegovy, Maggie Fick, Josephine Mason, Tomasz Janowski Organizations: REUTERS, Novo Nordisk, U.S, Novo, Reuters, PCI Pharma Services, autoinjectors, West Pharmaceutical Services, Stevenato, SCHOTT Pharma, Thomson Locations: Oslo, Norway, August31, Victoria, Danish, Novo, Denmark, U.S, Brussels, Bloomington , Indiana, Greenville , North Carolina, Greenville, Germany, Europe, Swiss

☆ Here are 5 anti-obesity drug stocks besides Novo Nordisk and Eli Lilly to watch into year-end
▼ + stars: | 2023-10-29 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +11 min

Novo Nordisk and Eli Lilly reign over the anti-obesity drug market, and don't expect this duopoly to end soon, analysts say. All this goes on amid robust demand for Novo's semaglutide, which is sold as Ozempic for type 2 diabetes and as Wegovy for weight loss, and Lilly's tirzepatide, which hopes to receive regulatory approval for weight loss this year. Orforglipron is an oral drug Eli Lilly is developing. It has several other compounds in the pipeline, but Suvannavejh expects the weight loss drug to receive increased attention. "This range would also be competitive with LLY's orforglipron [an oral GLP-1 drug] weight loss at day 28," Smith said.

Persons: Eli Lilly, Piper Sandler, Yasmeen Rahimi, Cantor Fitzgerald, Louise Chen, Lilly, Lilly's, Chen, Price, Kyle Rasbach, We've, Rasbach, Altimmune Altimmune, NASH, Piper's, Rahimi, Cantor's Chen, it's, Eli Lilly's Mounjaro, Goldman Sachs, Chris Shibutani, David Risinger, Risinger, Jonathan Wolleben, Wolleben, Orforglipron, Graig Suvannavejh, Suvannavejh, Thomas Smith, LLY's, Smith, Yale Jen, Jen Organizations: Novo Nordisk, Pfizer, Novo, pharma, Pfizer Pfizer, danuglipron, Therapeutics, Leerink, Mizuho Securities, Viking Therapeutics Viking Therapeutics, Laidlaw & Co Locations: Novo, GLP, Eventide

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. "Supply of Wegovy is the most important thing for specialist healthcare investors covering Novo right now," said Barclays analyst Emily Field. Some analysts said a firm date would ease concerns that Novo's supply constraints could allow rival Eli Lilly (LLY.N) to get ahead, when it launches its Mounjaro weight-loss drug. Eli Lilly, the world's most valuable drug company ahead of Novo, has said it expects U.S. approval for the drug, currently licensed for diabetes, to be used for weight loss by the end of the year. Novo is spending billions to increase Wegovy output and hiring more contract manufacturers to fill the pens.

Persons: Victoria Klesty, Wegovy, Novo, Emily Field, Eli Lilly, Markus Manns, Manns, Catalent, Jefferies, Jacob Gronholt, Pedersen, Maggie Fick, Josephine Mason, Jane Merriman Organizations: REUTERS, Novo Nordisk, Wegovy, Barclays, U.S . Food, Drug Administration, Union Investment, Thomson Locations: Oslo, Norway, Victoria, COPENHAGEN, United States, Danish, Germany, Novo, U.S, Brussels, London

☆ British health agency warns of fake Ozempic pens linked to hospitalizations
▼ + stars: | 2023-10-26 | by ( Amanda Musa | ) edition.cnn.com time to read: +3 min

CNN —Britain’s health agency is warning the public not to buy pre-filled pens claiming to contain the weight loss drugs Ozempic and Saxenda without a prescription, after a small number of people were hospitalized. Ozempic is used to treat adults with type 2 diabetes, and is used off-label for weight loss. More than 350 potentially fake Ozempic pens have been seized since January of this year, according to the MHRA. The agency has also received reports that patients have obtained fake Saxenda pens in the UK through “through non-legitimate routes.”No fake weight-loss pens were seized before January 2023, the agency says. The maker of both drugs, Novo Nordisk, told CNN Thursday that it is aware that counterfeit pens are being circulated.

Persons: Ozempic, ” Allison Schneider, Dr, Sanjay Gupta, Alison Cave, ” Ozempic, “, Meg Tirrell Organizations: CNN, Medicines, Healthcare, Agency, Novo Nordisk, “, “ Novo Nordisk, General Pharmaceutical Council, Get CNN, CNN Health, European Medicines Agency, European Union Locations: Ozempic, “ Novo, Novo, Germany, Europe

REUTERS/George Frey Acquire Licensing RightsBERLIN, Oct 24 (Reuters) - Several people were hospitalised in Austria after using suspected fake versions of the diabetes drug Ozempic, the country's health safety body said, the first report of harm to users in a widening European hunt for counterfeiters. Regional regulator, the European Medicines Agency (EMA), last week warned about pre-filled injection pens falsely labelled as Ozempic, which has seen surging demand for its weight-loss benefits. The maker of the drug, Novo Nordisk (NOVOb.CO), has flagged a surge in online offers of fake versions of Ozempic as well as its weight-loss drug Wegovy, both based on semaglutide. The BASG did not provide an exact number of people harmed by the fake Ozempic, or say how long-lasting the adverse effects would be on their health. That person likely did not procure the fakes from an official pharmacy, it said, warning that fake injection pens may still be in circulation.

Persons: George Frey, Ozempic, BASG, Wegovy, Miranda Murray, Ludwig Burger, Alexandra Schwarz, Angus MacSwan, Bernadette Baum Organizations: Novo Nordisk, Pharmacy, REUTERS, Rights, European Medicines Agency, EMA, Thomson Locations: Provo , Utah, U.S, Austria, Danish, Germany, Britain, British, Berlin, Frankfurt, Vienna

☆ Several People Hospitalized in Austria After Taking Suspected Fake Ozempic
▼ + stars: | 2023-10-24 | by ( Derrick Bryson Taylor | More About Derrick Bryson Taylor | ) www.nytimes.com time to read: +1 min

Several people in Austria were treated in a hospital after using what government officials believe to be counterfeit Ozempic, underscoring worries across parts of Europe that fake versions of the diabetes drug may be circulating. Ozempic began trending this year as celebrities, TikTok influencers and others described using it to quickly lose weight. It was first approved by the Food and Drug Administration in 2017 to treat diabetes. A similar drug called Wegovy, which contains a higher dose of Ozempic’s active ingredient, semaglutide, was approved in 2021. The patients treated in Austria reported serious side effects like hypoglycemia and seizures, indications that the product most likely contained insulin instead of semaglutide, officials said.

Persons: underscoring, Ozempic, TikTok influencers, semaglutide Organizations: Food and Drug Administration Locations: Austria, Europe

☆ These stocks are trying to solve a major shortcoming of weight loss drugs: Shrinking muscle mass
▼ + stars: | 2023-10-22 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

One of the downsides of taking new anti-obesity medications is that patients tend to lose lean muscle mass along with body fat. "This is a major shortcoming in terms of not just quality of life for the patients who have to lose lean muscle mass, but there's actually room to improve on the weight loss and there [are] other metabolic benefits to improving your lean muscle mass ... [including] you might have better durability of weight loss." The drug is being tested in a phase 2b study alongside semaglutide to protect against loss of muscle mass. Until then, patients will need to watch what they eat and focus on exercise just as they would on any other weight loss regimen. When that occurs, muscle loss will be an even bigger issue than it is now.

Persons: Piper Sandler, Allison Bratzel, there's, Bratzel, Versanis, Eli Lilly, Eli Lilly's Mounjaro, they're, Lydia Alexander, Alexander, Sandler's Bratzel, incretins, Biohaven, Nestle, Ulf Mark Schneider, Jeff Jonas, Jonas, Stephens, Jim Salera, Atkins, Morgan Stanley, — CNBC's Michael Bloom Organizations: Wall, Nordisk's Ozempic, Obesity Medicine Association, Bristol Myers Squibb, Nestle, Gabelli, Quest, Foods Locations: Swiss

Homeland Security, as well as companies that help identify counterfeit products such as Israel’s BrandShield. Fake weight-loss drugs will be a key focus in the agency’s annual counterfeit medicines report, due next year, the official said. “We have counterfeit products and stolen products,” the official said. "We will look online and if we find something that infringes (obesity drug trademarks) we'll get it taken down,” said Yoav Keren, BrandShield CEO. When a consumer buys those fakes, “what you get are expired drugs, counterfeit drugs, or nothing,” he added.

Persons: George Frey, Eli Lilly, BrandShield, Novo’s Ozempic, ”, Jim Mancuso, Mancuso, Europol, Novo, Lilly, “, Ozempic, Yoav Keren, MHRA, Eli, Mounjaro, Patrick Wingrove, Aurora Ellis Organizations: Novo Nordisk, Pharmacy, REUTERS, Novo Nordisk’s, Pharmaceutical Security Institute, drugmakers Novo Nordisk, Europol, Interpol, U.S . Homeland Security, U.S . Food, Drug Administration, U.S . Department of Homeland, Coordination Center, PSI, Medicines, Healthcare, Agency, Health Organization, Ireland’s, Products Regulatory Authority, Reuters, Thomson Locations: Provo , Utah, U.S, America, Europe, Germany, Egypt, Russia, North America

☆ Eli Lilly sues online pharmacies to ban US imports of fake Mounjaro
▼ + stars: | 2023-10-19 | by ( Patrick Wingrove | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Lilly is accusing the online pharmacies of infringing its trademark for Mounjaro, falsely associating themselves with Lilly and approved tirzepatide, and making false or misleading statements in their advertisements related to tirzepatide. “The unapproved drug products are dangerous research chemicals that are not approved for human consumption and have no connection to Eli Lilly or Mounjaro,” Lilly said in its lawsuit. Lilly is the only company with U.S. Food and Drug Administration approval to sell tirzepatide products. The suit comes exactly one month after Eli Lilly sued 10 U.S. medical spas, wellness centers and compounding pharmacies at federal courts in Arizona, Florida, Georgia, Minnesota, South Carolina and Utah for selling products claiming to contain tirzepatide.

Persons: Eli Lilly, Mike Blake, drugmaker, Britain’s Biolabshop, Audrey Beauty, Lilly, Mounjaro, ” Lilly, Patrick Wingrove, Bill Berkrot Organizations: REUTERS, U.S . International Trade Commission, Labs, Mew Mews Company, ITC, Federal Register, U.S . Food, Drug Administration, FDA, Thomson Locations: San Diego , California, U.S, Indianapolis, Poland, Arizona , Florida, Georgia, Minnesota, South Carolina, Utah, Nordisk’s

☆ Corporate America weighs risks of the Ozempic effect
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Abbott Laboratories (ABT.N), which makes glucose monitoring products, has said that the market was overestimating the impact to its sales from growing popularity of the drugs. Abbott CEO Robert Ford has said that diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: George Frey, Eli Lilly's, Hugh Johnston, Johnson, Joseph Wolk, Robert Ford, Bhanvi, Mrigank Organizations: Novo Nordisk, Pharmacy, REUTERS, Walmart, PepsiCo, Abbott Laboratories, Insulet Corp, Cardinal Health, Thomson Locations: Provo , Utah, U.S, Bengaluru

By comparison, a group of people who also dieted and exercised, but then received dummy shots, lost weight initially but then regained some, researchers reported Sunday in the journal Nature Medicine. Participants in both groups lost about 7% of their body weight, or almost 17 pounds (8 kilograms), during the diet-and-exercise phase. Those who received the drug went on to lose an additional 18.4% of initial body weight, or about 44 pounds (20 kilograms) more, on average. Nearly 29% of those taking the drug lost at least a quarter of their body weight, compared with just over 1% of those taking placebo. Side effects including nausea, diarrhea and constipation were reported more frequently in people taking the drug than those taking the placebo.

Persons: Mounjaro, ”, Thomas Wadden, Eli Lilly, it's, Caroline Apovian, wasn't, tirzepatide, “, Lilly Organizations: Nature, University, Pennsylvania, Brigham, Women's, Novo Nordisk, U.S . Food, Drug Administration, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: U.S, ”

[1/2] A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsOct 12 (Reuters) - Novo Nordisk (NOVOb.CO) warned on Thursday of a surge in counterfeit versions of its weight-loss drug Wegovy and diabetes drug Ozempic offered online, as German authorities gave more details of complex European trades in a fake drug case. "Novo Nordisk has seen a significant increase in illegal online sales," the company said in a statement, referring to products that contain the active ingredient semaglutide. The warning came after Germany's federal drug regulator on Wednesday urged pharmacies and drug distributors to be vigilant following the discovery of wholesale batches of fake Ozempic. The FDA has warned patients to refrain from using a compounded drug if an approved drug is available.

Persons: Victoria Klesty, Ozempic, Novo, Danish drugmaker, Eli Lilly, Lilly, Maggie Fick, Ludwig Burger, Jan Harvey, Susan Fenton Organizations: REUTERS, Novo Nordisk, Nordisk, Prosecutors, U.S . Food, Drug Administration, U.S, FDA, Thomson Locations: Oslo, Norway, Victoria, Loerrach, Swiss, Basel, British, Austria, Germany, Europe, Danish, U.S, United States, Britain

☆ Shares of dialysis providers drop after Ozempic's early kidney trial success
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The outdoor sign seen at the DaVita Dialysis clinic in Denver February 16, 2016. U.S.-listed shares of Fresenius fell 16.4%, to $17.5, and Davita fell about 16%, to $76.7, in premarket hours. Shares of U.S.-based Baxter International (BAX.N), which makes products used by dialysis therapy providers, also fell about 9%, to $33.99 premarket. Davita and U.S.-listed shares of Fresenius Medical are among the top percentage losers on the New York Stock Exchange. As of Tuesday's close, U.S.-listed shares of Fresenius were up about 28.2%, Davita's shares were up 22.2%, while Baxter's shares were down about 27% so far this year.

Persons: Rick Wilking, Ozempic, Danish drugmaker, Veronika Dubajova, Davita, Eli Lilly's, Akash Tewari, Fresenius, Mariam Sunny, Janane Venkatraman, Pooja Desai Organizations: REUTERS, Novo Nordisk's, Citi, Baxter, Jefferies, Fresenius, New York Stock Exchange ., Thomson Locations: Denver, Danish, Fresenius, New York Stock Exchange . Frankfurt, U.S, Bengaluru

☆ Obesity revolution gorges on dialysis maker
▼ + stars: | 2023-10-11 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

REUTERS/Megan Jelinger Acquire Licensing RightsLONDON, Oct 11 (Reuters Breakingviews) - Kidney dialysis kit-makers look set to be the latest victim of the obesity drug boom. On Wednesday, shares in Germany-listed Fresenius Medical Care (FMEG.DE) fell 20% after a medical trial showed a Novo Nordisk (NOVOb.CO) drug can reduce the risk of kidney failure. Diabetes and obesity drugs are showing their fringe benefits. In a recent drug trial, Wegovy, an obesity remedy made by Denmark’s Novo Nordisk, reduced the incidence of serious cardiovascular events like strokes and heart attacks by 20% in overweight patients. The collapse in Fresenius Medical Care’s share price looks appropriate.

Persons: Dawn, Megan Jelinger, Michael Sen, Danish drugmaker, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Novo Nordisk, Denmark’s Novo Nordisk, Fresenius, Thomson Locations: Findlay , Ohio, U.S, Germany, Fresenius, Vamed, Danish

☆ Bank of America sees risks for employers as insurance coverage of weight loss drugs grows
▼ + stars: | 2023-10-11 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

The eye-popping predictions for weight loss drug sales hinge on insurance companies agreeing to provide coverage of the pricey treatments, and momentum seems to be building on that front. The drugs include Novo Nordisk's semaglutide, which is sold as Ozempic for diabetes management and as Wegovy for weight loss. Unlike earlier generations of weight loss medicines, their side effects have been largely mild and included diarrhea, constipation and nausea. Higher hospital labor costs as well as GLP-1 medications are contributing to the biggest jump in health insurance costs since 2012, Lutz said. But those numbers will grow, especially as ongoing research continues to make the case for benefits beyond blood sugar control and weight loss.

Persons: Allen Lutz, Lutz, Lutz's, Savanta, Accolade, Eli Lilly, Mercer, Willis Towers Watson, Peter Verdult, Verdult, — CNBC's Michael Bloom Organizations: Bank of America, Accolade, Novo Nordisk's semaglutide, Food, Drug Administration, Citi, Nordisk, Centers for Disease Control Locations: U.S

☆ Stocks making the biggest moves midday: Novo Nordisk, DaVita, Exxon Mobil, Amgen and more
▼ + stars: | 2023-10-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Novo Nordisk — The Danish drugmaker stock added 5.5% after saying late Tuesday it was halting Ozempic's kidney disease treatment trial after a committee said an analysis showed signs of success. DaVita , Fresenius Medical Care , Baxter International — Shares of dialysis services providers DaVita and Fresenius Medical Care sank 18.4% and 19.6%, respectively, on Novo Nordisk's news. Exxon Mobil , Pioneer Natural Resources — Exxon Mobil shares fell more than 4% after the largest U.S. oil and gas producer agreed to buy shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal, or $253 per share. Amgen — The biopharma stock added 3.5% following an upgrade from Leerink to outperform. On Wednesday, B. Riley upgraded shares to buy from neutral, saying Coherent's silicon carbide business could be worth more than the Street's current estimate.

Persons: Eli Lilly, Bruce Broussard, Jim Rechtin, Amgen, David Risinger, Goldman Sachs, Jeffrey Brown, Tim Wentworth, Riley, Raymond James, — CNBC's Michael Bloom, Hakyung Kim, Yun Li, Lisa Han Organizations: Novo Nordisk, Novo Nordisk —, Baxter, Fresenius, Novo Nordisk's, Baxter International, Exxon Mobil, Natural Resources, Exxon, Exxon's, Mobil, Healthcare, Goldman, Walgreens, Alliance Locations: Danish, Novo

☆ 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

☆ 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

☆ U.S. employers covering weight-loss drugs could nearly double in 2024 - survey
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. The survey of 502 employers by Accolade (ACCD.O), a company that provides healthcare programs for employers, and research firm Savanta said 43% of the employers it polled could cover GLP-1 drugs in 2024 compared to 25% that cover them now. Nearly all the companies that are covering GLP-1 drugs plan to keep covering them next year, according to the survey. Employers that cover weight-loss drugs are facing a spike in their healthcare costs because of the growing popularity of Wegovy. Benefits consultant Aon (AON.N) said 1 percentage point of the 8.5% increase in employer healthcare costs it predicted for next year would be driven by employee take-up of weight-loss drugs.

Persons: Victoria Klesty, Savanta, James Wantuck, Ozempic, Eli Lilly's, Leroy Leo, Shinjini Organizations: REUTERS, Novo Nordisk, Accolade, Employers, Novo, Novo Nordisk's Wegovy, Thomson Locations: Oslo, Norway, August31, Victoria, Novo, Novo Nordisk's, United States, Bengaluru

☆ Ozempic isn't the existential threat food companies think it is — yet
▼ + stars: | 2023-10-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

Food companies fear soaring Ozempic sales could hurt their bottom lines. AdvertisementAdvertisementExecutives at America's biggest food companies can't stop talking about Ozempic . And early data suggests that Ozempic sales will have some impact on the food industry. AdvertisementAdvertisementFor example, if consumers begin to prefer smaller portions, food companies have time to adjust their package sizes, and restaurants have time to modify their menus. "This is not an existential threat to the food industry," he said.

Persons: —, Doug McMillon, Arun Sundaram, Morgan Stanley, Walmart's John Furner, Steve Cahillane, Rice Krispies, Jefferies, Sundaram, David M, Gordon, Ozempic Organizations: Service, America's, Nordisk, North, Walmart, Bloomberg, Wall, Cheesecake

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