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☆ Eli Lilly vs. Novo Nordisk: The pros deliver their verdict on the viral weight-loss stocks
▼ + stars: | 2023-12-06 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

It has been quite a year for both Eli Lilly and Novo Nordisk given the boom in weight-loss drugs. Shares in Eli Lilly are up around 60% year-to-date, while its Danish counterpart Novo Nordisk has seen a gain of around 50%. At present, both Eli Lilly and Novo Nordisk offer weight loss treatments. Novo Nordisk Novo Nordisk's Wegovy recently made headlines for reducing the risk of heart attacks and strokes by 20% in adults with heart disease and obesity. Aside from Eli Lilly and Novo Nordisk, Pfizer , Johnson & Johnson and AstraZeneca are also developing weight-loss drugs.

Persons: Eli Lilly, Stocks, Rahul Ghosh, Rowe Price, TRP's Ghosh, Eli Lilly's, Ghosh, FactSet, Lilly, Novo Nordisk Novo Nordisk's Wegovy, Elizabeth Field, Squawk, What's, it's, Michael Bloom Organizations: Novo Nordisk, Nordisk, CNBC Pro, U.S . Food, Administration, pharma, Novo Nordisk Novo Nordisk's, Heart Association Scientific, Citi, Pfizer, Johnson, AstraZeneca, Barclays Locations: Danish, U.S, Novo

Dec 5 (Reuters) - Eli Lilly (LLY.N) on Tuesday said its recently approved obesity treatment Zepbound is now available in U.S. pharmacies and could cost $550 a month for customers whose health insurance does not cover the drug, or half the list price. Wall Street analysts expect sales of Zepbound to reach about $2 billion in 2024, and for sales of Novo Nordisk's (NOVOb.CO) rival obesity drug Wegovy to hit around $7.5 billion. An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. When the U.S. Food and Drug Administration approved Zepbound in November, Lilly said it would launch after the U.S. Thanksgiving holiday. Lilly's obesity drug has the same active ingredient, tirzepatide, as its previously approved diabetes drug Mounjaro, which has been used off-label for weight loss since its 2022 launch.

Persons: Eli Lilly, Wegovy, danuglipron, Zepbound, Lilly, Mike Segar, Eli Lilly's, Patrick Wingrove, Manas Mishra, Khushi, Arun Koyyur, Alexander Smith, Bill Berkrot Organizations: Wall Street, Novo, Pfizer, Company, REUTERS, CVS, U.S . Food, Drug Administration, U.S, Thomson Locations: U.S, Branchburg , New Jersey, Indianapolis, New York, Bengaluru

☆ Eli Lilly weight loss drug Zepbound now available at pharmacies as rival Wegovy faces shortages
▼ + stars: | 2023-12-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Tuesday said its recently approved weight loss treatment Zepbound is now available at pharmacies across the U.S., serving as an alternative to rival obesity drugs such as Wegovy that are facing supply issues. High demand for the treatments has resulted in widespread shortages of Novo Nordisk 's Wegovy and diabetes drug Ozempic as well as Eli Lilly's diabetes treatment Mounjaro, pushing companies to ramp up production. Eli Lilly also said in a release that its commercial savings card program, which aims to expand access to Zepbound, is now available to patients with a prescription. Also on Tuesday, Eli Lilly said Zepbound was added to the preferred formulary, or list of covered drugs, of a major drug benefits company, Cigna . Zepbound will be added to the commercial formularies of Cigna's health-care business on Dec. 15, according to Eli Lilly.

Persons: Eli Lilly, Eli, Zepbound, Rhonda Pacheco, Eli Lilly's Organizations: Novo Nordisk, CNBC PRO Locations: U.S, Novo

☆ Cramer examines Tuesday's market 'mistakes,' points out underappreciated stocks
▼ + stars: | 2023-12-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday said he thinks Wall Street has made some poor decisions when evaluating mega cap stocks. "Look, on any given day, we're giving, getting these imperfections, these mistakes, these juvenile, uninformed moves," he said. Cramer pointed to tech giant Apple , which he said opened down on Tuesday due to a market-wide decline. But its stock changed course after the company announced its recently approved weight loss treatment Zepound is now available at pharmacies. These "mistakes" can bode well for investors who might want to buy shares of high quality stocks at lower prices.

Persons: CNBC's Jim Cramer, Cramer, Hai, Eli Lilly, Eli Lilly's, bode Organizations: Apple, Foxconn

Indeed, studies show that drinking alcohol is less in vogue with younger millennials and Gen Z. Mounting concern around weight loss drugs GLP-1 drugs, which mimic the action of the glucagon-like peptide-1 hormone and stimulate insulin secretion after a meal, lower blood sugar and send feeling of fullness to the brain. What's more, GLP-1 drugs are an overwhelmingly American topic, with most Europeans unaware of them or unwilling to pay high prices. In total, GLP-1 users are only a very small slice of total alcohol consumers, said Spiros Malandrakis, lead alcohol industry researcher at Euromonitor International. The most vulnerable purveyors are those that are trailing the shift in consumption, notably domestic, non-premium beer brands.

Persons: Katie Pell, Pell, wasn't, millennials, Eli Lilly's Mounjaro, Goldman Sachs, Jason English, Nadine Sarwat, Bernstein, Sarwat, Spiros Malandrakis, —, BUD YTD, who'd, Mickey Velado, Brian Sudano, Nell Healy, Healy, she's, Malandrakis, Ryan Brigden, Brigden, Sudano, Joseph Gabelli, Gabelli, Z, there's, it's, Garrett Nelson, They've, seltzer, Nelson, Molson Coors, Bud, he's Organizations: Gallup, Drugs, Nordisk's Ozempic, JPMorgan, CNBC, Euromonitor, Anheuser, Busch Inbev, Beverage Marketing, Constellation, Guinness, Corona, Heineken, Athletic Brewing Company, Heineken Holding, Carlsberg, Constellation Brands, Malandrakis, Beverage, Gabelli, Diageo, Molson Coors, Busch InBev, Molson, Anheuser Busch Locations: Brooklyn, U.S, GLP, imbibing, Angeles, Colorado, Washington, California, North Carolina, San Francisco Bay, Europe, British, Brazil, India

☆ Roche enters obesity market with Carmot takeover but drugs may not be available until 2030
▼ + stars: | 2023-12-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

BRAZIL - 2021/11/26: In this photo illustration a F. HoffmannLa Roche AG logo is seen on a screen and a hand holding a pill. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)Swiss pharmaceuticals giant Roche is set to acquire anti obesity drug developer Carmot Therapeutics, becoming the latest company to attempt to unseat Novo Nordisk and Eli Lilly's dominance within the global weight-loss drugs market. The U.S. takeover target's early-stage technology could help crack highly prized oral obesity treatments, Roche Pharmaceuticals CEO Teresa Graham said Monday, but it may be several years before the drugs are widely available. The deal will provide Roche access to Carmot's current research and development portfolio, including all clinical and preclinical assets. Shares of the Swiss company, which have been in the doldrums this year, were up 2.25% following the news of the acquisition.

Persons: HoffmannLa Roche, Rafael Henrique, Roche, Eli Lilly's, Teresa Graham, we'll, Graham, CNBC's Julianna Tatelbaum, Eli Lilly's Mounjaro Organizations: Getty Images, Carmot Therapeutics, Novo Nordisk, U.S, Roche Pharmaceuticals, Roche Locations: BRAZIL, Swiss, California

☆ US FDA gives second approval to Eli Lilly's drug for type of blood cancer
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - Eli Lilly (LLY.N) said on Friday the U.S. Food and Drug Administration (FDA) gave a second approval for its drug Jaypirca, which is used to treat a form of blood cancer. The company said the health regulator gave the new approval to the drug for the treatment of chronic lymphocytic leukemia (CLL), a type of cancer in which the bone marrow makes too many of certain white blood cells. Jaypirca was first given accelerated approval by the FDA on Jan. 27 for the treatment of mantle cell lymphoma (MCL), a rare type of blood cancer that starts in white blood cells and spreads to other parts of the body. MCL is a more aggressive form of cancer compared to CLL, according to the National Institutes of Health. The drug aims to treat adults with CLL after at least two lines of therapy.

Persons: Eli Lilly, LLY.N, Jaypirca, Christy Santhosh, Arun Koyyur Organizations: U.S . Food, Drug Administration, FDA, National Institutes of Health, CLL, Thomson Locations: Bengaluru

☆ Pfizer drops plan to study twice-daily obesity pill in late-stage studies
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

A person walks past the Pfizer Headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. Pfizer said it would instead focus on a once-daily, modified release version of danuglipron and "gathering the data to understand its potential profile". In the current study of the twice-daily version, Pfizer said the drug, however, met the main goal of reducing weight in adults with obesity and without type 2 diabetes. Pfizer said while the common side effects in the twice-daily version study were mild, it saw high rates of those events in the trial. However, no new safety signals were observed in the study, Pfizer said.

Persons: Carlo Allegri, danuglipron, Eli Lilly's, Mikael Dolsten, Pfizer, Manas Mishra, Michael Erman, Shinjini Organizations: Pfizer, REUTERS, Zepbound, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru, New York

☆ Why Pfizer's latest stumble in the obesity market is a boon for Eli Lilly
▼ + stars: | 2023-12-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

In June, the New York-based pharmaceutical giant stopped developing a different obesity pill, known as lotiglipron , due to concerns about liver safety. Meanwhile, Eli Lilly shares were mainly flat in afternoon trading, at around $591apiece. We lifted our Eli Lilly price target Friday to $630 per share, up from $600. Eli Lilly and Danish rival Novo Nordisk (NVO) are the two dominant players in the obesity market. The longer it takes for competitors to get to this burgeoning market, the more revenue first-movers Eli Lilly and Novo Nordisk can capture.

Persons: Eli Lilly, Jim Cramer, Lilly's, Novo's, Jim, Eli Lilly —, —, Eli, that's, — Novo's, Novo, semaglutide, Jim Cramer's, AJ Mast Organizations: Pfizer, Club, Novo Nordisk, Pharmaceutical, Amgen, AstraZeneca, Bank of America, U.S . National Library of Medicine, U.S . Food, Drug Administration, CNBC, Bloomberg, Getty Locations: New York, Danish, Lilly, U.S, Indianapolis , Indiana

☆ GLP-1 weight loss drug boom to boost energy drink stocks, Lululemon, Stifel says
▼ + stars: | 2023-11-29 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Further uptake of the blockbuster weight loss drugs rocking the health-care world can bode well for select energy drink makers and fitness-focused retailers, Stifel said. Indeed, Stifel found an additional 21% said they would be interested in the drug if it showed proven results, was widely available and had approval from the U.S. Food and Drug Administration for weight loss specifically. Wegovy was approved to treat weight loss in 2022 and Eli Lilly's Zepbound recently received that same nod . These shifting food and health habits can also affect consumer spending — and stocks tied to specific retailers, Astrachan said. If half of those interested in GLP-1 drugs begin taking them, the firm expects U.S. energy drink consumption could increase about 2%.

Persons: bode, Stifel, Wegovy, Eli Lilly's Zepbound, Mark Astrachan, Astrachan, Atkins, Levi Strauss, Lululemon, — CNBC's Michael Bloom Organizations: Nordisk's Ozempic, U.S . Food, Drug Administration, Monster Beverage, Holdings, Food, BellRing Brands, Brands Locations: Stifel's U.S, U.S

☆ Suspected fake Ozempic causes hypoglycemia in 11 in Lebanon
▼ + stars: | 2023-11-28 | by ( Patrick Wingrove | ) www.reuters.com time to read: +4 min

Three of the people who took the suspected fake Ozempic did so to control their diabetes, while four took it for weight management, Karam said. People with diabetes need to closely manage their blood sugar, which can be done with a variety of medicines including Ozempic. Lebanon's Ministry of Public Health issued two recalls related to Ozempic in January 2023, according to its website. Karam said Ozempic is neither purchased nor provided by the Ministry of Public Health. Several people have been hospitalized in Austria for hypoglycemia after taking potentially fake versions of Ozempic.

Persons: Rita Karam, Eli Lilly's, Novo's, Karam, Ozempic, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: Lebanese Ministry of Public Health, Lebanon's Ministry of Public Health, Novo Nordisk, World Obesity, Obesity, International Diabetes Federation, Ministry of Public Health, Reuters, Thomson Locations: Lebanon, Germany, Egypt, Russia, United States, Novo, Britain, Belgium, Austria

REUTERS/George Fre/File Photo Acquire Licensing RightsNov 27 (Reuters) - Overweight or obese adults lost more weight and shed pounds faster using Eli Lilly's (LLY.N) Mounjaro than those taking Novo Nordisk's (NOVOb.CO) popular rival weight loss drug, according to an analysis of health records and other data. After 3 months of treatment, patients on Mounjaro had lost an average of 2.3% more body weight than those taking Ozempic, the study also found. By 6 months, the difference had widened to 4.3%, and by 12 months, the Mounjaro group had lost an average of 7.2% more weight. An Eli Lilly spokesperson said the company does not promote or encourage the off-label use of any of its medicines, although its drug is now approved for weight loss. A trial is underway comparing the weight loss formulations of the two injected medicines in patients overweight or obese but without type 2 diabetes.

Persons: Lilly, George Fre, Eli Lilly's, Mounjaro, Eli Lilly, Nancy Lapid, Bill Berkrot Organizations: Novo Nordisk, Pharmacy, REUTERS, Novo, Thomson Locations: Provo , Utah, U.S

☆ Goldman's rising star stocks are seeing the biggest increase in popularity among hedge funds
▼ + stars: | 2023-11-25 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Rising popularity from hedge funds can be a strong signal of outperformance in the near future for stocks, and Goldman Sachs highlighted which names the smart money is loving right now. The Wall Street bank analyzed the holdings of 735 hedge funds with $2.4 trillion of both long and short equity positions at the start of the fourth quarter, based on regulatory filings. Goldman then identified a slew of Russell 1000 stocks with the largest increase in number of hedge fund owners during the quarter. Kenvue , the consumer health business that Johnson & Johnson spun out as an independent company earlier this year, saw 48 hedge funds in total adding it as a holding last quarter, Goldman said. Hedge funds also piled into two merger arbitrage plays — Splunk and Capri Holdings — last quarter.

Persons: Goldman Sachs, Goldman, Russell, Kenvue, Johnson, Eli Lilly, Eli Lilly's, rocketed, Tapestry, Michael Kors, Jimmy Choo Organizations: Food and Drug Administration, Capri Holdings, Cisco, Capri

Handout via REUTERS/File photo Acquire Licensing RightsSummaryCompanies Ozempic shortages expected throughout 2024Victoza shortages expected until at least Q2 2024Diabetes drug Ozempic used 'off label' to treat obesityNov 21 (Reuters) - Novo Nordisk (NOVOb.CO) will ration starter kits of Ozempic in Europe and reduce supplies of another diabetes drug, Victoza, to prioritise producing Ozempic, which has seen a surge in demand from people using it to lose weight. Ozempic contains semaglutide, an ingredient in Novo's hugely popular anti-obesity drug Wegovy. Intermittent Ozempic shortages are expected throughout 2024, while Victoza shortages are expected at least until the second quarter of 2024, according to the statement on the EMA's website. "No new patients should be started on Victoza until at least Q2 2024 when supply is expected to normalise," Novo urged doctors in the document. It also told doctors to consider other injectable GLP-1 drugs or "other suitable alternatives" where Ozempic or Victoza are not available for patients.

Persons: Ozempic, hasn't, Novo, Eli Lilly's, tirzepatide, Ludwig Burger, Eva Mathews, Emelia Sithole, Mark Potter Organizations: Handout, REUTERS, Diabetes, Novo Nordisk, European Medicines Agency, EU, Thomson Locations: Novo, London, Britain, Europe, Danish, United States, France, Austria, Belgium, Germany, Wegovy, Norway, Denmark, EU

☆ Researchers return to Alzheimer's vaccines, buoyed by recent drug success
▼ + stars: | 2023-11-20 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +6 min

The renewed interest in Alzheimer's vaccines follows a promising first attempt more than 20 years ago that was abandoned after 6% of study volunteers developed life-threatening brain inflammation known as meningoencephalitis. Dr. Reisa Sperling, an Alzheimer's researcher at Mass General Brigham in Boston, said she believes vaccines will play an important role as researchers look to prevent Alzheimer's. She is considering vaccines for her next study in asymptomatic people with Alzheimer's proteins in their blood, but not enough to register on brain scans. Alzheimer's vaccines are still in the early stages and will require large, years-long trials to show they work. Generating a strong immune response is critical for such vaccines, which would typically be given to older individuals with weaker immune systems, he said.

Persons: Brian Snyder, Eli Lilly's, Reisa Sperling, Brigham, “, ” Sperling, Walter Koroshetz, Mei Mei Hu, Vaxxinity, Hu, Michael Rafii, Rafii, Andrea Pfiefer, Johnson, Prothena, Gene Kinney, Julie Steenhuysen, Caroline Humer, Bill Berkrot Organizations: Alzheimer Research, Brigham, Women's, REUTERS, Rights, U.S . Food, Drug Administration, Mass, National Institutes of Health, UB, University of Southern, Johnson, Bristol Myers Squibb, Thomson Locations: Boston , Massachusetts, U.S, Boston, Taiwan, University of Southern California

Analysts attended earnings calls in the third quarter armed with questions for healthcare and consumer companies about the potential effect on their sales from the growing popularity of these drugs, known as GLP-1 agonists. A Reuters analysis of earnings transcripts for the third quarter showed "GLP-1" or alternatives like "obesity" or "weight-loss medications" were mentioned 256 times across 29 U.S. and European healthcare and consumer companies. That's more than double the mentions for the second quarter, when those phrases came up 127 times. While some consumer companies have talked about factors such as fewer calories being consumed, "these kind of large extrapolations" seem to be a bit of a stretch, said BMO Capital analyst Evan Seigerman. For big pharma manufacturers like Pfizer (PFE.N) and Amgen (AMGN.O), analyst questions were aimed at their obesity drug candidates.

Persons: Lilly, George Frey, Jeff Jonas, it's, Eli Lilly's, John Furner, Mondelez, Eli Lilly, Evan Seigerman, LVMH, Rajesh Kumar, Jonas, Bhanvi Satija, Savyata Mishra, Arpan Varghese, David Gaffen, Shounak Organizations: Novo Nordisk, Pharmacy, REUTERS, Gabelli, Novo, Walmart, Walmart U.S, Hershey, Truist Securities, Krispy, BMO Capital, Danish, pharma, Pfizer, Devices, HSBC, Thomson Locations: Provo , Utah, U.S, United States, Novo, Bengaluru

An upswing in the use of GLP-1 drugs has had a notable impact on the higher growth of pharmacy benefit costs under such health insurance plans, Mercer said. GLP-1 drugs, which work by suppressing hunger and making a person feel full longer, are typically priced around $1,000 per patient per month. While employers cover the use of GLP-1 drugs as a treatment for diabetes, the debate around providing coverage for them as an obesity treatment lingers. "It may take another couple of years for price increases stemming from higher healthcare sector wages and medical supply costs to be felt across all health plans." Despite rising health-plan costs, large employers have avoided shifting additional costs to employees through higher deductibles, co-pays, or out-of-pocket maximums in 2023.

Persons: Victoria Klesty, Mercer, Health Actuary, Sunit Patel, Eli Lilly's, Patel, Beth Umland, Khushi Mandowara, Leroy Leo, Pooja Desai Organizations: REUTERS, U.S . Food, Drug, Health, Reuters, Novo Nordisk's, Mercer, Thomson Locations: Oslo, Norway, August31, Victoria, United States, Bengaluru

☆ German regulator eyes Ozempic export ban amid shortages across Europe
▼ + stars: | 2023-11-15 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

Use of Ozempic for weight loss has caused shortages across Europe. Novo Nordisk, which has earmarked $6 billion to boost production in Denmark, said last week the industry was far from being able to produce enough weight-loss drugs to meet global demand. The German association of drug wholesale distributors PHAGRO said in a statement that there was no certainty that exports were causing the shortages. Portugal, Poland, Romania, Belgium, Slovakia and Spain, in turn, have rules in place that likely make it impossible to export the drug, Affordable Medicines said. It also urged "all relevant actors" not to export the drugs.

Persons: George Frey REFILE, Spiegel, Lilly, Karl Broich, Eli Lilly's, tirzepatide, BfArM's Broich, Broich, PHAGRO, Germany's BfArM, Ludwig Burger, Miranda Murray, Patricia Weiss, Matthias Williams, Sharon Singleton Organizations: Novo Nordisk, Pharmacy, REUTERS, BfArM, EU, Novo Nordisk's, Spiegel, European Union, Medicines, Thomson Locations: Provo , Utah, U.S, FRANKFURT, United States, Europe, Britain, Belgium, Germany, Norway, Denmark, Medicines Europe, Austria, France, Greece, Czech Republic, Portugal, Poland, Romania, Slovakia, Spain, Frankfurt, Berlin

☆ Here’s a rapid-fire update on all 35 stocks in our portfolio, including a new industrial
▼ + stars: | 2023-11-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. In a diversified stock portfolio, Jim said there's always room for high-quality companies like P & G, which also has a track record of raising its dividend. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.

Persons: Jim Cramer's, Jim, Bausch, That's, Dupont De Nemours, Dupont, Danaher, Walt Disney, Estee Lauder, Locker, Vimal Kapur, we're, We've, we've, Linde, Eli Lilly, Eli, hasn't, Mark Zuckerberg, Meta's, Zuckerberg, Morgan Stanley, Morgan Stanley's, Ted Pick, James Gorman, he's, there's, Patience, Stanley Black, Decker, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Amazon Web Services, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Coterra Energy, Disney, Eaton Corp, Emerson, Ford, Union Auto Workers, GE Healthcare Technologies, General Electric, GE, Management, Google, YouTube, Honeywell International, Honeywell, Linde, LIN, Reality Labs, Microsoft, Nvidia, U.S, Oracle, Palo Alto Networks, Procter & Gamble, Starbucks, Constellation Brands, Corona, Modelo, Stanley, TJX, Wynn Resorts, WYNN, Trust Locations: China, India, Salesforce's, redeploy

☆ Investors increase holdings of weight-loss drug makers’ shares in Q3 -filings
▼ + stars: | 2023-11-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 14 (Reuters) - Some big investors showed increased appetite for weight-loss drug makers in the third quarter, piling in to shares of Eli Lilly (LLY.N) and Novo Nordisk amid growing demand for their product, securities filings showed on Tuesday. Shares of Eli Lilly rose 14.5% in the third quarter and are up 67% this year. Some investors also bought more American Depositary Receipts of Novo Nordisk, including Fidelity Investments, Lazard Asset Management, T Rowe Price and Soros Fund. Novo Nordisk on Saturday presented data showing that the heart protective benefits of Wegovy are not solely due to weight loss, which could make it easier for healthcare insurance reimbursement in the future. Still, other investors trimmed their exposure to Eli Lilly, such as Wellington Management Group, California Public Employees Retirement System and Bridgewater Associates.

Persons: Eli Lilly, Eli Lilly's Mounjaro, JPMorgan Chase, Eli Lilly's, Rowe Price, Marshall Wace, LSEG, “ Stocks, ”, Vincent Aita, Carolina Mandl, Ira Iosebashvili, Matthew Lewis Organizations: Novo Nordisk, Novo, JPMorgan, Vanguard, Sigma, Tiger Global Management, Coatue Management, U.S . Food, Drug Administration, Novo Nordisk's Wegovy, Bank of America, Fidelity Investments, Lazard Asset Management, Soros Fund, Wellington Management Group, California, Bridgewater Associates, Marshall, Renaissance Technologies, Capital Management, Pfizer, Carolina, Thomson Locations: BlackRock, U.S, New York

☆ Medical device stocks rise in relief after Wegovy heart benefits data
▼ + stars: | 2023-11-13 | 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, September 1, 2023. To be sure, the full results presented on Saturday at a major medical meeting gave analysts even more confidence in the heart protective benefits of the hugely popular drug. That lifted shares of Penumbra (PEN.N), which makes devices used in surgeries for stroke patients, 13% in morning trading. Its shares have tumbled about 28% as of last close since Novo in August said Wegovy had also shown a clear cardiovascular benefit. "The full detailed results ... do not shift our outlook that MedTech device stocks appear broadly oversold," said Leerink analyst Mike Kratky.

Persons: Victoria Klesty, Wegovy, Baird, Jeff Johnson, Eli Lilly's, Mike Kratky, Leroy Leo, Medha Singh, Sriraj Organizations: REUTERS, Novo, Devices, Abbott Laboratories, Thomson Locations: Oslo, Norway, Victoria, MedTech, Penumbra, Novo, Friday's, Bengaluru

☆ Novo Nordisk shares rise as Wegovy shows heart benefits beyond weight loss
▼ + stars: | 2023-11-13 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

LONDON, Nov 13 (Reuters) - Novo Nordisk (NOVOb.CO) shares rose 3% on Monday as the market reacted to data the drugmaker presented over the weekend showing that the heart protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Wegovy is part of a class of drugs that mimic a gut hormone that helps regulate blood sugar and appetite. U.S. companies across sectors such as food and beverage makers have addressed investor concerns on the potential impact to their businesses from the growing popularity of the promising weight-loss drugs. Novo was first to market with its highly effective weight loss drugs. At the close of markets on Friday, Novo's shares were up 47.5% this year.

Persons: Markus Manns, Jefferies, Wegovy, Novo, Eli Lilly's, Lilly, Novo's, Maggie Fick, Boleslaw Lasocki, Medha Singh, Louise Heavens Organizations: Novo Nordisk, Novo, Union Investment, Reuters, Pfizer, Jefferies, U.S, Thomson Locations: United, Germany, Novo, U.S, Bengaluru

☆ Here's what Wall Street is saying about obesity drug Wegovy following Novo Nordisk's key study
▼ + stars: | 2023-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Wegovy contains semaglutide, the same active ingredient in Novo's type 2 diabetes drug Ozempic. A rising tide for Eli Lilly? Though the study was specifically about Wegovy, Wall Street sees a positive readthrough for similar medications from other providers, particularly Eli Lilly 's Zepbound. Similarly, UBS analyst Trung Huynh called the weekend data a "best-case" scenario for Eli Lilly. And the positive outcomes for both in the Wegovy study can be viewed as encouraging for how Zepbound should perform, the analyst added.

Persons: Morgan Stanley, Mark Purcell, Richard Vosser, Peter Verdult, Eli Lilly, Eli Lilly's, Lilly, Andrew Baum, Trung Huynh, That's, it's, Zepbound, Huynh, Citi's Baum, James Shin isn't, Michael Bloom, Christina Cheddar Berk, Angelica Peebles Organizations: Novo Nordisk, American Heart Association, cardiologists, JPMorgan, Citi, ., UBS, North American, Tandem Diabetes Care, Deutsche Bank

☆ Pfizer wants in on the weight loss drug market – and upcoming data will be crucial for its success
▼ + stars: | 2023-11-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

As its Covid gains evaporate, Pfizer wants a chunk of the budding weight loss drug market. Those companies helped spark the weight loss drug industry gold rush over the last year with their weekly obesity and diabetes injections, such as Novo Nordisk's Wegovy and Ozempic and Eli Lilly's Mounjaro. They want to see the drug cause a similar level of weight loss as a once-daily pill from Eli Lilly. "If Pfizer's data is positive, then I think people might be able to look beyond all this Covid overhang," Cantor Fitzgerald analyst Louise Chen told CNBC. A weight loss pill could be a boon for all three companies.

Persons: Eli Lilly, Eli Lilly's Mounjaro, Albert Bourla, –, Cantor Fitzgerald, Louise Chen Organizations: Pfizer, Novo Nordisk, Nordisk's Wegovy, CNBC

☆ Weight-loss drugs just got cheaper — and better
▼ + stars: | 2023-11-11 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Eli Lilly just debuted its powerful new weight-loss drug, Zepbound. Normally, when newer, better drugs are introduced, they match the price of similar drugs already available or come at a premium . Eli Lilly and Novo Nordisk have said that about 50 million people have some level of insurance coverage for weight-loss drugs. But some experts were skeptical, because employers and insurers don't typically pay the list price for drugs. Craig Garthwaite, an economist at Northwestern University, argued competition will drive the net prices of weight-loss drugs lower still.

Persons: Eli Lilly, —, Wegovy, LLY, It's, Mike Mason, coinsurance, Antonio Ciaccia, Crystal, We're, David Risinger, Dave Ricks, David Ricks, Eli Lilly's Mason, Mason, Craig Garthwaite, Garthwaite Organizations: Service, pharma, Nordisk's Wegovy, Ozempic, Deutsche Bank, 46brooklyn Research, Crystal Cox, Novo Nordisk, Zepbound, Wegovy, American Enterprise Institute, Northwestern University Locations: Mounjaro

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