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☆ China launches 'unprecedented' crackdown on its healthcare industry amid economic woes
▼ + stars: | 2023-08-24 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

CNN —China has launched a sweeping anti-corruption campaign targeting its hospitals, pharmaceutical industry and insurance funds as it grapples with mounting economic challenges and long-standing public frustration about high costs in the behemoth healthcare sector. Some areas have set up hotlines for phoning in tips about corruption in the sector, according to state media. At least one state media report has described the campaign as “unprecedented in the depth, breadth and intensity” of targeting the healthcare sector. Despite wide health insurance coverage, absolute costs of healthcare can be a heavy burden for many in China. “Given the economic slowdown and the shrinking fiscal revenue, the debt-ridden local governments really don’t have the capabilities to invest more in the medical sector and corruption continues to be an issue,” said Huang.

Persons: That’s, Xi Jinping, Ren Jianming, Yanzhong Huang, ”, Huang, Jade Gao, Xi Chen, ” Chen, Winning Health Technology Group’s, Zhou Wei, Sun Ningling, ” “ Organizations: CNN, behemoth, Communist Party, China News Service, Center for Integrity Research, Education, China’s Beihang University, Publishing, Council, Foreign Relations, Getty Images, Yale School of Public Health, Getty, Health Commission, NHC, Central Commission, CSI, Reuters, Shanghai Serum, Winning Health Technology, Peking University People’s Hospital Locations: China, Yunnan, Shanghai, Beijing, Zhejiang, United States, New York, AFP, Guangzhou, Shenzhen

☆ How soaring demand for Ozempic and Wegovy is altering Denmark’s economy
▼ + stars: | 2023-08-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Its maker, Novo Nordisk (NONOF), has raked in almost 49 billion Danish krone in profit ($7 billion) over the first six months of this year, up 32% from the same period in 2022. Novo Nordisk also produces Ozempic, a drug developed to treat type 2 diabetes but which contains the same active ingredient as Wegovy. Surging demandShares in Novo Nordisk have soared 34% since the start of 2023 to give the company a market capitalization of 2.2 trillion Danish krone ($322 billion). The stock shot up earlier this month after Novo Nordisk published the results of a five-year trial on the impact of Wegovy on cardiovascular disease. Novo Nordisk now expects its profits to grow by up to 37% this year, much higher growth than the maximum 19% rise it forecast in February.

Persons: Jens Naervig Pedersen, Pedersen, Jaap Arriens, ” Pedersen, “ We’ve, Andrew Kenningham, “, juggernauts Roche Organizations: London CNN, Nordic, Novo Nordisk, Danish, Danske Bank, European Central Bank, CNN, Capital Economics, AstraZeneca, Kaiser Family Foundation Locations: United States, Denmark, Danish, Europe

☆ Covid-19 linked with higher risk of high blood pressure, study finds
▼ + stars: | 2023-08-21 | by ( Giri Viswanathan | ) edition.cnn.com time to read: +5 min

CNN —When it comes to developing high blood pressure, Covid-19 might play an outsized role, a new study says. Of the hospitalized Covid-19 patients, more than 1 in 5 developed hypertension during their time in the hospital, while actively infected with Covid-19, despite having no history of high blood pressure. However, in comparison with patients who were infected with the flu, Covid-19 patients had worse blood pressure outcomes. Covid-19 patients who had been hospitalized were 2.23 times as likely to develop high blood pressure as hospitalized influenza patients. But scientists are unsure how the Covid-19 virus might trigger new-onset high blood pressure.

Persons: Covid, Dr, Tim Duong, Sanjay Gupta, ” Duong Organizations: CNN, US Centers for Disease Control, CDC, American Heart Association, American College of Cardiology, Albert Einstein College of Medicine, CNN Health Locations: United States, Bronx, New York City, Covid

☆ What I learned about getting older: The scarlet letter ‘A’ is for aging
▼ + stars: | 2023-08-20 | by ( Dr. Sanjay Gupta | ) edition.cnn.com time to read: +14 min

But I don’t think we’re all aware of the age beliefs. To do that, researchers like him are targeting the essential biology of aging – the underlying reasons why we get old. When those biological processes fail or break down, we get sick – and aging is the biggest risk factor for that deterioration. In the meantime, though, remember this: Aging is probably not nearly as bad as you might imagine. And as my mom told me, we should all truly embrace getting older, because it sure as heck beats the alternative.

Persons: ”, “, Diana Nyad, ‘, Diana, I’m, Don’t, she’s, Dan Buettner, Dan, –, Becca Levy, Levy, It’s, Ellsworth, Wareham, Nir Barzilai, Barzilai, ” Barzilai, ’ ”, Dr, Sanjay Gupta, CNN’s Andrea Kane Organizations: CNN, Yale, Albert Einstein College of Medicine, Einstein Institute for Aging Research, FDA, CNN Health Locations: Cuba, Florida, United States, Japan, Ellsworth Wareham, Loma Linda , California

☆ Pain after a heart attack linked with higher risk of death over next eight years, study finds
▼ + stars: | 2023-08-17 | by ( Jen Christensen | ) edition.cnn.com time to read: +5 min

Someone in the US has a heart attack about every 40 seconds, according to the US Centers for Disease Control and Prevention. Heart disease including heart attack is the leading cause of death in the US, but most people survive their first heart attack and go on to lead a normal life, according to the American Heart Association. Additionally, pain could be a deterrent to lifestyle changes that might lower someone’s risk of another heart attack, such as exercise. Dangas said the new study could remind doctors to pay particular attention to their heart attack patients who talk about pain. Cardiac rehabilitation cuts the risk of death in the five years after a heart attack by about 35%, according to a 2016 study.

Persons: CNN —, George Dangas, ”, Dangas, “, Dr, Sanjay Gupta, they’ll, They’ll, Linda Vixner Organizations: CNN, US Centers for Disease Control, American Heart Association, Sinai Hospital, CNN Health, School of Health, Welfare, Dalarna University, Falun Locations: Sweden, Mount Sinai Queens, New York City, Dalarna

☆ Weight loss drugs are priced substantially higher in the U.S. than in other countries, analysis says
▼ + stars: | 2023-08-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

In this photo illustration, a box of the diabetes drug Ozempic rests on a pharmacy counter on April 17, 2023 in Los Angeles, California. Blockbuster weight loss drugs are priced significantly higher in the U.S. than in other large, high-income countries, according to a new analysis released Thursday. The report from KFF, a health policy organization, comes as many U.S. health insurers balk at the extreme cost of weight loss drugs and drop the medications from their plans. These list prices and the patchy insurance coverage of weight loss drugs in the U.S. undoubtedly impact accessibility. New trial data released by Novo Nordisk last week could potentially put more pressure on U.S. insurers to cover weight loss drugs.

Persons: Eli, Eli Lilly weren't, Wegovy Organizations: Blockbuster, balk, Novo Nordisk, Novo Nordisk's Wegovy, CNBC Locations: Los Angeles , California, U.S, KFF, Novo, Japan, Germany, Sweden, France, Netherlands, Danish

☆ Wegovy could prevent up to 1.5 million heart attacks, strokes over 10 years, study says
▼ + stars: | 2023-08-16 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, March 31, 2023. Novo Nordisk's blockbuster weight loss injection Wegovy could prevent up to 1.5 million heart attacks, strokes and other cardiovascular events in the U.S. over 10 years, according to a study released this week. Researchers from the University of California, Irvine, also found that Wegovy could result in 43 million fewer Americans with obesity over a decade. An estimated 83 million Americans without established cardiovascular disease would also experience heart health benefits after taking Wegovy for a decade. Wegovy would reduce the risk of serious heart problems in that population by 17.8%, which translates to 1.5 million preventable heart attacks, strokes and other cardiovascular events.

Persons: Novo, Wegovy, Nathan Wong, Ozempic Organizations: University of California, Novo Nordisk, UC, Wall Street, Disease, Nordisk's, Nordisk Locations: Chicago , Illinois, U.S, Irvine, Danish, UC Irvine's

☆ Opinion: Hitting the gym or going to yoga? Your workout clothes could be doing more harm than you realize
▼ + stars: | 2023-08-16 | by ( Opinion Alden Wicker | ) edition.cnn.com time to read: +13 min

BPA is an endocrine disruptor, meaning that it mimics or interferes with the body’s hormones. It governs weight management and your energy levels, not to mention your skin’s appearance and your ability to fend off illness. Others have tried to argue that some of the chemicals in clothing fell within the legal and regulatory limits. The signs that something is very, very wrong with our reproductive health and endocrine systems are myriad. After all, you might be undoing the benefits of hitting the gym every day when your workout clothes could be doing so much damage to your health.

Persons: Alden Wicker, Athleta, Alden Wicker Alden Wicker, There’s, bisphenol, Ashley Eskew, “, Thinx, ” Dr, Laura Vandenberg, Down, ”, Shanna, Dr, Graham Peaslee, PFAS, Swan, lipsticks, ‘, ” Eskew, Eskew Organizations: New York Times, Vox, Wired, CNN, Center for Environmental Health, Nike, IKEA, Canadian Broadcasting Corporation, CBC, US Environmental Protection Agency, Industry, University of Massachusetts Amherst, of Environmental Health Sciences, Notre, Twitter Locations: Putnam, California, Patagonia, ” North Carolina, Spain

☆ Living with air pollution, especially from wildfires or agriculture, raises risk of dementia, US study finds
▼ + stars: | 2023-08-14 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

The study authors said it’s the first nationally representative study of the potential effects of particle pollution on dementia in the US, and the link to dementia was most robust in areas with pollution from agriculture and wildfires. Pesticides are neurotoxins to animals, she said, so those may be the particles in agriculture pollution that are affecting human brains, as well. As for wildfires, the smoke doesn’t just come from burning trees; things like homes and gas stations burn too, becoming the particle pollution that people breathe in. The new study cannot determine the exact mechanism connecting particle pollution and dementia, but scientists have some theories. A study in England found that adults living with the highest annual concentration of air pollution had 1.4 times the dementia risk as those living with the lowest annual concentration.

Persons: it’s, ”, Sara Dubowsky Adar, Boya Zhang, Adar, Caleb Finch, William F, It’s, Masashi Kitazawa, Kitazawa, ” Kitazawa, Finch, Zhang, Dr, Sanjay Gupta, ” Zhang, “ Organizations: CNN, US Environmental Protection Agency, University of Michigan School of Public Health, Pesticides, ARCO, William, Kieschnick, University of Southern, World Health, Alzheimer’s Association, University of California, Alzheimer’s, CNN Health, World Health Organization Locations: United States, University of Southern California, Irvine, Canada, England, California

☆ As weight loss drug stocks rallied on a landmark study, these stocks were over sold, analysts say
▼ + stars: | 2023-08-11 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +8 min

However, the pharmaceutical companies are making the case that weight loss can improve health, and possibly lower health-care costs over time. But analysts have said the news isn't all bad for such stocks, and many were fell too low on Tuesday. Deutsche Bank analyst Imron Zafar estimated Thursday that bariatric surgery accounts for about 5% of Intuitive Surgical's U.S. robotic surgery business, but has been driving much of the company's growth. Some of the surgeons Zafar spoke with said any drop off in bariatric surgery was likely to be offset by increased use of the robot for other procedures. But they expect the drugs will remain necessary because GLP-1 drugs have yet to show they improve fibrosis, which is associated with NASH.

Persons: nonalcoholic steatohepatitis, NASH, Abbott, Robbie Marcus, Marcus, Marcus doesn't, Goldman Sachs, Goldman, Stryker, Smith, Zimmer Biomet, Bariatric, Imron Zafar, Zafar Organizations: Novo Nordisk, Abbott Laboratories, CNBC, JPMorgan, Companies, Inspire Medical Systems, Resmed, Philips, Nephew, Deutsche Bank, Madrigal Pharmaceuticals, Sagimet Biosciences, Akero Therapeutics, Terns Pharmaceuticals, Viking Therapeutics, Madrigal Locations: U.S

☆ This pharma ETF is headed for its best week of the year as investors cheer new weight loss drugs
▼ + stars: | 2023-08-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The excitement around new drugs that can help people shed weight quickly has created a banner week for certain health care ETFs. That would be its best stretch since the week ended June 24, 2022, when the fund gained 8.3%, according to FactSet. IHE 5D mountain The iShares fund focused on drugmakers is on track for its best week of the year. Zoetis , the third largest holding in the iShares fund, has rallied more than 6% this week after its second-quarter report. Meanwhile, the VanEck Pharmaceutical ETF (PPH) has gained more than 4% so far this week, which would also be its best week of the year.

Persons: Eli Lilly, Wegovy Organizations: U.S . Pharmaceuticals, Mounjaro, Novo Nordisk, VanEck Pharmaceutical Locations: U.S, Danish

☆ Obesity drug data could boost companies' case for US coverage, analysts say
▼ + stars: | 2023-08-10 | by ( Patrick Wingrove | ) www.reuters.com time to read: +5 min

Wegovy prescriptions were up 300% at their peak, according to data from Barclays, before supply issues began to hamper sales. A COMPELLING CASEAnalysts said the data made a compelling case for long-term health benefits of the drug. Analysts were divided on whether Medicare could potentially cover Wegovy as a cardiovascular treatment without a new law passing. Three doctors specializing in obesity treatment, including a cardiologist, were not sure whether such an indication would allow for Medicare coverage. Companies that provide healthcare insurance have begun pulling back on coverage of weight loss drugs because of the high cost of the medicines.

Persons: Read, Eli Lilly, Stacie Dusetzina, Wegovy, Eli Lilly's Mounjaro, Evan Seigerman, Eugene Yang, Morningstar, Damien Conover, Tom Carper, Eli Lilly's, Dusetzina, Patrick Wingrove, Elissa Welle, Ahmed Aboulenein, Caroline Humer Organizations: Novo Nordisk, U.S, Vanderbilt University, Medicare, Barclays, University of Washington Medicine, Companies, Democratic, Novo, Reuters, Democrat, Republican, Thomson Locations: New York, Danish, Washington

☆ What Extreme Heat Does to Your Body
▼ + stars: | 2023-08-10 | by ( Dana G. Smith | ) www.nytimes.com time to read: +6 min

What Extreme Heat Does to Your BodyHeat is the leading cause of weather-related deaths in the United States. While the human body is able to withstand high temperatures, unprecedented extreme heat driven by climate change is challenging our ability to adapt. (A fever can also cause body temperatures this high, especially in children, but it won’t lead to the same cascade of problems.) Heat stroke occurs when the body reaches an internal temperature of 104 degrees and above. The defining characteristic of heat stroke is confusion and delirium as the brain becomes overheated and starved of oxygen.

Locations: United States

☆ Wegovy-maker Novo Nordisk raises outlook as sales of its weight-loss drug soar
▼ + stars: | 2023-08-10 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The company's diabetes and obesity division performed particularly well, bolstered by interest in its blockbuster injection Wegovy. Novo Nordisk , which makes the weight-loss drug Wegovy, raised its outlook for 2023 Thursday, as it reported soaring sales. For 2023, the company now anticipates sales growth of 27%-33% and operating profit growth of 31%-37%, at constant exchange rates. The active ingredient in Wegovy is semaglutide, an FDA-approved drug that works by imitating a naturally-occurring gut hormone that helps to regulate appetite.

Persons: Wegovy, Lars Fruergaard Jørgensen, — Sam Meredith Organizations: Novo Nordisk, FDA Locations: Chicago , Illinois, U.S, Danish

☆ Why this landmark cardiac study means a bigger market for Lilly's blockbuster weight loss drug
▼ + stars: | 2023-08-09 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

A landmark study of the cardiovascular benefits of weight loss drug Wegovy is being seen as a pivotal step toward broadening access to these drugs. The drug, also known as tirzepatide, is expected to be approved for weight loss by the Food and Drug Administration by year-end. Notably, Medicare does reimburse obese patients for weight loss surgery, but Mounjaro has been able to help patients realize an average weight loss that approaches the typical success of bariatric procedures. If CMS is able to reimburse patients for weight loss treatment that would significantly increase access, boosting sales. "This is the first time a weight [loss] medicinal intervention has shown to have cardiovascular risk reduction.

Persons: enrollees, Eli Lilly, Lilly, Akash Tewari, NVO, Tewari, Wells, Mounjaro, Mohit Bansal, Robert Califf, Goldman Sachs, Chris Shibutani, Shibutani, Goldman, Refinitiv, Morgan Stanley, comorbidities, Bansal Organizations: Nordisk's Ozempic, Centers for Disease Control, Food and Drug Administration, Jefferies, Medicare, Services, GLP, STAT, Goldman, Lilly, Novo Nordisk, BMI, Novo Locations: U.S, GLP, Tuesday's

☆ Jefferies upgrades Eli Lilly as enthusiasm around weight-loss drugs grows following Wegovy study
▼ + stars: | 2023-08-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Jefferies is encouraged by recent results from a weight-loss drug study that could help lift Eli Lilly . Analyst Akash Tewari lauded the strong results from a recent trial study surrounding Novo Nordisk's weight loss drug Wegovy . Eli Lilly also raised its full-year guidance on Tuesday. Eli Lilly as added more than 42% upside from the start of the year. LLY YTD mountain Eli Lilly year to date — CNBC's Michael Bloom contributed to this report.

Persons: Jefferies, Eli Lilly, Akash Tewari, Wegovy, Tewari, Eli Lilly's, NVO, Michael Bloom

☆ Obesity drug Wegovy's landmark trial result could 'open up' health insurance access, analyst says
▼ + stars: | 2023-08-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Until now, some health insurers have been reluctant to cover the drug, given its high costs and a lack of data around its underlying health benefits. But the results of the latest trial data could change that. "Do I think most payers will adopt [obesity drugs] overnight because of the SELECT trial? According to the World Health Organization, global obesity rates have almost tripled over the past decade. Novo Nordisk shares soared by 17% following the release of the trial results on Tuesday.

Persons: Jim Vondruska, Peter Verdult, CNBC's, Wegovy, Verdult, Martin Holst Lange, Eli Lilly, Mounjaro, Michael Mason, Eli Lily, Lilly Diabetes, It's, Lilly, Novo, Lily Organizations: Reuters LONDON, Novo Nordisk, Citi, Novo, World Health Organization, Barclays, Citi Verdult, European Markets Authority Locations: Chicago , Illinois, Danish, U.S, Europe, London

☆ Insurers face long road, high cost to cover obesity drugs after promising Wegovy heart health data
▼ + stars: | 2023-08-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

There is likely a long way to go before the U.S. sees increased insurance coverage for obesity drugs. While the trial results demonstrate that obesity drugs may have significant health benefits beyond shedding unwanted pounds, organizations representing U.S. insurers emphasized that the data is still preliminary. "Health insurance providers will continue to analyze new evidence as it becomes available," he added. Ceci Connolly, CEO of the Alliance of Community Health Plans, acknowledged the promise of the data but said "outrageous prices should give everyone pause." The organization represents regional, community-based health plans that cover more than 18 million Americans across the U.S.

Persons: Jim Vondruska, Wegovy, Eli Lilly, David Allen, Ceci Connolly, Jared Holz, It's, Debra Tyler's, Joe Buglewicz, Eduardo Grunvald, George Frey, UCSD's Gunvald, Eli, Ethan Lazarus, Lazarus Organizations: Reuters Novo Nordisk, Novo Nordisk, America's Health, Alliance of Community Health, U.S, Drugs, Pfizer, Medicare, CVS, Aetna, CNBC, Washington Post, Getty, UCSD Health's Center, International Foundation of Employee, University of Texas System, UTS, Novo, Reuters, Obesity Medicine Association, New England, of Medicine Locations: Chicago , Illinois, U.S, Mizuho, Killingworth, Conn, Texas

☆ Eli Lilly CEO on meeting demand for expected obesity drug Mounjaro: 'It’s my top priority'
▼ + stars: | 2023-08-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Eli Lilly CEO Dave Ricks told CNBC's Jim Cramer on Tuesday his top priority was to meet demand for the company's drug, Mounjaro, which is currently only approved by the Food and Drug Administration to treat diabetes but is expected to soon be cleared to treat obesity, along with other health conditions. Eli Lilly stock surged 15% Tuesday after its better-than-expected earnings report. He likened obesity to depression, noting Eli Lilly's role in manufacturing Prozac, the depression drug. We know that's not true, there's something called clinical depression," Ricks said. I think in five, 10 years we'll look back and think about chronic weight management and obesity the same way."

Persons: Eli Lilly, Dave Ricks, CNBC's Jim Cramer, Ricks, FactSet —, Eli Lilly's Organizations: Food and Drug Administration Locations: North Carolina

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Eli Lilly (LLY.N) on Tuesday raised its annual forecasts after beating estimates for quarterly results, driven by strong demand for its new diabetes drug Mounjaro, ahead of a decision on its use as a weight-loss treatment. The company is leaning on Mounjaro, approved last May in the U.S. for diabetes, to soften the hit from insulin price cuts and competition for cancer therapy Alimta. A decision on Mounjaro to treat obesity, expected later this year, could help the drugmaker tap a multi-billion dollar market. Lilly now expects annual revenue in range of $33.4 billion to $33.9 billion, compared with its prior range of $31.2 billion to $31.7 billion.

Persons: Eli Lilly, Mike Segar, Mounjaro, Wells, Mohit Bansal, Lilly, Bhanvi Satija, Mariam Sunny, Sriraj Organizations: Company, REUTERS, Novo Nordisk, Thomson Locations: Branchburg , New Jersey, U.S, Bengaluru

☆ Wegovy shown to reduce risk of heart attack, stroke in major cardiovascular trial
▼ + stars: | 2023-08-08 | by ( Meg Tirrell | ) edition.cnn.com time to read: +3 min

CNN —The weight loss drug Wegovy was shown to reduce the risk of heart attack, stroke or heart disease-related death by 20% in a major clinical trial in people with cardiovascular disease, the first to show a weight loss drug alone can have such protective effects. It called the five-year trial “Select.”The finding of a 20% reduction in heart risk is higher than many experts had anticipated. A similar trial for the type 2 diabetes drug Ozempic, which uses the same ingredient, semaglutide, previously showed it could reduce cardiovascular risk by 26% — but no trial had yet shown a risk reduction in people without diabetes. It said it will present detailed results from the trial at a scientific conference later this year. It’s awaiting US Food and Drug Administration approval for weight loss as well.

Persons: Wegovy, 2.4mg, ”, Martin Holst Lange, Novo, Dr, Willa Hsueh, Jena Shaw Tronieri, Sanjay Gupta, Fuller, Steven Nissen, Eli Lilly, It’s, ” Nissen, he’d Organizations: CNN, Novo Nordisk, Diabetes, Metabolism Research, Wexner, The Ohio State University, Clinical Services, Center, Perelman School of Medicine, University of Pennsylvania, Nordisk, CNN Health, Cleveland, Food and Drug

☆ Here's what is behind the stock market's selloff and what we're doing about it
▼ + stars: | 2023-08-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Eli Lilly surges Club name Eli Lilly (LLY) skyrocketed more than 16% on hopes for Mounjaro's use to prevent major cardiovascular events. As for strong earnings, which also helped the stock, Eli Lilly had a great quarter and raised full-year guidance. Since Friday's 8% loss on a competitor's misfortunate, PANW shares have been down Monday and now Tuesday as well. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Eli Lilly, Moody's, Dow, Morgan Stanley, selloff, Mounjaro, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Energy, Novo Nordisk, Palo, Alto Networks, JPMorgan Locations: Stocks, Wells Fargo, Novo, .

☆ Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The health care company reported earnings per share of $1.31. Organon posted $1.61 billion in revenue, beating analysts' expectations of $1.57 billion. Beyond Meat — The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts' estimates of $3.07 billion, according to StreetAccount. See Corp. — Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter.

Persons: Moody's, Goldman Sachs, JPMorgan Chase, Organon, StreetAccount, Chegg, Charlie Ergen, EchoStar, Eli Lilly —, Eli Lilly, Palantir, —, Samantha Subin, Jesse Pound, Alex Harring, Hakyung Kim Organizations: PNC Financial, Citizens, T Bank —, T Bank, Webster, PNC, JPMorgan, Nordisk —, Technologies, Refinitiv . Fox Corp, Corp, —

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The study called SELECT involved 17,500 patients aged 45 years or older with no prior history of diabetes and started almost five years ago testing if the weekly injection has medical benefits. The landmark trial data shows Wegovy has "the potential to change how obesity is regarded and treated," said Martin Holst Lange, executive vice president for development at Novo Nordisk, in a statement. Novo Nordisk said it expects to file for regulatory approvals of a label indication expansion for the weekly injection in the United States and European Union this year. The detailed results from the trial will be presented at a scientific conference later in 2023.

Persons: Jim Vondruska, Wegovy, Danish drugmaker, That's, Martin Holst Lange, Soren Lontoft Hansen, Novo, Maggie Fick, Nikolaj Skydsgaard, Josephine Mason, Sharon Singleton, Kirsten Donovan Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Nordisk, European Union, World Health Organization, Barclays, Thomson Locations: Chicago , Illinois, U.S, LONDON, Danish, Europe's, United States, Europe, European, Norway, Denmark, Germany, Norwegian

☆ Obesity drugs take brakes off Big Pharma’s growth
▼ + stars: | 2023-08-08 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

That’s what Eli Lilly (LLY.N) did in the second quarter, thanks to demand for its diabetes and weight loss drug Mounjaro. While doctors are currently free to prescribe Mounjaro for obesity, insurers and governments typically won’t pay for what some still insist is a vanity treatment. Even so a regulatory green light, and clear evidence that these drugs have tangible health benefits, will help loosen purse strings. The brakes are off these firms’ growth, and investors are counting on them remaining so. Mounjaro, the company’s diabetes drug, brought in revenue of $980 million, compared to $16 million a year ago.

Persons: Eli Lilly, LLY.N, Lilly, That’s, David Ricks, Mounjaro, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Novo Nordisk, U.S . Food, Drug Administration, Merck, Investors, Thomson Locations: Danish, U.S, Novo

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