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☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

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

☆ Investors reject Sanofi's cure to sickly valuation
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

LONDON, Oct 27 (Reuters Breakingviews) - Sanofi (SASY.PA) investors dislike CEO Paul Hudson’s prescription to reinvigorate the pharmaceutical group’s weak valuation. Analysts polled by LSEG expect the division to hit an EBIT of 1.6 billion euros this year. On listed rival Haleon’s 15.6 times multiple, that business could be worth 25 billion euros. The rest of the Sanofi business may generate EBIT of 11.4 billion euros. The problem is that investors don’t appear to want to take the harsh medicine that leads to a cure.

Persons: Paul Hudson’s, Ernst & Young, Sanofi, EBIT, Roche, Karen Kwok, Francesco Guerrera, Streisand Neto Organizations: Reuters, Sanofi, Ernst, LSEG, Novartis, Novo Nordisk, GSK, AstraZeneca, X, Unilever, Thomson

Such forecasts have prompted a sell-off in a wide range of companies from makers of bariatric surgery devices to companies whose products address the health issues created by excess weight, from diabetes to sleep apnea. "The market is in a shoot-first, ask-questions-later mood when it comes to weight-loss drugs," said Nicholas Anderson, manager of the Thornburg International Growth Fund, which holds shares of Novo Nordisk. By contrast, the iShares U.S. Medical Devices exchange-traded fund has lost more than 22% in the last three months. Injectable weight-loss drugs, known as GLP-1 receptor agonists, are considered highly effective but are also expensive, costing more than $1,300 per month. "Overall, we'll see an increased interest in bariatric surgery, but that will get delayed in the short term."

Persons: Doctor Thomas Horbach, Wegovy, Nicholas Anderson, Eli Lilly, Kenneth Stein, Margaret Kaczor Andrew, William Blair, Michael Farrell, Jeff Jonas, Johnson, Myriam Curet, Ann Hynes, Hynes, David Gaffen, Manas, Michael Erman, Caroline Humer, Sonali Paul Organizations: Novo Nordisk, Healthcare, Growth Fund, Medical Devices, Boston, Gabelli Funds, Johnson, Reuters, Mizuho Securities, Manas Mishra, Thomson Locations: Germany, Munich, Danish, U.S, Boston, GLP, New York, Bengaluru

☆ 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

☆ As Ozempic and Wegovy take off, this tech startup just raised $20 million to tackle weight loss with data
▼ + stars: | 2023-10-24 | by ( Ashley Capoot | ) www.cnbc.com time to read: +6 min

Weight loss has always been big business, but it's exploded of late due to surging demand for Ozempic, Wegovy and other new diabetes and obesity drugs. "Whether you have five pounds to lose or 100, we want to make sure we're able to help everybody," Sharam Fouladgar-Mercer, Signos' co-founder and CEO, told CNBC in an interview. Fouladgar-Mercer said he created the company in 2018 partly because of his own struggle to manage weight throughout his life. Users can also integrate sleep data, heart rate data, and exercise data from their Apple Watch to personalize their profile even more. Fouladgar-Mercer said Signos can work well alongside Ozempic and Wegovy from Novo Nordisk and other GLP-1 treatments.

Persons: Signos, Mercer, it's, It's, GLP Organizations: Cheyenne Ventures, GV, Google Ventures, Dexcom Ventures, CNBC, Signos, U.S . Food, Drug Administration, Apple Watch, Abbott Laboratories, U.S, Novo Nordisk, Nordisk's Locations: Mercer, Novo, Europe, Fouladgar, America

☆ CNBC Daily Open: Oil deals ahead of Big Tech earnings
▼ + stars: | 2023-10-24 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

In this article GOOGL Follow your favorite stocks CREATE FREE ACCOUNTOmar Marques | Lightrocket | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Unlike more focused software companies, Microsoft "has full geographic coverage across all industry verticals," UBS analyst Karl Keirstead said, and that makes Microsoft less susceptible to downturns in any one sector or region. Most analysts predict the sales of weight loss drugs such as Wegovy and Mounjaro could easily exceed $100 billion. Still, that's conservative compared to Guggenheim's expectations of $150 billion to $200 billion in sales.

Persons: Omar Marques, Hess, Canaccord, Tony Dwyer, Karl Keirstead, Mounjaro, drugmaker Eli Lilly Organizations: Lightrocket, CNBC, Big Tech, Nasdaq, Chevron, Exxon Mobil, Stocks, Microsoft, UBS, Wall Street, Citi, Novo Nordisk Locations: .

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

☆ AI, weight loss drugs and more: Portfolio manager names stocks to play 'new secular growth themes'
▼ + stars: | 2023-10-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

And then you overlay on top of that the emergence of two or three brand new secular growth themes," he said. CNBC Pro takes a look at the stocks he likes in three "brand new" areas of growth: obesity drugs, reshoring and artificial intelligence. Reshoring infrastructure Ayer sees bright spots in the reshoring theme too. The portfolio manager named tech giant Amazon as a good play of the AI wave. The way Ayer sees it, more companies in the U.S. are foraying into AI right now, compared to those in other parts of the world.

Persons: Sanjay Ayer, Ayer, He's bullish, —, Christina Cheddar Berk, Carmen Reinicke, Julie Coleman Organizations: CNBC Pro, WCM Investment Management, Equity Fund, Nordisk, Novo Nordisk, U.S . Food, Drug Administration, Tetra Tech, Canadian, Canadian Pacific, U.S Locations: U.S, China, Japan, India

☆ Ozempic Maker Novo Nordisk Has a Weight Problem
▼ + stars: | 2023-10-23 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Ozempic packets at a Novo Nordisk facility. When the company’s shares become more than 10% of Danish fund managers’ holdings, they are forced to sell. Photo: Carsten Snejbjerg/Bloomberg NewsThe company behind diabetes and obesity phenomena Ozempic and Wegovy is overweight. Novo Nordisk became Europe’s most valuable company last month, overtaking luxury goods maker LVMH, which itself took the title from food giant Nestlé in 2021. This might be a reason why the shares trade at a discount to those of its closest peer, U.S.-listed Eli Lilly .

Persons: Carsten Snejbjerg, Eli Lilly Organizations: Novo Nordisk, Bloomberg Locations: Novo, Danish

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 RightsLONDON/NEW YORK, Oct 23 (Reuters) - The growth in demand for appetite suppressing anti-obesity drugs like Novo Nordisk's (NOVOb.CO) Wegovy presents opportunities for food manufacturers and the market's initially downbeat reaction may be overdone, investors say. Still, the stock market impact left some food manufacturers "trembling," said John Plassard, senior investment specialist at Nestle investor Mirabaud Group. The uptake in appetite suppressing drugs seems to be a U.S.-led dynamic, said My Nguyen, research analyst at Legal & General Investment Management America. "Elsewhere, trends such as wealthier, more mobile middle classes in emerging countries can support shifts towards snacking and convenience foods."

Persons: Victoria Klesty, Richard Saldanha, Wegovy, Kiran Aziz, Mark Schneider, John Plassard, Brian Frank, Frank, Nguyen, Richa Naidu, Matt Scuffham, Kirsten Donovan Organizations: REUTERS, Walmart, Nestle, Aviva, Novo Nordisk, EY, Industry, Health Sciences, Wellness, Mirabaud, Tyson Foods, Arcos Dorados, Legal, General Investment Management America, Germany's, Investments, Unilever, Coca Cola, Thomson Locations: Oslo, Norway, Victoria, United States, Denmark, Germany, Arda, Ural, U.S

☆ Ozempic and Wegovy Don’t Cost What You Think They Do
▼ + stars: | 2023-10-22 | by ( Gina Kolata | More About Gina Kolata | ) www.nytimes.com time to read: +1 min

A recent paper published by the American Enterprise Institute revealed that the net prices for the new obesity drugs are just a fraction of the published annual list prices. And while the drugs’ prices remain out of reach for many, economists anticipate they will soon be driven down. More than a dozen companies are developing obesity drugs. As they enter the market, greater choice is expected to make prices plummet, as has happened with other expensive drugs. Those revenues are based on the net prices.

Persons: ”, Jalpa Doshi, Ippolito, Joseph F, Levy Organizations: American Enterprise Institute, University of Pennsylvania, Investors, Novo Nordisk, Johns Hopkins Bloomberg School of Public Health, Health Locations: Denmark, Novo

☆ 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

☆ Robot maker Intuitive's sales miss as weight-loss drugs cut into bariatric surgery demand
▼ + stars: | 2023-10-19 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Intuitive Surgical (ISRG.O) missed analysts' estimates for quarterly sales on Thursday and flagged sagging demand for its robots used in bariatric surgeries amid the growing popularity of weight-loss drugs. Shares of the da Vinci surgical robots maker tumbled nearly 7.8% to $252 in trading after the bell. On Tuesday, Johnson & Johnson (JNJ.N) signaled a hit to sale of devices used to perform abdomen surgeries such as bariatric. Such patients will eventually become increasingly interested in bariatric surgery but this will get delayed in the short term, Curet said. Bariatric surgeries grew at modestly lower rate in third quarter compared to the previous quarter, financial head Jamie Samath said, adding the company was gaining market share in the surgical segment.

Persons: Johnson, Myriam Curet, Curet, Jamie Samath, Khushi, Sriraj Organizations: Thomson Locations: U.S, Bengaluru

☆ 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

☆ GoodRx to offer Sanofi's insulin injection for only $35
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A pharmacist holds a box of the drug Lantus SoloStar, made by Sanofi Pharmaceutical, at a pharmacy in Provo, Utah, U.S. January 9, 2020. This collaboration comes after Novo Nordisk (NOVOb.CO) , Eli Lilly (LLY.N) and Sanofi pledged in March to lower the list prices of many of their insulin products by 70%-78% later in the year or in 2024. Americans with insurance typically pay a fraction of the list prices for prescription drugs, but uninsured people sometimes have to pay the full price, forcing some to ration or skip taking their medicine. About 8.4 million of the 37 million people with diabetes in the U.S. use insulin, according to the American Diabetes Association. Reporting by Khushi Mandowara in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: SoloStar, George Frey, GoodRx, Eli Lilly, Khushi, Shweta Agarwal Organizations: Sanofi Pharmaceutical, REUTERS, Sanofi, U.S ., Novo Nordisk, Novo, American Diabetes Association, Thomson Locations: Provo , Utah, U.S, Lilly, Bengaluru

☆ Pro Take: Making Medicines Greener
▼ + stars: | 2023-10-19 | by ( Cecilia Butini | ) www.wsj.com time to read: +6 min

Photo: mohamed hossam/ShutterstockMaking and supplying medicines generates roughly a third of the global healthcare industry’s greenhouse-gas emissions. Photo: Carlos Jasso/Bloomberg NewsBritish drugmaker GSK , for instance, plans to run on 100% renewable electricity by 2025 and to reach net-zero emissions across its value chain by 2045. GSK partnered with AstraZeneca , Merck KGaA, Novo Nordisk , Roche Holding , Samsung Biologics and Sanofi to form the SMI Health Systems Task Force in 2021. Last year, the partnership decided to strengthen their collaboration by focusing on cutting emissions in the near term and transitioning faster toward net-zero health systems. Novartis aims to achieve net-zero emissions across its value chain by 2040.

Persons: mohamed hossam, Carlos Jasso, “ We’ve, ”, Mike Peirce, Aurelio Arias, Arias, Claire Lund, Sanofi, Annabelle Harreguy, IQVIA’s Arias, “ It’s, ” Arias, Cecilia Butini Organizations: Pharmaceutical, Pharma, GSK, Bloomberg News British, Climate Group, Climate, Business, Sustainable Markets, Health Systems, Force, AstraZeneca, Merck KGaA, Novo Nordisk, Roche Holding, Samsung Biologics, Sanofi, SMI, Systems, Novartis, World Health Organization, cecilia.butini@wsj.com Locations: GSK’s, China, India, Novo

Real internal growth (RIG) - or a measure of sales volumes - fell 0.6%, meeting expectations. "The ultimate catalyst for the stock's multiple to improve is going to be seeing that volume number going positive." Analysts had on average expected organic sales growth of 8.1%. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8% and underlying trading operating profit margin between 17.0% and 17.5%. The drug's popularity has prompted concerns in the consumer and retail industry over whether food sales will be impacted.

Persons: Denis Balibouse, Nestle, Mark Schneider, Schneider, Richard Saldanha, Maggi, Novo, Richa Naidu, Christopher Cushing, Jason Neely Organizations: Nestle, REUTERS, Gillette, Aviva, Novo Nordisk's, Walmart, Thomson Locations: Romont, Switzerland, Ukraine

Kit Kat chocolate-covered wafer bars manufactured by Nestle are seen in London, Britain, July 25, 2018. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Nestle (NESN.S) on Thursday said it has started work on products to "companion" weight loss drugs like Novo Nordisk's (NOVOb.CO) game-changing Wegovy, hoping to cash in on their growing popularity. "We're working already on a wide range of products that could serve as companion products," Schneider said during an earnings briefing, noting that some supplements can help with the "loss of lean muscle mass" and "rapid regain of weight". "The largest parts of our portfolio will not be affected" by this new breed of weight loss drugs, he said. Wegovy has been shown to help patients reduce body weight by around 15% when used along with exercise and lifestyle changes.

Persons: Kat, Hannah McKay, Mark Schneider, Nestle, Schneider, Wegovy, Richa Naidu, Christopher Cushing Organizations: Nestle, REUTERS, Walmart, Thomson Locations: London, Britain, Swiss, United States, Norway, Denmark, Germany

☆ Sanofi to offer insulin product for $35 to all Americans through GoodRx
▼ + stars: | 2023-10-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Sanofi Lantus brand insulin pens are arranged for a photograph in the Brooklyn borough of New York, U.S., on Friday, April 5, 2019. Americans, regardless of their insurance status, can now access Sanofi 's most widely prescribed insulin for $35 through the prescription drug savings company GoodRx , the companies announced Thursday. But some patients have struggled to access the $35 price point, even with that program in place. President Joe Biden's Inflation Reduction Act also capped monthly insulin costs for Medicare beneficiaries at $35, but it did not provide protection to diabetes patients who have private insurance. Approximately 8.4 million diabetes patients rely on insulin, the American Diabetes Association said.

Persons: Sanofi, Eli Lilly, Joe Biden's Organizations: Sanofi, CVS, Walgreens, Walmart, Sanofi –, Novo Nordisk –, U.S, Pharma, Life Sciences, Centers for Disease Control, American Diabetes Association Locations: Brooklyn, New York, U.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

☆ Exclusive: Lilly hires CordenPharma to make diabetes drug Mounjaro's active ingredient -source
▼ + stars: | 2023-10-19 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

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 Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Eli Lilly (LLY.N) has hired Switzerland-based contract drugmaker CordenPharma to produce the active ingredient in its diabetes drug Mounjaro, a source familiar with the matter told Reuters on Thursday. Lilly has said it expects U.S. approval for Mounjaro for weight loss by the end of the year. The source told Reuters that CordenPharma's factory in Colorado is under contract to make tirzepatide, the active ingredient in the weekly injection. Analysts estimate the obesity market could be worth as much as $100 billion in the next decade.

Persons: Eli Lilly, Mike Segar, drugmaker, CordenPharma, Lilly, Corden, Maggie Fick, Josephine Mason, Bill Berkrot Organizations: Company, REUTERS, Reuters, CordenPharma, Novo Nordisk, Mounjaro, Thomson Locations: Branchburg , New Jersey, Switzerland, United States, Colorado, Basel, Europe, Boulder , Colorado, Boulder

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Abbott Laboratories (ABT.N) said the market was overestimating the hit to sales of its glucose monitoring products from growing popularity of new diabetes drugs, adding the treatments could end up boosting sales of the medical device maker. The company's shares have dropped 16% this year, mainly on concerns that new GLP-1 diabetes drugs such as Novo Nordisk's Ozempic and Eli Lilly's Mounjaro could eat into the sales of its continuous glucose monitoring (CGM) devices. Hurdles in health insurance reimbursement and pricing could, however, keep market growth for GLP-1 drugs limited to a small number of patients in the near term, Abbott CEO Robert Ford said on Wednesday. Third-quarter sales of FreeStyle Libre, Abbott's CGM device used by diabetes patients, jumped 30.5% to $1.4 billion, lifting Abbott's shares 3% in morning trade. The numbers helped Abbott's medical device sales that stood at $4.25 billion, beating analysts' estimates of $4.16 billion, according to LSEG data.

Persons: Brendan McDermid, Nordisk's Ozempic, Eli Lilly's, Abbott, Robert Ford, Ford, Vijay Kumar, Pratik Jain, Leroy Leo, Anil D'Silva, Shounak Dasgupta, Shinjini Organizations: Abbott, New York Stock Exchange, REUTERS, Abbott Laboratories, Nordisk's, Thomson Locations: New York City, U.S, GLP, Bengaluru

☆ GLP-1 weight loss drugs are creating opportunities for these 2 stocks, investment advisor says
▼ + stars: | 2023-10-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Developments surrounding the drugs, also popularly used for weight loss, have been disrupting anything from owners of dialysis centers to bariatric surgery providers and the food industry. But one investment advisor, Brian Krawez, president of Scharf Investments, says there are opportunities. "Many investors are concerned about the impacts of the GLP-1 drugs on a host of companies ranging from restaurants to consumer staples. Those mechanisms are the ones that help patients taking the drugs to lose weight and regulate their diabetes. They got roughly 35% market share, but a lot of people don't know the company," he said, adding that specialty pharmaceuticals — including the GLP-1 drugs —account for roughly 35% of the company's earnings.

Persons: Brian Krawez, Scharf, Mounjaro, Krawez, CNBC's, McKesson, It's, —, Christina Cheddar Berk, Julie Coleman Organizations: Scharf Investments, CNBC, Novo Nordisk, Walmart, Unilever, Unilever isn't Locations: GLP, U.S

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