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FDA warns about safety risks of tailored weight-loss drugs
  + stars: | 2023-06-01 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Lucas Jackson/File PhotoJune 1 (Reuters) - The U.S. Food and Drug Administration (FDA) warned about the safety risks of using compounded or custom-made versions of popular weight-loss drugs such as Wegovy and diabetes drug Ozempic. The FDA warned patients to refrain from using a compounded drug if an approved drug is available. Compounded drugs are created by combining, mixing, or altering ingredients to create a medication tailored to the needs of an individual patient. The agency said it does not review compounded versions of these drugs for safety, effectiveness, or quality, adding, it had received reports that compounders might be using salt forms of semaglutide, which are different active ingredients than those used in the approved drugs. The U.S. is expected to account for as much as 90% of weight-loss drug sales due to the number of potential patients and higher pricing than other countries, industry analysts and executives say.
Persons: Lucas Jackson, Novo, Mariam Sunny, Rashmi Organizations: REUTERS, U.S . Food, Drug Administration, Thomson Locations: New York, U.S, Bengaluru
A look at Goldman Sachs' "conviction buy" stocks this year reveals some names with serious upside potential. The bank gave Sensata a price target of $60, or around 43% potential upside from its current level. ASML Goldman named Dutch semiconductor firm ASML in its screen of "long-term quality compounders" earlier this year. Goldman gave the U.S.-listed shares of Alibaba a 12-month price target of $136, or potential upside of 58%. Goldman gave the stock a price target of 37.30 euros ($40.20), or nearly 115% potential upside.
That realization led portfolio manager David Miller to launch the Catalyst Insider Buying Fund (INSIX) nearly 12 years ago. While many funds factor in insider transactions when selecting stocks, few use it as their main prerequisite when screening investments. But in the last 12 months, it's the best-performing large-cap fund on the market through April 30, according to Kiplinger. All of these companies have benefitted from insider buying to some extent, but some have been lifted even more by company buybacks. "They've just been gobbling up their own stock," Miller said of O'Reilly Automotive.
Goldman Sachs sees a resilient growth story in Warner Music Group as music should fare better among subscription services during recessionary periods. Warner Music Group is one of the "big three" music labels in the U.S., along with competitors Universal Music Group and Sony Music Entertainment. Music streaming is also considered an under-monetized sub-sector, creating room for revenue growth within the ad-supported tier. "Simply stated, we believe paid streaming music services will be one of the last services consumers pull back on because of its value proposition," he said. He also balked at claims music streaming is contracting.
Raging inflation, rate hikes, and an energy crisis have tumbled European stocks recently. UBS shared 23 high-quality stocks to buy to help investors navigate increasing volatility and risk. "Inflation risks remain skewed to the upside, in our view," wrote a team of UBS strategists in a report published earlier this month. 23 high-quality stocks to weather the stormBut just because there's storms ahead for the European stock market doesn't mean that investors must stay away entirely. The full list of UBS's top 23 high-quality European stock picks is below, along with each firm's ticker, key themes and drivers, and catalysts.
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