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☆ Everything we know about Chinese app Temu. It sells a weird variety of things for cheap — and has some wondering if it's legit.
▼ + stars: | 2023-03-23 | by ( Grace Dean | Mary Hanbury | ) www.businessinsider.com time to read: +11 min

It's listed as the top free app in both the Google Play store and the Apple App Store, ahead of TikTok, Amazon, and Instagram. These cost savings can then be passed on to the consumer, a spokesperson for Temu told Insider. But for the average North American shopper, such low prices can actually be disconcerting, especially when they don't know much about Temu. A spokesperson for Temu told Insider that it uses its parent company's supply chain and logistics network to ship these items. Read more: I ordered my first 4 items off Chinese e-commerce app Temu and came away annoyed with the dozens of marketing emails sent after making a single purchase

Although insulin list prices are high in the U.S., drugmakers typically pay substantial rebates to private insurers and government programs, resulting in lower prices for most Americans with insurance. U.S.-listed Novo Nordisk shares rose as much as 1.7% to $142.95, while Denmark-listed shares closed marginally higher on Tuesday. Eli Lilly shares were down slightly. "I think it is a relatively natural consequence of what we have seen their competitor Eli Lilly do. Eli Lilly, Sanofi and Novo Nordisk make up 90% of the U.S. market for insulin.

☆ Novo Nordisk joins Lilly in plans to slash U.S. insulin prices
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Novo Nordisk (NOVOb.CO) said on Tuesday it would cut U.S. list prices for several insulin drugs by up to 75% next year, joining rival Eli Lilly as drugmakers come under pressure for high prices of the life-sustaining treatment. The moves follow President Joe Biden's Inflation Reduction Act last year that capped insulin prices for Medicare recipients at $35 per month, but that does not extend to patients without insurance. Novo will reduce the list price of its NovoLog insulin by 75%, and for Novolin and Levemir by 65%. The company also said it would reduce the list price of unbranded insulin products to match lowered price of respective branded insulin products. Eli Lilly and Co (LLY.N) said earlier this month that it would cut the list prices for its most commonly prescribed insulin products by 70% from the fourth quarter of this year.

☆ Novo Nordisk to slash U.S. insulin prices by up to 75%, following move by Eli Lilly
▼ + stars: | 2023-03-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Novo Nordisk Inc. NovoLog brand insulin pens are arranged for a photograph in the Brooklyn borough of New York, U.S., on Friday, April 5, 2019. Novo Nordisk, one of the world's biggest insulin makers, will cut the list price of its NovoLog insulin by 75% and the prices for Levemir and Novolin by 65%, the company said in a press release. NovoLog's list price will fall to $139.71 from $558.83 for a pack of five injection pens. The company also said it plans to reduce the list price of its unbranded insulin products to match the lowered price of each respective branded insulin. Novo Nordisk, Lilly and Sanofi control over 90% of the global insulin market.

☆ Kanye West says he's selling Balenciaga, Adidas, and Gap hoodies for $20 after the companies all cut ties with him
▼ + stars: | 2022-11-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

He showed 100 cut-up hoodies from Balenciaga, Adidas, Yeezy, and Gap, which he will sell for $20. The clothes are left over from when the companies cut ties with Ye after his antisemitic comments. Ye said: "I cut up 100 hoodies" from Yeezy, Balenciaga, Gap, and Adidas, "and everything we do is going to cost $20." The companies all cut ties with Ye in the wake of his antisemitic comments last month, with Adidas consequently halving its 2022 earnings forecast. Balenciaga and Gap did not immediately respond to Insider's request for comment, while Adidas declined to comment.

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