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☆ Danish drug maker Novo Nordisk to invest $744 mln to expand facilities in Bagsvaerd
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

Nov 22 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) announced on Tuesday it planned to invest 5.4 billion Danish crowns ($744.09 million) to expand its existing facilities in Bagsvaerd. The investment project is expected to be finalised in 2024 and create about 160 new jobs, the company said in a statement. ($1 = 7.2572 Danish crowns)Reporting by Rahat SandhuOur Standards: The Thomson Reuters Trust Principles.

☆ What Is Ozempic and Why Is It Getting So Much Attention?
▼ + stars: | 2022-11-22 | by ( Dani Blum | More About Dani Blum | ) www.nytimes.com time to read: +2 min

Ozempic, a drug used to treat diabetes, keeps gaining attention as celebrities, a tech mogul and TikTok influencers have described taking it to lose weight in short time frames. Elon Musk, when asked about how he looked “fit, ripped and healthy,” tweeted that he was taking Wegovy. On TikTok, the hashtag #Ozempic has been viewed over 273 million times, with people alternately expressing shock over their supposed medication-induced weight loss and swapping stories about side effects. Ozempic and Wegovy are not the only medications gaining popularity for their weight loss effects. Dr. Narang herself has seen patients “who have somehow gotten their hands on this,” taking the medication off-label, she said.

Persons: TikTok, Elon Musk, ”, Andy Cohen, “, Ozempic, Eli Lilly, Disha, Narang Organizations: Drug Administration, Variety, Northwestern Medicine Lake Forest Hospital, Novo Nordisk Locations: Britain, Northwestern, Ozempic

☆ Is Patagonia the end game for profits in a world of climate change?
▼ + stars: | 2022-11-20 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +5 min

As far back as 1985, Patagonia deployed portions of its profits to the environment, via an "Earth tax." "The Patagonia model is a little more sophisticated." It often is very attractive from a corporate tax perspective, too, which has been noted of both the Ikea and Patagonia business models. One hundred percent of Patagonia profits are now committed to its new non-profit Holdfast Collective — which owns all of the company's non-voting stock (98% of the total stock). "What people fail to understand about Patagonia, both the past and the future, is that we are unapologetically a for-profit business, and we are extremely competitive," Ryan Gellert said.

The main active ingredient in Ozempic is semaglutide, which is also the key ingredient in Novo's obesity drug Wegovy. Several less efficacious obesity drugs from multiple drugmakers have previously been approved, but bungled launches and serious side effects led to tepid sales and even some market withdrawals. Novo faces looming competition from Eli Lilly (LLY.N), whose weekly injection Mounjaro won U.S. approval for type 2 diabetes in May and is under fast-track review as a weight-loss drug. Amgen (AMGN.O) also has an early-stage, once-monthly obesity drug that is being keenly watched. Elon Musk, the world's richest person and now Twitter owner, has offered his own endorsement of the weight-loss benefits of semaglutide on the social media website.

☆ Weight loss startups offer access to new drugs, but do they provide good care?
▼ + stars: | 2022-11-13 | by ( Darius Tahir | Kaiser Health News | ) www.nbcnews.com time to read: +11 min

Now a wave of startups offer access to a new category of drugs coupled with intensive behavioral coaching online. These patients pay hundreds, if not thousands, of dollars, to access new drugs, called GLP-1 agonists, along with online coaching to encourage healthy habits. (That price includes generic drugs, but not the newer GLP-1 agonists, like Wegovy.) The firms say they’re on the vanguard of weight care, both citing the influence of biology and other scientific factors as key ingredients to their approaches. Found said older generics like zonisamide are more accessible than the GLP-1 agonists advertised on social media and their own website.

☆ Market veteran says a new bull market is 'not far away' — and reveals how to play it
▼ + stars: | 2022-11-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

The stock market has experienced a series of bear market rallies this year. Demmert said the bear market is now its "third and final phase." It is now in its 11 th month of a typical 12–15-month cycle, according to Demmert — indicating that a bottom could be close. "It's sort of an all-weather company at this point because they have the dominant exposure in that market globally. "That's where people go where they think it's safe, such as Google [parent Alphabet ] and Microsoft in the tech space.

☆ New obesity drugs win support of doctors and insurers, which could lift these pharma names even higher
▼ + stars: | 2022-11-03 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

They are also increasingly being prescribed by doctors and covered by insurers – a win for patients and for investors. According to Novo Nordisk , the maker of weight-loss drug Wegovy, about 80% of anti-obesity medications are being covered by health insurers, Meacham said. Novo's semaglutide is branded Wegovy as a weight-loss treatment and Ozempic for the treatment of type 2 diabetes. When combined with lifestyle modifications, patients taking Wegovy can sustain a 15% weight loss , according to late-stage clinical trial data. Eli Lilly has a competing drug, Mounjaro, that uses both GLP-1 and a second incretin, glucose-dependent insulinotropic polypeptide, or GIP.

An earlier study in adults showed that the drug did indeed help with weight loss. “We’ve entered the phase where we are seeing the kind of weight loss where teens come to us in tears. In addition to the weight loss, the drug reduced some cardiovascular risk factors, including waist circumference and bad cholesterol. As it turns out, even when people get weight loss surgery, “three years out, there is significant weight gain,” Li said. When a weight loss drug like this is prescribed to patients, that shouldn’t be the end of things, Li said.

☆ European shares rise ahead of Fed, Novo Nordisk boosts healthcare stocks
▼ + stars: | 2022-11-02 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) rose 0.3% by 0858 GMT, hovering near seven-week highs. Novo Nordisk (NOVOb.CO) jumped 5.4% as it raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic and reported a better-than-expected profit. European healthcare stocks (.SXDP) led sectoral gains with a 1.2% rise, while banks (.SX7P) advanced 0.3% ahead of what is expected to be the Fed's fourth straight 75-basis-point increase to interest rates. "There are high hopes that he will signal that there could be some softening in the U.S. central bank's aggressive approach to taming inflation." Danish hearing aid maker Demant (DEMANT.CO) tumbled 13.6% to the bottom of the STOXX 600, after it cut its full-year revenue and profit guidance for the second time in the year.

☆ Novo Nordisk sees faster profit growth on demand for diabetes drug Ozempic
▼ + stars: | 2022-11-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Danish drugmaker Novo Nordisk (NOVOb.CO) raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic, also reporting a better-than-expected profit. Nine-month operating profit rose 28% to 57.7 billion Danish crowns ($7.66 billion), above the 56.8 billion forecast by analysts, according to Refinitiv data. It reiterated that it expects to make all doses of weight-loss drug Wegovy, a future growth driver, available in the United States towards the end of 2022, as it seeks to overcome production problems. "The growth is driven by increasing demand for GLP-1-based diabetes treatments, especially Ozempic," CEO Lars Fruergaard Jorgensen said. Novo faces keen competition from Eli Lilly, whose monthly injection Mounjaro won U.S. approval for type 2 diabetes in May and it is under fast-track review as a potential weight-loss drug.

☆ Eli Lilly's growth tied to nascent diabetes drug sales
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Wall Street analysts will be focusing on sales of Eli Lilly and Co's (LLY.N) newly approved diabetes drug Mounjaro when the company reports results on Tuesday, as sales of its older drugs come under pressure from increased competition and low pricing. The company's sales could quickly jump once Lilly gets more insurers to cover its costs, according to Risinger. Analysts expect Mounjaro sales of $81 million in the third quarter, months into its U.S. launch, according to Refinitiv data. Lilly's sales are expected to increase to $30.23 billion in 2023, versus reported sales of $24.54 billion in 2021, with Mounjaro expected to bring in $1.34 billion in sales and become the company's third-biggest selling drug, according to Refinitiv data. Growth from older drugs such as Humalog and Alimta has slowed downTHE FUNDAMENTALS** Q3 sales expected to grow 1.8% to $6.89 billion.

☆ A recession looks increasingly likely. But Goldman Sachs says these stocks could beat the gloom
▼ + stars: | 2022-10-21 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Central banks are relentlessly hiking interest rates to rein in inflation — even at the expense of economic growth — prompting fears of a recession. "Concerns on sticky inflation and a tight labor market have focused investor attention on implications for rising rates and recession risk. Those stocks have high and expanding cash return on capital invested and return on equity, according to the bank. BlackRock says that's now an 'obsolete' strategy Investors keen to add growth names to their portfolio could also look to Goldman's list of high growth stocks. The bank also identified high growth names that are trading at an attractive valuation, including Watches of Switzerland and Standard Chartered .

☆ Schlumberger evaluates options for Russia staff as Ukraine war escalates -CEO
▼ + stars: | 2022-10-20 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Oilfield services provider Schlumberger (SLB.N) is evaluating unspecified options for its thousands of Russian employees as the war in Ukraine escalates, Chief Executive Olivier Le Peuch told Reuters an interview. Among Western companies that did not exit following the February invasion of Ukraine, Schlumberger is one of the biggest employers in Russia. Ukrainian Foreign Minister Dmytro Kuleba in a tweet blasted the firm's Russia presence as contributing to war crimes and genocide. President Vladimir Putin last month issued a decree seeking to add 300,000 troops to the war effort amid high casualties in Ukraine. Le Peuch said Schlumberger "management in the country is pursuing all options to assist employees," without providing details.

The cost of insulin remains a barrier for many Americans with diabetes who depend on the drug, research published Monday suggests. It was the first time that the CDC had included questions about insulin use, though concerns about sky-high insulin prices have been reported for years. Meanwhile, those with public health coverage, such as Medicaid and Medicare, had the lowest rates of rationing. According to the American Diabetes Association, people with type 1 diabetes need, on average, two to three vials per month. He said the "most ambitious" proposal he would like to see in the U.S. is universal health coverage with no copays for consumers.

☆ Texas-based oil giant accused of failing to help its Russian workers avoid being conscripted by Putin, report says
▼ + stars: | 2022-10-15 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Schlumberger is passing draft notices on to some of its 9,000 Russian employees, Reuters reported. Some workers have begun receiving draft notices ordering them to join the Russian army, according to a report by the news agency. The BHRRC told Reuters that Roche and Novo Nordisk, two other non-Russian companies, had requested military exemptions for their employees. "The local leadership team is managing an incredibly complex and difficult situation," a Schlumberger spokesperson told Reuters in an emailed statement. The US-based spokesperson added that managers were obliged "to comply with local laws and regulations, especially when failure to do so could create additional risk for our local employees."

☆ EXCLUSIVE Schlumberger faces employee backlash in Russia over cooperation on draft
▼ + stars: | 2022-10-14 | by ( Liz Hampton | ) www.reuters.com time to read: +5 min

Human rights groups are watching how the company responds to the concerns. Schlumberger suspended new investments and technology deployment in Russia, but unlike some of its peers and customers, decided to remain. Schlumberger leaves decision-making on Russia employment policies to local managers, the U.S.-based spokesperson said. The Business & Human Rights Resource Centre requested information from Schlumberger and other non-Russian companies with operations in the country on their handling of the mobilization. Schlumberger rivals Baker Hughes (BKR.O) and Halliburton (HAL.N) are selling or have sold their oilfield services units in Russia.

The 26-year-old had been recently removed from his parents' health insurance plan and was about $300 short of the $1,300 he needed to pay for his insulin medication, his mother said. Though drugmakers often offer programs that can lower the out-of-pocket cost of insulin for both insured and uninsured patients, the financial burden can still be devastating for some. Why insulin remains unaffordableBut why does insulin — a medication that’s been around for more than 100 years — remain unaffordable for many people in the U.S.? Meanwhile, state and federal lawmakers are pushing for legislation that would lower the out-of-pocket cost for patients on insulin. She is pushing for more states to adopt the Alec Smith Insulin Affordability Act, which provides an emergency 30-day supply of insulin to patients for $35.

☆ Organizaţia Mondială a Sănătăţii cere scăderea preţului insulinei
▼ + stars: | 2021-04-14 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Cu ocazia acestei aniversări centenare, OMS a lansat un Pact Mondial împotriva Diabetului, care are obiectivul de a reduce riscurile de dezvoltare a bolii şi de a permite tuturor persoanelor diagnosticate să aibă acces la tratament şi la îngrijiri medicale care să fie accesibile. "Necesitatea de a lua măsuri urgente împotriva diabetului este mai clară ca niciodată", a declarat directorul general al OMS, Tedros Adhanom Ghebreyesus, într-un comunicat. Peste 420 de milioane de persoane suferă de diabet, iar cele mai multe dintre ele trăiesc în ţări în curs de dezvoltare. Trei producători domină aproape în exclusivitate piaţa mondială (Eli Lilly, Novo Nordisk şi Sanofi) şi fixează preţuri care, potrivit OMS, se dovedesc a fi prohibitive pentru mulţi indivizi şi multe ţări.În 2019, OMS a lansat un program ce vizează intrarea în procedură de pre-autorizare a produselor fabricate de alte companii farmaceutice. "Este un eşec pentru societatea şi comunitatea internaţională dacă persoanele care au nevoie de insulină întâmpină dificultăţi financiare pentru a achiziţiona acest medicament", a subliniat Tedros Adhanom Ghebreyesus.

Persons: OMS, Eli Lilly Organizations: OMS Locations: Novo Nordisk

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