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☆ Oprah's flip on weight loss drugs is a sign of what's to come for the 'Ozempic trade' in 2024
▼ + stars: | 2023-12-25 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Lilly's Zepbound recently entered the weight loss market, and is off to a strong start. But what's ahead for the weight loss trade in 2024? Beyond weight loss One of 2023's most pivotal events in the space was Novo Nordisk's release of top line results from its Select trial in August . In 2023, the exuberance around weight loss drugs roiled markets in many unexpected ways. The affected companies have also been very vocal in addressing how they plan to coexist with these weight loss products.

Persons: Oprah Winfrey, Eli Lilly, they've, Lilly's, Lilly's Zepbound, Andy Acker, Janus Henderson's, Lilly, Novo, FactSet, Acker, Janus, Buzz, Gregory Renza, Renza, Goldman Sachs, Chris Shibutani, Mike Kratky, Kratky, Dexcom, Leerink, Winfrey, I've, Winfrey's, Michael Bloom Organizations: Novo Nordisk, Wall Street, Wall, RBC Capital, Pfizer, Structure Therapeutics, AstraZeneca, Leerink, Nestle, Oprah Daily, Winfrey, International Locations: Friday's, Eccogene, MedTech, 3Q23

☆ Eli Lilly vs. Novo Nordisk: The pros deliver their verdict on the viral weight-loss stocks
▼ + stars: | 2023-12-06 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

It has been quite a year for both Eli Lilly and Novo Nordisk given the boom in weight-loss drugs. Shares in Eli Lilly are up around 60% year-to-date, while its Danish counterpart Novo Nordisk has seen a gain of around 50%. At present, both Eli Lilly and Novo Nordisk offer weight loss treatments. Novo Nordisk Novo Nordisk's Wegovy recently made headlines for reducing the risk of heart attacks and strokes by 20% in adults with heart disease and obesity. Aside from Eli Lilly and Novo Nordisk, Pfizer , Johnson & Johnson and AstraZeneca are also developing weight-loss drugs.

Persons: Eli Lilly, Stocks, Rahul Ghosh, Rowe Price, TRP's Ghosh, Eli Lilly's, Ghosh, FactSet, Lilly, Novo Nordisk Novo Nordisk's Wegovy, Elizabeth Field, Squawk, What's, it's, Michael Bloom Organizations: Novo Nordisk, Nordisk, CNBC Pro, U.S . Food, Administration, pharma, Novo Nordisk Novo Nordisk's, Heart Association Scientific, Citi, Pfizer, Johnson, AstraZeneca, Barclays Locations: Danish, U.S, Novo

☆ Roche’s late obesity punt offers wider market cure
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann Acquire Licensing RightsLONDON, Dec 4 (Reuters Breakingviews) - Roche’s (ROG.S) foray into the prospective $100 billion obesity market can bring wider benefits. On Monday, the $224 billion Swiss pharma group said it had agreed to take over weight-loss drug developer Carmot Therapeutics for $2.7 billion. Market leader Novo Nordisk (NOVOb.CO) is already selling obesity drugs in the U.S. and parts of Europe. Still, Schinecker’s obesity bet could turn successful if it ends up undercutting obesity pioneers on prices. With over 1 billion people globally classed as seriously overweight, other drugmakers will follow Roche on the obesity bandwagon.

Persons: drugmaker Roche, Arnd, Eli Lilly’s, Thomas Schinecker, Eli Lilly, Eccogene, Roche, Aimee Donnellan, Neiman Marcus, Lisa Jucca, Oliver Taslic Organizations: REUTERS, Reuters, Swiss pharma, Carmot Therapeutics, Novo Nordisk, U.S . Food, Drug Administration, AstraZeneca, Novo, X, Saks, Thomson Locations: Basel, Switzerland, U.S, Europe, Hong Kong

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Dec 4 (Reuters) - Roche (ROG.S) agreed to take over obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion, joining a list global contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk (NOVOb.CO) and Eli Lilly. After encouraging Phase I trial results, the drug is ready to be tested on humans in the second of three trial stages, Roche added. Among recent deals to acquire obesity drug development projects, AstraZeneca (AZN.L) last month agreed to pay up to $2 billion for the rights to an experimental pill from China's Eccogene. Roche will obtain access to Carmot's current R&D portfolio including all clinical and preclinical assets.

Persons: drugmaker Roche, Arnd, ROG.S, Eli Lilly, Swiss drugmaker, Roche, . New Roche, Thomas Schinecker, Ludwig Burger, Noel Illien, Rachel More, Louise Heavens Organizations: REUTERS, Rights, Carmot Therapeutics, Novo Nordisk, AstraZeneca, Pfizer, Thomson Locations: Basel, Switzerland, Swiss, ., Alzheimer's

☆ AstraZeneca, AI biologics firm Absci tie up on cancer drug - FT
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +1 min

The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels as part of the coronavirus disease (COVID-19) vaccination campaign, Belgium, January 28, 2021. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsCompanies Absci Corp FollowAstraZeneca PLC FollowDec 3 (Reuters) - Anglo-Swedish drugmaker AstraZeneca (AZN.L) has signed a deal worth up to $247 million with U.S. artificial intelligence (AI) biologics firm Absci (ABSI.O) to design an antibody to fight cancer, the Financial Times reported on Sunday. The collaboration aims to harness Absci's AI technology for large-scale protein analysis to find a viable oncology therapy, a leading focus of AstraZeneca, the report said. Absci and AstraZeneca did not immediately respond to a Reuters requests for comment. Absci applies generative artificial intelligence to design optimal drug candidates based on target affinity, safety, manufacturability and other traits.

Persons: Johanna Geron, Sean McClain, Absci’s, Shivani Tanna, William Mallard Organizations: AstraZeneca, REUTERS, U.S, Financial Times, Thomson Locations: Brussels, Belgium, Swedish, Bengaluru

☆ US obesity docs expect Lilly weight-loss drug to show similar heart benefit as Wegovy
▼ + stars: | 2023-12-01 | by ( Patrick Wingrove | ) www.reuters.com time to read: +5 min

REUTERS/Mike Segar Acquire Licensing RightsDec 1 (Reuters) - Some leading U.S. obesity specialists say they expect Eli Lilly’s (LLY.N) powerful weight-loss drug Zepbound will produce the same or similar heart benefits as Novo Nordisk’s (NOVOb.CO) popular Wegovy as they belong to the same class of medicines. In Novo's pivotal Wegovy trial involving 17,604 overweight and obese people without diabetes, the drug reduced incidence of heart attack, stroke or heart-related death by an impressive 20%. The product, which has the same active ingredient - tirzepatide - as its previously approved diabetes drug Mounjaro, is expected to start shipping it before the end of the year. They said they would readily prescribe Wegovy (semaglutide) if their patients' insurance did not cover Lilly’s drug, or if future trial results do not produce similar heart benefits. Lilly declined to comment on doctors' views that Zepbound might have the same or similar cardiovascular benefits as Wegovy.

Persons: Eli Lilly, Mike Segar, Eli Lilly’s, Lilly, Danish drugmaker, Edmond Wickham, Emily, Zepbound, Tirzepatide, ”, Rohit Kedia, Novo, Chad Weldy, semaglutide, tirzepatide, Farxiga, Boehringer Ingelheim, Lilly’s Jardiance, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: Company, REUTERS, Novo, Wegovy, Virginia Commonwealth University . The, Virginia Commonwealth University . The U.S . Food, Drug Administration, Wall Street, Barclays, Providence, Stanford University, Thomson Locations: Branchburg , New Jersey, Danish, Virginia Commonwealth University . The U.S, Zepbound, U.S

☆ Why Pfizer's latest stumble in the obesity market is a boon for Eli Lilly
▼ + stars: | 2023-12-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

In June, the New York-based pharmaceutical giant stopped developing a different obesity pill, known as lotiglipron , due to concerns about liver safety. Meanwhile, Eli Lilly shares were mainly flat in afternoon trading, at around $591apiece. We lifted our Eli Lilly price target Friday to $630 per share, up from $600. Eli Lilly and Danish rival Novo Nordisk (NVO) are the two dominant players in the obesity market. The longer it takes for competitors to get to this burgeoning market, the more revenue first-movers Eli Lilly and Novo Nordisk can capture.

Persons: Eli Lilly, Jim Cramer, Lilly's, Novo's, Jim, Eli Lilly —, —, Eli, that's, — Novo's, Novo, semaglutide, Jim Cramer's, AJ Mast Organizations: Pfizer, Club, Novo Nordisk, Pharmaceutical, Amgen, AstraZeneca, Bank of America, U.S . National Library of Medicine, U.S . Food, Drug Administration, CNBC, Bloomberg, Getty Locations: New York, Danish, Lilly, U.S, Indianapolis , Indiana

☆ GSK CEO says RSV vaccine revenue to top 1 bln pounds in first year
▼ + stars: | 2023-11-30 | by ( Michele Gershberg | ) www.reuters.com time to read: +4 min

GSK had previously forecast 2023 sales for Arexvy between 900 million pounds and 1 billion pounds ($1.26 billion) following a strong U.S. launch. "We’re delighted with the start of our RSV vaccine," Walmsley said in a Reuters Newsmaker interview. The U.S. Food and Drug Administration (FDA) approved Arexvy for adults aged 60 years or older in May and GSK launched the vaccine in the U.S. later in the year. GSK made close to two-thirds of RSV doses given in the United States since early September, according to IQVIA data earlier this month. On Tuesday, rival Pfizer (PFE.N) said it was disappointed in the performance of its RSV shot Abrysvo compared with GSK.

Persons: Walmsley, GSK's, Emma Walmsley, We’re, David Denton, AstraZeneca's, commercialise Johnson, Ludwig Burger, Michael Erman, Josephine Mason, Kirsten Donovan, Elaine Hardcastle Organizations: GSK, Reuters, U.S . Food, Drug Administration, Pfizer, U.S, Thomson Locations: British, U.S, Europe, Japan, United States

Bernstein named Taiwan Semiconductor a "best idea" for 2024, raising its price target on the stock. — Alex Harring 7:01 a.m. In addition to the best-pick honor, analyst Steve Scala has an outperform rating and $86 price target. Analyst Michael Lavery downgraded the stock to neutral from overweight and slashed his price target by $40 to $200. ET: Morgan Stanley hikes PDD price target, calls stock a top pick following earnings Morgan Stanley named Chinese e-commerce name PDD Holdings a top pick following its latest quarterly earnings report.

Persons: Bernstein, Morgan Stanley, LSEG, Bank of America's Tal Liani, Morgan Stanley's Hamza Fodderwala, Alex Harring, Craig Siegenthaler, Blackstone, That's, — Alex Harring, Ken Hoexter, Hoexter, TD Cowen, Steve Scala, Scala, Jefferies, John Colantuoni, bode, Colantuoni, Neil Beveridge, Josh Silverstein, Silverstein, JMP, Baldwin, Mitch Germain, Germain doesn't, Germain, Piper Sandler, Michael Lavery, Lavery, elasticities, HSY's, Hershey, Eddy Wang, Wang, Mark Li, Li, — Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Holdings, Wall, Bank of America, Bank of America's, KKR, Apollo Global Management, Pacific, Transport, AstraZeneca, pharma, Airbnb, Toyota, UBS, Exxon Mobil, Natural Resources, Exxon Mobil's, Hershey, PDD, U.S, LSEG, Commerce, PDD's U.S, Apple, Huawei Locations: Tuesday's, Ivory Coast, Ghana, 4Q23, Taiwan, China

☆ Stocks making the biggest moves premarket: General Motors, Petco, Foot Locker and more
▼ + stars: | 2023-11-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Petco — Shares of the pet retailer plummeted 17% after reporting a third-quarter loss of 5 cents per share. Analysts had anticipated the company would earn 2 cents per share on revenue of $1.51 billion, according to a LSEG survey. CrowdStrike — Shares of the cybersecurity company gained 2.7% after it reported positive third-quarter earnings and raised its fourth-quarter forecast. The results topped estimates of 74 cents per share on revenue of $777 million expected by analysts, according to LSEG. The company, which was slated to report its third-quarter earnings after the bell on Wednesday, posted its results early.

Persons: TD Cowen, Steve, Hormel, LSEG, NetApp, CrowdStrike, Okta, Phillips, Elliott, CNBC's David Faber, —, Macheel, Jesse Pound Organizations: Toyota, AstraZeneca, pharma, LSEG, General Motors, GM, JMP Securities, Elliott Management Locations: Tuesday's, U.S

☆ Here are Wednesday's biggest analyst calls: Apple, Amazon, Tesla, Schwab, Pinterest, Exxon, Disney and more
▼ + stars: | 2023-11-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Piper Sandler downgrades Hershey to neutral from overweight Piper Sandler said it's concerned about rising cocoa costs for Hershey. UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone are almost nonexistent. Piper Sandler reiterates Charles Schwab as buy Piper Sandler said the company is a "likely beneficiary of fed rate cuts." Piper Sandler reiterates Pinterest as overweight Piper Sandler raised its price target on Pinterest to $40 per share from $37 and says trends are improving. UBS reiterates Exxon as buy UBS said it's bullish heading into Exxon's corporate plan event on Dec. 6.

Persons: Piper Sandler downgrades Hershey, Piper Sandler, it's, Guggenheim, Tesla, Truist, Canaccord, Raymond James, TD Cowen, AZN, Goldman Sachs, Leslie's, Carlyle, Wells, Wells Fargo, Apple, Jefferies, Airbnb, ABNB, Cantor Fitzgerald, Microvast, Charles Schwab, SCHW, Morgan Stanley, Bernstein, PDD, Marti, Pinterest, D.A, Davidson, Estée Lauder Organizations: Hershey, UBS, Apple, " Bank of America, underperform Bank of America, AstraZeneca, downgrades, Group, Goldman, GS, Bank of America, Union, JPMorgan, Disney, Taiwan Semiconductor, Intel, Commerce, Marti Technologies, DFS, Exxon Locations: China, Europe, Japan, America, CY24, Turkey, XOM's

[1/4] Employees work in the manufacturing of Pfizer’s new respiratory syncytial virus (RSV) vaccine Abrysvo, in this undated handout picture. Pfizer/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Nov 28 (Reuters) - Senior Biden administration officials met with RSV vaccine makers this week to underscore the need for manufacturers such as Sanofi (SASY.PA) and AstraZeneca (AZN.L) to urgently meet demand as winter approaches, the White House said on Tuesday. At a meeting at the White House on Monday, officials and manufacturers also agreed to plan now to meet next year's demand for the vaccines targeting respiratory syncytial virus, which generally causes mild, cold-like symptoms but can develop into severe illness in infants and older adults. "Monday's meeting follows numerous in-person and virtual meetings to seek ways manufacturers can make more RSV immunizations available for infants," the White House said in a statement. Reporting by Susan Heavey and Ahmed Aboulenein; Additional reporting by Mike Erman; Editing by Katharine Jackson and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Susan Heavey, Ahmed Aboulenein, Mike Erman, Katharine Jackson, Nick Zieminski Organizations: Pfizer, Handout, REUTERS Acquire, Rights, Biden, Sanofi, AstraZeneca, White, U.S . Centers for Disease Control, Prevention, CDC, Thomson Locations: U.S

In public, the company has announced its staggering growth with a steady cadence of news releases. But in classified American intelligence channels, there have been more concerning reports about the company. and other American spy agencies have issued warnings about G42’s work with large Chinese companies that U.S. officials consider security threats, including Huawei, the telecommunications giant that is under U.S. sanctions. U.S. officials fear G42 could be a conduit by which advanced American technology is siphoned to Chinese companies or the government. The intelligence reports have also warned that G42’s dealings with Chinese firms could be a pipeline to get the genetic data of millions of Americans and others into the hands of the Chinese government, according to two officials familiar with the reports.

Persons: Sheikh Tahnoon bin Zayed, Jake Sullivan Organizations: United Arab, White House, AstraZeneca, OpenAI, Huawei Locations: United Arab Emirates, China, Silicon, U.S

[1/2] British Prime Minister Rishi Sunak speaks during the opening session of the Global Food Security Summit at Lancaster House in London, Britain November 20, 2023. Years of political churn - with five prime ministers and a non-stop ministerial carousel since the 2016 Brexit vote - have shaken Britain's reputation for stability among investors. Some executives say the country, long a magnet for FDI, has simply taken them for granted. But companies and investors say that a focus by regulators on limiting costs for bill-payers in sectors such as water, telecoms and energy has crimped investment. British investment minister Dominic Johnson said the government would be in listening mode at the gathering on Nov. 27 to hear how it can remove hurdles.

Persons: Rishi Sunak, Dan Kitwood, Sunak, Emanuel Macron, Jack Paris, Paris, Jeremy Hunt, EY, Alina Osorio, Mikhail Taver, Richard Harrington, Harrington, Dominic Johnson, Johnson, Kate Holton, Sinead Cruise, Andy Bruce, Alexander Smith Organizations: British, Global Food Security, Lancaster House, Hampton Court, Partners, Reuters, European Union, United, Labour Party, India's Tata Group, Britain, AstraZeneca, Ireland, Thomson Locations: London, Britain, Hampton, France, Versailles, European, Germany, United States, Europe, Delaware

☆ CDC expedites release of more doses of infant RSV drug from Sanofi, AstraZeneca amid shortage
▼ + stars: | 2023-11-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The shortage – and other issues related to insurance coverage – threatens to prevent infants from receiving critical protection against RSV. Each year, the virus kills a few hundred children younger than 5, and 6,000 to 10,000 seniors, according to the CDC. RSV also causes around 58,000 to 80,000 hospitalizations among children younger than 5 years old each year, the CDC said. The U.S. started to see a sharp uptick in RSV cases in the middle of October. The U.S. suffered an unusually severe RSV season last year.

Persons: Sanofi, Nirav Shah Organizations: Disease Control, U.S, Sanofi, AstraZeneca, CDC, Vaccines, Children Program, Food and Drug Administration, FDA Locations: U.S

☆ CNBC Daily Open: Bond yields resurge on Powell’s speech
▼ + stars: | 2023-11-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the 24th Jacques Polak Annual Research Conference in Washington DC, United States on November 09, 2023. This 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. But SoftBank still recorded a quarterly loss of 931.1 billion yen — that's around $6.2 billion — on the collapse of WeWork. [PRO] Higher than neutralThe Federal Reserve projects the U.S.' neutral interest rate — the so-called rate at which rates neither encourage nor constrict the economy — to be 2.5%.

Persons: Jerome Powell, Jacques Polak, Hawkish Powell, Powell, there's, Tesla, SoftBank, Goldman Sachs Organizations: U.S . Federal Reserve, Washington DC, CNBC, Nasdaq, AstraZeneca, Azelis, HSBC Global, HSBC, Fund, Federal Reserve Locations: Washington, United States, U.S, Belgian, Tesla's, SoftBank

☆ AstraZeneca adds player to obesity drug race, but Eli Lilly remains in the lead
▼ + stars: | 2023-11-10 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Eli Lilly (LLY) remains our favorite way to play the weight-loss drug market, despite a new entry this week from AstraZeneca (AZN). Eli Lilly shares had their worst day of the year Thursday, falling 4.5% in the session to close at $591.32. AstraZeneca's encroachment on turf currently dominated by Eli Lilly and Danish rival Novo Nordisk (NVO) may have contributed to Thursday's declines. That approval, despite being widely expected, pushed Eli Lilly to an all-time closing high Wednesday, at $619.13 per share. Our desire to own Eli Lilly over Novo Nordisk hinges, in part, on our confidence in Eli Lilly's other treatment opportunities, such as in Alzheimer's.

Persons: Eli Lilly, Jim Cramer, Jim, Lilly's, Eli Lilly's tirzepatide, Zepbound, Novo's, Eli Lilly's, Eli Lilly's GLP, Dave Ricks, Lilly, Ricks, AstraZeneca's, ECC5004, retatrutide, Jim Cramer's, David Ricks, Eli Lilly Scott Mlyn Organizations: AstraZeneca, Novo Nordisk, American Heart Association, Novo Nordisk's semaglutide, CNBC, Reuters, Citigroup Locations: Danish, GLP, North Carolina, Novo, Denmark, Zepbound, Alzheimer's

☆ Lilly trades at a premium to Ozempic-maker Novo as obesity drugs boom. Here's why, analyst says
▼ + stars: | 2023-11-10 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Does Eli Lilly deserve to trade at a premium to Novo Nordisk shares? LLY YTD mountain Eli Lilly shares since the start of the year. According to Shin, Lilly deserves a premium to Novo Nordisk because its portfolio is more diverse and it has less exposure to insulin. NVO YTD mountain Novo Nordisk shares year to date In the coming weeks, Lilly will start rolling out Zepbound to patients. Novo Nordisk is scheduled to release the full results of its Select cardiovascular trial at the American Heart Association conference.

Persons: Eli Lilly, James Shin, Shin, Lilly, We're, Lilly's, Zepbound, Wegovy, Chris Schott, Karsten Munk Knudsen, Novo, Schott, AstraZeneca, Eccogene, David Ricks, — CNBC's Michael Bloom Organizations: Novo Nordisk, Deutsche Bank, Biotech, Pharma, Centers for Disease Control, Novo, CNBC, American Heart Association Locations: U.S, GLP, Novo, Denmarkt

☆ China health sector sees better sentiment from anti-graft drive - execs
▼ + stars: | 2023-11-09 | by ( Andrew Silver | ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 9 (Reuters) - Business activities in China's healthcare sector are returning from a sudden near freeze that began in July when Beijing kicked off a year-long anti-corruption campaign, two foreign industry executives said. The campaign targets the bribing of doctors in drug and medical equipment sales and marks a sharp escalation of an anti-corruption drive in the sector that started years ago. The latest campaign has sent a chill through the sector, pummeling healthcare stocks and prompting some firms to cancel IPOs. The anti-graft drive initially caused huge business disruptions and many multinational pharmaceutical firms lost engagement with hospitals, executives said. China is one of the biggest healthcare markets for global healthcare companies but their business sentiment has turned fragile this year due to factors including the anti-graft drive.

Persons: We’ve, Larry Merizalde, Merizalde, Andrew Silver, Miyoung Kim, Robert Birsel Organizations: Beijing, Reuters, South, AstraZeneca, National Health Commission, Thomson Locations: SHANGHAI, China, Shanghai

It also expects total revenue to increase by a mid single-digit percentage, compared with low-to-mid single-digit growth previously. For the third consecutive quarter, strong sales of AstraZeneca's blockbuster cancer treatments and healthy demand for its drugs in emerging markets offset the loss of sales of its COVID-19 vaccine and therapy. The results add to a string of strong quarters for Britain's biggest company by market capitalisation - worth 159 billion pounds ($195 billion) - bolstered by a strong pipeline of drugs. It said that in the first nine months of 2023, nine medicines delivered more than $1 billion in revenue. Excluding sales of its COVID-19 products, third-quarter sales rose 12% to $2.96 billion in emerging markets on a constant currency basis.

Persons: Phil Noble, China's, Maggie Fick, Eva Mathews, Nivedita Bhattacharjee, Mark Potter Organizations: AstraZeneca, REUTERS, Britain's, Thomson Locations: Macclesfield, England, China, London, Swedish, Bengaluru

☆ Morning Bid: Range-bound markets awaits Powell - again
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Federal Reserve Board Chair Jerome Powell answers a question during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 1, 2023. At a separate event on Wednesday, European Central Bank chief economist Philip Lane said his bank needs to see further progress in dampening inflationary pressure, and companies along with governments need to chip in to prevent more policy tightening. "A decrease in the policy rate is not something that is likely to happen in the short term," he said. The approval paves the way for a powerful rival to blockbuster drug Wegovy in addressing record obesity rates. Ping An subsequently said in a statement to Reuters it had "not been asked by (the) Government to take over Country Garden".

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Philip Lane, Patrick Harker, Huw Pill, Eli Lilly's, Ping, Merck KGaA, BOE, Christopher Cushing Organizations: Federal, Committee, REUTERS, Ankur, U.S, European Central Bank, . Federal Reserve Bank of Philadelphia, Bank of England, Investors, Novo Nordisk, Reuters, Ping An Insurance, Government, HK, AstraZeneca, Merck, Deutsche Telekom Speakers, Thomson Locations: Washington , U.S, Asia, Guangdong, Ping, Singapore

☆ There's a new entry into the weight loss drug boom. Here's the outlook for the stock
▼ + stars: | 2023-11-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AstraZeneca is the latest player to enter the weight loss drug arena, a market which some analysts have forecasted could reach $100 billion by 2030 . The GLP-1 drug market is currently dominated by two players: Novo Nordisk , which sells Type 2 diabetes treatment Ozempic and weight loss medication Wegovy, and Eli Lilly , which sells Mounjaro as a treatment for Type 2 diabetes. Lilly just had the weight loss version of its drug, Zepbound , approved by the Food and Drug Administration. It's still early days for AstraZeneca's ECC5004 drug, which is being assessed in a U.S.-based phase 1 trial involving patients with Type 2 diabetes. He currently rates AstraZeneca stock as overweight.

Persons: Eccogene, Wegovy, Eli Lilly, Lilly, It's, Colin White, James Gordon, Morgan Stanley, Mark Purcell, AstraZeneca's Farxiga, Purcell, Michael Bloom, Christina Cheddar, Berk Organizations: AstraZeneca, Novo Nordisk, Food and Drug Administration, Centers for Disease Control, UBS, Wall Street, JPMorgan Locations: U.S

Many of the patents at issue in the Food and Drug Administration's Orange Book listing of approved products were for devices such as asthma inhalers and epinephrine autoinjectors, the FTC said. "Wrongfully listed Orange Book patents by pharma companies can raise drug prices for Americans, harm fair competition, and delay better drugs," FTC Chair Lina Khan said on X, formerly known as Twitter. The Orange Book identifies drugs and products that the FDA has deemed safe and effective. The FTC says companies sometimes improperly list patents in the Orange Book that can delay market entry of lower priced generics. AbbVie was informed the FTC would dispute four patents in the Orange Book having to do with Restasis Multidose, eye drops used for chronic dry eye.

Persons: Andrew Kelly, Lina Khan, Boehringer Ingelheim, Mylan, AbbVie, Restasis, Diane Bartz, Patrick Wingrove, Bill Berkrot Organizations: Food and Drug Administration, FDA, REUTERS, AstraZeneca, GSK, U.S . Federal Trade Commission, Food, FTC, pharma, Thomson Locations: White Oak , Maryland, U.S, WASHINGTON, Israel, Viatris

☆ Stocks week ahead: Here’s how America’s economy could begin to weaken
▼ + stars: | 2023-11-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The job market or spending? The spending argument: But there have been instances in which spending weakened before the job market. “I think it starts with the perception of the labor market,” Drew Matus, chief market strategist at MetLife Investment Management, told CNN. The ticket-industry giant said it has sold a record 140 million tickets so far this year, up 17% year-over-year and has already surpassed the 121 million tickets sold in all of 2022. In the third quarter, Ticketmaster sales surged 57% to $833 million and 90 million fee-bearing tickets were sold in the period.

Persons: can’t, ” Shannon Seery, “ It’s, ” Seery, Luke Tilley, ” Tilley, Jerome Powell, ” Drew Matus, ”, Taylor Swift, Parija Kavilanz, Swifties, Taylor, Michael Rapino, Beyoncé, Harry Styles, Bunny, Jonas Brothers, Bruce Springsteen, Lisa Cook, Michael Barr, Jeffrey Schmid, Christopher Waller, John Williams, Lorie Logan, Ralph Lauren, Steve Madden, Phillip Jefferson, Raphael Bostic, Tom Barkin, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, CNN, Employers, Investment Advisors, Companies, National Bureau of Economic Research, CNN Wednesday, Federal, MetLife Investment Management, Ticketmaster, Ryanair, Goodyear, Fed, Reserve Bank of Australia, Uber, Occidental Petroleum, KKR, The Carlyle Group, US Commerce Department, Biogen, Warner Bros, Teva Pharma, The New York Times Company, Armour, SeaWorld, MGM Resorts, China’s National Bureau of Statistics, Sony Group, Astrazeneca, Tapestry, News Corp, US Labor Department, Soho House, National Statistics, European Central Bank, University of Michigan Locations: Washington, Wells, Wilmington, Lyft, Brookfield, Soho

☆ AstraZeneca to invest $245 mln in Cellectis to boost gene therapy prospects
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. Cellectis' gene-editing technology and manufacturing capabilities to design novel cell and gene therapy products will help strengthen AstraZeneca's growing offering in the space, it said. AstraZeneca said that as part of the deal, it will pay Cellectis $105 million by the end of this year. That includes an $80 million equity investment, which will be followed by another $140 million in early 2024, which will give AstraZeneca a stake of about 44% in the French company. The Anglo-Swedish pharma company said it had exclusive rights to 25 genetic targets, of which up to 10 candidate products could be explored for development.

Persons: Rachel Wisniewski, Aby Jose Koilparambil, Savio D'Souza Organizations: AstraZeneca, REUTERS, Swedish pharma, Thomson Locations: North America, Wilmington , Delaware, U.S, Swedish, Bengaluru

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