Ozempic maker Novo Nordisk's plunge echoes Nokia risk
Financial Express Mumbai|December 23, 2024
THE METEORIC RISE of Denmark's Novo Nordisk A/S from century-old insulin producer to Europe's most valuable company has been a feel-good story of innovation in a region where those are rare.
Bloomberg

Its diabetes and obesity drugs Ozempic and Wegovy have become a global phenomenon: They opened up a market potentially worth $100 billion and transformed the Danish economy (and Hollywood too). It's reminiscent of Finland's boom in the heyday of cellphone pioneer Nokia Oyj - until Apple's iPhone spoiled the party.

A Nokia-esque turn for the worse is now potentially unfolding, however. Novo's shares plummeted by 21% on Friday to their lowest level since August 2023, after the study results of next-generation experimental obesity shot CagriSema fell short of the 25% weight loss that had been predicted. The actual result of 20.4% to 22.7% weight loss over 68 weeks is obviously neither failure nor disruption, as my colleague Lisa Jarvis notes, and is in line with the performance of rival Eli Lilly & Co.'s existing Zepbound shot. But it does speak to the eroding competitive advantage of a European first mover in the face of a ferocious US rival: Lilly's shares rose and it's now viewed as the preeminent market player that could become the first trillion-dollar drug company.

هذه القصة مأخوذة من طبعة December 23, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 23, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FINANCIAL EXPRESS MUMBAI مشاهدة الكل
Financial Express Mumbai

Shyam Benegal cremated with full state honours

VETERAN FILMMAKER SHYAM Benegal, the pioneer of the parallel cinema movement in Indian cinema in the 1970s and 1980s, was cremated on Tuesday with full state honours and a three-gun salute.

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1 min  |
December 25, 2024
Financial Express Mumbai

Champions Trophy: India to play Pakistan on Feb 23

INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.

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1 min  |
December 25, 2024
Net gains: Secured Virat, cautious Rohit gear up
Financial Express Mumbai

Net gains: Secured Virat, cautious Rohit gear up

INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.

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1 min  |
December 25, 2024
A middle-class meltdown
Financial Express Mumbai

A middle-class meltdown

Economic shift, stagnating real income post Covid weigh on spending on daily items

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3 mins  |
December 25, 2024
EAM in US to boost bilateral ties
Financial Express Mumbai

EAM in US to boost bilateral ties

IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.

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1 min  |
December 25, 2024
Uniting for greater good
Financial Express Mumbai

Uniting for greater good

COLLABORATIVE PHILANTHROPY is not a new idea.

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4 mins  |
December 25, 2024
IOC to invest ₹61K cr for Odisha project
Financial Express Mumbai

IOC to invest ₹61K cr for Odisha project

NAPHTHA CRACKER PROJECT IN PARADIP

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1 min  |
December 25, 2024
18% GST on used EV to be paid on seller's margin
Financial Express Mumbai

18% GST on used EV to be paid on seller's margin

A REGISTERED PERSON will have to pay an 18% Goods and Services Tax (GST) on sale of old and used vehicle only if the seller has earned a margin, which is if the selling price is higher than the depreciation adjusted cost price of the vehicle, official sources said.

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1 min  |
December 25, 2024
Changing the lens can make a big difference
Financial Express Mumbai

Changing the lens can make a big difference

Why the campaign rocks: It's great to witness the growing number of gender-forward campaigns, each challenging outdated norm and fostering more inclusive, progressive narratives.

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1 min  |
December 25, 2024
Road to relevance
Financial Express Mumbai

Road to relevance

How to craft a brand strategy that stands the test of time

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1 min  |
December 25, 2024