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.
Denne historien er fra December 23, 2024-utgaven av Financial Express Chandigarh.
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Denne historien er fra December 23, 2024-utgaven av Financial Express Chandigarh.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Musk, Altman spar over $100-bn AI venture hyped by Prez Trump
ELON MUSK OPENLY questioned whether companies that joined President Donald Trump's announcement promising hundreds of billions of dollars in artificial intelligence infrastructure could follow through on their promises, exposing an early internal rift within the White House.
OpenAI to Indian court: Can't delete ChatGPT training data
'BREACH OF US LEGAL OBLIGATIONS'
After NSA, foreign secretary to visit China on January 26-27
MOVING TO RESUME bilateral engagements after the disengagement at the India-China border, foreign secretary Vikram Misri will travel to Beijing on January 26-27 for a meeting of the \"foreign secretary-vice minister mechanism between India and China\".
Ujjivan SFB Q3 profit slumps 64% to ₹109 cr
UJJIVAN SMALL FINANCE Bank on Thursday reported a 64% decline in its net profit to ₹109 crore for the third quarter amid a spike in bad loan provisions and higher interest expenses.
Rising competition from global banks may lower pricing on loans: Barclays
A RENEWED PUSH by Japan's major banks and other global lenders in India is driving down loan prices with the new players having more appetite for riskier credit, according to the country head for Barclays Plc.
Maruti Suzuki cars to cost more from Feb 1
MARUTI SUZUKI INDIA on Thursday said it will hike prices by up to ₹32,500 across various models from February 1 to partially offset the rise in input costs.
West Asia and North Africa Top Market for Engineering Exports
WEST ASIA AND North Africa (WANA) emerged as the biggest buyer of engineering products from India for the first time ever in December, pushing North America to the second slot, the commerce ministry data showed.
$100-bn court challenge for Goldman and friends
BANKS ARE USED to fending off litigation.
Real Madrid Is First Club To Top $1-Bn Revenue
REAL MADRID BECAME the first soccer team to register one billion euros ($1.04 billion) in revenue in a single season in 2023-24, with the Spanish side topping the Deloitte Football Money League as the world's highest revenue-generating club once again.
Gaza ceasefire puts Netanyahu in tough spot
EVEN BEFORE IT WAS signed, the Gaza ceasefire forced Israeli Prime Minister Benjamin Netanyahu into a tight spot - between a new US president promising peace and far-right allies who want war to resume.
