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 Delhi.
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Denne historien er fra December 23, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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A fresh take on gifting
FERNS & PETALS MUST OFFER A BIGGER BOUQUET
SpaDeX: Isro brings satellites within 3-metre in trial attempt
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Bumrah set to miss league stage of Champions Trophy
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Devajit, Prabhtej elected BCCI secretary, treasurer
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Anthem row intensifies in Tamil Nadu as Governor slams CM
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We see early signs of revival, but challenges remain, says TCS CFO
It's still early days to quantify returns on AI initiatives.
IIT-K Steps In For Cyber Security At Maha Kumbh
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Jaishankar will be representing India at Trump's inaugural
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40% govt tenders can't comply with 'Make in India' rules
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'We've gone all in on AI, putting it into our devices'
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