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Novo Nordisk has confirmed that all doses of its GLP-1 medications, Ozempic and Wegovy, are now available in the U.S., ending a shortage that began in March 2022. Despite this, patients may still face challenges filling prescriptions due to variability at pharmacies. The company has invested significantly in manufacturing capacity to meet the high demand driven by the drugs' effectiveness in weight loss and reducing health risks.
UBS Group AG reported a strong third quarter in 2024, achieving net income of $1.4 billion and an underlying pretax profit of $2.4 billion, with assets under management rising 15% to $6.2 trillion. The company maintains a solid CET1 capital ratio of 14.3% and is focused on long-term growth despite global economic challenges. UBS has also completed client account migrations in key markets and continues to invest in technology to enhance operational efficiency.
UBS Group AG reported a strong Q3 2024, with net income of $1.4 billion and underlying EBIT of $2.4 billion, while assets under management rose 15% to $6.2 trillion. The company maintains a solid CET1 capital ratio of 14.3% and aims to exceed pre-acquisition returns by 2026, despite facing challenges from lower Swiss franc interest rates and integration costs post-Credit Suisse acquisition.
Tenet Healthcare reported strong Q3 2024 results, with net operating revenues of $5.1 billion and adjusted EBITDA of $978 million, reflecting 15% year-over-year growth. The company raised its full-year adjusted EBITDA forecast to between $3.9 billion and $4 billion, despite lower revenue expectations due to hospital divestitures. Tenet remains focused on strategic investments and operational efficiencies, anticipating robust demand in 2025, particularly in its Hospital segment.
All doses of Novo Nordisk's weight loss drug Wegovy and diabetes treatment Ozempic are now available in the U.S., following efforts to address previous shortages. The FDA's update indicates a potential removal of these drugs from its shortage list, as Novo Nordisk continues to expand manufacturing capacity. However, patients may still face challenges in filling prescriptions at specific pharmacies.
Bitcoin has paused its ascent after nearing its all-time high. In the latest episode of CNBC Crypto World, Muneeb Ali, CEO of Trust Machines, shares insights on how the 2024 election results could influence cryptocurrency prices in 2025.
Chancellor of the Exchequer Rachel Reeves announced a £142 billion spending plan over five years, aimed at boosting public services and increasing the minimum wage. Economists warn that this could prolong the Bank of England's struggle against inflation by impacting labor supply and borrowing levels.
Elon Musk and hedge fund manager John Paulson advocate for significant U.S. budget cuts, proposing a $2 trillion reduction if Trump is re-elected. However, historical precedents of "shock therapy" in other nations show that such drastic measures often lead to economic turmoil and social unrest. A more measured approach, like the Simpson-Bowles plan, could provide thoughtful solutions to address the nation's budget deficits and entitlement program funding.
Eli Lilly's weight loss drug Zepbound and diabetes treatment Mounjaro experienced weaker-than-expected sales in the third quarter, attributed to wholesalers reducing inventory rather than a decline in demand. Mounjaro's sales reached $3.11 billion, falling short of the $3.7 billion forecast, while Zepbound generated $1.26 billion, missing the $1.76 billion expectation. Despite strong underlying demand, Eli Lilly plans to initiate promotional activities for Zepbound in November to boost sales.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) reported a 4% increase in net sales to $1.824 billion for Q3 2024, with adjusted EPS rising to $1.74, despite ERP implementation challenges. The company anticipates full-year revenue growth of 4.25% to 4.75% and plans over 50 product launches, including the Z1 hip system and Persona IQ knee technology. Management remains optimistic about overcoming current hurdles and maintaining profitability, supported by a $600 million share repurchase in Q3.
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Novo Nordisk resolves Ozempic and Wegovy shortages with increased supply
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