How Ozempic's maker lost the weight loss fight
But competition started to catch up, a new drug trial disappointed, shares and growth fell and its chief executive departed in May. Then this week a major profit warning knocked more than €60 billion ($106 billion) off its value. The company also announced that senior executive Maziar Mike Doustdar would become the new CEO.
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News.com.au
a day ago
- News.com.au
ASX Health July Winners: Sector finally catches a bid to rebound 9pc for month
The S&P ASX 200 Health Care index rose 9.05% in July with rotation into the sector gaining momentum Lumos soared 170% in July after six-year exclusive deal valued at up to US$317 million with PHASE Scientific for distribution of FebriDX in US subject to CLIA waiver Clever Culture Systems rose 81.3% in July on news global pharmaceutical giant Novo Nordisk purchased one of its flagship APAS Independence instruments for evaluation The healthcare sector rose 9.05% in July to be the best of the 11 ASX sectors. A turn up for the books to be sure. While remaining the worst performing sector YTD – up just 1.81% – the S&P ASX Health Care index was in recovery mode in July. The sector was buoyed by a roughly 13% rise in its biggest name blood products giant CSL (ASX:CSL), which drives much of the index. Morgans' healthcare analyst Iain Wilkie said there appeared to be a strong sector rotation on the ASX in July. "During July there certainly was a rotation out of usual strong sectors like financials and more into healthcare and the miners," he told Stockhead. "Healthcare has been beaten down for quite a long while now and is starting to look attractive. "I don't think there was anything specific in terms of a catalyst to drive the rotation." Looking ahead, Wilkie noted the sector may face continued pressure with US President Donald Trump again threatening tariffs " at a very, very, high rate, like 200%" on imported pharmaceuticals. "Trump has again thrown his weight around but until it actually hits we'll see," Wilkie said. He said US tariffs shouldn't affect companies like CSL, which is one of the world's largest manufacturers of plasma products. "Although the US collects over 60% of the world's plasma, it lacks sufficient domestic capacity to process it into finished therapies," he said. "As a result, imported plasma products are critical to meeting national demand. "Introducing tariffs on these products would likely be counterproductive as they wouldn't foster viable domestic alternatives and could drive up costs, potentially limiting patient access and causing harm." How ASX biotechs performed in July CODE COMPANY PRICE 1 MONTH RETURN % MARKET CAP PAB Patrys Limited $ 0.002 181.8% 6.9 LDX Lumos Diagnostics $ 0.073 170.4% 55.4 NSB Neuroscientific $ 0.235 170.1% 79.8 NXS Next Science Limited $ 0.140 109.0% 41.7 NOX Noxopharm Limited $ 0.110 103.7% 30.7 CMB Cambium Bio Limited $ 0.425 102.4% 8.2 DVL Dorsavi Ltd $ 0.028 86.7% 27.3 ICR Intelicare Holdings $ 0.013 85.7% 6.3 CC5 Clever Culture $ 0.029 81.3% 56.9 EMD Emyria Limited $ 0.049 75.0% 28.1 CU6 Clarity Pharma $ 4.370 74.8% 1,471.5 HMD Heramed Limited $ 0.012 71.4% 10.5 MX1 Micro-X Limited $ 0.083 69.4% 54.0 TTX Tetratherix Limited $ 5.020 66.2% 131.7 CAN Cann Group Ltd $ 0.016 60.0% 9.8 NYR Nyrada Inc. $ 0.370 54.2% 77.8 VBS Vectus Biosystems $ 0.06 50.0% 3.2 CSX Cleanspace Holdings $ 0.760 46.2% 59.5 MSB Mesoblast Limited $ 2.380 43.8% 3,046.3 AVE Avecho Biotech Ltd $ 0.005 42.9% 15.9 HIQ Hitiq Limited $ 0.020 42.9% 9.9 AYA Artryalimited $ 1.025 42.4% 116.7 ANR Anatara Ls Ltd $ 0.007 40.0% 1.5 ATH Alterity Therap Ltd $ 0.014 40.0% 128.9 CBL Control Bionics $ 0.040 37.9% 12.1 EYE Nova EYE Medical Ltd $ 0.150 36.4% 41.2 IBX Imagion Biosys Ltd $ 0.015 36.4% 3.0 IPD Impedimed Limited $ 0.047 34.3% 93.4 RCE Recce Pharmaceutical $ 0.388 33.6% 108.4 NTI Neurotech Intl $ 0.020 33.3% 21.0 VFX Visionflex Group Ltd $ 0.00 33.3% 6.7 AT1 Atomo Diagnostics $ 0.018 28.6% 14.2 AHC Austco Healthcare $ 0.370 27.6% 137.0 TRP Tissue Repair $ 0.240 26.3% 14.5 SOM SomnoMed Limited $ 0.815 25.4% 171.8 1AD Adalta Limited $ 0.003 25.0% 2.8 ADR Adherium Ltd $ 0.005 25.0% 9.0 BIT Biotron Limited $ 0.003 25.0% 3.3 CUV Clinuvel Pharmaceut. $ 12.970 25.0% 617.5 FRE Firebrickpharma $ 0.077 24.2% 17.5 CMP Compumedics Limited $ 0.315 23.5% 66.3 NEU Neuren Pharmaceut. $ 17.290 22.5% 2,150.6 ILA Island Pharma $ 0.170 21.4% 40.8 ATX Amplia Therapeutics $ 0.240 20.0% 111.9 DOC Doctor Care Anywhere $ 0.125 19.0% 47.7 EBR EBR Systems $ 1.410 18.0% 514.6 LTP Ltr Pharma Limited $ 0.340 17.2% 60.6 PAR Paradigm Bio. $ 0.355 16.4% 136.1 LGP Little Green Pharma $ 0.115 16.2% 35.1 M7T Mach7 Tech Limited $ 0.380 15.2% 89.3 ALC Alcidion Group Ltd $ 0.115 15.0% 154.4 NC6 Nanollose Limited $ 0.077 14.9% 24.1 CYC Cyclopharm Limited $ 1.040 14.3% 113.4 SPL Starpharma Holdings $ 0.100 13.6% 43.9 MVF Monash IVF Group Ltd $ 0.800 13.5% 309.8 SNT Syntara Limited $ 0.060 13.2% 97.6 CSL CSL Limited $ 270.900 13.1% 128,514.7 PME Pro Medicus Limited $ 321.890 12.9% 33,058.3 CVB Curvebeam Ai Limited $ 0.080 12.7% 33.2 IMM Immutep Ltd $ 0.270 12.5% 385.3 MVP Medical Developments $ 0.610 11.9% 64.8 TRJ Trajan Group Holding $ 0.800 11.9% 121.9 GLH Global Health Ltd $ 0.076 11.8% 4.5 VIT Vitura Health Ltd $ 0.07 11.3% 47.0 PIQ Proteomics Int Lab $ 0.360 10.8% 57.3 IRX Inhalerx Limited $ 0.042 10.5% 9.0 IDT IDT Australia Ltd $ 0.098 10.1% 40.7 NUZ Neurizon Therapeutic $ 0.170 9.7% 81.2 PGC Paragon Care Limited $ 0.400 9.6% 653.8 RHY Rhythm Biosciences $ 0.059 9.3% 17.4 1AI Algorae Pharma $ 0.006 9.1% 10.1 CTQ Careteq Limited $ 0.012 9.1% 2.8 AHX Apiam Animal Health $ 0.565 8.7% 103.0 ARX Aroa Biosurgery $ 0.630 8.6% 224.3 OCC Orthocell Limited $ 1.275 8.5% 309.7 MAP Microbalifesciences $ 0.092 8.2% 47.4 PSQ Pacific Smiles Grp $ 1.670 8.1% 269.9 PNV Polynovo Limited $ 1.290 7.9% 858.4 RMD ResMed Inc. $ 42.450 7.9% 61,930.3 PTX Prescient Ltd $ 0.047 6.8% 38.7 REG Regis Healthcare Ltd $ 8.370 6.8% 2,545.6 TYP Tryptamine Ltd $ 0.03 6.7% 44.6 SDI SDI Limited $ 0.883 6.3% 104.6 COH Cochlear Limited $ 318.520 6.0% 20,541.2 RHC Ramsay Health Care $ 38.770 5.7% 8,808.5 IDX Integral Diagnostics $ 2.670 5.1% 1,001.8 IMC Immuron Limited $ 0.064 4.9% 16.9 OCA Oceania Healthc Ltd $ 0.660 4.8% 461.5 EBO Ebos Group Ltd $ 37.250 4.7% 7,552.6 RAD Radiopharm $ 0.023 4.5% 54.4 ACW Actinogen Medical $ 0.024 4.3% 76.3 IIQ Inoviq Ltd $ 0.385 4.1% 43.5 AGH Althea Group $ 0.026 4.0% 21.4 IME Imexhs Limited $ 0.300 3.4% 15.8 CYP Cynata Therapeutics $ 0.155 3.3% 37.3 SHL Sonic Healthcare $ 27.610 3.1% 13,532.2 FPH Fisher & Paykel H. $ 34.090 1.4% 19,481.0 CTE Cryosite Limited $ 0.750 0.7% 36.6 VLS Vita Life Sciences.. $ 2.26 0.4% 124.4 ACR Acrux Limited $ 0.016 0.0% 7.0 BP8 Bph Global Ltd $ 0.002 0.0% 2.1 EMV Emvision Medical $ 1.740 0.0% 150.1 EOF Ecofibre Limited $ 0.020 0.0% 7.6 EPN Epsilon Healthcare $ 0.024 0.0% 7.2 NAN Nanosonics Limited $ 4.050 0.0% 1,196.3 OSX Osteopore Limited $ 0.011 0.0% 2.6 TD1 Tali Digital Limited $ 0.001 0.0% 4.2 TRI Trivarx Ltd $ 0.008 0.0% 5.0 TRU Truscreen $ 0.016 0.0% 12.3 ACL Au Clinical Labs $ 2.760 -0.7% 536.1 CGS Cogstate Ltd $ 1.730 -0.9% 292.9 MYX Mayne Pharma Ltd $ 4.950 -1.0% 405.4 ANN Ansell Limited $ 29.950 -1.1% 4,410.5 AFP Aft Pharmaceuticals $ 2.400 -1.2% 259.6 RGT Argent Biopharma Ltd $ 0.080 -1.2% 4.7 RAC Race Oncology Ltd $ 1.160 -1.3% 198.9 SNZ Summerset Grp Hldgs $ 10.300 -1.3% 2,513.8 HLS Healius $ 0.770 -1.9% 548.2 ALA Arovella Therapeutic $ 0.098 -2.0% 117.7 BMT Beamtree Holdings $ 0.245 -2.0% 72.6 ONE Oneview Healthcare $ 0.245 -2.0% 185.7 4DX 4Dmedical Limited $ 0.235 -2.1% 136.2 COV Cleo Diagnostics $ 0.380 -2.6% 48.8 RHT Resonance Health $ 0.038 -2.6% 17.5 AVH Avita Medical $ 1.670 -2.6% 217.6 SIG Sigma Health Ltd $ 2.890 -3.3% 32,726.4 PYC PYC Therapeutics $ 1.240 -4.2% 729.1 IXC Invex Ther $ 0.085 -4.5% 6.9 OIL Optiscan Imaging $ 0.105 -4.5% 87.7 ZLD Zelira Therapeutics $ 0.41 -6.8% 4.9 MDR Medadvisor Limited $ 0.075 -7.4% 43.8 BDX Bcaldiagnostics $ 0.058 -7.9% 20.5 GSS Genetic Signatures $ 0.330 -9.6% 76.1 CDX Cardiex Limited $ 0.036 -10.0% 18.7 PER Percheron $ 0.009 -10.0% 10.9 AGN Argenica $ 0.680 -10.5% 86.1 OSL Oncosil Medical $ 1.070 -10.8% 20.2 ECS ECS Botanics Holding $ 0.008 -11.1% 11.0 PEB Pacific Edge $ 0.085 -11.5% 75.9 IVX Invion Ltd $ 0.096 -12.7% 8.2 EZZ EZZ Life Science $ 2.030 -13.2% 99.1 TLX Telix Pharmaceutical $ 21.050 -13.8% 6,991.3 AVR Anteris Technologies $ 5.130 -16.4% 179.8 DXB Dimerix Ltd $ 0.470 -18.3% 285.1 SHG Singular Health $ 0.300 -18.9% 93.5 IMR Imricor Med Sys $ 1.225 -19.4% 324.2 MEM Memphasys Ltd $ 0.004 -20.0% 7.9 PCK Painchek Ltd $ 0.035 -22.2% 66.3 CHM Chimeric Therapeutic $ 0.003 -25.0% 11.4 VHL Vitasora Health Ltd $ 0.03 -28.2% 46.4 UCM Uscom Limited $ 0.01 -31.3% 2.9 UBI Universal Biosensors $ 0.02 -31.4% 7.2 IMU Imugene Limited $ 0.270 -38.9% 77.2 BOT Botanix Pharma Ltd $ 0.150 -53.1% 289.3 Patrys (ASX:PAB) rose ~182% in July after announcing a solid June quarter including a board restructure, $300,000 capital raise and actively pursuing partnering and licensing opportunities for both of its oncological cell therapy deoxymab assets. In July Patrys also announced a fully underwritten, pro-rata non-renounceable entitlement offer of three fully paid ordinary shares for every four shares held at an issue price of $0.001 per Share, together with on free-attaching new share for every four shares applied for and issued, to raise up to ~$1.78m. Lumos Diagnostics (ASX:LDX) rose more than 170% in July after l anding a landmark six-year distributor deal worth hundreds of millions of dollars to sell its rapid point-of-care diagnostic FebriDx in the US market. The FebriDx product is a simple test able to differentiate between bacterial and non-bacterial acute respiratory infections. The lucrative US licensing deal with Hong-Kong based PHASE Scientific could see Lumos net up to to US$317m (~A$487m), and has been described as one of the largest distribution deals of its type to be done by an ASX-listed point-of-care diagnostics company. Adelaide-based Clever Culture Systems (ASX:CC5), rose 81.3% in July after announcing global pharmaceutical giant Novo Nordisk had purchased one of its flagship APAS Independence instruments for evaluation. The machine will be delivered to Novo's central team in Denmark, where it will undergo a full-scale evaluation to assess its suitability for deployment across Novo's global manufacturing network. The APAS Independence uses AI technology to automate one of the most time-consuming parts of microbiology, analysing agar plates for contamination. Radiopharmaceutical group Clarity Pharmaceuticals (ASX:CU6) was up 74.8% in July after completing a large $203m institutional placement at a 15% premium to the company's 15-day average price, to fund their clinical program. Executive chairman Dr Alan Taylor told Stockhead the 'fast, well executed and sizeable' placement was to a small group of local institutional investors "close to the company". 'I have never done a deal that fast,' Taylor said. 'A week ago, I would have said we were not doing a capital raising, but there was a lot of interest from a very concentrated group .' At Stockhead, we tell it like it is. While Lumos Diagnostics and Clever Culture Systems are Stockhead advertisers, the companies did not sponsor this article. The views, information, or opinions expressed in the interview in this article are solely those of the interviewee and do not represent the views of Stockhead.
AU Financial Review
5 days ago
- AU Financial Review
How Ozempic's maker lost the weight loss fight
Until a year ago, Danish drugmaker Novo Nordisk was riding high. It had been first to market with an injectable diabetes treatment and the name Ozempic quickly became shorthand for new class of blockbuster weight loss drugs. But competition started to catch up, a new drug trial disappointed, shares and growth fell and its chief executive departed in May. Then this week a major profit warning knocked more than €60 billion ($106 billion) off its value. The company also announced that senior executive Maziar Mike Doustdar would become the new CEO.
Mercury
5 days ago
- Mercury
Doubling up: How ASX biotechs are multiplying their impact
ASX companies finding smarter ways to stretch value of existing assets and launch into broader clinical areas LTR Pharma leveraging proven intranasal platform for erectile dysfunction treatment to target non-invasive relief for patients with swallowing difficulties From concussion to Alzheimer's the CogState Cognigram digital cognitive assessment system is used by physicians to monitor brain function As global biotech faces increasing pressure to deliver more with less, several ASX-listed healthcare companies are working to find smarter ways to stretch the value of their existing assets. Whether it's repurposing a drug delivery platform, extending the reach of a diagnostic tool or developing next-generation compounds that act on the same biological pathway to treat other conditions, these companies are using proven science as a launchpad into broader clinical territory. The strategy is playing out globally, with Novo Nordisk and Eli Lilly providing high-profile examples of repurposing GLP-1 drugs – originally developed for type 2 diabetes – for weight loss. Blockbusters like Ozempic/Wegovy (Novo Nordisk) and Mounjaro/Zepbound (Eli Lilly) are now reshaping treatment for obesity and related conditions. It's a compelling demonstration of how one well-validated mechanism of action can be leveraged across multiple disease areas in turn lowering development risk, tapping into existing safety and efficacy data, and accelerating time to market. For ASX healthcare companies navigating tighter capital conditions, similar strategies are proving to be a smart and resourceful way to unlock broader clinical value from their existing platforms. LTR Pharma rises above ED with nasal spray tech targeting broader conditions Developer of a nasal spray treatment for erectile dysfunction (ED), LTR Pharma (ASX:LTP) has turned to a secondary program using its innovative intranasal delivery platform but this time for oesophageal motility disorders (OMD). In May, LTR Pharma announced it had inked a collaborative development agreement with US-based Strategic Drug Solutions (SDS) to develop Oroflow a spray for OMD – a group of conditions that cause impaired swallowing (dysphagia). The program leverages LTR's proven proprietary intranasal delivery platform and foundational work from its Spontan and Roxus ED treatments to target rapid symptom relief for patients with swallowing difficulties, potentially offering a non-invasive alternative to current treatments. Oroflow aims to deliver relief in 10 minutes, bypassing swallowing barriers and offering a compelling althernative to treatments including invasive procedures such as pneumatic dilation, surgery, or botulinum toxin injections. LTR Pharma is addressing a $4.5 billion OMD market projected to reach $8.1 bn by 2034 with the company announcing in its latest quarterly report that proof-of-concept testing preparations were underway. LTR Pharma executive chairman Lee Rodne said Oroflow represented an exciting expansion of its nasal spray platform. "For patients with swallowing difficulties, oral medications present obvious challenges for patients," he said. "Our nasal spray technology is designed to offer a patient-friendly solution that avoids the need to swallow medications, have surgery or undergo other problematic treatments while providing rapid symptom relief. Neuren targeting broad set of neurological conditions Neuren Pharmaceuticals (ASX:NEU) is another standout. The company and US partner Acadia was in 2023 granted the first US Food and Drug Administration (FDA) approval for a drug to treat Rett syndrome, a rare neurological disorder mostly affecting girls and emerging in infancy. Trofinetide, marketed as Daybue, is a synthetic analog of part of the hormone insulin-like growth factor 1 (IGF-1), which is a potent regulator of central nervous system development. Neuren is now advancing NNZ-2591, which also targets IGF-1. Building on the scientific foundation of trofinetide, NNZ-2591 is structurally optimised to improve brain penetration, enhance tolerability, and expand therapeutic reach across a broader set of neurodevelopmental conditions. Using a strategy that targets multiple indications from one compound, Neuren aims to accelerate development while reducing R&D expenses. Currently in phase II trials, NNZ-2591 could open new treatment avenues for other underserved neurodevelopmental conditions like Phelan-McDermid, Angelman, and Pitt-Hopkins syndromes. The company is preparing to start a phase III study of NNZ-2591 for its most advanced program Phelin McDermid. It also plans to consult with the FDA this year to establish a clinical path for NNZ-2591 to treat hypoxic-ischemic encephalopathy (HIE), which results from a baby's brain not getting enough oxygen or blood flow before, or shortly after, birth. "We believe the mechanism of action of NNZ-2591 can be broadly applicable to neurodevelopmental disorders, independent of the genetic origin," CEO Jon Pilcher told Stockhead. "We are striving to be successful in multiple settings, for the benefit of both the impacted families and our shareholders." Tracking cognition from concussion to Alzheimer's From footy fields to neurology clinics, the CogState (ASX:CGS) Cognigram digital cognitive assessment system is used by physicians to monitor key aspects of brain function – including processing speed, attention, visual learning, working memory and executive function. The test can assess cognition at a single point in time or track changes over multiple assessments. You may have heard of it referred to as the Cogstate concussion test in footy coverage. However, Cognigram has since evolved into a widely used tool in healthcare and research. Cogstate is riding a wave of global demand for cognition-related clinical trials, particularly in the race to treat Alzheimer's disease and related dementias. The company recently upgraded its financial guidance for FY25, reflecting strong performance and improved outlook across key financial metrics. Full-year profit before tax is forecast to be in the range of $12-14m, an improvement of 69% to 97% on FY24. "We are now using Cognigram, which is the same cognitive assessment used to assess AFL footballers for concussion, to prescreen for clinical trials in the earlier stages of Alzheimer's," CEO Brad O'Connor told Stockhead. "We have a contract with a large pharmaceutical company screening for 20,000 patients in the community to find those that might be appropriate to include in their very early stage Alzheimer's trials. At Stockhead, we tell it like it is. While LTR Pharma is a Stockhead advertiser, the company did not sponsor this article. Originally published as Doubling up: How ASX biotechs are multiplying their impact
