Finance with Michael Janda: Wednesday 4th June 2025
Duration: 12 minutes 15 seconds 12 m
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Sydney Morning Herald
5 days ago
- Sydney Morning Herald
Ozempic maker takes $107 billion hit as alarm bells ring louder
Investors wiped $US70 billion ($107 billion) off Novo Nordisk's market value after the maker of Ozempic and Wegovy issued a profit warning and named a new CEO, as it battles rising competition in the obesity drug market. Novo named Maziar Mike Doustdar as its new chief executive, turning to a veteran insider to revive sales and reassure investors rattled by fears the Danish drugmaker is losing ground in the obesity drug race it started. Doustdar's appointment failed to stem a stock market rout sparked by Novo slashing its outlook for 2025 sales growth to between 8 per cent and 14 per cent, from between 13 per cent and 21 per cent previously. Its shares plunged nearly 30 per cent before paring some losses to trade down over 20 per cent by mid-afternoon. The shares are now down 44 per cent this year. 'The magnitude of the guidance cut is a shocker,' Markus Manns, a portfolio manager at mutual fund firm Union Investment, a Novo shareholder, told Reuters, adding that Novo's issues went deeper than 'compounded' copycats to Wegovy. Compounded drugs are custom-made medicines that are based on the same ingredients as branded drugs. Novo has been hit by copycats of its GLP-1 drugs Wegovy for weight-loss and Ozempic for diabetes. US law bars pharmacies from replicating approved drugs, but has allowed 'compounding' for patients needing custom doses or formulations. Loading The company said in a statement that it cut its 2025 sales outlook due to lower growth expectations in the second half in the US, both for Wegovy and Ozempic in the GLP-1 diabetes market. The drugmaker, which became Europe's most valuable listed company following the launch of Wegovy in 2021, is now facing a reckoning as it looks to turn things around after the abrupt removal in May of CEO Lars Fruergaard Jorgensen.
The Age
5 days ago
- The Age
Ozempic maker takes $107 billion hit as alarm bells ring louder
Investors wiped $US70 billion ($107 billion) off Novo Nordisk's market value after the maker of Ozempic and Wegovy issued a profit warning and named a new CEO, as it battles rising competition in the obesity drug market. Novo named Maziar Mike Doustdar as its new chief executive, turning to a veteran insider to revive sales and reassure investors rattled by fears the Danish drugmaker is losing ground in the obesity drug race it started. Doustdar's appointment failed to stem a stock market rout sparked by Novo slashing its outlook for 2025 sales growth to between 8 per cent and 14 per cent, from between 13 per cent and 21 per cent previously. Its shares plunged nearly 30 per cent before paring some losses to trade down over 20 per cent by mid-afternoon. The shares are now down 44 per cent this year. 'The magnitude of the guidance cut is a shocker,' Markus Manns, a portfolio manager at mutual fund firm Union Investment, a Novo shareholder, told Reuters, adding that Novo's issues went deeper than 'compounded' copycats to Wegovy. Compounded drugs are custom-made medicines that are based on the same ingredients as branded drugs. Novo has been hit by copycats of its GLP-1 drugs Wegovy for weight-loss and Ozempic for diabetes. US law bars pharmacies from replicating approved drugs, but has allowed 'compounding' for patients needing custom doses or formulations. Loading The company said in a statement that it cut its 2025 sales outlook due to lower growth expectations in the second half in the US, both for Wegovy and Ozempic in the GLP-1 diabetes market. The drugmaker, which became Europe's most valuable listed company following the launch of Wegovy in 2021, is now facing a reckoning as it looks to turn things around after the abrupt removal in May of CEO Lars Fruergaard Jorgensen.
News.com.au
6 days ago
- News.com.au
Top 10 at 11: ASX falls as tariffs bring headwinds
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. In the cold hard light of morning News the EU had managed to secure a trade deal with the US was enough to soothe markets yesterday, lifting a solid 0.36% on broad market gains. This morning, the truth of the matter is sinking in. While avoiding the 30-50% tariffs on EU goods Trump had been threatening was definitely a win for the global economy, the overall increase in tariffs is still a net loss. In 2022, the trade weighted average global tariff was about 4%. Obviously, there are a huge range of trade agreements and regional or sector specific tariffs are common, but something like two thirds of all global trade was entirely tariff free. The new reality is looking closer to a 15% tariff on most goods, a 3-fold increase, and that's going to have long-term and far-reaching effects on the global economy. The ASX fell as much as 0.33% in the first hour this morning, with 8 of 11 sectors retreating. The financials sector is leading losses, down 0.75%, while energy mounts a resistance, climbing 0.37% on a 2% lift in oil prices overnight. WINNERS Code Name Last % Change Volume Market Cap RAN Range International 0.003 50% 37086 $1,878,581 BEO Beonic Ltd 0.295 37% 64555 $15,235,117 HLX Helix Resources 0.002 33% 2000000 $5,046,291 OSX Osteopore Limited 0.015 25% 5083213 $2,485,674 ALR Altairminerals 0.005 25% 12936351 $17,186,977 CAV Carnavale Resources 0.005 25% 11000 $16,360,874 PKO Peako Limited 0.0025 25% 33333 $2,975,484 ADG Adelong Gold Limited 0.006 20% 268333 $11,243,383 DRE Dreadnought Resources 0.012 20% 3152528 $50,795,000 FBR FBR Ltd 0.006 20% 2000566 $28,447,261 In the news... LiDAR-based logistics company Beonic (ASX:BEO) has secured a contract to deploy its passenger flow management technology across seven major international airports in north Africa. BEO reckons the contract is worth about $10.6m over its 2.5-year term, with an option to extend for another 3 years. The company is already operating in the London Heathrow, JFK Terminal 4, Narita and Abu Dhabi airport hubs. Back in July 2024, regenerative medicine company Osteopore (ASX:OSX) inked an exclusive agreement with a subsidiary of Zimmer Biomet Holdings to distribute OSX craniofacial products in Europe, the Middle East and Africa, and the Asia Pacific. In the first 12 month of the partnership implant sales in Europe, Australia and Hong Kong tripled compared to the year before. Management says it's clear evidence of the market's appetite for OSX products and demonstrates the resilience of Osteopore's manufacturing capability. LAGGARDS Code Name Last % Change Volume Market Cap ANR Anatara Ls Ltd 0.006 -33% 3175653 $1,920,454 DTM Dart Mining NL 0.003 -25% 8365431 $4,792,222 MRQ Mrg Metals Limited 0.003 -25% 125000 $10,906,075 SFG Seafarms Group Ltd 0.0015 -25% 1 $9,673,198 RFT Rectifier Technolog 0.004 -20% 2500 $6,909,920 KZR Kalamazoo Resources 0.09 -18% 2520457 $24,133,287 TMX Terrain Minerals 0.0025 -17% 3666666 $7,595,443 GTR Gti Energy Ltd 0.003 -14% 496738 $13,029,292 CHR Charger Metals 0.052 -13% 149718 $4,645,215 NIM Nimyresourceslimited 0.06 -12% 787417 $16,352,694
