Latest News from Business Standard
&w=3840&q=100)
Business Standard
24 minutes ago
- Business
- Business Standard
Why Ozempic maker Novo Nordisk is losing its lead in weight-loss drugs
In 2023, Novo Nordisk overtook Louis Vuitton Moët Hennessy (LVMH) to become Europe's most valuable company, riding the meteoric rise of its weight-loss and diabetes drugs, Wegovy and Ozempic. But soon after, the Danish firm has seen its dominance slip as rival Eli Lilly surged ahead in drug efficacy, manufacturing, and marketing. Despite controlling 62 per cent of the GLP-1 agonist market, drugs that mimic gut hormones to suppress appetite, Novo Nordisk's share prices have tumbled over 50 per cent in the past year. Internal struggles, product shortages, and clinical trial disappointments have raised doubts about the company's long-term prospects in a market expected to be worth $150 billion annually by 2035, reported The Wall Street Journal (WSJ). Earlier this month, these concerns culminated in a surprise leadership shakeup. The company's controlling foundation forced the ouster of CEO Lars Fruergaard Jørgensen, signalling a growing urgency to course-correct. How Wegovy's underestimation hurt Novo Nordisk's momentum Novo Nordisk's early misstep was a critical underestimation of demand for Wegovy, launched in 2021 as a weight-loss version of its blockbuster diabetes drug Ozempic. Based on the limited uptake of an earlier weight-loss drug, Saxenda, the company prepared for modest sales and used a cautious manufacturing model, blending internal and contract production. But five weeks post-launch, prescriptions for Wegovy exceeded what Saxenda had taken five years to achieve. Instead of scaling up rapidly, Novo responded by limiting supply, urging doctors not to start new patients and rationing lower-dose starter kits to protect supplies for existing users, according to WSJ. This decision had serious consequences. Shortages pushed consumers toward compounded, copycat versions of semaglutide sold at lower prices through US compounding pharmacies. Telehealth platforms capitalised on this gap, offering cheaper alternatives and eating into Novo Nordisk's market share. It is important to note that the firm has recently announced that it plans to bring Wegovy to Indian markets as well. How Eli Lilly capitalised on Novo Nordisk's supply and trial delays Eli Lilly, once trailing in the weight-loss space, quickly filled the supply void. It launched Mounjaro for diabetes in 2022 and followed up with Zepbound, a weight-loss version, in 2023. Zepbound's clinical data showed over 20 per cent body weight reduction, surpassing Wegovy's results. While Lilly also faced supply constraints, it managed to resolve them faster than Novo Nordisk. Today, weekly US prescriptions for Zepbound have overtaken Wegovy's, and Mounjaro is closing in on Ozempic's numbers. Lilly also moved faster on consumer engagement. It launched a direct-to-patient service offering discounted weight-loss drugs and was first to partner with telehealth firm Ro. Novo Nordisk only rolled out similar initiatives months later. Lilly's drug pipeline surges while Novo Nordisk stumbles in trials While Lilly has emerged with a promising R&D pipeline, Novo Nordisk has faced disappointing results. In December, lacklustre trial data for its experimental combination drug CagriSema triggered a 20 per cent plunge in its share value, erasing nearly $100 billion in market capitalisation. Although CagriSema is still in phase 3 trials and has demonstrated weight-loss benefits, it has failed to distinguish itself from existing therapies in head-to-head comparisons. Meanwhile, Eli Lilly's Orforglipron, a once-daily oral GLP-1 agonist, has cleared initial phase 3 trials. Analysts see this as a significant development, as small-molecule oral drugs are typically cheaper and easier to manufacture compared to injectables. Novo Nordisk hopes to bring an oral form of semaglutide (Wegovy) to market by the end of 2025, but it is already perceived as lagging in the next-generation obesity drug race. Eli Lilly, meanwhile, announced earlier this month that a head-to-head clinical trial showed that its obesity drug tirzepatide (sold as Mounjaro) led to greater weight loss in adults than semaglutide (sold as Wegovy). India's anti-obesity drug market quadruples in five years India's anti-obesity drug market has expanded more than fourfold over the past five years, driven by a surge in lifestyle-related diseases, greater affordability, and a growing willingness among affluent consumers to pay for weight-loss treatments. Data from PharmaTrac, an industry tracker, shows the market reached ₹576 crore as of March 2025, up from ₹133 crore in March 2021. The growth has been spearheaded by GLP-1 receptor agonists, particularly semaglutide, which accounts for 69 per cent of the market at ₹397 crore. Novo Nordisk's oral semaglutide pill, Rybelsus, launched in 2022, has emerged as the key growth driver, overtaking older molecules such as orlistat and liraglutide. Also read: However, price remains a key barrier to wider access. Eli Lilly's Mounjaro is priced between ₹14,000 to ₹17,500 per month in India, depending on the dosage, making it unaffordable for most patients outside the top-income bracket. Analysts estimate that even if just 0.5 per cent of India's 101 million diabetics adopt these injectable therapies, the market could generate $1.5 billion in annual revenue. Despite the premium pricing, market experts expect significant expansion post-2026, when semaglutide goes off-patent and generic versions become available. According to Vishal Manchanda, senior vice-president of institutional research at Systematix Group, generics are likely to be priced up to 95 per cent lower, triggering a dramatic rise in volumes. Meanwhile, non-GLP-1 weight-loss drugs continue to maintain a limited footprint. Orlistat holds a market value of ₹72 crore, followed by dulaglutide (₹72 crore) and liraglutide (₹34 crore), according to Pharmarack data. Additionally, scientists have found that certain weight-loss drugs, originally developed to treat type 2 diabetes, might not only help people shed kilos but also significantly lower the risk of obesity-related cancers. Can Novo Nordisk regain its global weight-loss drug dominance? Despite its setbacks, Novo Nordisk is not out of the picture. It has ramped up investment in production, including a $16 billion deal through its foundation to acquire contract manufacturer Catalent. In the US, it recently partnered with CVS to make Wegovy the preferred weight-loss drug under the pharmacy chain's benefit plans. The battle between Novo Nordisk and Eli Lilly is far from over. Both companies dominate the GLP-1 market, and the cost, efficacy, and safety of future therapies will determine how market share evolves.
&w=3840&q=100)
Business Standard
an hour ago
- Health
- Business Standard
If life gives you lemons, count yourself lucky: They top the health charts
What if we told you that the fruit considered the healthiest in the world is not an exotic berry or a trendy superfood, but something very simple and familiar? It's lemon. Yes, the same fruit you squeeze into your water or drizzle over a salad. Here is why this humble citrus is on top, and what other fruits follow it in nutrient density and benefits. Why is lemon considered so healthy? Rich in vitamin C: Lemons are one of the best natural sources of vitamin C, a powerful antioxidant. Low in calories, high in nutrients: Per 100 grams, lemon contains only 29 calories but offers significant amounts of vitamin C, potassium, fibre, flavonoids, and antioxidants. This makes it a nutrient-dense food, offering maximum benefits with minimal calories, according to the US Centers for Disease Control and Prevention (CDC). What are the key health benefits of lemons? Immunity booster: Thanks to their sky-high vitamin C content, lemons help strengthen your immune system. Iron absorption: Vitamin C helps convert non-heme iron (found in plants) into a more readily absorbable form. Weight management: Lemons are low in calories and support satiety, digestion, and fat metabolism. Heart health: Rich in flavonoids and antioxidants, lemons may help reduce the risk of heart disease. Skin and hair health: Vitamin C helps in collagen production, giving you clearer skin and stronger hair. What are the easy and effective ways of using lemons? You don't need to bite into a raw lemon to get its goodness. Here are easy ways to include lemons in your daily diet: Add fresh lemon juice to warm water in the morning Drizzle over salads and steamed veggies Use lemon zest in baking or marinades Make fresh lemonade with minimal sweetener Mix with honey and ginger as a soothing drink Which other fruits are also highly nutritious? In addition to lemons, other fruits recognised for their health benefits include: Strawberries: Rich in vitamin C and antioxidants, supporting heart health Oranges: High in vitamin C and flavonoids, boosting immunity Limes: Contain vitamin C and antioxidants, aiding digestion Pink grapefruit: Offers vitamin C and lycopene, promoting heart health Blackberries: Packed with fibre and antioxidants, supporting digestive health White grapefruit: Provides vitamin C and fibre, aiding in weight management Cherimoya (custard apple): Loaded with B vitamins, potassium, and antioxidants Papaya: Rich in enzymes for digestion and vitamin A Pomegranate: Contains polyphenols and antioxidants that reduce inflammation Why aren't commonly loved fruits like apples and bananas at the top? According to studies, fruits like apples and bananas are nutritious, but they fall short in terms of nutrient density per calorie when compared to citrus fruits and berries. Apples are high in fibre and good for heart health, while bananas are rich in potassium, but neither offers the same vitamin concentration as lemons, berries, or grapefruits per 100 kcal.
&w=3840&q=100)
Business Standard
an hour ago
- Business
- Business Standard
MMTC, IFCI, Sigachi Ind: Penny stocks under ₹100 surge up to 15% today
Stocks under ₹100 rise in trade: Shares of several penny stocks priced under ₹100 saw sharp gains in Thursday's trading session, with select counters surging up to 16 per cent. The rally was led by MMTC, which jumped 14.58 per cent to ₹79.52 amid heavy volumes, followed by IFCI climbing 6.15 per cent to ₹74.50 and Sigachi Industries gaining 5.63 per cent to ₹53.21. The upbeat sentiment extended to other low-priced stocks as well, including IDBI Bank (up 3.66 per cent), Delta Corp (up 3.24 per cent), Allcargo Terminals (up 3.30 per cent), Geojit Financial Services (up 1.67 per cent), and HMA Agro Industries (up 2.58 per cent), each recording notable gains. Real estate and infrastructure players like Shriram Properties and Vascon Engineers also saw increased investor interest, rising 3.51 per cent and 4.83 per cent, respectively. In comparison, BSE Sensex underperformed, trading 0.19 per cent lower at 81,156.89 level, around 12:50 PM. Individually, shares of MMTC surged sharply today, driven by heavy trading volumes. By 12:50 PM, approximately 14.92 million shares worth ₹115.34 crore had changed hands on the BSE, while on the NSE, the volume was considerably higher with 118.83 million shares traded, amounting to ₹918.62 crore. IFCI also rallied on robust volumes. Around the same time, 21.59 million shares worth ₹156.14 crore were traded on the BSE. On the NSE, 118.5 million shares exchanged hands, generating turnover of ₹857.63 crore. IDBI Bank saw similar action, with 11.72 million shares worth ₹111.29 crore traded on the NSE, and 5.17 lakh shares worth ₹4.89 crore changing hands on the BSE. Meanwhile, Shriram Properties advanced on the back of strong Q4 results. The company's net profit more than doubled, rising 137 per cent Y-o-Y to ₹47.7 crore in Q4FY25. Revenue grew 19 per cent to ₹427.5 crore, while Ebitda nearly doubled to ₹89.2 crore. Net debt fell 26 per cent Y-o-Y, reducing the debt-equity ratio to 0.24x.
&w=3840&q=100)
Business Standard
an hour ago
- Politics
- Business Standard
Israel to establish 22 new Jewish settlements in occupied West bank
Israel said Thursday it would establish 22 Jewish settlements in the occupied West Bank, including the legalisation of outposts already built without government authorisation. Israel captured the West Bank, along with the Gaza Strip and east Jerusalem, in the 1967 Mideast war and the Palestinians want all three territories for their future state. Most of the international community views settlements as illegal and an obstacle to resolving the decades-old conflict. Defence Minister Israel Katz said the settlement decision strengthens our hold on Judea and Samaria, using the biblical term for the West Bank, "anchors our historical right in the Land of Israel, and constitutes a crushing response to Palestinian terrorism. He added it was also a strategic move that prevents the establishment of a Palestinian state that would endanger Israel. Israel has already built well over 100 settlements across the territory that are home to some 500,000 settlers. The settlements range from small hilltop outposts to fully developed communities with apartment blocks, shopping malls, factories and public parks. The West Bank is home to 3 million Palestinians, who live under Israeli military rule with the Western-backed Palestinian Authority administering population centres. The settlers have Israeli citizenship. Israel has accelerated settlement construction in recent years long before Hamas' October 7, 2023, attack ignited the war in Gaza confining Palestinians to smaller and smaller areas of the West Bank and making the prospect of establishing a viable, independent state even more remote. During his first term, President Donald Trump's administration broke with decades of US foreign policy by supporting Israel's claims to territory seized by force and taking steps to legitimise the settlements. Former President Joe Biden, like most of his predecessors, opposed the settlements but applied little pressure to Israel to curb their growth. The top United Nations court ruled last year that Israel's presence in the occupied Palestinian territories is unlawful and called on it to end, and for settlement construction to stop immediately. Israel denounced the non-binding opinion by a 15-judge panel of the International Court of Justice, saying the territories are part of the historic homeland of the Jewish people. Calls for settlements in war-ravaged Gaza Israel withdrew its settlements from the Gaza Strip in 2005, but leading figures in the current government have called for them to be re-established and for much of the Palestinian population of the territory to be resettled elsewhere through what they describe as voluntary emigration. Palestinians view such plans as a blueprint for their forcible expulsion from their homeland, and experts say the plans would likely violate international law. Israel now controls more than 70 per cent of Gaza, according to Yaakov Garb, a professor of environmental studies at Ben Gurion University, who has examined Israeli-Palestinian land use patterns for decades. The area includes buffer zones along the border with Israel as well as the southern city of Rafah, which is now mostly uninhabited, and other large areas that Israel has ordered to be evacuated. The war began with Hamas' October 7 attack, in which militants stormed into Israel, killing some 1,200 people, mostly civilians, and abducting 251. Hamas still holds 58 hostages, around a third of them alive, after most of the rest were released in ceasefire agreements. Israeli forces have rescued eight and recovered dozens of bodies. Israel's retaliatory offensive has killed over 54,000 Palestinians, mostly women and children, according to Gaza's Health Ministry, which does not say how many of the dead were civilians or combatants.
&w=3840&q=100)
Business Standard
an hour ago
- Business
- Business Standard
Explainer: What Musk's 130-day DOGE tenure achieved, and what it didn't
Elon Musk announced that he would be stepping down as head of the Department of Government Efficiency (DOGE), a role he held under US President Donald Trump. Now, as he exits after 130 days, public debate swirls over what, if anything, the initiative has truly accomplished. What is DOGE? The Department of Government Efficiency (DOGE) was created by Executive Order 14158 on January 20, 2025, with the aim of modernising federal operations, cutting wasteful spending, and trimming bureaucracy. Born from conversations between Trump and Musk in 2024, DOGE was positioned as a high-tech reform unit to overhaul how Washington works and spend less doing it. Musk was appointed as a 'special government employee' for 180 days, during which he led DOGE with an ambitious promise: slash $2 trillion from federal spending and 'end the tyranny of bureaucracy.' Former Republican presidential candidate Vivek Ramaswamy was also tapped to lead this charge. While Ramaswamy soon resigned to run for Ohio governor, Musk remained the face of DOGE. What Musk claims DOGE achieved On his way out, Musk claimed DOGE had saved the government $150 billion by targeting waste, fraud, and inefficiency. In a farewell message on his platform X, he thanked Trump for the opportunity. He boasted a 12 per cent reduction in the federal workforce, about 260,000 jobs, as a sign of progress. More than two million government employees were offered voluntary buyouts. According to DOGE's own figures, savings reached $160 billion by late April. These, Musk argued, were achieved by eliminating 'crazy' diversity contracts, dismantling foreign aid programmes, slashing staff, and targeting fraud and redundancy. What critics say DOGE achieved Also Read However, watchdogs and analysts have questioned both Musk's figures and methods. While DOGE claims up to $160 billion in savings, only $61.5 billion has been itemised publicly, and just $32.5 billion of that has supporting documentation, according to a BBC analysis. Moreover, critics argue the savings have come at a steep price. DOGE's mass layoffs have disrupted vital services and triggered legal challenges. Courts have blocked some of its actions, including access to sensitive treasury data, citing constitutional concerns. Lawsuits from unions, watchdogs and state officials accuse DOGE of bypassing Congress and acting with undue secrecy. Martha Gimbel of the Yale Budget Lab told The Guardian, 'There clearly been a degeneration of government services.' She warned of growing delays and inefficiencies, especially at agencies like the Department of Veterans Affairs, which faces a planned 80,000 job reduction. DOGE and Musk controversies Political pushback Democrats accused the agency of overstepping constitutional limits by cutting budgets that had already been approved by Congress. Musk's leadership became a lightning rod, drawing ire not only from Democrats but also from within the Republican base, as concerns grew over the department's aggressive cost-cutting and lack of legislative oversight. Tesla takedown Musk's involvement with DOGE triggered strong backlash from Tesla investors. Major shareholders, including pension funds, blamed his divided focus for a 71 per cent drop in Tesla's quarterly profits and a 13 per cent decline in sales, demanding that he commit at least 40 hours a week to the company or step down as the chief executive. At the same time, the ' Tesla Takedown ' movement gained momentum, with protests at Tesla stores across the US and Europe urging a consumer boycott over Musk's political activities and DOGE-driven federal budget cuts. Tesla's European sales plunged by 49 per cent, further fueling investor concerns. Public opinion Public opinion has soured on Musk. A Pew poll in February showed 54 per cent of Americans view him unfavourably, with 37 per cent rating him "very unfavourable". Amy Gleason vs Musk: Who was in charge of DOGE? In a strange turn of events, the Trump administration in February claimed Amy Gleason was officially in charge of the DOGE, despite Elon Musk being widely seen as its public leader. This announcement came amid questions about Musk's formal role and concerns over potential conflicts of interest. However, President Trump later clarified that Musk remained central to the DOGE initiative, calling him the 'visionary' behind the effort. Amy Gleason, a healthcare technology executive with prior experience in the US Digital Service and the White House Covid-19 data team, was positioned as the department's administrator on paper. The conflicting messages about who was truly in charge created public confusion and raised concerns about transparency and oversight within the department. What did DOGE really achieve? The accomplishments: - High-profile cost-cutting measures - Structural changes in select departments The criticism: - Overblown savings claims - No demonstrable improvement in public services - Lawsuits, protests, and severe public backlash During a press meet on May 1, Musk acknowledged that DOGE's results fell short of his $1 trillion goal, stating, 'In the grand scheme of things, I think we've been effective. Not as effective as I'd like... It can be done, but it requires dealing with a lot of complaints.' He blamed institutional resistance and political pain thresholds for limiting deeper cuts.
