The flood of cheap copies of Novo Nordisk A/S ’ blockbuster drug semaglutide in India is already reshaping the country’s fast-growing obesity market, cutting into Eli Lilly & Co .’s early lead and offering a first real test of how Novo may fare as its patents expire worldwide. Within days of dozens of generics hitting the Indian market, semaglutide’s share in the country’s GLP-1 segment jumped to ...
The flood of cheap copies of Novo Nordisk A/S ’ blockbuster drug semaglutide in India is already reshaping the country’s fast-growing obesity market, cutting into Eli Lilly & Co .’s early lead and offering a first real test of how Novo may fare as its patents expire worldwide. Within days of dozens of generics hitting the Indian market, semaglutide’s share in the country’s GLP-1 segment jumped to 33% in March from 25% a month earlier, according to researcher Pharmarack. That gain came at the expense of tirzepatide — the active ingredient in Lilly’s Mounjaro — whose share fell to 64% from 71%, Pharmarack said. The data, which counts sales of non-branded versions between March 21-31, marks the first meaningful snapshot of demand after India opened the door to non-patented semaglutide. While Canada was the first country to lose semaglutide patent protection in January, regulators there haven’t approved any generics so far. It also offers an early sign of the rush to generics Lilly will face globally as semaglutide approaches patent cliffs elsewhere. The price war and surge in demand are being closely watched as patents for the blockbuster treatment expire in major emerging markets this year, with India a key test case for how quickly generics can erode a branded drug’s dominance. Mounjaro sales in March dropped to 1.14 billion rupees ($12.3 million) in March from 1.35 billion rupees a month earlier, Pharmarack data show. Lilly will lose exclusivity on the drug next decade. This is a “gold rush phase” as generics come on board, said Sheetal Sapale, vice president of commercial at Pharmarack. Though Mounjaro still dominates the market in India, it’s taken a “major hit” following the launch of semaglutide copies, she said. Representatives for Novo Nordisk and Eli Lilly didn’t immediately respond to requests from Bloomberg News for comment. Torrent Pharmaceuticals Ltd. has emerged as the biggest local player in semaglutide after Novo, trumping rivals including Sun Pharmace...
Norwegian public transport operator Boreal ordered 20 of the boats, each with a capacity of 25 passengers, to service new and existing routes along the Norwegian coast.
Norwegian public transport operator Boreal ordered 20 of the boats, each with a capacity of 25 passengers, to service new and existing routes along the Norwegian coast.
Norwegian public transport operator Boreal ordered 20 of the boats, each with a capacity of 25 passengers, to service new and existing routes along the Norwegian coast.
Norwegian public transport operator Boreal ordered 20 of the boats, each with a capacity of 25 passengers, to service new and existing routes along the Norwegian coast.
Pacific Investment Management Co. (Pimco) is seeking to offload portions of a massive $14 billion debt package linked to Oracle Corp.’s ( ORCL ) massive data center development in Michigan, according to a Bloomberg report on Thursday. As per the report , the investment giant is looking to trim its exposure to the project, marking a significant move in the secondary market for digital infrastructur...
Pacific Investment Management Co. (Pimco) is seeking to offload portions of a massive $14 billion debt package linked to Oracle Corp.’s ( ORCL ) massive data center development in Michigan, according to a Bloomberg report on Thursday. As per the report , the investment giant is looking to trim its exposure to the project, marking a significant move in the secondary market for digital infrastructure financing. The financing is part of a broader $16.3 billion capital structure led by Bank of America , which is slated to close on April 17, 2026. The Saline Township campus is structured with roughly 15% equity—including a $2 billion contribution from Blackstone Inc. ( BX )—while the remainder will be funded via 19.5-year bonds issued through a special purpose vehicle under Rule 144A private placement , as per the terms of the proposed transaction seen by Bloomberg News. As per the report, Pimco is currently testing institutional demand for the notes, which are expected to carry a coupon of approximately 7.5%. This pricing represents a premium of just over 100 basis points (1.0%) compared to Oracle’s existing senior debt maturing in 2040. The current financing arrangement follows a period of uncertainty for the Michigan site. In December, Blue Owl Capital Inc. ( OWL ) opted not to provide equity for the project, leading to a temporary funding delay and uncertainty about financing the buildout. More on Oracle Oracle: The Most Underrated AI Infrastructure Play Oracle: Layoffs Fulfill The Promise Of AI, 'Buy' The Dip Oracle: OCI And Multicloud Execution Shift The Narrative To Buy (Rating Upgrade) TikTok doubles down on Finland with second €1B data center - report Pimco evaluating $14B debt financing for Oracle data center - report
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Selling a home is no small feat at the best of times, but buyers and vendors alike are facing a tough spring ahead. The number of Brits looking for a new home nosedived in March, with the Royal Institution of Chartered Surveyors’ gauge hitting the lowest since August 2023. Agr...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Selling a home is no small feat at the best of times, but buyers and vendors alike are facing a tough spring ahead. The number of Brits looking for a new home nosedived in March, with the Royal Institution of Chartered Surveyors’ gauge hitting the lowest since August 2023. Agreed sales plunged too. Estate agents’ near-term sales expectations have turned “significantly more pessimistic,” RICS found. It’s all down to a mortgage market knocked off course by the Iran war. While the housing market started the year on more positive footing, the average fixed mortgage has now surged back above 5% on worries the Bank of England may hike interest rates. Sure, those bets on rate rises have eased somewhat, but buyers are likely to have higher borrowing costs for some time. “What had been a cautiously improving picture for activity has been knocked off course by the wider macro fallout from the Middle East conflict,” said RICS’ Tarrant Parsons. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching Lucky Strike maker British American Tobacco has named Dragos Constantinescu as finance chief. He’ll join in September, shifting from heading up Asahi Europe & International, part of Japanese beer maker. The London Stock Exchange Group is starting a new £900 million share buyback, to be wrapped up by the end of July. Earlier this year , activist investor Elliott called on the stock exchange operator to review its portfolio and pursue a £5 billion buyback over time, which it’s been chipping away at . German grocers Aldi and Lidl , which have upended the UK market since arriving in the early 1990s, are no longer just competing with the big names. Now they’re battling one another for new areas and custom...
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, JD Vance will lead US-Iran talks in Islamabad this weekend even as fighting continues in the ...
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, JD Vance will lead US-Iran talks in Islamabad this weekend even as fighting continues in the Middle East. Tehran claims the ceasefire has been violated by Israeli strikes in Lebanon. Oil rebounded after its biggest one-day drop since April 2020, as the Strait of Hormuz remained largely blocked. Bloomberg has learned that the US wants specific commitments from its European allies on their pledge to help secure the Strait of Hormuz. This comes after the US President again lashed out at NATO following his meeting with the alliance's chief Mark Rutte in the White House. (Source: Bloomberg)
Yao Yuzhou. Photo: VCG A retired senior Communist Party official who previously oversaw law enforcement and internal security in China’s eastern Anhui province has been placed under investigation for suspected corruption, the country’s top anti-graft watchdog said. The Central Commission for Discipline Inspection announced on April 9 that Yao Yuzhou, a former member of the Anhui Provincial Party S...
Yao Yuzhou. Photo: VCG A retired senior Communist Party official who previously oversaw law enforcement and internal security in China’s eastern Anhui province has been placed under investigation for suspected corruption, the country’s top anti-graft watchdog said. The Central Commission for Discipline Inspection announced on April 9 that Yao Yuzhou, a former member of the Anhui Provincial Party Standing Committee and head of the provincial Political and Legal Affairs Commission, is currently facing a disciplinary review and supervisory investigation for suspected severe violations of party discipline and the law.