you have in front of you the de novo study. dr. de novo was studying the nicotine of rats in 83. he found that rats will self-administer nicotine when hooked up to an intravenous nicotine solution. in other words, they will work to get nicotine. and as dr. kessler told us in the hearing that he testified in self administration of this type is hallmark to addiction. i'd ask unanimous consent to enter in the record exhibit six. without objection, i will be released. mr. campbell before you as a police your press release that said the dr. de novo study showed exactly the opposite. i have a copy here which is a marked and it says that the noble study showed that nicotine is quote, in a class of non-audit active chemical compounds such as saccharin or water. i don't think any of us are ever going to find mr. campbell a study that shows rats or any other animals will self-administer saccharin or water intravenously as a way they do. nicotine. i ask unanimous consent to enter in the record exhibit seven. without objection, that will be the order. mr. campbell this is a letter from the d

novo -- i don't want to say problems. novo's slowdown maybe is benefiting lilly.g from one drug to the other. or it's a more macro thing. do you have a read? >> i'm not sure. i think, look, the long-term fundamentals for this are really quite good. both for eli and for novo. we know that, you know, this is a huge issue, it is something that has been pervasive, the question really is, it really hinges on, what can we do about insurance to cover these things? most employers are not that excited to pay for a high-cost drug if they're not going to see the benefits for years and years on their population. so, that's a really tricky dilemma they have to solve in order for it to move from consumer discretionary to health care. i think that's right. >> all right, julie and dan, thank you. and lilly out tomorrow morning. to dan's point, they better not miss. >>> coming up, a one-hit wonder in the refi market? maybe. how long will homeowners, home buyers, home refinancers, will have to wait for another opportunity to rthefi eir mortgage rate much lower? we'll talk about tha

francine: this is the man in charge of europe's most valuable company, novo nordisk, and its blockbuster diabetes and obesity drugs ozempic and wegovy. both contain the key ingredient semaglutide, revolutionizing the weight loss market and generating billions in sales. celebrities have helped their popularity soar. sharon osbourne, chelsea handler, and elon musk have all publicly talked about taking ozempic or wegovy, and they've had further backing from oprah winfrey. it's a global phenomenon, reaching millions on social media apps, including tiktok. but it's not without controversy, including possible side effects, high prices, and the company's lobbying efforts receiving criticism around the world. and in some cases, patients might also need to take the drugs indefinitely to avoid regaining the weight. chief executive lars fruergaard jorgensen says obesity is a disease and thinks the company will learn from its growing number of patients. lars: when i ask the scientists, they say the priority and mechanism will tell you that it's chronic treatment. my personal view is that we will als

why is novo nordisk between markets? >> the patients pay nothing for their co-payments.ot with insurance companies that pay us in getting reimbursement, but it's much different from country to country how the system works. >> novo nordisk says while the list price for wegovy is higher and that half of the commercial insurance providers cover wegovy, the vast majority of insurance company% pay less than $25 a dose, but medicare is prohibited from covering the drug for obesity because it's considered a lifestyle medication and other providers say they can't afford to cover it. >> the treasurer of north carolina went as far as to accuse novo nordisk of operating like a drug cartel. what's your response to that? >> i think it is unfounded, and i would say we need to have a discussion about the value of these medicines and if you look at the cost of obesity in the u.s., it's a disease that costs americans more than $400 billion a year and we are actually providing products that are actually helping taking that cost burden off. >> for those who have used it, the drugs have bee

what are you looking for within novo? >> you have eli lilly and novo.lays for the anti-obesity world which has been what has driven these stocks to these magnificent levels. novo has come back down delay from the standpoint of highflying stocks and the valuation premium has come off a bit. it will be interesting to see what both companies say about this product. not only is it allowing you to lose weight but there have been indications about what does it mean for your heart. there are indications about even possibly alzheimer's. tom: almost on a weekly basis. >> notwithstanding the market mess, i think seeing what happens in terms of further discussion about the longer term potential of this miracle drug will be on everyone's mind. tom: a great set up on another big week in terms of the earnings story. the director of equity research for bloomberg intelligence. to politics, the u.s. vice president kamala harris is set to -- is said to have met with her possible running mates. sources say harris met with arizona senator mark kelly, the pennsylvania gover

. >>> across the continent is novo nor nordisk. the pharma giant cut its outlook for full year profit operating growth. >>> let's get straight out to silvia who's live with her interview. she brings us this interview live. >> good morning then. indeed, a very important conversation. i'm joined by the ceo of novo nordisk. thanks for having us over. first, i'd like to get the word of your investors. at this stage, tracking about 5% lower in early trade. so some of of your investors are raising concerns about your message this morning. so just explain to them really, why shouldn't they be disappointed a that stage? >> the key message is we've upgraded the outlook for the second half compared to what we did last year, so we're very comfortable in our ability to supply patients and grow in the second growth. in q2 there was discussion regarding rebates, et cetera. we believe there's attractive growth in front of us. >> let's discuss the guidance. you cut it by 2 percentage points in terms of operating profit growth is. that adjustment s

for passengers of novo-moskovskaya, alkhova, prokshino and fillatova luga launched free compensatione from 5:25 to 2:00 am. on weekdays , more than 110 extra-large buses will run on the line. the interval between trains is less than one minute. a temporary dedicated lane has appeared on the solntsevo-butovo highway. and here is a wooden flooring: the bus does not need to go into the pocket, which means that disembarking and boarding are faster, from novoskovskaya almost all buses leave half-empty, you should immediately doprokshena. but to get to the alkhovaya station, you need to change to another side of the road and take a bus going in the opposite direction. at the fillatov luk station, it is already difficult to get on the bus, all because the rhythm of the movement is disrupted during the journey, it turns out to be like a crowd, then empty, several buses in a row at once, and then... in 10 minutes, a terrible situation, especially in the morning, everything is great, everything.

it's a crucial market for weight loss drug makers like novo nordisk, but challenges remain.he company's patents expire in the u.s. and the e.u. at the end of the next decade, and rival drugs are already emerging, like zepbound by eli lilly. i asked the chief executive, lars fruergaard jorgensen, about regulatory pressures and future growth. so, how do you think about pricing? again, you must have gotten some difficult questions from governments, but also, this goes back to innovation. lars: most products are priced according to the value they bring. and i feel really good about the value of our medicines, what they bring to the individual patient, but also the value to the health care system. and we have, today, health care systems around the world who were typically designed for acute care. but finding that 80% of the cost in the health care system is linked to chronic care. and we have portfolio products that are really addressing some of the chronic diseases of our day and age. diabetes, obesity, and the comorbidities that follow that. we know that there are projections t

the story for novo and lilly is all about supply and access.f shortage in the u.s. soon. the company promised supply in the second half of the year will be 1.5 times the amount available last year. we will see what happens when lilly reports next week. we will see novo reporting now wegovy is approved for heart health. we are looking at phase three results for the drug cagrisema. we are waiting for the trial that will test zepbound against wegovy. the biggest readout outside of novo and lilly is amgen with encouraging phase two results. we have not seen the data yet. we will get into this and more with the interview for pro subscribers available on cnbc.com/pro later today. >> this is an interesting discussion. it has been comedominating the healthcare chatter. why is there still so much optimism with the drugs running massively? >> we are at the early stages of the market. there are two drugs available, but so much room left to go. this could be a possible $100 billion plus market. there is, of course, the u.s. and other countries around the w

. >> that strong demand is true for the lilly rival novo nordisk.e have silvia amaro joining me at the desk with more. >> it is a good moment to compare both stocks. we heard from both companies. there is a stark difference here between novo nordisk as well as eli lilly. the demand for weight-loss drug is significant, supply is the difference between them at this stage. we saw lilly shares rising off the back of the results because they are delivering on supply. i want to share with you the comments who said if we see more supply easing from eli lilly, we could see a markets share shift from eli lilly products in the united states. some analysts are actually forecasting a 50/50 split between these two companies in terms of the market share in the united states. it is important to take a step back and also look at what other news we obtained in this space. recently, wegovy is less effective, i should say, than actually zepbound. let me share the numbers with you. patients that were on the highest dose of zepbound lost 21% of body weight over a period

you have novo and lilly and viking and amgen.see a world with neurological disorders or other areas. >> what's next with the pharma space? novo made a lot of moves. what is the next thing for these on growth drivers? >> great question. we think we are still early in the journey. novo reported 2% of obesity cases in the world are treated with glp-1 drugs. looking beyond weight loss, we think knewneuro, the alzheimer'd others, we believe it could be used for disorders. >> the next blockbuster is the different use for the glp-1? >> correct. and eli lilly is reinvesting the money from the glp-1 into the capacity and new extension into other products. >> maurtis pot from temu etf. thank you for coming in. >> thanks for having me. >>> what some are calling the good news and bad news market. bob pinisa lays it out and the next move. we'll be right back. dave's company just scored the comcast business 5-year price lock guarantee. high five! high five! -i'm in a call... it's 5 years of reliable, gig speed internet... five years of advance

high numbers for novo as well.ore supply kind of easing with lilly, they could, we could see a market share shift for the lilly products. >> and then where do we go now? do people try to snuff out pfizer's oral one the next big one and heard people say pull in your horns on these drugs what they can do if we reach more of a consumer slowdown? the next round who might be a stock to benefit or stick with tech with what's working? >> stick with lilly and novo because they're working and have a huge moat in the market. a clear challenge, marketability, even for stalwarts, have data and a pipe line of products beyond wegovy, zepbound and mounjaro. remember, lilly has oral data coming next year and poised to take share in that space. though i still love lilly and novo when it comes to obesity. not that there's not other names to play. pfizer under value. steady eddy quarter after the turbulent year. see what there's. again, lilly is becoming the g.o.a.t. in the obesity. >> that's a great line. let's talk -- a little bit

and it's a window which novo nordisk and eli lilly argue. look, we develop these drugs, we should make some money in that period. we should benefit. i agree with them, but i would argue they don't need to make quite as much as they currently do. we could regulate them. you know, at the moment, novo nordisk is now the most profitable company in, the whole of europe. so i think we should be, you know, prioritizing, getting the drugs to people who need them, not least because by many measures, obesity is the killer in this country. professor mander at harvard, who the food label that's on all food the united states sold in the us. so explain to me, presented with his calculations that obesity and food related illnesses. kill 678,000 american boys every year that's more all the american soldiers who died in all the wars of the 20th century and indeed the war in this century and. i mean, that is a staggering toll. that's, you know, not far off having covid every year. the covid pandemic, every year. right. and that stock, we shouldn't accept this

. >> novo, not so good.k. >> novo does not have as good a product as eli lilly. >> but wegovy is just fine for people who want to lose weight. >> everything's going to be brought down because suddenly people realize, wait a second, these guys are very much in a dogfight and the prices are coming down. >> are the prices coming down? >> the dogfight you're referring to is between lilly and novo. they are the leaders. we have plenty of other potential entrants as they look for an oral -- a pill instead of having to get a shot. >> amgen, i was surprised to see how not farther. that was a little discouraging for me. but i would say, david, that when you own these great growth stocks, like eli lilly, the great told me they could be a trillion dollar company and they almost touch it. you have to ride the roller coaster if you want to win with these. >> should point out, lilly shares are also down, perhaps on this. >> there's a real -- price war. >> sales in north america, operations for novo were up by 36%. >> high

so what can we expect from novo nordisk today?ities at aberdeen. he oversees a european equity fund with novo nordisk as its biggest holding. have... how has the share price done for you? how is the fund? we have been investors since 2009. fatah say it has been a spectacular investment for the fund over 15 years. ——it is fair to say. it hasn't always been an easy ride but the company has adapted and evolved and established a phenomenal position. but and established a phenomenal osition. �* position. but with the weight lots of drugs, _ position. but with the weight lots of drugs, that _ position. but with the weight lots of drugs, that has - lots of drugs, that has catapulted this country —— company. many people had not heard of novo nordisk, where as it is more of a household name. how will it be demands? absolutely. one of the extraordinary things has been the upswing in demand and they've had to buy a business called catlin to get access to the manufacturing capacity to produce enough products. that is a difficult thing because

the president held it today in novo ogorevo. the speaker, fsb director, alexander bortnikov. dear colleagues, good afternoon! today's agenda includes an operational meeting

they've outperformed novo on a year to date basis by 2 to 1, and novo's out before amgen by 2 to 1.as trying to game when i could sell lilly. sounds like i'm not going to be able to, other than where you could have sold it for the last month or two. >> and by the way, they have a whole other pipeline of drugs coming. they have an alzheimer's drug, which is basically the only game in town, with ka essential la. >> i don't know -- it's like a -- >> i was told by the scientific officer it's pronounced, is kis sun la. >> kis sun la, yeah. >> i was like, okay, that makes it easier to think about it that way. >> okay. >> but they're very positive on that, because the fda was very positive in their discussions about how it's a finite amount of time that you take this. you take this for 12 months until the plaques are cleared and then you stop. and so, there -- it's not a forever drug, and so, it's more likely it will be reimbursed. >> that's the multibillion dollar question. >> exactly. >> but to me, you were -- you and i were talking about this today. >> when -- when? >> just, you know. c

astrazeneca, bristol myers, and novo all finished in the green let's bring in jared holz.th us. and part of the lack of reaction is just some of the drugs were going to go and become generic in a matter of years anyway, so the drug makers were going to lose that revenue, in short order. >> melissa, great to see you yeah, i think that's definitely part of the conversation today we've been awaiting this list for awhile we knew the drugs that were going to be impacted we didn't know the pricing variance, but we found that out this morning and i think most of the drugs on this list, if not all of the ten will see some sort of generic competition, loss of patent exclue stifty before the end of the decade these are drugs that the street had been modeling pretty significant decleans for anyway. so, the price decreases that we're going to see at the hands of the government, i think, were just not taken all that negatively by investors today. >> this is just the first chapter, though, in this whole sort of notion of the government can negotiate with drug companies. there will be 60

novo is still struggling to get a handle on their supply. lilly's investments are clearly paying off. >> how quickly does that supply chain mismatch? it takes time. that mismatch, does that status quo remain unequal for a period of time do you think? >> we're already actually seeing, because this has been going on for a while and they're anticipating this massive demand for their drug. so we are starting to see that novo supply getting better in the f.d.a.'s drug shortsage database right now, most of the doses of wegovy are available now. but it takes time for that to show up in the sales data and novo is also dealing with price concessions and rebates given to p.b.m.'s so that's another factor that's sort of dragging the sales down for novo. >> the f.d.a. may act on zepbound for sleep apnea this year. this is where you begin to understand the breadth of these g.o.p. wands. smoking, obviously weight loss. and now sleep apnea. i could cure sleep apnea, cure smoking and not eat as much when i stopped smoking years ago. >> it's amazing. it's in

novo nordisk down 7.9%. revenue squeezed by the pharmaceutical benefit managers around will go v that drug pricing investors not liking with the stock down so much. airbnb down 13%. they missed sales. they missed bookings. this is a snapshot of some of the stocks that are not working. helping out some of the indexes. his is one reason we are off the lows. that is nvidia. women technologies up 30% -- lumen technologies. there is a 14% shortage. i expect that is some of the move. a bit of a relief for the beleaguered cybersecurity space. nvidia had been higher. this is one of the biggest boosts or drags given what direction the move is. the s&p 500, the nasdaq. given the fact it is lower, that is one reason we are off the high. apple, this one has had a tough time coming out of the pit. up 2.4% today. the chart looks pretty weak. this tech islands not strong enough to think it is going to have real legs. the markets overall are higher. scarlet: apple the first gain this week after the today selloff. thank you

novo ais a cheaper stock than lilly. i think it's a two-horse race right now. i know we spent a lot of time on biotech upstarts that are getting into this space but maybe their acquisition targets more than competition. novo looks interesting to me still off of its highs and a more fair valuation. >> they are not competition. the market is saying they're not competition. >> upstarts? >> no, i think you're right, those are acquisition targets but this is the debate here. we all know what lilly is going to do for the next two years, the question is is there anyone competing on the kind of scale? even 18 months behind. the valuation that lilly tells you that nobody is close and right now nobody is close. >> all right. so an interesting trade for sure, no doubt about it, because of the dynamic with just in essence two-horse race right now. i wonder, though, if you take a look at some of the other mega cap pharma, bio pharma names, they've been left out of the conversation right now, much because of this glp-1 phenomenon. who is going to play catch up among the big

that would likely hit the likes of lilly and novo, harder than the laggards in that space.ed some real recovery rallies to suggest they're on the verge of turning the corner. it comes at the same time we've seen very subtle loss of long-term up side. >> so you're not so much down on eli lilly, if i'm understanding you correctly, as saying eli lilly may get caught more than others in a market downdraft, that is a. b, is that others in the space may start playing some catch up-to-the likes of lilly? >> i think that's fair to say. if you look at the ratio of eli lilly to pfizer, for one, it looks overstretched. it's been skyrocketing over the past couple years, there are some indications that that ratio is a little too steep and not sustainable, when you look at the metrics that are down particularly for the four months or so. we see a lot relatively for lilly, and it would be only natural after the performance it's seen. we also have the cases from the laggards that they seem to be turning the corner. pfizer has an oversold up turn and improved momentum to the degree it's imp

a busy morning with earnings up novo novo nor lowering its outlook. also the auto parts unit and sony accelerating its profit, topping estimates, though, it did miss its full-year 2023 target for playstation sales. >>> and also soft baifrpg vision announcing a new $3.4 billion share buyback plan. >>> coming up here on the show, the one word every investor needs to know today, plus an exclusive conversation with cfo. and the concerning economic signals he're seeing. that's coming up next when "worldwide exchange" returns. stay with us. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. >>> all right. welcome back. we're watching shares of gxo as earnings. on the earnings call, gxo whose customers include apple, nike, levi, pepsi, and mars cites softer growth in europe and the e-commerce business has grown. joining me now is malcolm wilson, gxo ceo. welcome. thanks for being here in the st s

eli lilly is more of a diverse company than novo.veryone knows. they have been incredibly successful in oncology, immunology, and are launching a new drug for alzheimer's. because of the sheer size of the diabetes and obesity business a lot of the rest of lily does not get talked about. the main drugs are marketed for obesity. monjaro is marketed for diabetes. novo is more of a diabetes here play. -- pure play. they had a long tenure in diabetes with a big insulin business. they have ozempic for diabetes. they have will go beat w -- wygovie, there obesity drugs. dani: one of the big criticisms of novo was you have the drug that comes out and allows people to lose weight but you have a problem where people are losing muscle mass. they are almost becoming less healthy because of that. who is at the forefront of addressing that issue? debra: i think the jury is out whether or not the muscle mass is an issue now. lenny longer-term data on obesity which we don't have. the one thing that you should think about is, we focus on the long-term

glp-1 drug novo could slow the progression of alzheimer's disease.is noxious weight loss, there's more research out of the uk, we showed that the shingles vaccine may delay the onset of dementia as well, do the relatively small studies in incremental results but alzheimer's is a devastating disease and people are paying attention and looking for help. meanwhile the adjacent sector of biotech as had a really bad few years, what is going on you see signs of hope? >> it's been terrible if you look at xpi or biotech ets over the last five years up about 15% and 65 percentage points it's been a terrible sector, it's more of a rate trade biotech's are speculative stocks in as a drug works there is a lot of smaller capitalization into thirds of the biotech stocks lose money and below 5 billion at the speculative sector, when rates go down it is cheaper to speculate. jack: you recommend the index rather than trying to pick winners and losers. >> you can even, aaron judge hits a homerun 8% of the appearances incredible it is so hard even if you're aaron judge

it is kyiv's refusal to come to novo ogorevo near moscow for solemn re-establishment of the union, put an end to plans to preserve the empire. understanding this pushed the aging kremlin bosses to a desperate attempt to stop historical processes over which they no longer had power. but you know. it is easy to state this today, and then the finale of this geopolitical drama had not yet been written. therefore, the ballet and statements of the coup participants were broadcast on television. tanks appeared on the streets of moscow. but the commander-in-chief of the ground forces, general varennikov, was urgently dispatched to kyiv. he had to bow chairman of the verkhovna rada and member of the central committee leonid kravchuk, to support the putsch and declare a state of emergency. condition, in particular in the three galician regions. in kyiv, varennikov was met and promised full support by the commander of the kyiv military district, viktor chichevatov. larisa skoryk asks him, chichevatova, if this information is true, that military units are arriving somewhere near kyiv from all corn