Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2025-08-06 14:40:17| Fast Company

Novo Nordisk cautioned on Wednesday that it expects continued competition this year from copycat versions of its Wegovy obesity drug, as it battled pressure from compounding pharmacies in the United States and rival Eli Lilly. The Danish drugmaker, which became Europe’s most valuable company worth $650 billion last year on sales of its blockbuster weight-loss drug, is facing a pivotal moment as Wegovy loses market share, especially in the U.S. Last week, competition from compounders who make copycat medicines based on the same ingredients as Wegovy prompted the company to cut its full-year sales and profit outlook. That took investors by surprise and wiped $95 billion off Novo’s market value. On a media call on Wednesday, outgoing CEO Lars Fruergaard Jorgensen said the copycat market has “equal size to our business” and compounded versions of Wegovy were sold at a “much lower price point.” In May, the company said it expected many of the roughly one million U.S. patients using compounded GLP-1 drugs to switch to branded treatments after a U.S. Food and Drug Administration (FDA) ban on compounded copies of Wegovy took effect on May 22, and it expected compounding to wind down in the third quarter. However, CFO Karsten Munk Knudsen said on Wednesday that more than one million U.S. patients were still using compounded GLP-1s and that Novo’s lowered outlook has “not assumed a reduction in compounding” this year. ENCOURAGING PRESCRIPTION DATA Knudsen reiterated that the company was pursuing multiple strategies, including lawsuits against compounding pharmacies, to halt unlawful mass compounding of its blockbuster medicine. Jorgensen said the company was encouraged by the latest U.S. prescription data for Wegovy. While Novos weight-loss drug was overtaken earlier this year by rival Lillys Zepbound in terms of U.S. prescriptions, that lead has narrowed in the past month. Second-quarter sales of Wegovy rose by 36% in the U.S and more than quadrupled in markets outside the U.S. compared to a year ago, Novo said. Barclays analysts said in a note that while Wegovy’s U.S. pricing held steady in the second quarter, the company expects deeper erosion in the key U.S. market in the second half, due to a greater portion of sales expected from the direct-to-consumer or cash-pay channel, as well as higher rebates and discounts to insurers. Knudsen said it is expanding its U.S. direct-to-consumer platform, NovoCare, launched in March, and may need to pursue similar cash sales directly to patients, outside of insurance channels, in some markets outside the U.S. COST CUTS The company reiterated its full-year earnings expectations on Wednesday after last week’s profit warning reduced its 2025 sales outlook, and named veteran insider Maziar Mike Doustdar to take over from Jorgensen on Thursday. Jorgensen said Novo was acting to “ensure efficiencies in our cost base” as the company announced on Wednesday it would terminate eight R&D projects. Doustdar said last week the company will pursue “savings and efficiencies.” “There seems to be a larger R&D clean-out than usual, but we do not know if this reflects a strategic re-assessment or just a coincidence,” analysts at Jefferies said in a note. Investors have questioned whether Novo Nordisk can stay competitive in the booming weight-loss drug market. Several equity analysts have cut their price targets and recommendation on the stock since last week. Shares in Novo plunged 30% last week their worst weekly performance in over two decades and were down 1.8% in morning trading on Wednesday. Sales rose 18% in the quarter to 76.86 billion Danish crowns ($11.92 billion), below analysts’ initial expectations. Jacob Gronholt-Pedersen and Maggie Fick, Reuters


Category: E-Commerce

 

LATEST NEWS

2025-08-06 13:57:41| Fast Company

Between rising prices and dwindling job growth, using “buy now, pay later” on everything from concert tickets to fast food deliveries is becoming increasingly appealing. But greater use could also mean greater trouble, as more people fall behind on repaying these loans.Buy now, pay later loans gained popularity during the pandemic, especially among young people. While these loans can help you make large purchases without paying interest or undergoing a hard inquiry in your credit report, they can also easily be overused.About 4 in 10 Americans under the age of 45 say they’ve used “buy now, pay later” services when spending on entertainment or restaurant meals, or when paying for essentials like groceries or medical care, according to a poll from The Associated Press-NORC Center for Public Affairs Research.Buy now, pay later loans were not previously reported to the three major credit reporting bureaus. But consumers will soon see the impact of buy now, pay later loans on their FICO credit scores.Whether you’re a first-time or recurring user of buy now, pay later plans, here are some expert recommendations to use this tool responsibly. Focus on needs vs. wants Buy now, pay later plans divide purchases in monthly installments, typically in four payments. These loans are marketed as having low or no interest. Klarna, Afterpay, PayPal and Affirm are among the most popular buy now, pay later companies.These loans should ideally be used for large purchases or necessities, said Lauren Bringle, Accredited Financial Counselor at Self Financial.Bringle recommends asking yourself these questions before purchasing: Can I survive without this purchase right now? Do I need it for work, school, or a basic household need?Buy now, pay later is best used when you have a plan for the purchase, not for impulse buys. For example, when you need to buy a computer for school or a new refrigerator for your house, recommended Tyler Horn, head of planning at Origin, a budgeting app. Pause before purchasing Before deciding to take out a buy now, pay later loan, it’s a good idea to pause and consider if it’s the best financial decision for you, recommended Erika Rasure, Chief Financial Wellness advisor for Beyond Finance.Buy now, pay later plans can be positive budgeting tools when used strategically. However, it’s essential you know your spending behaviors before using them, said Rasure. If you’re an emotional spender, it might be hard for you to moderate your use of this tool and you could end up adding to your financial stress.“Buy now, pay later can become a coping mechanism rather than a financial tool that can get you a good deal or improve your cash flow,” said Rasure.If you have other payments due, such as credit card or student loan payments, consider how a buy now, pay later loan will add to your monthly payments, recommended Sarah Rathner, Senior Writer for NerdWallet. Read the fine print Like credit cards, each buy now, pay later loan has terms and conditions that can vary by purchase and providers. It’s crucial that you know what you’re agreeing to before you sign up, recommended Michael Savino, Chief Lending Officer at Municipal Credit Union.“Always read the fine print. Understand fees, repayment schedules, and what happens if you miss a payment or go into default,” said Savino.In general, if you miss a buy now, pay later payment, you can face fees, interest, or the possibility of being banned from using the services in the future. Avoid stacking BNPL loans You can easily run into difficulty keeping up with the cost and schedule of your repayments if you’re trying to simultaneously pay off two, three or more loans, Savino said.“Juggling multiple plans creates a blind spot and overall debt load, and multiple repayment dates are hard to manage,” Savino said. “So more loans makes it more difficult to budget.”The best approach: Stay mindful of your overall spending, and limit the number of buy now, pay later loans. Keep track of your loan(s) Whether or not you’re paying for multiple buy now, pay later purchases at once, you want to be aware of where your money is going at any given time, recommended Courtney Alev, consumer advocate at Credit Karma.“Buy now, pay later often requires automatic payments, so you want to make sure that your account is funded so that those payments are processing successfully,” recommended Jennifer Seitz, director of education at Greenlight, a financial literacy app for families.There are many ways to track your loan payments from setting a reminder on your calendar, to creating an intricate excel spreadsheet or tracking them on an app, said Jesse Mecham, founder of the budgeting app YNAB.Finding the best method that works for you will help you stay on track and avoid late fees. Make buy now, pay later work for you For shoppers with low credit scores or no credit history, buy now, pay later loans can seem like the best, if not the only, loan option. If used moderately and responsibly, these short-term loans can be a positive lending exercise, said Savino.“It allows you to to establish a baseline (and) get access to other affordable credit options that you can leverage that will ultimately provide financial wellness,” he added.Still, NerdWallet’s Rathner emphasized that shoppers using these tools always remember that buy now, pay later is a form of borrowing money.“It just kind of feels like you’re given a little extra time to pay back,” Rathner said. “But the reality is, if you miss payments, it can hurt your credit, much like missing payments with any other loan.”The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism. Adriana Morga and Luena Rodriguez-Feo Vileira, Associated Press


Category: E-Commerce

 

2025-08-06 13:51:00| Fast Company

Claires, the fashion and accessories retailer that has been a staple of American malls for decades, has filed for Chapter 11 bankruptcy protection for a second time. The retail chain, aimed at the teen and tween market, has been struggling with the same headwinds faced by many brick-and-mortar businesses, including the broader shift to online shopping, increased competition, rising prices, and an unsustainable debt load. In a press release on Wednesday, parent company Claire’s Holdings LLC said it will use the Chapter 11 process to “maximize the value” of its business. That includes exploring a potential sale. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives,” Claire’s CEO Chris Cramer said in a statement. Which Claire’s stores are closing? While Claire’s said its North American stores will remain open as part of the Chapter 11 process, it’s likely that many will not survive as the company reviews its physical footprint and assesses which locations may be underperforming. In fact, in a bankruptcy court filing, Claire’s says it has already reviewed its lease portfolio and decided that some stores “should be exited.” The filing identifies 18 locations across numerous states that will almost certainly begin store closing sales soon, if they haven’t already: Market Street at Lynnfield Claire’s Lynnfield Massachusetts Woodinville Plaza Claire’s Woodinville Washington Galleria at Tyler-ICG Icing Riverside California Provo Town Center Claire’s Provo Utah Newpark Mall Claire’s Newark California Shops at Highland Village Claire’s Highland Village Texas Mall of Abilene (ICG) Icing Abilene Texas 8456 Greece Ridge (ICG) Icing Rochester New York Pinnacle at Turkey Creek Claire’s Knoxville Tennessee Union Town Mall Claire’s UnionTown Pennsylvania Ford City Mall Claire’s Chicago Illinois Northtown Mall Claire’s Blaine Minnesota Bay City Town Center Claire’s Bay City Michigan Eastdale Mall Claire’s Montgomery Alabama Junction Commons Claire’s Park City Utah University Orem (ICG) Icing Orem Utah Woodland Mall (ICG) Icing Grand Rapids Michigan Livingston Mall Claire’s Livingston New Jersey Closing sales were expected to begin as early as July 25 and conclude no later than September 7. Claire’s says it has retained Hilco Merchant Resources to act as its liquidation agent to facilitate the store closings. The filing also identifies additional stores that are expected to be added to the closing list as part of Claire’s agreement. The list includes 1,326 locations that could be closed by October 31 unless Claire’s is unable to find a buyer. Reached for comment, a spokesperson for Claire’s referred Fast Company to Wednesday’s press release but did not comment on a more specific timeline for store closures or whether additional stores will be added to the list. This story is developing…


Category: E-Commerce

 

Latest from this category

06.08All that backlash against Duolingo going AI-first didnt slow its growth: Why DUOL stock is soaring 24% right now
06.08Trump accuses banks of political discrimination. Heres what to know
06.08Hulus days are numbered, and Disney just made it official
06.08The real meaning behind that viral Department of Homeland Security painting
06.08WhatsApp removes 6.8 million accounts linked to scam centers
06.08Samsung is now tracking employee office attendance
06.08Cities clearly have a sidewalk problem. Its less clear who should fix it
06.08McDonalds made a Q2 comeback with the weirdest menu in years
E-Commerce »

All news

07.08How Europe is vying for rare earth independence from China
07.08Bank of England expected to cut interest rates
07.08Bank of England expected to cut interest rates
07.08Trump says he plans to put a 100% tariff on computer chips, likely pushing up cost of electronics
06.08What Makes This Trade Great $DYN and the Re-Entry Move
06.08Hoffman Estates-based Claires, known for piercing millions of teens ears, files for Chapter 11, 2nd time since 2018
06.08Tariff timeline: Major developments in Trump's trade war
06.08All that backlash against Duolingo going AI-first didnt slow its growth: Why DUOL stock is soaring 24% right now
More »
Privacy policy . Copyright . Contact form .