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Wire

CMS Proposes Permanent Framework for Medicare Drug Price Negotiation Program

The Centers for Medicare & Medicaid Services on Friday proposed a rule to establish a permanent regulatory framework for the Medicare Drug Price Negotiation Program beginning with the 2029 price applicability year, transitioning from implementation through annual guidance to codified regulations.The proposal would govern future negotiations and renegotiations for high-cost, single-source drugs covered under Medicare Part D and Part B. CMS said it will select up to 20 additional negotiation-eligible drugs for the fourth cycle of negotiations and future cycles of the program.The rule also proposes a temporary pricing floor for certain small biotech drugs in 2029 and 2030.CMS said it has negotiated prices for 25 high-expenditure drugs during the program's first two years. Maximum fair prices for the first 10 selected drugs took effect Jan. 1, 2026.Price: $236.56, Change: $-4.31, Percent Change: -1.79%

$ABBV$JNJ$LLY$MRK$NVO
Sectors

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 1.4%.The iShares Biotechnology ETF (IBB) climbed 3%.In corporate news, Adial Pharmaceuticals (ADIL) shares surged 45% after it said Thursday it has acquired Azora Therapeutics, a biopharmaceutical company developing treatments for serious inflammatory diseases.Novartis (NVS) shares gained 4.2% after the company said a phase 1/2 trial of its experimental treatment del-brax met both primary and key secondary endpoints in people with facioscapulohumeral muscular dystrophy.Novo Nordisk (NVO) won approval from UK regulators for its Wegovy pill, a daily oral version of semaglutide, for weight management in adults with obesity or overweight and a weight-related condition. Novo shares rose 2.8%.Some employers in the US intend to drop coverage of GLP-1 medications for weight loss in 2027 amid the increasing popularity of Novo Nordisk's Wegovy and Eli Lilly's (LLY) Zepbound and Foundayo, Reuters reported, citing the Business Group on Health, a policy research group for large employers. Lilly shares were up 2.9%.

$ADIL$LLY$NVO$NVS
Sectors

Sector Update: Healthcare Stocks Rise Thursday Afternoon

Healthcare stocks rose Thursday afternoon, with the NYSE Healthcare Index adding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.5%.The iShares Biotechnology ETF (IBB) climbed 1.9%.In corporate news, Novartis (NVS) shares gained 2.9% after the company said a phase 1/2 trial of its experimental treatment del-brax met both primary and key secondary endpoints in people with facioscapulohumeral muscular dystrophy.Novo Nordisk (NVO) won approval from UK regulators for its Wegovy pill, a daily oral version of semaglutide, for weight management in adults with obesity or overweight and a weight-related condition. Novo shares rose 1.2%.Some employers in the US intend to drop coverage of GLP-1 medications for weight loss in 2027 amid the increasing popularity of Novo Nordisk's Wegovy and Eli Lilly's (LLY) Zepbound and Foundayo, Reuters reported, citing the Business Group on Health, a policy research group for large employers. Lilly shares were up 1.5%.

$LLY$NVO$NVS
Wire

Novo Nordisk Reports Cybersecurity Incident Involving IT System Access

Novo Nordisk (NVO) said Thursday it identified an information technology security incident involving unauthorized access to a limited number of internal systems.The company has launched an investigation with external cybersecurity experts and is working with relevant authorities.Novo Nordisk has also taken certain internal systems offline as a precaution and is restoring them in a controlled manner. Core business operations remain unaffected and continue to run normally, according to the company.Preliminary findings show that certain non-public data, including personal information, were copied externally without authorization.Price: $43.30, Change: $+0.48, Percent Change: +1.13%

$NVO
Wire

Novo Nordisk Wins UK Approval for Wegovy Weight-Loss Pill

Novo Nordisk (NVO) won approval from UK regulators for its Wegovy pill, a daily oral version of semaglutide, for weight management in adults with obesity or overweight and a weight-related condition.The approval was based on data from a Phase 3 trial, Novo Nordisk said Thursday in a statement. Patients receiving semaglutide tablets achieved average weight loss of 13.6% after 64 weeks, compared with 2.4% for those receiving placebo, alongside lifestyle modifications, the company said.The UK is the first country in Europe to approve the medicine, which Novo Nordisk expects to make available via private prescription within weeks, the company said. The approval follows similar decisions in the US and the United Arab Emirates..Price: $43.41, Change: $+0.59, Percent Change: +1.39%

$NVO
Wire

Street Color: Novo Nordisk's Wegovy Gets UK Approval for Obesity Treatment

Street Color: Novo Nordisk's Wegovy Gets UK Approval for Obesity Treatment

$NVO
Wire

Market Chatter: Some US Employers Plan to Drop GLP-1 Coverage for Obesity in 2027

Some employers in the US intend to drop coverage of GLP-1 medications for weight loss in 2027 amid the increasing popularity of Novo Nordisk's (NVO) Wegovy and Eli Lilly's (LLY) Zepbound and Foundayo, Reuters reported Thursday, citing the Business Group on Health, a policy research group for large employers.Around 10% of employers who now cover GLP-1 drugs for weight-loss said they are planning to drop that coverage next year, the report said, citing the policy research group.Novo Nordisk and Eli Lilly didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $43.51, Change: $+0.72, Percent Change: +1.68%

$LLY$NVO
Wire

Some US Employers Plan to Drop GLP-1 Coverage for Obesity in 2027, Reuters Reports

Some US Employers Plan to Drop GLP-1 Coverage for Obesity in 2027, Reuters Reports

$LLY$NVO
Asia Markets

European Equities Traded in the US as American Depositary Receipts Start Week Higher in Monday Trading

European equities traded in the US as American depositary receipts kicked off the week higher late Monday morning, lifting 0.82% to 1,874.41 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which rose 7% and 4.5% respectively. They were followed by accommodations booking company trivago (TRVG) and telecommunications company Nokia (NOK), which increased 4.4% and 1.7% respectively.The decliners from continental Europe were led by pharmaceutical company Novo Nordisk (NVO) and biopharmaceutical company Cellectis (CLLS), which fell 2.9% and 2.3% respectively. They were followed by pharmaceutical company Sanofi (SNY) and biopharmaceutical company Grifols (GRFS), which were down 2% each.The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and NuCana (NCNA), which advanced 4.5% and 3.3% respectively. They were followed by oil and gas company BP (BP) and biopharmaceutical company Amarin (AMRN), which were up 1.7% and 1.6% respectively.The decliners from the UK and Ireland were led by biotech company Autolus Therapeutics (AUTL) and biopharmaceutical company Mereo BioPharma Group (MREO), which dropped 4.2% and 2.4% respectively. They were followed by utilities company National Grid (NGG) and pharmaceutical company GSK (GSK), which lost 2% and 1.2% respectively.

$AMRN$AUTL$BDRX$BP$CLLS$EVAX$GRFS$GSK$MREO$NCNA$NGG$NOK$NVO$SNY$SQNS$TRVG
Wire

Veru Enters Supply Agreement With Novo Nordisk for Obesity Study; Shares Surge

Veru (VERU) said Thursday in a regulatory filing that it entered a clinical supply agreement with Novo Nordisk (NVO) to support its phase 2b PLATEAU study evaluating enobosarm in combination with Novo's Wegovy in older adults with obesity undergoing weight loss treatment.Under the agreement, Novo Nordisk will provide Wegovy free of charge for the study, while Veru will sponsor and conduct the trial and share clinical study updates and insights related to obesity and weight management research, the filing shows.Veru said it retains global development and commercialization rights to enobosarm, while Novo Nordisk received a right of first negotiation if Veru seeks to develop, commercialize or license enobosarm in combination with Novo Nordisk GLP-1 products in the future.Shares of Veru rose 155% in Thursday trading.Price: $5.52, Change: $+3.27, Percent Change: +145.47%

$NVO$VERU
Sectors

Sector Update: Healthcare Stocks Decline Late Afternoon

Healthcare stocks were lower late Tuesday afternoon, with the NYSE Healthcare Index shedding 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.7%.The iShares Biotechnology ETF (IBB) rose 0.5%.In corporate news, Cigna (CI) shares fell 1.6% after Barclays downgraded the stock to equalweight from overweight, and lowered its price target to $304 from $310.Brazil on Tuesday cleared pharmaceutical company EMS to sell the country's first generic version of Novo Nordisk's (NVO) Ozempic shot, Bloomberg reported. EMS plans to sell the generic version, called Ozivy, for 30% less than Ozempic, and it expects it to hit the market within 30 days, the report said. Novo shares were down 1.5%.Eli Lilly (LLY) said it has struck deals to buy three vaccine developers in all-cash deals with a combined value of up to $3.83 billion to build its infectious disease portfolio. Lilly shares rose 0.5%.CG Oncology (CGON) shares fell 3.8% after the firm said that Ambaw Bellete, its president and chief operating officer, will exit the company, effective June 30.

$CGON$CI$LLY$NVO
Sectors

Sector Update: Healthcare Stocks Decline Tuesday Afternoon

Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index shedding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.5%.The iShares Biotechnology ETF (IBB) rose 0.5%.In corporate news, Brazil on Tuesday cleared pharmaceutical company EMS to sell the country's first generic version of Novo Nordisk's (NVO) Ozempic shot, Bloomberg reported. EMS plans to sell the generic version, called Ozivy, for 30% less than Ozempic, and it expects it to hit the market within 30 days, the report said. Novo shares were down 1.4%.Eli Lilly (LLY) said it has struck deals to buy three vaccine developers in all-cash deals with a combined value of up to $3.83 billion to build its infectious disease portfolio. Shares rose 1.3%.CG Oncology (CGON) shares declined 2.9% after the firm said that Ambaw Bellete, its president and chief operating officer, will exit the company, effective June 30.BioRestorative Therapies (BRTX) shares jumped 18% after the firm said it has completed dosing in its phase 2 trial assessing BRTX-100 to treat chronic lumbar disc disease.

$BRTX$CGON$LLY$NVO
Sectors

Sector Update: Healthcare

Healthcare stocks declined Tuesday afternoon, with the NYSE Healthcare Index shedding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.5%.The iShares Biotechnology ETF (IBB) rose 0.5%.In corporate news, Brazil on Tuesday cleared pharmaceutical company EMS to sell the country's first generic version of Novo Nordisk's (NVO) Ozempic shot, Bloomberg reported. EMS plans to sell the generic version, called Ozivy, for 30% less than Ozempic, and it expects it to hit the market within 30 days, the report said. Novo shares were down 1.4%.

$NVO
Asia Markets

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.73% to 1,891.94 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and telecommunications company Nokia (NOK), which rose 6.4% and 4.8% respectively. They were followed by lenders Banco Bilbao Vizcaya Argentaria (BBVA) and Banco Santander (SAN), which were up 4.4% and 3.8% respectively.The decliners from continental Europe were led by pharmaceutical company Ascendis Pharma (ASND) and petroleum refiner Equinor (EQNR), which fell 3% and 2% respectively. They were followed by internet advertising firm Criteo (CRTO) and pharmaceutical company Novo Nordisk (NVO), which were down 1.1% and 0.2% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and pharmaceutical company Silence Therapeutics (SLN), which climbed 16% and 6.3% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which advanced 4.5% and 3.1% respectively.The decliners from the UK and Ireland were led by oil and gas company BP (BP) and biopharmaceutical company NuCana (NCNA), which dropped 5% and 2.4% respectively. They were followed by biopharmaceutical company Amarin (AMRN) and communications company WPP (WPP), which lost 1.6% and 1.5% respectively.

$AMRN$ASND$BBVA$BDRX$BP$CRTO$EQNR$MREO$NCNA$NOK$NVO$SAN$SLN$TRIB$TRVG$WPP
Wire

Market Chatter: Generic Copy of Novo Nordisk's Ozempic Shot Approved in Brazil

Brazil on Tuesday cleared pharmaceutical company EMS to sell the country's first generic version of Novo Nordisk's (NVO) Ozempic shot, Bloomberg reported.EMS plans to sell the generic version, called Ozivy, for 30% less than Ozempic, and it expects it to hit the market within 30 days, according to the report.Novo Nordisk did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $44.92, Change: $-0.04, Percent Change: -0.09%

$NVO
Wire

Generic Copy of Novo Nordisk's Ozempic Shot Approved by Brazil, Bloomberg Reports

Generic Copy of Novo Nordisk's Ozempic Shot Approved by Brazil, Bloomberg Reports

$NVO
Sectors

Sector Update: Healthcare Stocks Gain Late Afternoon

Healthcare stocks rose late Friday afternoon, with the NYSE Healthcare Index advancing 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.3%.The iShares Biotechnology ETF (IBB) was fractionally lower.In corporate news, Eli Lilly (LLY) shares rose 2.5% after it said Friday that a new analysis from two phase 3 trials showed that its GLP-1 pill Foundayo at all doses tested was linked to "clinically significant" weight loss in adults 65 years old and older with obesity or overweight.Novo Nordisk's (NVO) Ozempic and Eli Lilly's Mounjaro are being linked to better cancer outcomes in four new studies, The Wall Street Journal reported. The weight-loss and diabetes drugs suggest they could reduce tumor progression, lower overall chance of death, and avert the risk of developing breast cancer, the report said. Novo shares added 1%.Merck (MRK) said Friday the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of Keytruda, in combination with Padcev, to treat a type of bladder cancer. Merck shares jumped 5.6%.Gilead Sciences (GILD) shares gained 2.9%. The company has received approval from the US Food and Drug Administration for Hepcludex to treat chronic hepatitis delta virus infection in adults without advanced liver scarring, or with compensated cirrhosis, the FDA said Friday.

$GILD$LLY$MRK$NVO
Sectors

Sector Update: Healthcare Stocks Gain Friday Afternoon

Healthcare stocks rose Friday afternoon, with the NYSE Healthcare Index advancing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.2%.The iShares Biotechnology ETF (IBB) increased 0.2%.In corporate news, Merck (MRK) said Friday the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of Keytruda, in combination with Padcev, to treat a type of bladder cancer. Merck shares jumped 5%.Eli Lilly (LLY) shares rose 2.2% after it said Friday that a new analysis from two phase 3 trials showed that its GLP-1 pill Foundayo at all doses tested was linked to "clinically significant" weight loss in adults 65 years old and older with obesity or overweight.Novo Nordisk's (NVO) Ozempic and Eli Lilly's Mounjaro are being linked to better cancer outcomes in four new studies, The Wall Street Journal reported. The weight-loss and diabetes drugs suggest they could reduce tumor progression, lower overall chance of death, and avert the risk of developing breast cancer, the report said. Novo shares added 1%.

$LLY$MRK$NVO
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Buoyed by Robust Corporate Earnings Season

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Friday's premarket activity, buoyed by a robust corporate earnings season.US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 0.2% before the start of regular trading.The final University of Michigan consumer sentiment reading for May and the leading indicators data for April will be released at 10 am ET.Kansas City Fed's services reading for May is slated for an 11 am ET release.Federal Reserve Governor Christopher Waller speaks on Friday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.03%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.5%, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Workday (WDAY) shares were up more than 7% in premarket activity after the company's fiscal Q1 results overnight surpassed market expectations.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Rocket Lab (RKLB) stock was up more than 2% before the opening bell after the company received a $90 million US Space Force contract to design, build, and operate two satellites hosting the Heimdall space domain awareness payload.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.1% lower.Novo Nordisk (NVO) stock was down more than 1% premarket, after an almost similar fall in the previous session. The European Medicines Agency said it has recommended extending Wegovy's marketing authorization to include its oral formulation for weight management.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.UBS (UBS) shares were down more than 1% pre-bell. The company said Thursday it expects the voluntary review of Credit Suisse's World War II operations to conclude by the end of the year.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.5%. The iShares US Consumer Staples ETF (IYK) was down 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased 0.4%.Yum China Holdings (YUMC) shares were down more than 1% pre-bell, continuing from a 1.3% decline at the prior close. The company said its KFC light-meal business, KPRO, now operates more than 300 sites in China.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.TotalEnergies (TTE) stock was down more than 1% before the opening bell after Bloomberg reported the company is considering selling a 50% stake in a portfolio of European renewable energy assets.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1.2% to $97.49 per barrel on the New York Mercantile Exchange. Natural gas was down 1.2% at $2.98 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.7%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for May retreated by 0.5% to $4,521.20 an ounce on the Comex. Silver futures declined by 0.8% to $76.09 an ounce. SPDR Gold Shares (GLD) was down by 0.4%, and the iShares Silver Trust (SLV) fell by 1.3%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$QQQ$RKLB$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$USO$VDC$VHT$VIS$WDAY$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YUMC
Asia Markets

European Equities Traded in the US as American Depositary Receipts Little Changed in Thursday Trading

European equities traded in the US as American depositary receipts were tracking marginally lower late Thursday morning to 1,863.63 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and oil and gas company Eni (E), which rose 3.7% each. They were followed by medical device maker EDAP TMS (EDAP) and petroleum reformer Equinor (EQNR), which were up 1.3% and 0.7% respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and pharmaceutical company Novo Nordisk (NVO), which decreased 2.6% each. They were followed by software firm SAP (SAP) and biopharmaceutical company DBV Technologies (DBVT), which were down 2.1% and 1% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and utilities company National Grid (NGG), which advanced 5.4% and 1.4% respectively. They were followed by tobacco company British American Tobacco (BTI) and biotech company Autolus Therapeutics (AUTL), which increased 1.3% and 0.9% respectively.The decliners from the UK and Ireland were led by software company Endava (DAVA) and telecommunications operator Vodafone Group (VOD), which lost 15.5% and 2.1% respectively. They were followed by biopharmaceutical company NuCana (NCNA) and lender Lloyds Banking Group (LYG), which were off 2% and 1.2% respectively.

$AKTX$AUTL$BTI$DAVA$DBVT$E$EDAP$EQNR$LYG$NCNA$NGG$NOK$NVO$SAP$SQNS$VOD

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