European Stocks Close Little Changed in Monday Trading; Novo Nordisk Slashes Wegovy Prices in China
The European stock markets closed little changed in Monday trading as The Stoxx Europe gained 0.11%, Germany's DAX was up 0.10%, the FTSE was off 0.04%, France's CAC rose 0.10%, and the Swiss Market Index edged 0.02% lower.
In Spain, the annual rate of the Export Price Index of Industrial Products declined 1.3 points to -1.4% in November, compared with October, according to the Spanish Statistical Institute. Meanwhile, the annual rate of the Import Price Index was down 0.7 points to -3.2%, compared with the previous month.
And in corporate news, Novo Nordisk (NVO) has cut the listing prices of its obesity drug Wegovy by about half in some Chinese provinces, Bloomberg reported Monday, citing Chinese media outlet Yicai.
The report said the list prices for the two highest dosages were reduced to 987.48 yuan ($141) and 1,284.36 yuan, respectively, citing drug-procurement documents for southwestern Chinese provinces Yunnan and Sichuan.
Novo Nordisk's patent on semaglutide, the active ingredient in both Wegovy and Ozempic, is set to expire in China in March, paving the way for local companies to launch cheaper generics, according to Bloomberg.
"We can confirm that we are adjusting our prices of Wegovy in China," a Novo Nordisk representative said in an emailed statement to MT Newswires. "We believe this pricing adjustment in China will further help alleviate the treatment burden for patients and improve their quality of life."
Bloomberg said prices on the online marketplace operated by Chinese e-commerce platform JD.com were also lowered.
Shares of the Danish pharmaceutical company fell 1.5% in Copenhagen.
European plane manufacturer Airbus has received orders for 55 A320 planes from two Chinese carriers, Bloomberg reported Monday, citing company filings to the Shanghai bourse.
China's Juneyao Airlines is planning to buy 25 of the planes for $4.1 billion, and Spring Airlines said it will buy 30 of the planes, also for $4.1 billion, according to the report.
Airbus has been increasing its plane sales in China, in part due to a final assembly line in Tianjin for its A320 planes, according to the report.
Airbus didn't immediately respond to a request for comment from MT Newswires
Shares of Airbus Group edged 0.02% lower in Paris.
Irish pharmaceutical services provider Uniphar has signed an exclusive, expanded access distribution agreement with Zevra Therapeutics, the latter said Monday.
The agreement will enable reimbursed named patient supply of Miplyffa, Zevra's treatment for Niemann-Pick disease type C, in certain territories outside of Europe. Miplyffa, or arimoclomol, is approved in the US and under review by the European Medicines Agency, Zevra said.
Shares of Uniphar declined 0.3% in London.
Mereo BioPharma said Monday that two phase 3 trials of setrusumab failed to meet primary endpoints of reducing annualized clinical fracture rates in patients with osteogenesis imperfecta.
The UK-based biopharmaceutical company said neither study showed a statistically significant reduction in fracture rates compared with placebo or bisphosphonates.
Both trials met secondary endpoints of improvements in bone mineral density, Mereo said.
Newsmax said Monday that its Newsmax Broadcasting unit has signed multiyear distribution deals in Europe and the eastern Mediterranean region.
The media company said the agreements include partnerships with France's Free TV, HOT in Israel, and Primetel in Cyprus.
Newsmax said it has also signed a brand license agreement to launch Ukrainian language "Newsmax Ukraine" in Ukraine.
Source : Mtnewswires.com
