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J. Edward Moreno

Novo drops price for introductory GLP-1 doses, undercutting its competitors

Novo Nordisk slashed the cash-pay price for starting doses of its diabetes and weight-loss shots, Ozempic and Wegovy, in a bold move to boost sales after it’s lost ground in the GLP-1 market to Eli Lilly and compounders.

Starting Monday, the introductory doses for self-pay patients will be priced at $199 a month, the Danish pharmaceutical giant said. That's about the same price as the copycat versions sold by Hims & Hers and others.

After the first two months of treatment, a monthly dose of Novo’s shots goes up to $349 a month, compared to the $499 monthly price tag the shots previously had. Eli Lilly’s cash-pay price for a low dose of its weight-loss shot Zepbound is $349 a month, rising to $499 for higher doses.

The shots are available online via Novo’s direct-to-consumer pharmacy, NovoCare, as well as through its partners, which include Costco and telehealth companies like Ro and Weight Watchers. Novo and Lilly have embraced DTC sales channels in the past year as a way to cut out middlemen and reduce prices for patients not using insurance.

Novo, which was the first to bring GLP-1s to market, has been outpaced in sales by Lilly this year. It’s been competing with Lilly’s more effective drugs, as well as cheaper compounded versions made by companies like Hims.

Both Lilly and Novo reached a deal with the Trump administration to cut the price of their blockbuster drugs starting next year.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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