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LLY

NVO

Novo Nordisk A/S (NVO) is experiencing a significant increase in U.S. patients starting on its weight-loss drug, Wegovy, despite facing supply constraints and competition from Eli Lilly & Co. (LLY). Wegovy sales more than doubled in the first quarter, reaching $1.35 billion, although this was below analysts' expectations. Novo Nordisk is doubling its manufacturing investment to $6.4 billion, not including an $11 billion acquisition of factories from Catalent Inc. (CTLT). The company is also expanding Wegovy's market to Japan and expects sales and operating profit to surge by up to 27% and 30%, respectively, this year. However, pricing pressures and regulatory challenges in the U.S. and Denmark are affecting the company.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 9:48 am

AMZN

DIS

KR

WMT

Kroger Co (NYSE:KR) and Walt Disney Co (NYSE:DIS) are reportedly discussing offering Disney+ streaming service to Kroger Boost members at no extra charge. The talks are in early stages, aiming to enhance value for Kroger's grocery delivery program subscribers. This move follows a trend among U.S. retailers like Walmart Inc (NYSE:WMT) and Instacart, who have added streaming services to their membership programs to compete with Amazon.com Inc (NASDAQ:AMZN) and improve customer loyalty. Kroger Boost, launched in 2022, has exceeded expectations, saving members over $115 million in its first year. Disney aims for its streaming segment to be profitable by the end of this fiscal year.

Portfolio Pulse from Shivani Kumaresan

May 02, 2024 | 9:44 am

BTCUSD

Crypto analyst Michaël van de Poppe predicts a slow recovery for Bitcoin, with a potential 5-10% correction ahead, but sees altcoins dominating until Bitcoin reaches a new all-time high. This comes amid mixed analyst views on Bitcoin's future, with its current price at $57,726, reflecting a slight decline but a significant year-to-date increase.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 8:55 am

VRNA

Verona Pharma announced plans to present additional analyses of Phase 3 ENHANCE studies on ensifentrine for COPD at ATS 2024, with a PDUFA target action date of June 26, 2024. The presentations will include eight posters and two oral sessions, highlighting ensifentrine's potential as a first-in-class dual inhibitor of PDE3 and PDE4.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:44 am

ALPMY

PSTX

Astellas and Poseida Therapeutics have entered into a research collaboration and license agreement to develop novel allogeneic cell therapies for oncology, focusing on solid tumors using Poseida's proprietary allogeneic CAR-T platform.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:29 am

KD

Kyndryl's AI-powered open integration platform, Kyndryl Bridge, has surpassed expectations with over 1,200 customers and 190 service offerings, delivering $2B in annual savings and generating over 3 million actionable insights per month.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:28 am

CLVT

Clarivate Plc (NYSE:CLVT) announced the launch of an enhanced Cortellis CMC Intelligence solution with a new post-approval variations module to streamline regulatory tracking for pharmaceutical, biotech, and generics companies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:26 am

SPGI

Pirum and S&P Global Market Intelligence Cappitech have announced an extension of their collaboration to include coverage for the upcoming SEC 10c-1a regulation within their SFTR solution. This development aims to assist clients in meeting their reporting obligations under the new regulation.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:23 am

AZN

SNY

New real-world evidence published in The Lancet indicates that Beyfortus (nirsevimab) led to an 82% reduction in infant RSV hospitalizations during the 2023-2024 season. This adds to the drug's proven high efficacy in preventing medically attended RSV lower respiratory tract disease, as demonstrated in pivotal clinical studies and the HARMONIE phase 3b study.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:12 am

PTEN

Patterson-UTI Energy (PTEN) projects Q2 drilling products results to align with Q1, with adjusted gross profit remaining flat. The company anticipates steady drilling and completion activity in oil and natural gas basins, expecting some operators to add rigs later this year. U.S. Contract Drilling is forecasted to operate 114 rigs in Q2, with a slight decrease in adjusted gross profit per day. Completion Services sees a slight decline in activity, with Q2 revenue expected at $860 million and adjusted gross profit at $170 million. The company is on track with its electric fleet deployment, aiming for 140,000 horsepower of electric frac equipment by mid-2024.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 6:55 am