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Real-time News
On November 12th, according to the Wall Street Journal, under months of tariff threats and pressure from stricter pricing rules, several pharmaceutical company CEOs went to the White House to announce a drug price agreement in exchange for regulatory easing. However, for Eli Lilly (LLY.N) and Novo Nordisk (NVO.N), the considerations were quite different. This deal was not just a simple "ceasefire," but a passport to market expansion. By lowering the prices of drugs like Wegovy and Zepbound, they gained Medicare coverage for obesity treatment—meaning millions of new patients. They built a market moat by "trading price for volume": latecomers will no longer be able to replicate the early high-priced launch of GLP-1 weight-loss drugs. For competitors like Pfizer, this means entering a market with thinner profit margins and extremely high manufacturing costs. The core of the agreement is Medicare; although the details are still unclear, the overall logic is clear: pharmaceutical companies provide net price discounts on drugs, and the government expands reimbursement coverage for the elderly. At first glance, the discounts seem quite substantial. Eli Lilly and Novo Nordisk will offer GLP-1 drugs under Medicare for $245 per month, with patients paying only $50 in co-payments starting as early as April 2026. This is significantly lower than the previous prices that often exceeded thousands of dollars. In exchange, the two companies can nearly double the number of people covered. Bernstein estimates that this Medicare agreement opens up a new market of approximately 30 million people, with an annual sales potential of $27 billion.On Wednesday, November 12, the Hang Seng Index closed up 226.32 points, or 0.85%, at 26,922.73; the Hang Seng Tech Index closed up 9.6 points, or 0.16%, at 5,933.99; the H-share Index closed up 77.5 points, or 0.82%, at 9,538.99; and the Red Chip Index closed up 51.05 points, or 1.19%, at 4,342.7.UK government bond yields rose across the board by 2 to 3 basis points after the market opened.According to the latest data from the Fujairah Oil Industrial Zone in the UAE, as of the week ending November 12, total refined product inventories at the port of Fujairah were 21.181 million barrels, an increase of 3.204 million barrels from the previous week. Specifically, light distillate inventories increased by 1.074 million barrels to 7.877 million barrels, middle distillate inventories decreased by 222,000 barrels to 3.012 million barrels, and heavy residual fuel oil inventories increased by 2.352 million barrels to 11.012 million barrels.On Wednesday, November 12th, the German DAX 30 index opened 150.48 points higher, or 0.62%, at 24246.73 points; the UK FTSE 100 index opened 16.80 points higher, or 0.17%, at 9916.40 points; and the French CAC 40 index opened 29.73 points higher, or 0.36%, at 8185.96 points. (European...) The Stoxx 50 index opened 27.00 points higher, or 0.47%, at 5752.70 on Wednesday, November 12; the Spanish IBEX 35 index opened 45.26 points higher, or 0.28%, at 16444.36 on Wednesday, November 12; and the Italian FTSE MIB index opened 171.12 points higher, or 0.39%, at 44610.00 on Wednesday, November 12.
