- Ring The Bell
- Posts
- đź’‰ These New Players Enter The Weight-Loss Drug Scene
đź’‰ These New Players Enter The Weight-Loss Drug Scene
Eli Lilly and Novo Nordisk get hit as competition enters market, Netflix takes on YouTube and other competitors and more
You're receiving this email because you're subscribed to Ring the Bell from Benzinga. To manage your subscription, click the link at the bottom of this email.
Happy Friday Zingernation! Tesla’s Cybertruck ousted Ford’s F-150 in May, becoming the top-selling truck in the country. Some people love the truck, while others hate the futuristic design. But the truck has one group of furry fans that can’t keep their hands off of it.
—Aaron Bry & Nic Chahine
Plus, check out the telehealth provider offering men’s health treatments to the public at a lower price point than its competitors.
MARKET SNAPSHOT
Yesterday: Another sell-off with all major indices closing in the red. On Wednesday the Dow outperformed the $SPY and $QQQs, but yesterday was a role reversal. The Dow closed down more than 1%, lagging on the day.
On Our Radar: A few more earnings reports rolling in this morning, with companies like American Express, Comerica, Huntington and more set to report. Trade on, Zingers!
TOP STORY
Weight-Loss Duopoly Breaks As Eli Lilly, Novo Plummet; 'Market Won't Be Dominated By Just 2 Players'
So: GLP-1 market leaders Eli Lilly and Company and Novo Nordisk A/S faced a significant selloff on Thursday, as new weight-loss drugs from rival pharmaceutical companies began threatening the dominance of their flagship products, Zepbound and Wegovy.
Basically: Shares of Eli Lilly plummeted by 6.3%, marking their worst daily performance since March 2021. In the last two sessions, they have dropped by over 10%, registering the worst two-day downside since March 2020. Similarly, shares of Dutch pharmaceutical giant Novo Nordisk A/S fell 4%.
Briefly: “This week is a prime (early) example of why biotech risk needs to be managed and why a Magnificent 7 approach to biotech doesn't work,” Maurits Pot, founder and CEO at Tema ETFs, exclusively told Benzinga. Here are the other names entering the space.
PRESENTED BY MANGO RX
Erectile dysfunction negatively impacts hundreds of millions of men around the globe. While it's very treatable, many people don’t seek help. Embarrassment is a big reason. Lack of access is another.
That is changing thanks to companies like Mangoceuticals, Inc. (NASDAQ: MGRX), which goes by MangoRX. The company’s focused on developing, marketing and selling a variety of men’s health and wellness products in the area of ED, hair growth, weight loss and hormone replacement therapies, leveraging a telemedicine platform to discreetly treat its growing base of patients.
Its ED pill, Mango, is fast-acting, and the company says very effective. Mango hits the bloodstream in as little as ten minutes and lasts for up to four hours. That gives it a leg up over Viagra, which takes up to 60 minutes to work and Cialis which takes about 30 minutes. Treatments start at $12.50 a tablet, making it an affordable option. To learn more about MangoRX’s ED drugs and telemedicine platform click here.
FIVE ZINGERS
The Chip Dip: Semiconductor stocks like NVIDIA and AMD got hammered this week. Here’s why, and when experts are considering buying the dip.
Unrelenting Bull: One of tech’s top analyst is not worried, still bullish over the next 3-5 years, despite the recent pullback.
Checkin’ Out The Old Digs: Tucker Carlson made his return to Fox News Thursday night, joining the network to break down the RNC.
Better Safe Than Sorry: After a string of recent hacks, cybersecurity plays are starting to heat up. Here are the hottest names in the space.
Taking Profits: Despite a bullish outlook, Cathie Wood’s ARK Invest is selling shares of Tesla. Here’s why.
ONE FOR THE ROAD
What Happened: During its second-quarter earnings call, Netflix co-CEO Ted Sarandos responded to a question from Morgan Stanley’s Ben Swinburne about the company’s strategy to compete with YouTube for more passive home entertainment engagement.
So: Sarandos said that Netflix and YouTube together make up about 50% of all streaming to TVs in the U.S. citing Nielsen data from June.
Quoted: “So our two services — us and YouTube represent about 50% of all streaming to the TV in the U.S. and we use the U.S. only because that’s where we have the data. So really what we’re focused on here is focusing ourselves on that other 80% of total TV time that isn’t going to either us or YouTube,” he said. Here’s how Netflix plans to capture more market share from its competitors.
PRESENTED BY BENZINGA
Matt Maley, the Wall Street veteran who predicted the 2020 market crash and the Bitcoin boom, is finally sharing his top stock pick for the year ahead.
It’s NOT a tech giant.
It’s a company most investors have never heard of...
…but it could make you a fortune.
BEFORE YOU GO
Were you forwarded this email? Click here to subscribe.
And be sure to check out our other newsletters:
Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.
Cannabis Daily: A must-read daily briefing for cannabis investors, operators, and enthusiasts. Join our list of industry veterans to jump start your morning. Subscribe here.
Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.
Mining Weekly: Get an insider's edge with news, analysis, and commentary on what’s shaping the mining and commodities industry that powers the global economy. Subscribe here.