1502 ET – Crude futures settle lower as the market looks to Thursday’s talks between the U.S. and Iran. Estimates of the risk premium baked into the price go anywhere from $4 to $10 a barrel, Phil Flynn of the Price Futures Group says in a note. “I would argue that it’s fairly subdued,” with President Trump’s record of trying to do the least damage to oil facilities and the market, he says, citing last year’s attacks on Iranian nuclear facilities and this year’s ouster of Venezuela’s leader. A blockade of the Strait of Hormuz could create “real supply headaches,” but “there’s still talks in Geneva and while it’s unlikely that the tensions will go away any sign of a peace deal could see an evaporation of $7 to $10 in oil very quickly.” WTI and Brent fall 1% to $65.63 and $70.77 a barrel, respectively.(anthony.harrup@wsj.com)

Oil Retreats With U.S.-Iran Tensions As Key Driver

1555 GMT – Oil prices retreat as traders assess risks to supply in the Middle East ahead of a third round of nuclear talks between the U.S. and Iran. In afternoon trading, Brent crude slips 0.4% to $70.85 a barrel, while WTI is down 0.5% to $65.50 a barrel after rising earlier in the session. “Most of the recent price increase is due to a widening risk premium,” analysts at Commerzbank say. “The price is thus well above the fair price of oil, which could be explained by fundamental factors alone.” On Friday, a barrel deliverable in one month cost $3.50 more than oil scheduled for delivery in seven months. Compared with 12-month delivery, the premium widened to more than $5. “The last time the time spreads were higher was in June 2025, when the 12-day war between Israel and Iran took place,” the analysts say. (giulia.petroni@wsj.com)

As competition intensifies in the global GLP-1 market, the spotlight has shifted to how generic players are positioning themselves amid pricing pressures from innovators. In an interaction with ET Now, Siddharth Mittal,CEO & MD, Biocon shared his outlook on the company’s liraglutide launch in the US and Europe, the evolving competitive landscape, and the roadmap for semaglutide.

On the potential impact of Novo Nordisk’s decision to cut prices for semaglutide, Mittal suggested that the broader market dynamics have already undergone significant change over the past few years.

“See, let us step back. A couple of years back, liraglutide was almost $5 billion in global sales for Novo Nordisk. Since then, it has become a $1 billion product for Novo Nordisk, and patients have moved to Ozempic and Mounjaro. So there has, of course, been a degrowth that we have already seen. But there are patients who continue to take liraglutide even today, and that is where a generic liraglutide will bring down the cost for these patients and the payers. We definitely do not expect market growth in terms of volumes, but in terms of generic penetration, it should be a fairly decent market for everyone. Today, there are very limited players in the US who have commercialised generic liraglutide, and we are very well placed and are going to launch the product very soon in the market,” he said.

While acknowledging that the product is no longer the multibillion-dollar opportunity it once was, Mittal emphasised that limited competition in the generic space still makes it attractive.

Beyond the US, Europe remains a key focus area. The company has already rolled out liraglutide in several European markets and plans to deepen its presence.

“We have already launched the product in a few markets in Europe and will continue to launch it in many more European countries in the coming quarter. Apart from the US and Europe, we think there is a big opportunity in emerging markets where we have already done the filing and our file is under review. In countries, especially tender-based markets in Latin America or the Middle East, the cost of treatment is prohibitively high for branded drugs. If a lower-cost option with a generic drug is available, we expect volumes to expand. Next year, we expect approvals from some emerging market countries, and we are very optimistic that this will become an important growth driver for us,” he noted.
In Europe, the early traction has been encouraging. The company has partnered with Zentiva for multiple markets while also going direct in select geographies such as the Netherlands.“We have launched the product in many markets through our partner Zentiva and have also taken it directly to a few markets such as the Netherlands. The Netherlands is a tender market, and we have secured a few tenders there. In just one market such as the Netherlands, we have almost 40% market share. We will be taking this product to many other markets directly. After the acquisition of the biosimilars business from Viatris, we have a strong presence in select European markets such as Germany. So far, we have seen a very encouraging uptick. In our December quarterly results, we had 24% growth in our generic segment and the majority of that growth came from the liraglutide launch in Europe,” Mittal said.

He added that several competitors who were earlier working on liraglutide have shifted their focus to semaglutide after facing regulatory hurdles, resulting in a narrower competitive field.

On whether Novo could extend price cuts for semaglutide to other markets, Mittal remained cautious.

“That is possible, and we have already seen that in India where prices have come down. There is head-to-head competition between Mounjaro and Ozempic, and that is impacting pricing decisions. But it is for Novo to comment on what action they will take in reaction to what Lilly is doing,” he said.

Looking ahead, semaglutide remains a longer-term play. The company has initiated filings in emerging markets and select developed markets.

“We started filing our semaglutide in emerging markets and markets such as Canada, Brazil, and Saudi Arabia a few quarters back. We expect the review cycle to be between 18 and 36 months. In the best case, we expect approval in 2027, followed by a launch. In India, we have received clinical trial approval for Phase III but have not yet started the trial. We are assessing whether to complete the trial or wait for approval in one of the other countries and then seek a clinical waiver,” Mittal explained.

He also clarified that India is not an immediate commercial focus, particularly after the divestment of the domestic formulations business to Eris Lifesciences two years ago.

“India is going to be a competitive market. Pricing is already quite competitive, and we do not commercialise any drug in India directly. Our focus right now is more on exports and emerging markets,” he said.

As the GLP-1 space evolves with pricing resets and shifting patient preferences, the strategy appears clear: target residual demand in legacy molecules like liraglutide while steadily building the pipeline for semaglutide in markets where timelines and pricing offer room for sustainable growth.

In a move that has stunned the animation community and sent shockwaves through the Adult Swim fanbase, creators Michael Cusack and Zach Hadel officially announced on February 25 and 26, 2026, that their cult-hit series Smiling Friends will conclude after its third season. This decision comes as a massive reversal of earlier industry reports, as the show had been formally renewed for fourth and fifth seasons in June 2025.

The “Not a Bit” Announcement

The news broke via a synchronized video and audio message released across Adult Swim’s social media and YouTube channels. Zach Hadel, known to fans as the voice of Charlie, addressed the audience with uncharacteristic sobriety.

“I’m gonna cut right to the chase,” Hadel stated in the announcement. “This is not a bit, this is not a joke. Michael and I are here to announce that ‘Smiling Friends’ will be ending after Season 3 is done. We know that’s super disappointing to hear, but we’ve put 110% into this, and we want to go out on top.”

The creators emphasized that while the network and their representatives were eager for the show to continue—with some joking about reaching “Season 80″—the decision to pull the plug was entirely their own.

Why Now? Burnout and Artistic Integrity

The primary driver behind the sudden conclusion is creative burnout. Cusack and Hadel, who are famously hands-on with every aspect of the show—from writing and voice acting to character design and final animation reviews—explained that the intense workload has taken its toll.

“To be perfectly honest, after we finished Season 3, Zach and I just both had the same feeling where we felt pretty burnt out after putting years and years into this,” Cusack explained. The duo expressed a deep-seated fear of the show becoming “slop” or overstaying its welcome, citing a desire to avoid the “zombie” status often attributed to long-running animated sitcoms.

The “Lost” Episodes: A Final Encore

While the main run of Season 3 concluded in late 2025, fans have one final date to mark on their calendars. The creators confirmed that two unreleased “straggler” episodes, produced during the Season 3 cycle but held back for polish, will premiere on April 12, 2026, at 11 p.m. ET on Adult Swim.

Hadel clarified that these are not intended to be a “grand, serialized finale” in the traditional sense, but rather a “fond encore” that rounds out the Season 3 order to a total of 10 episodes. These episodes are expected to be added to the Max streaming library the following day.

Scrapping the Future: The Status of Seasons 4 and 5

The most shocking aspect for many was the definitive cancellation of the previously announced Seasons 4 and 5. In June 2025, The Hollywood Reporter had confirmed a two-season pickup for the show following its massive success on Max. However, the creators have officially scrapped these renewals.

Adult Swim leadership reportedly supported the decision, telling the creators: “If you’re not feeling like making a cartoon, we’re not going to stop you. Go have a break. Either come back or don’t.”

Legacy of a Surreal Masterpiece

Smiling Friends debuted as an unannounced April Fools’ pilot in 2020 and grew into a global phenomenon. Its blend of grotesque, elastic animation, deadpan dialogue, and surprisingly grounded takes on mental health made it a flagship for the “Post-Rick and Morty” era of Adult Swim.

What’s Next for Cusack and Hadel?

The creators were quick to reassure fans that this is not the end of their partnership. Both are already looking toward new, unannounced projects that will allow them to “refresh” their creative palettes. Cusack likened the move to Paul McCartney forming the band Wings after the breakup of The Beatles—an opportunity to start again with a clean slate.

While the “Smiling Friends” company may be closing its doors for now, the door remains “cracked” for potential one-off specials or a movie in the distant future, should the creators feel the spark again. For now, however, Pim and Charlie’s mission to make the world smile concludes on their own terms, leaving behind a “perfect little box set” of surrealist comedy.

Apple is expected to unveil the iPhone 17e, a new entry-level model in its flagship lineup, at a special event on March 4, 2026, marking the company’s first major hardware launch of the year and introducing an affordable 2026 iPhone positioned between the standard iPhone 17 and the previous-generation iPhone 16e.

The iPhone 17e—also referred to in leaks as the successor to the iPhone 16e—aims to broaden Apple’s reach in the midrange segment while maintaining premium features and seamless integration with the iOS 19 ecosystem. Industry analysts and supply chain reports indicate the device will carry a starting price around $599, undercutting the standard iPhone 17 expected to launch in September 2026 at $799 or higher.

Leaked specifications, compiled from Weibo tipsters, Bloomberg’s Mark Gurman, and analyst Ming-Chi Kuo, point to a 6.1-inch OLED display with Dynamic Island (replacing the notch), powered by the A19 chip manufactured on a 3-nanometer process by TSMC. The device is rumored to feature 8GB of RAM—matching the iPhone 17 series—to support advanced Apple Intelligence features, including on-device generative AI tools introduced in iOS 18 and expanded in iOS 19.

Camera upgrades are anticipated to include a 48-megapixel main sensor with a new variable aperture system for better low-light performance and depth control, paired with a 12-megapixel ultra-wide lens. The front-facing camera is expected to remain at 12 megapixels but benefit from improved processing for selfies and video calls. The iPhone 17e is also rumored to include the Action Button, USB-C port, and a redesigned aluminum frame with enhanced durability.

Battery life is projected to improve significantly over the iPhone 16e, thanks to efficiency gains from the A19 chip and a larger internal battery. Leaks suggest up to 20-22 hours of video playback, positioning the model as a strong contender for users prioritizing longevity without the premium price of Pro variants.

Color options are expected to include classic tones—Black, White, Blue, Green, and Pink—with a potential deep red or burgundy finish tested internally for the 2026 lineup. The device will ship with iOS 19, featuring expanded Apple Intelligence capabilities, improved Siri conversational abilities, and enhanced privacy controls.

The March 4 event, dubbed “Spring Loaded” or a similar branding, is anticipated to focus on accessibility and affordability. Apple is expected to highlight the iPhone 17e alongside software updates for existing devices, potential new color variants for iPhone 16 models, and expanded Apple Intelligence availability in additional languages and regions. Some analysts speculate a low-cost iPad or Mac accessory could join the lineup, though the iPhone 17e remains the centerpiece.

The timing reflects Apple’s strategy to refresh its entry-level offerings mid-cycle, capitalizing on demand for 5G-capable, AI-ready devices at lower price points. The iPhone 17e is positioned to compete with Android midrange flagships from Samsung, Google, and Xiaomi, offering a balance of performance, ecosystem integration, and longevity through extended software support—likely seven years of major iOS updates.

Pre-order details have not been officially confirmed, but Apple typically opens reservations shortly after the event, with devices shipping within one to two weeks. Carriers and retailers, including Best Buy, Amazon, and Samsung’s competitors, are expected to offer trade-in credits, carrier deals, and bundled accessories to drive early adoption.

Analysts project the iPhone 17e could account for 15-20% of total iPhone 17-series shipments in calendar 2026, helping Apple maintain market share in price-sensitive regions like India, Southeast Asia, and Latin America. The model also addresses demand for a compact, powerful iPhone in markets where larger screens are less popular.

While official details remain under wraps—Apple rarely comments on unreleased products—leaks suggest the iPhone 17e will emphasize practical upgrades over flashy gimmicks. The smaller Dynamic Island, faster chip, improved camera, and longer battery life aim to deliver a refined experience at an accessible price, reinforcing Apple’s strategy of tiered offerings across the lineup.

As March 4 approaches, anticipation is building for Apple’s first major hardware announcement of 2026. The iPhone 17e launch could set the tone for the year, bridging the gap between entry-level and premium devices while expanding Apple Intelligence access to a broader audience.

Advertisement