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Liraglutide still a ‘decent market’ despite Novo’s price moves: Siddharth Mittal, Biocon

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Liraglutide still a ‘decent market’ despite Novo’s price moves: Siddharth Mittal, Biocon
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.

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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.

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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.

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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.

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Flagship Earbuds Deliver Top-Tier Noise Cancellation and Sound in Redesigned Package

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Sony WF-1000XM6

Sony’s latest flagship true wireless earbuds, the WF-1000XM6, hit the market Feb. 12, 2026, at $329.99, aiming to reclaim dominance in the premium noise-canceling segment with significant upgrades to active noise cancellation, sound quality, call performance and fit.

The successor to the 2023 WF-1000XM5 introduces a complete redesign, moving away from the glossy, rounded aesthetic to a matte, more ergonomic shape with a pill-like profile and improved stability. Reviewers across outlets like CNET, What Hi-Fi?, SoundGuys and TechRadar have praised the changes, noting better comfort for extended wear despite the larger size. The charging case features a metal hinge for durability and a flat top and bottom for stability, though some users find it bulkier in pockets compared to the XM5.

Sony WF-1000XM6
Sony WF-1000XM6

Sony equipped the WF-1000XM6 with eight microphones — four per earbud — and a new QN3e processor for enhanced ANC processing. The company claims up to 25% better noise reduction than the XM5, achieved through an Adaptive NC Optimizer that analyzes ambient noise and wearing conditions in real time. Independent tests confirm class-leading performance: SoundGuys measured an average 88% reduction in loudness, with peaks over 40dB at low frequencies and 50dB around 2kHz, outperforming rivals like the Technics EAH-AZ100 in many bands. Low-end rumble from engines or air conditioners virtually disappears, while midrange voices see substantial attenuation, though not complete elimination in busy offices.

Transparency mode also improves, offering natural passthrough with minimal hiss. The buds support Speak-to-Chat, which pauses music during conversation, and adaptive sound control that adjusts based on activity.

Audio quality stands out as a highlight. The WF-1000XM6 feature newly designed dynamic drivers with refined tuning for smoother, more detailed reproduction. Reviewers describe a balanced signature with powerful, controlled bass that extends deeper without muddiness, clear mids for vocal presence and sparkling highs without harshness. Support for LDAC enables high-resolution audio up to 24-bit/96kHz on compatible Android devices, while AAC handles iOS well. The Sony Headphones Connect app provides extensive EQ customization, DSEE Extreme upscaling and 360 Reality Audio spatial sound.

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Compared to the WF-1000XM5, the XM6 offers subtle but noticeable refinements: tighter bass control, better instrument separation and a wider soundstage. What Hi-Fi? noted slightly clearer presentation, while Major HiFi highlighted improved midrange clarity. The difference isn’t revolutionary for XM5 owners, but it elevates the experience for newcomers or those upgrading from older models.

Call quality sees major gains with upgraded beamforming mics and wind noise reduction. Testers report crisp, natural voice transmission even in noisy environments, rivaling or surpassing competitors. Battery life holds at 8 hours per charge with ANC on (24 hours total with case), consistent with predecessors, though real-world use varies by volume and features.

The buds earn an IPX4 rating for sweat and splash resistance, support Bluetooth 5.3 with multipoint pairing (two devices) and include Auracast for future broadcast audio. They ship in Black and Platinum Silver, with memory foam tips in multiple sizes for secure fit.

Critics largely agree the WF-1000XM6 rank among 2026’s best premium earbuds. CNET awarded an Editors’ Choice, calling them “pretty hard to beat” in sound, ANC and calls. Tom’s Guide deemed them “everything I could possibly need,” with Mashable praising full, balanced audio and standout ANC. SoundGuys hailed them as Sony’s best yet, with meaningful upgrades across categories.

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Some caveats persist. The higher price — $30 more than the XM5 — draws scrutiny amid fierce competition from Bose QuietComfort Ultra Earbuds, Apple AirPods Pro 3 and emerging challengers. Fit remains polarizing: the larger design suits many but may feel chonky for smaller ears, and some reviewers note inconsistent seal with included tips. What Hi-Fi? mentioned slower settling compared to rivals, while TechRadar found ANC elite but not unmatched in every scenario.

Sony positions the WF-1000XM6 as its most advanced in-ear offering, building on the 1000X legacy that has defined premium ANC since the WF-1000XM3. With the launch timed ahead of major spring releases, early sales and reviews suggest strong demand.

Availability is widespread through Sony’s site, Amazon and major retailers. As the category evolves with Bluetooth LE Audio and spatial formats, the XM6’s robust feature set and performance position them as a top contender for commuters, travelers and audiophiles seeking reference-level wireless listening.

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Mandarin Oriental Residences to open 31-story tower in West Palm Beach

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Mandarin Oriental Residences to open 31-story tower in West Palm Beach

EXCLUSIVE: The seasonal Florida resident is becoming a thing of the past. High-net-worth individuals are now moving entire corporate infrastructures to West Palm Beach, necessitating a new tier of ultra-prime real estate that functions as a year-round primary residence.

“People actually want to live and move to West Palm Beach, especially in this sort of area due to favorable business and maybe political conditions. And we love it,” Great Gulf President of High-Rise Development Neil Vohrah told Fox News Digital.

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“It’s not just about the billionaires themselves, but more importantly, it’s about the businesses that they bring, the companies they bring, the people they inspire and the opportunities that they create,” Cervera Real Estate principal and managing partner Alicia Cervera Lamadrid also told Fox News Digital.

“There’s a lot of wealth coming to this area,” she added. “And, of course, it has to be accommodated.”

‘THIS PLACE WILL WIN’: BUSINESS LEADERS SAY WEST PALM BEACH IS BECOMING AMERICA’S NEXT BIG BOOMTOWN

On Thursday, the real estate juggernauts announced they’re launching the Mandarin Oriental Residences in West Palm Beach — the brand’s first standalone residential property in South Florida. Located on North Flagler Drive in the growing “Billionaire Corridor,” the building will eventually stand 31 stories and house 87 residences with all the familiar luxury a Mandarin Oriental property might offer.

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Aerial view of West Palm Beach facing north

A north-facing aerial view of downtown West Palm Beach, Florida, at sunset. (Getty Images)

The project unveiling comes on the heels of other major brands declaring their entry into the South Florida market, including Mr. C Residences in Boca Raton, Ritz-Carlton Residences in Fort Lauderdale Beach, Delano Residences Miami and Kempinski Residences in Miami Design District.

Catering to a “Wall Street South” demographic, the Mandarin prioritizes extreme privacy, resort-style amenities and includes space for in-home staff and executive offices. Residences range from 2,100 to 6,300 square feet, and feature two- to four-bedroom layouts.

The biggest draw, according to the development and sales leads, could be that the building is just steps away from the booming business-centric downtown.

“This is not found anywhere else in the West Palm Beach area,” Vohrah said. “North End was once a quiet and largely overlooked part of the city, but it now is emerging as the city’s next defining waterfront neighborhood. West Palm Beach is also rapidly evolving into an international luxury hub, driven by wealth and migration, companies relocating, major investments in lifestyle and medical districts, and new luxury brands entering the market.”

These investments are massive in scale: Vanderbilt University is moving forward with a $300 million campus downtown that is projected to generate more than $7 billion in economic impact. Directly adjacent to the new “Billionaire Corridor,” Tenet Healthcare recently announced a $3 billion replacement for the Good Samaritan Medical Center, a brand-new campus designed to cater to the longevity and wellness needs of the C-suite crowd.

A.I. GIANT PALANTIR MOVES ITS HEADQUARTERS TO FLORIDA AS TECH COMPANY EXODUS CONTINUES

“Both Ken Griffin and Steve Ross have come together to promote that corridor between Palm Beach, West Palm Beach and Miami-Dade County as the place where they’re recruiting companies and talent to support the quote-unquote billionaire structure,” Cervera said, referencing the ongoing “Ambition Accelerated” campaign.

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“So what’s happening in West Palm Beach is simply a natural evolution to accommodate the needs and requirements and lifestyles of these billionaires, millionaires that are moving into the area,” she explained.

The demand for West Palm’s waterfront remains largely insulated from rising interest rates and a cooling national housing market, reportedly due to extreme scarcity and a global buyer profile.

“The West Palm Beach market is not slowing down,” Vohrah said. “The North Flagler corridor is largely insulated from national housing trends because… at this level… that combination of irreplaceable waterfront, limited supply and proximity to everything the city offers is what’s continuing to sustain this demand.”

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“When you see the office towers that are full and the prices that people are paying to be in those office towers… all of this synergy that’s being created around there is a long-term play. These are not short-term investments,” Cervera noted. “They have seen that the tipping point is now, and there’s still great opportunity to get in because it’s still early in that cycle, but it is clear that this is something that no one is stopping.”

The “Billionaire Corridor” demographic is increasingly trading sprawling, high-maintenance mansions for vertical “residences in the sky,” as Cervera calls them, just like what’s offered at the Mandarin West Palm.

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“Time is the only thing that you can’t buy, give away, barter, etc. It is finite, we’re all aware of it. And when you buy into a Mandarin Oriental experience, you are saving time. Why are you saving time? Because all of those [lifestyle amenities] are brought into your home.”

“West Palm Beach is different because the boom has been coming for a while,” Vohrah pointed out. “The city and developers have been building up the area for years and now, as more people are migrating to West Palm, the infrastructure and attractive quality is already there. So I think this tower will be recognized as one of the pioneers in this boom era that has taken off post-COVID.”

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Maroomba Airlines wins Onslow Marine Support Base contract

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Maroomba Airlines wins Onslow Marine Support Base contract

Maroomba Airlines has won a contract to fly staff to and from the Onslow Marine Support base in the Pilbara.

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Penn Entertainment beats earnings despite revenue miss, shares rise over 4%

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Penn Entertainment beats earnings despite revenue miss, shares rise over 4%

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Arbe Robotics names Ram Machness as new CEO

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Arbe Robotics names Ram Machness as new CEO

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Concrete Canvas on track to start production at its first factory outside of the UK

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It is hoping to drive orders of £180m over the long-term from a new factory in the Central Asian country of Kyrgyzstan.

Concrete Canvas.

One of Wales’ leading exporters, Concrete Canvas, is progressing a major investment that will see it establishing a new production plant in the Central Asian country of Krgysztan.

The Pontyclun-based business, which specialises in producing a synthetic alternative to concrete – Geosynthetic Cementitious Composite Mats (GCCMs)- last year signed a deal to build its first production plant outside the UK in the Chuy region of northern Kyrgyzstan.

The first production line expected to start operating next year. Over the next ten years the new plant is expected to drive sales of £180m into the central Asian marketplace.

Concrete Canvas’ technology can be installed more rapidly than conventional concrete and require only minimal equipment This will speed up efforts to modernise Kyrgyzstan’s dilapidated Soviet-era irrigation channels and helping to return farmland to productive use.

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READ MORE: We shouldn’t get hung up on firms being Welsh-owned but those with potential for growthREAD MORE: Leekes invests to create two new departments at its flagship Llantrisant store

UK Ambassador to the Kyrgyz Republic, Nic Bowler, and his team, played role in securing a visit from the then Kyrgyz Prime Minister to the Concrete Canvas factory in Pontyclun, which resulted in a long-term £180m export deal being signed.

Mr Bowler, who hails from Crickhowell, said:“Wales is brimming with innovative businesses seeking to connect with the world. Part of what I love about my job is promoting these businesses – and even better, connecting the right people to sign deals.

“Bringing this unique offer together and making it accessible to the Kyrgyz delegation put Wales firmly on their itinerary and ensured Concrete Canvas was their first stop.”

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Peter Brewin, co-founder of Concrete Canvas, said: “The support from Nic Bowler and his team has been instrumental in this venture, which will enable Concrete Canvas and our partners to bring a world-leading British technology to Kyrgyzstan, one of the fastest growing economies in the world.

“Through this joint venture with our partners Integra, UCC and the Kyrgyz government, we are working to conserve the Kyrgyz water resources more effectively, in order to feed and provide renewable hydropower for the people of Kyrgyzstan and across Central Asia. We have found the Kyrgyz government to be an excellent partner.”

GCCMs are a cost-efficient solution for lining irrigation channels to prevent erosion and reduce water loss. The flexible, concrete-filled geotextiles harden after water is applied to create a durable, waterproof surface.

Stephen Doughty MP, Minister for Europe, North America and the Overseas Territories, who is also MP for Cardiff South and Penarth, said:“This government is committed to driving economic growth across the UK, including in Wales, and cutting the cost of living for British people. “This is a great example of how our diplomatic network is delivering for Wales – supporting homegrown talent in accessing new opportunities for trade and investment.”

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This week, Foreign Secretary Yvette Cooper is hosting her counterparts from Kyrgyzstan, Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan in London for talks that are expected to result in a number of deals relating to critical minerals and university partnerships.

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Cava Fourth-Quarter Sales Rise on Higher Prices, New Restaurant Openings

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Cava Fourth-Quarter Sales Rise on Higher Prices, New Restaurant Openings

Cava Group’s CAVA 26.36%increase; green up pointing triangle fourth-quarter sales rose on higher prices and better-than-expected performance at new restaurants. However, foot traffic fell at existing locations.

The Mediterranean fast-casual restaurant chain said its results show it is resonating with increasingly discerning consumers, who have become more choosy with how they spend. The company also forecast that its same-store sales growth will continue this year.

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Butterfly Network earnings beat by $0.03, revenue topped estimates

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Butterfly Network earnings beat by $0.03, revenue topped estimates

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Omda AS (CSAMF) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Sverre Flatby
Chief Executive Officer

Good morning, everyone. I am here with my colleague and CFO, Einar Bonnevie, and we thank you all for joining today.

Let me start clearly. The fourth quarter 2025 was a record quarter, and 2025 was a record year. So, we have interesting topics for you to go through today, and these are the main highlights. We’re going through the fourth quarter highlights, the full year ’25 and of course, AI, which is important. We’ll go through that deeply.

[Audio Gap]

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Status when it comes to M&A. And as you see, we will have a presentation for about 25, 30 minutes, and we will have a Q&A session at the end of the session. So please, if you have any questions, type them in as we go, and then we will attend to them at the end of the presentation.

So, let’s start and talk about the fourth quarter 2025. Reported revenue, NOK 135 million. That is 17% growth compared to the fourth quarter 2024. We are quite happy with that and also happy with the fact that the reported EBITDA in that quarter is NOK 31 million and the reported EBITDA margin is 23%. And even there are some one-offs as usual, this is the reported margin without any adjustments. And then the full year, it didn’t just end on the high note with the fourth quarter. The full year 2025 is also a structural step-up for Omda. NOK 496 million in sales and revenue for 2025, which exceed our guiding for ’25. That is 16% growth compared to 2024. And that also means that the operational baseline, the operating baseline into 2026 is very, very strong based on what has happened in 2025. So, the profitability and

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Ocado boss warns of ‘significant’ job cuts after Kroger pulls out of warehouse deal

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Ocado Group has confirmed it has closed several warehouses in North America

Ocado home delivery van

An Ocado home delivery van(Image: PA)

The chief executive of online grocer Ocado has warned over “significant” redundancies after US retail behemoth Kroger withdrew from its automated warehouse collaborations, sending shares plummeting.

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The company confirmed it has shut down several facilities in North America and cautioned that additional job losses are forthcoming as Ocado continues to “simplify” its operations.

The redundancy warning rattled investors on Thursday morning as shares in Ocado Group plunged 10 per cent at market opening, leaving the stock down two per cent year to date.

Total revenue before adjustment at Ocado Group increased in the year to November 2025, rising 12 per cent to £1.4bn.

The retailer, which trades on the FTSE-250, invested over £90m in technology as it embarks on a “very significant phase of investment in our robotics and automation capabilities,” chief executive Tim Steiner said, as reported by City AM.

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Operating expenses at the online grocer rose three per cent to £1.6bn, and the group’s adjusted pre-tax loss narrowed marginally, decreasing seven per cent to £353m.

Ocado Group stated it aims to reduce costs by £150m and workforce reductions could reach as many as 1,000.

Ocado Group’s chief executive stated further staff losses were imminent as the grocer winds down a series of automated warehouse collaborations with US retail giant Kroger and Canadian grocer Sobeys. Ocado intensified its technology transformation last year when it unveiled plans to market its AI-powered warehouse technology internationally, which enables retailers to process and complete online grocery orders using AI.

Ocado had secured an exclusivity agreement with retail giant Kroger for the deployment of this technology in the US, but the American company cancelled three warehouses and abandoned plans for a fourth.

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Sobeys withdrew from a warehouse utilising Ocado technology last month, causing the retailer’s shares to tumble nearly ten per cent.

The majority of the retailer’s exclusivity agreements with global partners have now lapsed, which Ocado’s chief executive says presents an opportunity for expansion.

Steiner said: “With exclusivity arrangements concluded in most markets, we have greater flexibility to pursue new partnerships and growth opportunities.

“We are well set to re-enter multiple markets with an evolved technology platform, designed to be more flexible, offering a wider range of solutions to help retailers to run more efficiently.”

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Announcing today’s results, Steiner said its investment in new technology is “largely completed,” with the retailer “simplifying” its operating model to finance its expansion into technology overseas.

He said: “These changes will also reflect the lower structural cost base that we have signalled over recent years. Regrettably, this means a significant number of roles will no longer be required.”

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