Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- Eli Lilly (LLY) said that a late-stage study showed its new injected medication retatrutide helped obese patients lose up to 24% of their body weight in 68 weeks, with an average reduction in knee pain of around 63% at the same dosage level.
The results exceeded expectations. Analysts had been expecting average weight loss of around 20% to 23%, with at least a 50% reduction in knee pain, according to Bloomberg.
Lilly has been testing the drug for the treatment of overweight and obese patients with knee osteoarthritis.
“We are encouraged by the results of TRIUMPH-4, which highlight the powerful effect of retatrutide, a first-in-class triple agonist, on body weight, pain and physical function,” said Kenneth Custer, president of Lilly’s cardiometabolic health unit, in a statement.
“With seven additional Phase 3 readouts expected in 2026, we believe retatrutide could become an important option for patients with significant weight loss needs and certain complications, including knee osteoarthritis,” Custer added.
Lilly markets the popular weight-loss drug Zepbound, also known as Mounjaro, which competes with Novo Nordisk’s (NVO) Wegovy and Ozempic.
- Treasury Secretary Scott Bessent has proposed changing the focus of the Financial Stability Oversight Council to one of deregulation rather than increased regulation.
According to CNBC, Bessent, who chairs the council, is set to release a letter that states, “The Council will work with and support member agencies in considering whether aspects of the U.S. financial regulatory framework impose undue burdens and negatively impact economic growth, thereby undermining financial stability.”
The FSOC was established in the aftermath of the 2008 financial crisis to monitor and address systemic risks in the financial sector, CNBC noted.
- Swedish private equity group EQT (EQBBF) is planning to distribute 10,000 humanoid robots developed by one of its startup investments, 1X Technologies, to other companies in its portfolio to help with tasks in such sectors as manufacturing and nursing home care.
Under the plan, the robots will be leased or purchased by the companies, with deployments expected to begin next year. Financial terms were not disclosed, according to Bloomberg.
“This can provide companies with a real unfair advantage to get their hands on it early,” EQT Partner Ted Persson told Bloomberg.
1X Technologies also counts OpenAI (OPENAI) and Tiger Global as investors, Bloomberg noted.
Other companies engaged in developing humanoid robots include Tesla (TSLA) and Hyundai’s Boston Dynamics.