CNBC's "Fast Money" Down Day For Drugmakers… And Intel Jumps On Deal Rumors 1/17/25
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Jan 17, 2025 Dr. Kavita Patel, a medical contributor at NBC News and MSNBC, dives into the recent turmoil in the pharmaceutical industry, especially as Novo Nordisk's shares hit an 18-month low due to new Medicare price negotiations. She discusses the implications for the weight loss drug market and investor concerns about healthcare under changing political conditions. On another note, she speculates about Intel's stock surge driven by M&A rumors and what potential deals could mean for the tech sector.
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Drugmaker Stock Drop
- Novo Nordisk stock dropped to 18-month lows after CMS announced drug price negotiations.
- Eli Lilly shares also fell due to pricing pressures in the GLP-1 category.
Weight Loss Drug Race
- Novo Nordisk's trial for a higher Wegovi dose showed less weight loss than Eli Lilly's Mounjaro.
- This, along with pricing pressures, impacts the obesity drug market.
Long on Lilly
- Karen Finerman is long on Eli Lilly despite recent pressure.
- She believes in the drug's potential and broader coverage possibilities.