The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. Apotex's U.S. segment is a weak spot in its public market debut, as increased market competition and an operational plant pause weigh on revenue. Excluding last year's generic revlimid windfall, underlying U.S. sales slipped 8.6% to C$362.9 million, with the drop worsening to a steep 48.5% on a reported basis. Apotex cites fresh competition following lost exclusivities on key drugs including leukemia treatment nilotinib, alongside a temporary halt on U.S.-bound eye drop shipments for Richmond Hill plant remediation. CEO Jeff Watson says on the earnings call that the company expects to be ready for FDA re-inspection by the end of the calendar year. The U.S. performance contrasts with Canada's 11.5% sales rise. Shares are down 4.2% to C$35.13. (adriano.marchese@wsj.com)
1442 ET - Apotex shrugs off concerns over potential U.S. tariffs on generic drugs, pointing to its massive Canadian manufacturing setup as a shield. CEO Jeff Watson says on the earnings call that Apotex benefits from "significant North American manufacturing footprint with the majority of our U.S. farm products produced in Canada," adding that management is actively lobbying trade officials on a "North American onshoring initiative that we share with both the U.S. and Canadian governments." Executive Christine Batur says there is a "unique recognition of Canada as part of the solution," giving the company a "good potential advantage" over global rivals. Apotex is also expanding its U.S. footprint through a new partnership with Halo Pharmaceutical to fund sterile injectable capacity in New Jersey. Shares are down 4.7% to C$35.32. (adriano.marchese@wsj.com)
1240 ET - Novo Nordisk's search for small deals to bolster its drug pipeline looks sensible, Berenberg analysts say. The Danish drugmaker's CEO seems bullish on the prospects for the obesity-pill market, but Novo Nordisk might need deals to add more oral medicines to maintain its lead, according to Berenberg. Novo Nordisk needs to diversify from semaglutide--the key ingredient in its blockbuster drugs Ozempic and Wegovy for diabetes and obesity--and its strong balance sheet allows it to do so, the analysts say. "As such, small molecule-focused business development seems likely," the analysts add. Berenberg cuts its recommendation on Novo Nordisk's stock to hold from buy, trimming its target price to 305 Danish kroner from 325 kroner. Shares close 2.5% lower at 299.50 kroner. (adria.calatayud@wsj.com)
0202 ET - Novo Nordisk will face hurdles in 2H as rival Eli Lilly steps up competition in the obesity-pill market, Berenberg analysts say in a research note. U.S. approval for Lilly's rival Foundayo pill in diabetes seems imminent, which should heat up competition in 2H, the analysts say. Berenberg cuts its recommendation on Novo Nordisk to hold from buy, trimming its target price to 305 Danish kroner from 325 kroner. Shares in the Danish drugmaker already reflect higher expectations for its Wegovy weight-loss pill, the analysts say. Investors will likely want confirmation that Novo Nordisk can retain its leadership in obesity oral medicines while expanding in the injection market going forward, they add. Novo Nordisk shares closed at 307.20 kroner Tuesday. They are down 5.55% since the start of 2026.
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