Shares in Novo Nordisk, the Danish company that manufactures Ozempic and Wegovy, plunged 18% after its chief executive warned that price cuts would be "painful" for the firm. According to BBC Business, the company anticipates profits and sales to fall by as much as 13%.
Chief Executive Maziar Mike Doustdar described the pricing pressures as "unprecedented" and "painful" on Wednesday, BBC Business reported. The company attributed the situation to a deal made with US President Donald Trump, alongside rival Eli Lilly, to lower the cost of weight-loss drugs for Americans. In recent months, Novo Nordisk has faced turmoil, announcing thousands of job cuts amidst warnings of increasing competition.
In other business news, Target and other major Minnesota businesses are facing rising discontent from staff, as workers fear the Trump administration's immigration crackdown puts them at risk on the job, according to BBC Business. Employees are reportedly pushing firms to provide clearer guidance about how to respond if Immigration and Customs Enforcement (ICE) officers arrive at their worksites and asking them to limit agents' access to stores and parking lots.
Meanwhile, Nike is under investigation by the US government over claims of discrimination against white workers, BBC Business reported. The Equal Employment Opportunity Commission (EEOC) has demanded company records going back to 2018, including the use of race and ethnicity data, and whether such information influenced executive pay. Court documents show the EEOC is examining claims that Nike engaged "in a pattern or practice of disparate treatment against white employees, applicants, and training program participants," according to BBC Business. Nike stated it was "committed to fair and lawful employment practices" and called the inquiry "a surprising and unusual step."
Separately, in Australia, a psychiatrist who treated Joel Cauchi, the man behind the fatal stabbing rampage at Bondi Junction, will be referred to health investigators, BBC World reported. Cauchi, who was first diagnosed with schizophrenia in his teens, was unmedicated and homeless when he stabbed 16 people inside Westfield Bondi Junction in 2024, killing six. The New South Wales coroner said Dr. Andrea Boros-Lavack had provided Cauchi "exemplary" care over a long period but failed to heed warnings from family that he may be relapsing, years before the attack.
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