Business
Pfizer Advances Once-Daily Weight Loss Pill After Early Study Success
Pfizer is advancing a once-daily version of its weight loss medication, danuglipron, following encouraging findings from an ongoing early-stage study. The pharmaceutical company announced on Thursday that it has identified a formulation that shows a favorable safety profile and effective bodily response.
The company plans to carry out more early-stage trials in the latter half of this year to determine the optimal dosage, with results expected by the first quarter of next year. These results will be pivotal for the registration enabling studies required for regulatory approval.
Dr. Mikael Dolsten, Pfizer’s outgoing Chief Scientific Officer, expressed optimism about the drug’s potential, stating, “Danuglipron has demonstrated good efficacy in a twice-daily formulation, and we believe a once-daily formulation has the potential to have a competitive profile in the oral GLP-1 space.” Notably, the study found no liver safety issues with the once-daily formulations.
Pfizer is among several pharmaceutical companies racing to capture a share of the market for GLP-1 agonists, a class of drugs highly sought after for weight loss and diabetes management. Analysts predict this market could be worth approximately $100 billion by the end of the decade.
Despite this potential, Pfizer has faced challenges breaking into the GLP-1 space. In December, the company discontinued a twice-daily version of danuglipron due to patient tolerance issues in a mid-stage study. Investor confidence was further dampened when Pfizer scrapped another once-daily pill in June 2023 after patients showed elevated liver enzymes. These setbacks, alongside the decline of its Covid business, have impacted Pfizer’s stock performance.
Nonetheless, Pfizer continues to develop other experimental obesity drugs and maintains a robust pipeline of three clinical and several pre-clinical candidates. “Obesity is a key therapeutic area for Pfizer,” Dolsten emphasized.
Competitors Novo Nordisk and Eli Lilly have seen rising demand for their injectable GLP-1 drugs, despite high costs and limited insurance coverage. These companies, along with Pfizer, are striving to develop oral versions that are more convenient for patients and easier to produce, which could help alleviate supply shortages in the U.S.
Pfizer has also indicated it may pursue acquisitions or partnerships with smaller obesity drugmakers. CEO Albert Bourla mentioned in January that while acquiring a late-stage obesity treatment is unlikely, the company is exploring potential licensing deals or earlier-stage weight loss drugs as part of its strategic focus on cost management.
Business
Travelers Brace for Hurricane Milton: Airlines, Theme Parks, and Cruise Lines Adjust Plans
With Hurricane Milton rapidly approaching Florida’s west coast, travel plans across the region are being significantly disrupted. The Category 4 storm, carrying winds of up to 145 mph, has triggered widespread cancellations, route changes, and closures as airlines, theme parks, and cruise lines prepare for its anticipated landfall on Wednesday.
Florida Governor Ron DeSantis declared a state of emergency across more than 50 counties, with the National Oceanic and Atmospheric Administration (NOAA) warning that Hurricane Milton is expected to hit Florida’s west coast with dangerous force.
Airports are taking precautionary measures, with Tampa International Airport suspending operations early on Tuesday, stating that it will “reopen when safe to do so.” Orlando International Airport, a major hub, announced it will close by 8 a.m. on Wednesday. Southwest Airlines, which accounts for a significant portion of flights in and out of Orlando, has already canceled 402 flights for Wednesday. FlightAware reports that over 85% of flights at Orlando International Airport have been grounded for the day, with many more cancellations at Tampa and Southwest Florida International airports.
Theme parks are also responding to the storm. Busch Gardens Tampa will be closed from Tuesday through Thursday, while SeaWorld Orlando remains open for the time being but continues to monitor Hurricane Milton’s path closely.
Cruise lines have been proactive as well, with Carnival informing passengers that ports in Jacksonville, Tampa, and Miami are likely to close. As a result, several routes and destinations have been altered to steer clear of the storm’s impact.
As Hurricane Milton nears, travelers and local residents are urged to stay informed and adjust plans accordingly, with further disruptions expected in the coming days.
Business
States Sue TikTok, Alleging Impact on Teen Mental Health Crisis
A coalition of 14 U.S. states has filed lawsuits against TikTok, accusing the social media giant of exacerbating a mental health crisis among teenagers. The bipartisan group of attorneys general claims the platform’s addictive features target young users, misleading the public about the safety of prolonged use, and contributing to negative mental health outcomes.
In the lawsuit, filed in New York, the attorneys general argue that TikTok intentionally designed features that drive compulsive use, negatively affecting millions of teens. New York Attorney General Letitia James stated that TikTok’s influence has led to tragic incidents, including the death of a 15-year-old boy in Manhattan, who died while “subway surfing” after watching similar videos on TikTok.
James emphasized that many teenagers are struggling with increased anxiety, sadness, and depression, attributing some of these effects to the app’s alerts, disappearing videos, and beauty filters. These features, she said, encourage constant checking of the platform and contribute to issues surrounding body image.
TikTok, which is already grappling with legislation that could ban it from the U.S. unless its parent company, Bytedance, sells the app, called the lawsuit “disappointing.” The platform contends that it has introduced tools to limit screen time and content exposure, but the lawsuit claims these tools are ineffective.
In addition to the mental health accusations, the lawsuit also points to TikTok’s virtual currency as running an unlicensed money transmission business in Washington D.C. The plaintiffs seek financial penalties and a court order to halt TikTok’s practices that allegedly harm teenagers.
TikTok has responded by defending its efforts to protect young users, stating, “We strongly disagree with these claims,” and reaffirming their commitment to improve the platform.
Business
Rolls-Royce Unveils Exclusive NYC Showroom for Ultra-Wealthy Clients
Rolls-Royce has launched its first U.S. “Private Office” in New York City’s Meatpacking District, offering a VIP design studio experience for its most affluent clients. This highly exclusive showroom marks a significant step in the luxury carmaker’s strategy to enhance profits by focusing on high-end, personalized vehicles rather than increasing production.
Last year, Rolls-Royce manufactured just 6,032 cars—less than half of Ferrari’s output—but its custom designs continue to drive profit growth for parent company BMW. The Private Office takes car personalization to an elite level, where select clients can work closely with designers to customize every aspect of their vehicle, from paint colors to fabrics, woods, and even intricate lighting schemes. Rolls-Royce CEO Chris Brownridge emphasized that customer requests can be as unique as matching the car’s exterior to the color of a pet’s eyes or incorporating mother-of-pearl from a private collection.
This bespoke design service, known as the “Bespoke” program, allows clients to add hundreds of thousands of dollars to the base price of a Rolls-Royce. For instance, a Phantom priced at just under $500,000 could exceed $1 million after personalization.
Unlike traditional dealerships, the Private Office is a discreet and luxurious space, designed more like a billionaire’s Manhattan loft than a car showroom. The entrance is unmarked, with clients entering through a secure elevator. Inside, the studio features a sleek black kitchen, an outdoor terrace, and a collection of classic vinyl records, creating an intimate environment for clients to explore materials such as paint samples, leather, and metals.
This Manhattan showroom brings the expertise of Rolls-Royce’s Goodwood factory directly to clients, accommodating the increasingly intricate requests of the brand’s top-tier clientele.
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