Insulin icodec

Top 20 biopharmaceutical companies saw a 2% market cap increase in Q3 2024, driven by FDA approvals and strategic alliances. Bristol Myers Squibb led with a 24.6% growth, fueled by Cobenfy's approval and a $3.5bn deal with Prime Medicine. Gilead Sciences and Sanofi also grew significantly due to new drug approvals. Despite some declines, industry recovery is expected, supported by Federal Reserve interest rate cuts.

The biopharmaceutical industry saw a 2% upturn in aggregate market capitalization to $4.3 trillion in Q3 2024, driven by FDA approvals and interest rate cuts. Bristol-Myers Squibb, Gilead Sciences, Sanofi, AbbVie, and Alnylam Pharmaceuticals led with over 10% growth. Novo Nordisk and Merck faced declines due to FDA rejections and sales drops.

Eli Lilly's weekly insulin efsitora shows similar efficacy to daily insulin in type 2 diabetes patients, potentially reducing injection frequency from daily to weekly.