On Tuesday, Novo Nordisk A/S (ADR) (NYSE:NVO)’s shares declined -0.88% to $54.30.
Novo Nordisk A/S (ADR) (NVO) declared that the SCALE Obesity and Prediabetes three-year extension study on Saxenda has met its primary endpoint. The study was conducted in adults who were obese or were overweight with co morbidities and had prediabetes at baseline.
The randomized, blinded, three-year extension study showed that continued treatment with Saxenda in combination with a low-calorie diet and raised physical activity led to a delay in onset of type II diabetes contrast to placebo (in combination with diet and exercise). The time-to-onset of type II diabetes was 2.6 times longer in patients undergoing treatment with Saxenda contrast to those receiving placebo. Moreover, the risk of developing the disease was cut down by about 80% in the Saxenda arm.
Additionally, Novo Nordisk revealed data related to weight loss of patients in the SCALE Obesity and Prediabetes three-year extension study. At 160 weeks, on an average Saxenda led to a weight loss of 6.1% from baseline, contrast to only 1.8% for placebo, both in combination with a low-calorie diet and raised physical activity. Notably, 24.3% of the patients lost over 10% of their body weight under treatment with Saxenda contrast to 9.4% of those in the placebo arm.
According to the American Medical Association, obesity is a disease that requires long-term administration and is associated with various serious health consequences counting type II diabetes. In this scenario, results from the three-year extension study demonstrating Saxenda’s efficacy in delaying the occurrence and reducing the risk of type II diabetes are encouraging.
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Biopharmaceuticals.
Olin Corporation (NYSE:OLN)’s shares dropped -2.31% to $25.00.
The Dow Chemical Company (DOW) and Olin Corporation (OLN) declared recently the achievement of a regulatory milestone in the projected transaction involving a noteworthy portion of Dow’s chlorine value chain and Olin Corporation, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.
As formerly declared on March 27, 2015, Dow and Olin reached a definitive agreement under which Dow will separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares.
Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. The company operates through three segments: Chlor Alkali Products, Chemical Distribution, and Winchester. The Chlor Alkali Products segment provides chlorine/caustic soda that is used in pulp and paper processing, chemical manufacturing, and water purification, in addition to in the manufacture of vinyl chloride, bleach, swimming pool chemicals, and urethane chemicals; sodium hypochlorite for use in household cleaners, laundry bleaching, swimming pool sanitizers, semiconductors, water treatment, textile, pulp and paper, and food processing; and hydrogen used in fuel source, hydrogen peroxide, and hydrochloric acid.
At the end of Tuesday’s trade, Deere & Company (NYSE:DE)‘s shares surged 0.74% to $96.28.
John Deere will continue as a title sponsor of professional golf through 2023 as a result of a seven-year extension declared by Deere & Company (DE), the PGA TOUR and the John Deere Classic. The agreement comprises sponsorship of the John Deere Classic and multiple designations for John Deere in the TOUR’s Official Marketing Partner program.
In addition, Field noted, hundreds of community organizations have benefited from millions of dollars in contributions made through the John Deere Classic and the tournament has had substantial economic impact on the Quad City community where it is held.
The agreement was declared during a news conference at Deere & Company World Headquarters two days before tournament play starts at the 2015 John Deere Classic.
PGA TOUR Deputy Commissioner Jay Monahan joined Field to declare the new deal that runs through 2023, taking effect when the current six-year agreement expires at the conclusion of 2016. Financial details were not revealed.
Deere & Company, together with its auxiliaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company’s Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, counting large, medium, and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; and tillage, seeding, and application equipment, counting sprayers, nutrient administration, and soil preparation machinery.
Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU), ended its Tuesday’s trading session with -0.62% loss, and closed at $7.18.
MUFG declared that it ranks among DiversityInc’s 2015 Top 10 U.S. Regional Companies for Diversity, ranking sixth on the “Regional Companies” specialty list. MUFG typically outperforms larger banks on DiversityInc’slist of the Top 50 Companies for Diversity.
The Top 10 Regional Companies for Diversity list recognizes companies for inclusive practices in the following four areas:
1) CEO/Leadership Commitment, counting accountability, personal communications, and visibility
2) Equitable talent development, counting Employee Resource Groups (ERGs)
3) Pipeline, counting workforce demographics and recruitment
4) Supplier diversity, counting working with small businesses in disadvantaged areas and other underrepresented and underserved groups
Mitsubishi UFJ Financial Group, Inc., through its auxiliaries, provides financial services in Japan and internationally. Its Integrated Retail Banking Business Group segment offers a range of banking products and services, counting financial consulting services; deposit products comprising non-interest-bearing deposit accounts; asset administration and administration services; trust products; and other investment products. This segment also provides insurance products, such as annuity, single premium whole life, flat-rate premium whole life, medical, cancer, and nursing-care insurance; testamentary trust services; housing loans; and Internet banking services, in addition to is involved in credit card business.
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