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CNBC's "Fast Money"

What the Expanding Reach of Weight-Loss Drugs Means For Health Care 10/11/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 11 October 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Shares of medical device makers like Davita and Baxter International plunged after Novo Nordisk said its GLP-1 drug Ozempic had some positive results in trials against kidney failure. So what could the impact be of a potential do-it-all drug? We surround the trade with Dr. Kavita Patel and Mizuho’s Jared Holz. Fast Money Disclaimer

Transcript

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0:00.0

Live in the Nasdaq Marketside in the heart of New York City's Times Square, this is Fast

0:05.8

Money. Here's what's on tap tonight. Deep impact, the growing power of obesity drugs

0:10.2

on full display today, Lily and Novo Nordic soaring while the dialysis, diabetes and

0:15.0

device makers, Paul Hart, a deep dive on how the street is now viewing these drugs as

0:19.4

game changers for the future of health care. Plus, unhappy feet, investors not sliding

0:25.7

on chairs of Birkensock and its first day of trading the stock closing nearly $6

0:29.6

below its offer price. We'll take a look at why so many of the recent IPOs have hit

0:33.8

the street like two left feet. And later, inside gold and silver's bright and shiny

0:38.4

week, breaking down the banks ahead of earning season, and is more turbulence in the forecast

0:42.5

for Delta, we've got the options action there. I'm Melissa Lee, coming to you live from

0:46.0

Studio B at the Nasdaq on the desk tonight, Tim Seymour, Karen Feinerman, Diodami and Julie

0:50.0

Beale. We start off with the monster implications of a potential do-it-all drug, chairs of Novo

0:55.2

Nordic soaring over 6% today, closing just shy of its all-time high. The move coming

1:00.2

after early tests suggest its diabetes and weight loss drug ozempic could be used to treat

1:04.7

kidney failure as well. The new sending shares of med tech companies like Davida, Fersenius

1:09.7

and Baxter International plunging, Baxter in fact hitting its lowest level in nearly

1:14.1

eight years. And this could be just the start ozempic and drugs like it could find uses

1:18.9

in treating alcohol and drug addiction, Alzheimer's, even a lowering blood pressure just to name

1:23.4

a few. So what could such a potentially far-reaching treatment mean for the health care space? We

1:29.4

always say the pendulum swings too far. So you wonder right now if we've swung too far in terms

1:34.6

of it being the miracle drug guy. In terms of names like you mentioned a few, I'll throw

1:40.2

another one, Medtronic, it swung way too far. I mean this is one of the great companies. I mean

...

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