And so, another working week will soon draw to a close. Not a moment too soon, yes? This is, you may recall, our treasured signal to daydream about weekend plans. Our agenda, for the most part, is rather modest. Beyond taking in another installment in our “Let’s-see-them-before-they-die” concert series, we hope to hang with our short person, catch up on our reading, and then enjoy a few comforting naps. And what about you? Summer is nearly here, so this may be a good time to plan a getaway. You could enjoy the great outdoors or make time for someone special. Even more exciting, you could place a bet on which fearless leader comes out on top following the upcoming summit. Well, whatever you do, have a grand time. But be safe. Enjoy, and see you soon …
Novo Nordisk (NVO) is looking at cutting anywhere from 2,000 to 3,000 jobs as the company grapples with “uncertain and unpredictable” markets caused by increased competition and pressured pricing for its key insulin products, according to Borsen. The company has hired a consulting firm to assist with a savings plan, which will go beyond the long-term goal of average growth of 5 percent in operating profits. Novo executives will present the cost-cutting plan when second-quarter results are announced in August, when negotiations with trade unions can begin.
A handful of large Allergan (AGN) shareholders are privately discussing bringing back former chief executive David Pyott as chairman, according to Business Insider. The move comes as two large hedge funds — Appaloosa Management and Senator Investment Group — criticized Allergan chief executive Brent Saunders and his board for “token measures” to revive the stock, and called for splitting the CEO and chairman roles. At the same time, Carl Icahn recently took a small position in the drug maker.
A personal note to our scribe re the ‘see them before they die’ link.
May I observe that it is good that you are taking this opportunity. For my part, I had no idea that his gent was ever alive or performing in the first place.
(Note to self – must get out more … )
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