Novo Nordisk is lowering growth expectations for its diabetes and obesity treatments, with quarter net profit meeting analyst expectations. The company cited prescription trends, competition, and pricing pressure for the decision. Shares have fallen by over 50% this year due to trial results, competition, and policy challenges in the U.S.

Novo Nordisk launched a rival bid for American obesity biotech firm Metsera, surpassing Pfizer’s offer. Pfizer filed a second lawsuit against Novo and Metsera, claiming the bid was anticompetitive. Novo responded by increasing its bid to $10 billion and stated that the deal complied with laws and was in the best interest of patients.

Read more at CNBC

1. Apple announces plans to invest $430 billion in US manufacturing and technology over the next five years. The tech giant also aims to create 20,000 new jobs across the country.

2. Facebook reports a 56% increase in quarterly revenue, reaching $29 billion. The social media company also adds 47 million new daily active users, bringing the total to 1.93 billion.

3. Tesla shares surge 12% after the electric vehicle maker posts record profits of $1.1 billion in the second quarter. The company delivers 200,000 vehicles during the period, exceeding Wall Street expectations.: Wegovy, Ozempic maker Novo Nordisk Q3 earnings