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Danish biotech Zealand Pharma is targeting the "next generation" of weight loss drugs as competitors pile into a market dominated by heavyweights Novo Nordisk and Eli Lilly.CEO Adam Steensberg told CNBC Thursday that early-stage trials of its experimental obesity injection point to higher-quality weight loss — with reduced muscle loss and fewer side effects — versus traditional GLP-1 treatments. The company is now scouting for a global pharma firm to partner with, he added."Our focus is really what's needed in the 2030s, and it's really about establishing, you can say, the next-generation molecules that are not based on GLP-1s," Steensberg said.Last month, Zealand Pharma announced positive top-line results from a phase 1b trial of its weight-loss drug, a GLP-1/GLP-2 receptor dual agonist c...

Alexander Spatari | Moment | Getty ImagesLONDON — The U.K. economy grew 0.2% in August on a month-on-month basis, flash figures published by the Office for National Statistics showed Friday.Gross domestic product (GDP) came in line with the expectations of economists polled by Reuters, who had forecast growth of 0.2%.Britain's economic growth was up 0.2% in the three months to August, compared with the 0.5% recorded in the three months to July.The U.K.'s dominant services sector showed slight growth of 0.1% in the month to August, while production and construction output rose by 0.5% and 0.4%, respectively.The country's economy flatlined in June and July, after previously recording modest but steady expansion in almost every month this year. Britain emerged from a shallow recession at the ...

Tesla unveils its "Cybercab" on October 10, 2024 in Burbank, California.After a decade of unfulfilled promises about driverless vehicles, Tesla CEO Elon Musk hyped the company's Cybercab concept on Thursday night, showing off a low, silver two-seater with no steering wheels or pedals.Rolling up to the stage in a Cybercab almost an hour after the company's "We, Robot" event was supposed to begin, Musk said the company had 21 of these vehicles, and a total of 50 "autonomous" cars on-location at the Warner Bros. studio in Burbank, California where Tesla hosted its invitation-only event.Musk offered no details about exactly where Tesla plans to produce the cars, but said consumers would be able to buy a Tesla Cybercab for below $30,000. He said the company hopes to be producing the Cybercab be...

Multi-strategy hedge fund D.E. Shaw revealed on Thursday it had amassed a roughly $1 billion stake in industrial gas giant Air Products and Chemicals, the second activist stake at the $71 billion company.D.E. Shaw, one of the largest hedge funds in the world by assets, said in letters made public Thursday that its efforts to engage privately with the company had been largely rebuffed and marked by "an apparent lack of urgency."The investor plans to nominate three directors to the company's board, people familiar with the matter told said. The potential challenge would come alongside another activist fund, Paul Hilal's Mantle Ridge. Mantle Ridge has a similarly sized stake and, like D.E. Shaw, is seeking a clear succession plan for Air Product's CEO, 80-year-old Seifi Ghasemi.Scott Sutton, ...