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Its been a week of wins for Eli Lillys weight-loss drugs. In the company’s second quarter earnings report on Thursday, it reported that sales of Mounjaro, its type-2 diabetes medication often used for weight loss, reached nearly $5.2 billion in revenue, up 68% from the same quarter last year and exceeding analyst estimates of $4.7 billion. Similarly, its weight-loss medication Zepbound reached $3.4 billion in sales, up 172% year-over-year and exceeding estimates of $3 billion. According to Eli Lilly, the company’s market share for the class of drugs that includes Mounjaro and Zepbound increased to 57% during the quarter. Additionally, Mounjaro demonstrated its ability to protect cardiovascular health in trial results announced July 31. And the company also on Thursday announced its oral GLP-1, orforglipron, helped patients lose an average of 27.3 pounds in a phase three clinical trial. These successes, along with high demand for its weight-loss drugs, led Eli Lilly to increase its 2025 guidance. Still, investors are wary of the 148-year-old pharmaceutical company. Eli Lilly (NYSE: LLY) stock fell over 14% today, dropping to its lowest price in over a year. Meanwhile, Eli Lillys key competitor in the weight-loss sphere, Novo Nordisk, saw its shares surge more than 7%, even after a disappointing earnings report yesterday suggested lower growth expectations as Wegovy and Ozempic face mounting competition from the cheaper Eli Lilly alternatives. The seemingly counterintuitive investor reactions come down to Eli Lillys recent clinical trial testing the efficacy of its oral GLP-1, in a group of 3,127 adults who are obese or overweight and experiencing weight-related medical issues. The drug is effective. At the highest dose, over half of patients in the trial saw at least a 10% reduction in weight and nearly 40% saw at least a 15% reduction. However, investors were hoping for higher levels of weight loss to compete with Novo Nordisks medicationsincluding an oral verson of Wegovy that is up for FDA approval later this year. After Eli Lilly’s trial results were released, David Risinger, an analyst at Leerink Partners, downgraded Eli Lillys stock and changed his expectation for sales of the drug from $21.6 billion to $13.5 billion. In the increasingly crowded and fast-changing weight-loss drug space, Eli Lilly and Novo Nordisk are slated to remain in close competition. Eli Lilly plans to move to a second phase three trial for its oral GLP-1, while Novo Nordisks pill version of Wegovy also continues its path to FDA approval.
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OpenAI on Thursday unveiled its highly anticipated GPT-5, a powerful multi-modal AI model featuring major advancements in problem-solving and coding. The new flagship model was announced during a Thursday morning livestream. Unlike previous releases that were limited to paid subscribers, GPT-5 will be available to free-tier ChatGPT users as well, OpenAI said. OpenAI CEO Sam Altman described interacting with the new model as akin to conversing with a PhD-level expert, noting that while GPT-3 was comparable to a high school student and GPT-4 to a college student, With GPT-5 you get an entire team of PhD experts in your pocket, ready to help you, Altman said. During the announcement, OpenAI researchers emphasized that GPT-5 was designed to be more reliable and accurate, with fewer hallucinations. GPT-5 offers improvements in reasoning, higher-quality code generation, greater autonomy with reduced need for user input, and seamless integration with platforms like ChatGPT and Google’s Gmail and Calendar apps. Earlier language models relied only on pretraining to generate responses. GPT-5, like recent inference-based models, can also incorporate new data from user prompts in real time (a method known as test-time computing). This release also unifies OpenAIs model naming, replacing names like o1 and o4-mini with the GPT-5 family, signaling a shift to models that combine both pretraining and inference. For many, the key question is whether the leap from GPT4 to GPT-5 will prove as dramatic as the jump from GPT3 to GPT4. Independent testing will shed light on that. OpenAI also recently introduced two open-weight modelsgpt-oss-120b and gpt-oss-20bwhich are freely available and modifiable by developers. This move marked a rare shift from its typically closed model strategy. However, with GPT-5, OpenAI returns to its more traditional closed approach. In addition, the company announced a partnership with the U.S. federal government to provide executive branch agencies access to its enterprise-grade chatbot. Through a landmark agreement with the General Services Administration (GSA), ChatGPTEnterprise will be made available to agencies for just $1 per agency for one year. OpenAI has assured that it will not use government data to train its AI models.
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Former President Bill Clinton plans big changes for this years Clinton Global Initiative annual meeting by necessity to address the changing landscape for global development and increasing needs driven by war and climate disasters. We need to redefine how we show up, how we work, and how we find ways to honor our common humanity, Clinton wrote in a letter to the CGI community released Thursday. This September, our goal will be to connect dots across issues, expose the consequences, and confront the complicated issues in front of us. Since its launch in 2005, the CGI annual meeting has served as a platform for political, business and philanthropic leaders to announce new initiatives or new financial support for existing programs addressing the worlds problems. At the 2024 meeting, former First Lady Jill Biden announced $500 million in new annual spending for womens health research, while Prince Harry outlined his plans to help children and their parents navigate cyberspace better. This years meeting held once again during United Nations General Assembly week and led by Clinton, former Secretary of State Hillary Clinton and Clinton Foundation Vice Chair Chelsea Clinton will also include Barbados Prime Minister Mia Mottley and Kosovo President Vjosa Osmani, as well as Gilead Sciences CEO Daniel ODay, Pinterest CEO Bill Ready, and Open Society Foundations President Binaifer Nowrojee. However, the focus this year will be on forging new solutions for economic, health, climate and humanitarian issues. The CGI community is built for moments like this, Clinton wrote. This year marks two decades of our community convening and responding directly to global crises. In previous years, CGI helped organize responses to the 2010 earthquake in Haiti, Caribbean hurricanes in 2017, and the COVID-19 pandemic. CGI estimates it has helped more than 500 million people in 186 countries over the past two decades. President Donald Trumps administration has swiftly dismantled the U.S. Agency for International Development, arguing that many programs did not advance American interests. A number of philanthropic funders have stepped in to replace some support of humanitarian programs and public health initiatives, but many gaps remain. CGI hopes to close those gaps with a series of Leaders Stage Sessions, where representatives from a wide range of organizations including GoFundMe CEO Tim Cadogan, Center for Disaster Philanthropy CEO Patricia McIlreavy, AFL-CIO President, and American Federation of Teachers President Randi Weingarten — will work together to create new initiatives. Now is the time to stand up and roll up our sleeves and do our part to reverse the trend lines and begin charting a brighter future, Clinton said in a statement. On Tuesday, the House Oversight Committee subpoenaed President Clinton and former Secretary of State Hillary Clinton as part of its Jeffrey Epstein sex trafficking investigation. Organizers declined comment on what impact, if any, the subpoenas would have on planning for the CGI annual meeting. Former Secretary Clinton has been called to provide a deposition on Oct. 9, while former President Clinton has been called to offer a deposition on Oct. 14. ____ Associated Press coverage of philanthropy and nonprofits receives support through the APs collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of APs philanthropy coverage, visit https://apnews.com/hub/philanthropy. Glenn Gamboa, AP business writer
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