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Blockbuster weight-loss drugs are priced significantly higher in the U.S. than in other large, high-income countries, according to a new analysis.
The analysis from KFF, a health policy organization, comes as many U.S. health insurers balk at the extreme cost of weight loss drugs and drop the medications from their plans.
Novo Nordisk’s Ozempic and Wegovy are listed for about $1,000 in the U.S. but just hundreds of dollars in Germany, for example.

A box of the diabetes drug Ozempic rests on a pharmacy counter in Los Angeles, April 17, 2023.
Mario Tama | Getty Images

Blockbuster weight-loss drugs are priced significantly higher in the U.S. than in other large, high-income countries, according to a new analysis released Thursday. 
The report from KFF, a health policy organization, comes as many U.S. health insurers balk at the extreme cost of weight-loss drugs and drop the medications from their plans.

At roughly $1,000 per month on average for medications that are typically taken over a long period of time, the drugs are straining insurers’ budgets. But many of the 100 million American adults who are obese can’t afford to pay out of pocket for the treatments, called GLP-1 agonists.
KFF compared list prices — the price a drugmaker sets before insurance or any discounts — available through website searches. 
Some countries negotiate directly with drugmakers such as Novo Nordisk to set lower list prices for medications, according to Krutika Amin, associate director of the Peterson-KFF Health System Tracker. Meanwhile, other countries such as the U.S. do not, contributing to vastly different list prices.
A 30-day supply of Novo Nordisk’s diabetes drug Ozempic, which is used off-label for weight loss, for example, has a list price of $936 in the U.S. That’s five times as expensive as the $168 list price in Japan. 
The list prices are even lower in other countries. Ozempic is priced at $103 in Germany, $96 in Sweden and $83 in France. 

Novo Nordisk’s Wegovy, which has the same active ingredient as Ozempic and is approved for weight loss, has a list price of more than $1,300 in the U.S. Meanwhile, Wegovy’s list price is just $328 in Germany. 
Eli Lilly’s diabetes drug Mounjaro, which is also used off-label for weight loss, has a list price of $1,023 in the U.S. but is just $319 in Japan and $444 in the Netherlands. 
Representatives for Novo Nordisk and Eli Lilly did not immediately respond to CNBC’s request for comment Thursday.
These list prices and the patchy insurance coverage of weight-loss drugs in the U.S. undoubtedly affect accessibility. But a KFF survey released earlier this month suggests that they also affect patients’ overall interest in the medications.
The survey found that nearly half of U.S. adults are generally interested in taking a prescription weight-loss drug, but that interest drops to 16% if the medication isn’t covered by insurance. 
About 80% of adults in the survey said insurance companies should cover the cost of weight-loss drugs for adults who are overweight or obese, while half said insurers should cover the cost for anyone who wants to use them to lose weight. 
New trial data released by Novo Nordisk last week could potentially put more pressure on U.S. insurers to cover weight-loss drugs. 
The Danish company’s trial found that Wegovy slashed the risk of serious heart problems and heart-related death by 20% in overweight or obese patients with established cardiovascular disease. 
The results suggest that Wegovy and likely other obesity drugs have significant health benefits beyond shedding unwanted pounds. But organizations representing insurers have told CNBC that more data is needed before they could qualify for broader coverage. More

As two Hollywood strikes rage on, movie writers and stars aren’t permitted to hype their projects, due to strike rules.
The longer the work stoppages keep going, the more likely it is studios will move releases later as production shutdowns choke the movie release pipeline.
Warner Bros. Discovery, in particular, has a big dilemma with “Dune: Part Two,” a sequel to the 2020 blockbuster Oscar winner that stars Timothee Chalamet and Zendaya.

Timothee Chalamet stars in Warner Bros.’ “Dune.”
Warner Bros.

LOS ANGELES – Warner Bros. has a sandworm-sized dilemma on its hands: Keep the fall release date for its highly anticipated “Dune: Part Two” and risk not having its star-studded cast promote it – or bump it into next year and potentially miss out on a dominant run at lucrative premium movie screens.
As two Hollywood strikes rage on, movie writers and stars aren’t permitted to hype their projects, due to strike rules. The longer the work stoppages keep going, the more likely it is studios will delay releases as production shutdowns choke the movie release pipeline.

Already, a handful of titles – including Ethan Coen’s “Drive Away Dolls,” the sequel to “Ghostbusters: Afterlife” and the Emma Stone-led “Poor Things” – have moved to later dates due to the labor disruption. “Dune: Part Two,” a science fiction epic based on Frank Herbert’s seminal novel, could end up the biggest title to move. Speculation has swirled about the sequel leaving its Nov. 3 slot since the Screen Actors Guild-American Federation of Television and Radio Artists went on strike last month.
After the stunning success of “Barbie,” and with doubts growing about December’s “Aquaman: The Lost Kingdom,” “Dune: Part Two” would be a important 2023 release for Warner Bros. Its predecessor excelled at the box office during the pandemic despite being released day and date on streaming service HBO Max (now just called Max). It racked up 10 Academy Award nominations, taking home six trophies.
With pandemic restrictions lifted on movie theaters, expectations are that “Dune: Part Two” would outpace the nearly $400 million the prior film tallied at the global box office in 2021 on a reported budget of $165 million.
“As one of the biggest and most anticipated movies of the all-important and prestigious holiday season, ‘Dune: Part Two’ is one of the crown jewels of Warner Bros.’ end of year lineup and has much riding on its cinematic shoulders,” said Paul Dergarabedian, senior media analyst at Comscore.
Warner Bros. didn’t immediately respond to CNBC’s request for comment.

While the Writers Guild of America has returned to the bargaining table with producers, negotiations are moving slowly.
Meanwhile, the producers haven’t contacted the other striking guild, SAG-AFTRA, to resume talks. SAG-AFTRA has also promised not to grant interim agreements to any WGA-covered productions produced in the U.S., meaning these projects cannot start or continue filming or be promoted by active guild members if they are released.
There’s genuine fear that the labor fight will drag on, as well.
“I think it’s gonna go into next year,” said Steven Schiffman, an adjunct professor at Georgetown University and a former executive at National Geographic. “I think it’s gonna get to a really painful process.”

To ‘Dune’ or not to ‘Dune’

The inability to have actors promote film releases is one of the major headwinds facing “Dune: Part Two.”
Typically, studios will begin marketing their films in earnest, beyond trailers and posters, in the six to eight weeks leading up to a film’s release. These efforts often include late night talk show appearances by cast members, taped interviews and junkets, as well as international promotional trips.
If SAG-AFTRA does not reach a deal by the middle of September, the marketing campaign for the sequel won’t be able to utilize its star-studded ensamble to promote the film.
Alongside industry veterans like Christopher Walken, Stellan Skarsgard, Javier Bardem, Josh Brolin, Dave Bautista and Jason Momoa, the film features four of Hollywood’s most popular young stars.
Zendaya, Timothee Chalamet, Florence Pugh and Austin Butler collectively have more than 200 million followers on Instagram and are trending faces on TikTok, Twitter and other social media platforms.
“Without that, they forgo a huge chunk of Gen Z going to see that movie,” said Alicia Reese, vice president of equity research at Wedbush Securities.
She noted that older moviegoers who are fans of the book and saw the first “Dune” will show up to theaters, but younger audiences might miss out on the flick without promotion from these stars.
“Missing out on that, that’s damaging,” Reese said, “But is it damaging enough to not show the movie at all? Because if they move it, they risk losing that really prime IMAX spot.”
Premium format auditoriums like IMAX, Dolby Cinema and ScreenX are becoming increasingly important for blockbuster features, such as recent hits “Avatar: The Way of Water” and “Oppenheimer.” After the pandemic, audiences have been pickier about what films they leave home to see and have been opting more for screenings with better picture and sound quality, even if the price tag is higher.

In 2022, 15% of all domestic tickets sold were for premium screenings, with the average ticket costing $15.92, according to EntTelligence data. A standard ticket costs an average of $11.29.
If “Dune: Part Two” moves into next year, it runs the risk of not finding a weekend, or multiple weekends, where it will be able to capture a significant portion of premium screens or not be able to hold them for several weeks of its run.
Additionally, if it holds to its current date, other films could move and it could find itself with limited competition and the ability to capture more audience attention.
“Every studio with a film on the calendar is confronting how to deal with similar such dilemmas,” said Dergarabedian.
Yet to come in 2023 are Disney and Marvel’s “The Marvels,” Lionsgate’s “The Hunger Games: The Ballad of Songbirds & Snakes,” Disney Animation’s “Wish,” AppleTV+’s “Napoleon.” Warner Bros. has other big titles, too: “Wonka,” the “Aquaman” sequel and “The Color Purple.”
“There are practical arguments in support of ‘Dune: Part Two’ both moving and staying put,” said Shawn Robbins, chief analyst at BoxOffice.com. “For the health of the industry overall, I think the scales still tip in favor of remaining in November.”
While “Barbie” and Universal’s “Oppenheimer” have injected nearly a billion dollars into the domestic box office’s coffers in the last month, there are few blockbuster releases slated for the remainder of the year, the “Dune” sequel among them.
A depleted fourth-quarter movie slate could hurt exhibition partners like AMC, Cinemark and Regal that are heavily reliant on new content.
Moving “Dune: Part Two” could possibly provoke other studios to delay big releases until next year, according to Robbins.
“Frankly, the back half of this year doesn’t need anymore of a challenge trying to live up to the strong spring and summer we’ve seen at the box office,” he said.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. More

Shares of CVS Health plunged after Blue Shield of California said it will drop the company’s pharmacy benefit management services.
Blue Shield will instead partner with Mark Cuban’s Cost Plus Drug Company and Amazon Pharmacy to save on drug costs for its nearly 5 million members. 
The announcement hints at the potential for health insurers to abandon the traditional pharmacy benefit management system and sent shares of other companies that offer the services lower.

A woman walks past a CVS Pharmacy in Washington, DC, on November 2, 2022.
Brendan Smialowski | AFP | Getty Images

Shares of CVS Health plunged 8% on Thursday after Blue Shield of California said it will drop the company’s pharmacy benefit management services and instead partner with Mark Cuban’s Cost Plus Drugs company and Amazon Pharmacy to save on drug costs for its nearly 5 million members. 
The announcement hints at the potential for health insurers to abandon the traditional pharmacy benefit manager, or PBM, system and sent shares of other companies that offer PBM services lower.

Cigna and UnitedHealth Group dropped about 6% and 2%, respectively. 
PBMs maintain lists of drugs covered by health insurance plans and negotiate drug discounts with manufacturers. But they have recently come under scrutiny from lawmakers for their role in inflating drug prices and causing health-care costs to skyrocket. 
CVS Health’s Caremark has been Blue Shield’s PBM partner for more than 15 years. 
Blue Shield will now work with five different companies to provide “convenient, transparent access to medications while lowering costs.”
Blue Shield CEO Paul Markovich said the plan, which is scheduled to fully launch in 2025, could save the company up to $500 million annually. 

Close-up of logo for health insurance company Blue Shield of California on light wooden surface, San Ramon, California, September 16, 2020.
Smith Collection/gado | Archive Photos | Getty Images

Amazon Pharmacy will offer at-home drug delivery. Cuban’s Cost Plus Drug Company will provide access to low-cost medications through retail pharmacies. Another company, Abarca Health, will process drug claims.
Blue Shield will retain CVS Caremark for its specialty pharmacy services, which provide specialized therapies and counseling to patients suffering from complex disorders. 
“We look forward to providing care for Blue Shield of California’s members who require complex, specialty medications — as we have for nearly two decades,” said Michael DeAngelis, a spokesman for CVS Health, in a statement to CNBC.
Still, the loss of Blue Shield’s PBM partnership is another blow to Caremark, which is also set to lose a contract with Centene next year. More

SpaceX turned a profit during the first quarter due to surging revenue, The Wall Street Journal reported.
For the full year 2022, Elon Musk’s rocket company roughly halved losses while doubling what it brought in during 2021.
The rare look at SpaceX’s financials offers a clue into how the company is faring while it ramps up its Starlink internet satellite service and races to get its monster Starship rocket delivering payloads to space.

A Falcon Heavy rocket launches the USSF-67 mission from NASA’s Kennedy Space Center in Florida, Jan. 15, 2023.

SpaceX turned a profit during the first quarter due to surging revenue, The Wall Street Journal reported Thursday, citing documents detailing the privately held company’s quarterly and annual results.
The Journal reports that SpaceX posted a first-quarter profit of $55 million on revenue of $1.5 billion. For the full year 2022, Elon Musk’s rocket company posted a loss of $559 million on revenue of $4.6 billion, the report says. It roughly halved losses while doubling what it brought in during 2021.

The rare look at SpaceX’s financials offers a clue into how the company is faring while it ramps up its Starlink internet satellite service and races to get its monster Starship rocket delivering payloads to space.
Starship is key to SpaceX’s success moving forward. It will allow the company to add more satellites to its Starlink network more quickly and will unlock a new avenue for commercial rocket service as SpaceX brings on launch clients.
The company is spending heavily to advance its projects. SpaceX tallied $5.2 billion in total expenses last year, up from $3.3 billion the year earlier, according to the Journal.
SpaceX didn’t immediately respond to CNBC’s request for comment.
Read the full report at The Wall Street Journal. More

Diamond Sports is calling mediators into its discussions with creditors as it tries to push toward a reorganization plan.
The owner of the largest portfolio of regional sports networks is looking to solidify a plan ahead of the upcoming NBA and NHL seasons.
Diamond has also filed a lawsuit against parent company Sinclair for allegedly “milking” Diamond for billions of dollars while knowing the sports channel business was distressed.

The Ohio Cup Trophy on top of a Bally Sports logo prior to a game between the Cincinnati Reds and Cleveland Guardians at Progressive Field in Cleveland, May 17, 2022.
George Kubas | Diamond Images | Getty Images

The courtroom continues to heat up for Diamond Sports Group, the largest owner of regional sports networks.
On Thursday, a bankruptcy judge approved Diamond’s request to bring in mediators as it is negotiates with creditors to reach a reorganization plan. The company said in court papers it needs to meet “substantial plan progress” ahead of the start of the upcoming NBA and NHL seasons in October.

“I think sports are part of the fabric of America, and many fans out there from day one want to know how and when their teams are going to play,” said Judge Christopher Lopez during Thursday’s hearing, adding all parties should participate in the discussions to reach a resolution.
Two judges from the U.S. Bankruptcy Court in the Southern District of Texas — Judges David Jones and Marvin Isgur — will preside as mediators.
Last week, Diamond won court approval to extend the period of time it has to come up with a reorganization plan.
Diamond sought bankruptcy protection earlier this year, burdened by more than $8 billion in debt and the significant headwinds hitting the regional sports networks business as more consumers cancel their cable subscriptions in favor of streaming.
The company and some of its creditors at earlier points in the case, including during a hearing last week, “have indicated that mediation could help [Diamond] sort through myriad issues they must confront on the path toward reorganization.”

Diamond has until Sept. 30 to file a reorganization plan, weeks ahead of the opening of the 2023-24 NBA and NHL seasons. It is vital for Diamond to continue carrying local games on its networks. Since its filing, it has already seen some teams leave its Bally Sports channels due to a breakdown in rights fees discussions.
The prospect of local game rights being up for grabs has attracted broadcast station owners – including Nexstar Media Group, Gray Television and E.W. Scripps Co. – looking to carry the games, CNBC previously reported. The Phoenix Suns recently exited a Bally Sports network for such a deal.
Besides shedding its hefty debt load, Diamond is looking to reset some of its rights deals with teams to reflect so-called market rates.
Last week, a lawyer on behalf of the NHL said the league was in constructive discussions with Diamond, but that “time is of the essence” ahead of the upcoming season.

Sinclair tension

During the bankruptcy process so far, Diamond has faced numerous conflicts – including an ongoing battle with MLB over teams’ streaming rights and rights fees that has led to Diamond dropping some teams from its Bally Sports channels and its recent lawsuit against parent company, Sinclair.
On Wednesday, Diamond unveiled the details behind the lawsuit.
In 2019, Sinclair acquired the portfolio of networks – previously known as Fox Sports – from Disney for $10.6 billion, a required divestiture that was part of Disney’s buyout of Fox Corp.’s 21st Century assets.
Diamond’s more than $8 billion debt load stems from the deal, which also imposed between $400 million to $650 million in debt payments, the company said in court papers.
In the few years since, Diamond’s business, pay-TV providers and other cable channels have experienced accelerating deterioration in their business.
Diamond is now alleging that the ownership of Sinclair only exacerbated its problems.
In court papers, the company said Sinclair has been “milking” Diamond for more than $100 million annually in management fees since the acquisition, despite knowing the dire state of the business. On top of this, Diamond alleges Sinclair, in a “nefarious strategy … wrongfully caused Diamond to transfer more than $1.5 billion in cash and other consideration for the benefit of Sinclair.”
This occurred as Diamond alleges Sinclair knew the RSN business was “careering toward bankruptcy, and it continued after Diamond was unquestionably insolvent.”
“Sinclair has been informed of a lawsuit filed by Diamond Sports Group in connection with their ongoing bankruptcy proceeding. We firmly believe the allegations in this lawsuit are without merit and intend to vigorously defend against them,” a Sinclair spokesperson said in a statement.
Diamond appointed a new board and leadership last year to run its RSN business as it faced an inevitable bankruptcy filing. Diamond is now an unconsolidated and independently run subsidiary of Sinclair. More

Ball Corp. agreed to sell its aerospace division to U.K. defense contractor BAE Systems for $5.6 billion in cash, the companies announced Thursday.
Ball Aerospace has about 5,200 employees and deals in manufacturing spacecraft and specialized aerial systems.
Ball began shopping around its aerospace division earlier this year, looking for a deal that would help trim its nearly $10 billion in debt.

The Ball Aerospace-manufactured Weather System Follow-on-Microwave (WSF-M) satellite for the U.S. Space Force.
Ball Corporation

Ball Corp. agreed to sell its aerospace division to U.K. defense contractor BAE Systems for $5.6 billion in cash, the companies announced Thursday.
The deal is expected to close in the first half of next year, pending regulatory approval.

The aerospace unit of Colorado-based Ball, widely known for its beverage and household packaging products, deals in manufacturing spacecraft and specialized aerial systems. It counts NOAA, the Pentagon and U.S. intelligence agencies as some of its key customers.
BAE noted that more than 60% of Ball’s 5,200 or so aerospace employees hold U.S. security clearances.
“The proposed acquisition of Ball Aerospace is a unique opportunity to add a high quality, fast growing technology focused business with significant capabilities to our core business that is performing strongly and well positioned for sustained growth,” BAE Systems CEO Charles Woodburn said in a statement.

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Ball began shopping around its aerospace division earlier this year, looking for a deal that would help trim its nearly $10 billion in debt. Ball said the transaction is expected to generate about $4.5 billion in after-tax proceeds.
Shares of Ball were up about 3% in midday trading Thursday. More

A work stoppage by nearly 150,000 UAW workers at GM, Ford and Stellantis would result in an economic loss of more than $5 billion after 10 days, according to Anderson Economic Group.
The Michigan-based consulting firm estimates the total economic loss by calculating potential losses to UAW workers, the manufacturers and to the auto industry more broadly.
During the last round of bargaining in 2019, a breakdown in negotiations between the Detroit automakers and the UAW led to a national 40-day strike against GM that cost it $3.6 billion.

United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019.
Michael Wayland | CNBC

DETROIT – If the United Auto Workers union decides to strike against Detroit’s Big Three automakers when current labor contracts expire next month, the economic effect would quickly tally into the billions, according to a report released Thursday.
A work stoppage by nearly 150,000 UAW workers at General Motors, Ford Motor and Stellantis would result in an economic loss of more than $5 billion after 10 days, according to Anderson Economic Group, a Michigan-based consulting firm that closely tracks such events.

AEG estimates the total economic loss by calculating potential losses to UAW workers, the manufacturers and to the auto industry more broadly if the sides cannot reach tentative agreements before the current contracts expire at 11:59 p.m. ET on Sept. 14.
“Consumer and dealer losses are typically somewhat insulated in the event of a very short strike,” said Tyler Theile, vice president at AEG. “However, with current inventories hovering around only 55 days, the industry looks different than it did during the last UAW strike.”
During the last round of bargaining in 2019, a breakdown in negotiations between the Detroit automakers and the UAW led to a national 40-day strike against GM. The automaker said the strike cost it about $3.6 billion that year in earnings.
In past negotiating periods, the UAW has selected a lead company of the Big Three and targeted initial collective bargaining efforts, including the threat of striking, there. But the new union leadership, already more aggressive than in recent history, hasn’t promised to limit such efforts to one automaker, leaving all three more vulnerable.
“This is a different year than 2019,” AEG CEO Patrick Anderson said Thursday during a webinar with the Automotive Press Association. “It’s a different environment now.”

UAW President Shawn Fain during a Facebook Live event Tuesday reaffirmed that the expirations of the contracts are deadlines, not suggestions. He said the union has no plans to extend the current contracts to allow for bargaining to continue without a strike, which was previously common practice.
Effects for the companies would vary based on their U.S. operations and employees.
GM losses would be $380 million through a 10-day strike, according to AEG. That compares to estimates of $325 million for Ford and $285 million impact on Stellantis.
AEG’s estimates do not include UAW strike pay or assessments for strike pay, unemployment benefits or unemployment taxes, income taxes on wages and other potential effects such as settlement bonuses.
The report from AEG comes a day after RBC Capital suggested the potential effect of a strike on the automakers may be “overblown.” In an investor note, analyst Tom Narayan argues GM’s “sharp snapback” after the 2019 work stoppage “suggests a similar event could be manageable.”
However, the strike four years ago was only against one automaker, not all three. A simultaneous strike would likely cause ripple effects more quickly, especially for embattled suppliers that are still attempting to recover from lower production caused by supply chain issues. More

Paris has long been at the heart of the history of flight. It is where the Montgolfier brothers ascended in the first hot-air balloon in 1783, and where Charles Lindbergh completed the first solo transatlantic aeroplane journey in 1927. Next year, if all goes to plan, Paris will be the site of another industry first when Volocopter, a German maker of electric aircraft, launches a flying-taxi service during the Olympic Games. At the Paris Airshow in June the company, and some of its rivals, paraded a new generation of battery-powered flying machines designed for urban transport.Listen to this story. Enjoy more audio and podcasts on More