Business

Direct-to-consumer health-care startup Ro said its platform will now offer more affordable single-dose vials of the weight loss drug Zepbound through a new partnership with Eli Lilly.
Ro will offer a “complete end-to-end” experience on a single platform and app, allowing eligible patients to receive a diagnosis and a prescription for Zepbound and have vials of the drug delivered to their homes.
That is made possible through a first-of-a-kind integration with Eli Lilly’s direct-to-consumer website, LillyDirect, and aims to streamline access to the popular treatment. 

Patients will be able to access Zepbound single-dose vials at Ro
Coutesy: Ro

Direct-to-consumer health-care startup Ro on Wednesday said its platform will now offer more affordable single-dose vials of the weight loss drug Zepbound through a new partnership with Eli Lilly, which aims to streamline access to the popular treatment. 
Ro said it will offer a “complete end-to-end” experience on a single platform and app, allowing eligible patients to receive a diagnosis and a prescription for Zepbound and have vials of the drug delivered to their homes. That is made possible through a first-of-a-kind integration with Eli Lilly’s direct-to-consumer website, LillyDirect, which already offers home delivery of Zepbound vials through a third-party digital pharmacy, Gifthealth.

Gifthealth will dispense the vials to patients who receive Zepbound prescriptions through a provider affiliated with Ro. 
Zepbound vials are a cash-pay product offered only through LillyDirect, meaning patients pay for it themselves with cash at a lower cost than the autoinjector form of the drug. The vials have the “most affordable” price of a branded GLP-1 drug before insurance, according to Ro. GLP-1s, a class of medications that mimic gut hormones to tamp down appetite and regulate blood sugar, have skyrocketed in demand over the last two years. 
“Patients usually have to go to multiple places to get Lilly’s drug, like the doctor’s office then a pharmacy,” Ro co-founder and CEO Zachariah Reitano told CNBC in an interview. “This integration really creates a seamless patient experience where they don’t have to go anywhere else. They can access doctors, labs and a pharmacy that will give them access to Zepbound vials all in one place.” 
Ro runs a weight loss program that already prescribes Zepbound in a single-dose autoinjector pen, which patients can directly inject under their skin with the click of a button. But that form of the drug is far more expensive than vials, costing around $1,000 per month before insurance. 
The 2.5-milligram and 5-milligram single-dose vials of Zepbound cost $399 per month and $549 per month before insurance, respectively, making them more accessible to those who don’t have insurance coverage for the drug. Eli Lilly began offering those vials through LillyDirect in August. 

“Whether you’re covered by insurance, or whether you want the most affordable branded cash-pay GLP-1, which is the Zepbound vials, you can get all of those by coming to Ro,” Reitano said, noting that the company will help eligible patients determine which form of the drug is best for them based on their insurance. 
He acknowledged that roughly $400 to $500 per month for Zepbound is “still out of reach for many, but it is now far more in reach than” $1,000 or more.

Patients will be able to access Zepbound single-dose vials at Ro
Coutesy: Ro

The popularity of expensive treatments such as Zepbound and Novo Nordisk’s weight loss injection Wegovy has led to widespread shortages in the U.S. That issue has since subsided after Eli Lilly and Nordisk raced to ramp up manufacturing capacity for the drugs. 
Still, cheaper compounded versions of GLP-1s have gained traction amid the limited supply of the branded medications. Eli Lilly is working to expand access to branded Zepbound in what appears to be a bid to crack down on compounded versions of the drug. 
Patrik Jonsson, Eli Lilly’s president of cardiometabolic health, said in a release on Tuesday that the goal of the new integration is to “break down barriers and provide patients with safe and effective options they can rely on.”
The FDA is currently reconsidering its decision to take Zepbound off its drug shortages list following a lawsuit from a trade association representing compounding pharmacies. Removing Zepbound from that shortages list will essentially prevent compounding pharmacies from making custom versions of the drug. 
If that ends up being the case, Reitano said Ro “will both follow all applicable laws and guidance” under the FDA and also “fight to make sure that our patients have access to the most effective products and most affordable products.” More

Red Bull Arena in Harrison, New Jersey, will be renamed Sports Illustrated Stadium
This marks the sports publication’s first foray into stadium naming rights.
Sports Illustrated will also be the stadium’s official ticket provider.

Rendering of Sports Illustrated Stadium

The New York Red Bulls have a new stadium naming rights partner.
On Wednesday, the Major League Soccer 2024 Eastern Conference Champions announced a 13-year naming rights deal with Sports Illustrated.

Effective immediately, the 20,000-capacity Red Bull Arena in Harrison, New Jersey, will be renamed Sports Illustrated Stadium. It marks the first stadium naming rights deal in the sports publication’s history.
“For 70 years, Sports Illustrated has represented the best in sports and culture,” said David Lane, Sports Illustrated Tickets CEO. “Through this partnership, we aim to showcase our vast portfolio of media, live event, ticketing, hospitality and fan experiences,” he added.
Financial terms of the deal were not disclosed.
As part of the agreement, starting in the 2026 season, Sports Illustrated will also become the official ticketing partner for all events held at the stadium.
That includes all New York Red Bulls games, Gotham FC games, international soccer games, and all concerts and events.

Arrows pointing outwards

Sports Illustrated has signed a deal with the New York Red Bulls for Naming Rights
Courtesy: Sports Illustrated

Sports Illustrated is also adding swag for stadium-goers. Fans who attend games and events at the stadium will receive a digital Sports Illustrated fan cover to take home.
The stadium naming rights mark a new chapter for the storied sports magazine, which got its start in 1954.
SI has had a challenging past few years filled with mass layoffs and changes in ownership.
The brand is currently owned by Authentic Brands Group and published by Minute Media.
As SI looks to reinvent itself, the publication launched a fan ticket platform called Sports Illustrated Tickets in June 2021. Today, the ticketing marketplace has more than $2.5 billion of tickets in inventory and offers access to more than 50 million sports, theater and concert tickets.
“Sports Illustrated Stadium is much more than just a sports and concert venue — it’s a celebration of history, innovation, and the unforgettable experiences that unite us all,” said Lane. More

As Dave Bozeman takes the stage at his first investor day as CEO of C.H. Robinson, he’ll have to contend with a freight recession, the threat of higher tariffs and the turnaround of a century-old logistics giant.
Executives of the company will present new financial targets, answer questions about its shift to a lean operating model and provide an update on the business conditions, including the potential impact of President-elect Donald Trump’s proposed tariffs.
“The freight still has to move. It might just move at a different starting point, and we would still be there to move that,” C.H. Robinson CEO Dave Bozeman told CNBC.

Dave Bozeman, chief executive officer of C.H. Robinson.
Source: C.H. Robinson

As Dave Bozeman takes the stage at his first investor day as CEO of C.H. Robinson, he’ll have to contend with a freight recession, the threat of higher tariffs and the turnaround of a century-old logistics giant.
“I want to lay out our vision and that we actually already started executing,” Bozeman told CNBC in an exclusive interview ahead of the company’s investor day on Thursday. “We are going to grow market share, and we are going to expand our overall operating margins.”

On Thursday executives of the shipping company will present new financial targets, answer questions about its shift to a lean operating model, and provide an update on the business conditions, including the potential impact of President-elect Donald Trump’s proposed tariffs.
Trump has said he’ll impose 60% tariffs on goods from China and 25% tariffs on goods from Mexico and Canada. That could have a material impact on C.H. Robinson, which transports goods around the world for almost 100,000 clients.
C.H. Robinson’s main business segments include global forwarding, often referred to as freight brokerage between the U.S. and other regions; and North American surface transportation, which is primarily moving freight over land.
Analysts estimate C.H. Robinson is a top 3 carrier on the China-U.S. freight lane, and the company says it carries about 10% of the freight on the U.S.-Mexico lane.
“Some shippers will say, ‘We will take on that tariff.’ The economics of that volume will probably change in pricing and things like that. Either way we’re still going to move that freight,” Bozeman said. “The freight still has to move. It might just move at a different starting point, and we would still be there to move that.”

Citi transportation analyst Ari Rosa upgraded C.H. Robinson to a buy rating in November. He believes tariffs are creating a short-term pull forward of freight and agrees with Bozeman that, long term, the company has the ability to mitigate the impact of potential tariffs.
“There’s no question that their global forwarding business is very exposed to China,” Rosa told CNBC. “But I do think that their business is diversified enough that they can work through tariffs.”

New era

Technology will also be in focus at Thursday’s investor day, including C.H. Robinson’s partnership with Microsoft and its use of Azure AI.
“We went in hard with AI. It’s a game changer for us and particularly for our scale,” Bozeman said, noting the partnership with Microsoft has been a major value add, but much of the work is done internally.
“Our engineers actually do the large language models. We are driving out 10,000 email quotes [per day] that are being deployed via large language models. I’ve been really pleased with the productivity that we have had using this technology,” Bozeman said.
“We’re able to get quotes back to customers in less than 2 minutes in a conversational manner,” he said. “It allows our people to now stay on solutioning and executing and solving things with our customers, versus spending time on menial tasks.”
This week, Wells Fargo analyst Christian Wetherbee upgraded C.H. Robinson stock in a note, writing in part: “We see a unique opportunity for earnings to compound through ’27, driven by improved execution (led by technology), which should lead to share gains and margin expansion.”
Key to all of Bozeman’s goals for C.H. Robinson is the shift to a new lean operating model, focused on continuous improvement and reducing activities and inefficiencies that do not add value to the enterprise or customer.
A lean model is relatively new to logistics. However, it is used at Amazon, Caterpillar and Ford — all companies where Bozeman has served as a top executive.
The shift has been well received. Shares of C.H. Robinson are up more than 25% this year, well outperforming the Dow Jones Transportation Average’s roughly 7% gain over the same period.
“I’m building a new company, a new culture,” said Bozeman. “It’s going to be a company that is an easy bet to invest in because it’s a market leader.” More

Major insurance stocks have fallen more than 6% since their closing prices last Tuesday, the day before the deadly shooting of Brian Thompson, CEO of UnitedHealth Group’s insurance arm.
That includes UnitedHealth Group, CVS Health and Cigna, which operate three of the nation’s largest private health insurers.
That stock performance appears to be in response to renewed negative rhetoric around insurers and how they manage their businesses, said Jared Holz, Mizuho’s health-care equity strategist.

A banner hanging from on overpass along the southbound lane of I-83 that says, “Deny Defend Depose Health Care 4 All.”
Lloyd Fox | Baltimore Sun | Tribune News Service | Getty Images

Major insurance stocks have fallen more than 6% since their closing prices last Tuesday, the day before the deadly shooting of Brian Thompson, CEO of UnitedHealth Group’s insurance arm, in midtown Manhattan. 
That includes UnitedHealth, CVS Health and Cigna, which operate three of the nation’s largest private health insurers. Thompson, 50, led UnitedHealthcare, the largest private payer of health insurance benefits in the U.S. 

Luigi Mangione, 26, is accused of fatally shooting Thompson outside the Hilton hotel in midtown Manhattan early Wednesday last week, as the CEO headed to UnitedHealth Group’s investor day. Investigators have said Mangione was a critic of the health-care industry, a view some Americans sympathized with online in the days after Thompson’s death.
The stock performance of the companies appears to be in response to the “renewed rhetoric” condemning insurers’ business models, where they “wind up incredibly profitable at the expense of some patients at different points of the year,” Jared Holz, Mizuho’s health-care equity strategist, said in an interview.
He noted that it is not a new theme in the industry, which many Americans blame for their spiraling health-care costs.
“I think the response investors have had is, ‘do we want to own this category of stocks if there’s going to be this now renewed negative focus on the industry?'” Holz said. 
UnitedHealthcare, similar to other big insurers, has faced lawsuits and criticism from regulators, lawmakers and patients alike over allegedly denying claims to maximize their profits. Americans have criticized insurance companies over denied coverage for services or treatments, unexpected bills, hefty out-of-pocket costs and the dizzying complexity of navigating coverage, among other issues.

While backlash to the industry has mounted since the shooting, Holz said the negative stock reaction will likely wind up being “fairly short-lived.” He added that he does not expect insurance companies to make material changes to their policies in response to the killing. 
“Do I think companies do anything proactively different on the back of this? No,” Holz said. 

Booking photo of Luigi Mangione in Huntingdon, Pennsylvania.
Source: PA Department of Corrections

New York prosecutors charged Mangione with second-degree murder, criminal possession of a loaded gun and other crimes Monday night, hours after his arrest in Altoona, Pennsylvania. The New York charges followed Mangione’s first court appearance in Pennsylvania on separate gun and forgery counts.
Mangione, a private-school valedictorian and Ivy League graduate who belongs to an influential Maryland family, was held without bail after his arraignment Monday evening.
In a court hearing Tuesday afternoon, Mangione refused to waive his right to challenge his extradition to New York City. A judge denied Mangione’s bail, sending him back to a Pennsylvania prison for the time being.
At the time of his arrest, Mangione was carrying handwritten pages that criticized the U.S. health-care industry and singled out UnitedHealthcare, law enforcement officials told NBC News.
“I do apologize for any strife or traumas but it had to be done. Frankly, these parasites simply had it coming,” Mangione wrote, NBC reported.
Authorities are still investigating the motive for the shooting, which will “come out as this investigation continues to unfold over the next weeks and months,” New York City Police Commissioner Jessica Tisch told NBC’s “TODAY” show on Tuesday. But she noted that Mangione’s note had “anti-corporatist sentiment, a lot of issues with the health care industry.”  

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Adidas’ headquarters in Germany was raided in connection with a tax investigation.
Authorities are probing customs and tax regulations for products imported into Germany over a five-year period that began in October 2019.

The “Arena” office building at the headquarters of the sporting goods manufacturer adidas AG is reflected in an artificial lake.
Daniel Karmann | Picture Alliance | Getty Images

Adidas’ German headquarters was raided on Tuesday in connection with a yearslong tax investigation, the company confirmed to CNBC in a statement. 
Authorities are investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August of this year, a spokesperson said. 

Offices at the company’s headquarters in Herzogenaurach, along with other locations, were searched. Adidas said it has provided investigators with relevant documents and information and has previously been in contact with customs authorities about the matter over the past several years.
“The company does not expect any significant financial impact in connection with the investigation,” Adidas said in the statement. 
The company said it “continues to work closely with the customs authorities to also clarify issues arising from different interpretations of German and European law.”
The tax investigation is the latest scandal to hit the sneaker maker after its disastrous breakup with Ye, the rapper formerly known as Kanye West, over antisemitic comments he made.
No additional details about the tax investigation were immediately known. Shares were up slightly in extended trading.

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On the night of December 7th San Francisco’s Palace of Fine Arts, with its lakeside colonnade echoing a Roman ruin, turned into Mar-a-Lago, as Silicon Valley’s newly emboldened right-wingers gathered for a Christmas bash organised by the All-In podcast. The festive good cheer did not extend to everyone; The Economist in particular was made to feel most unwelcome. But not before being privy to a riotous celebration of how a clique of billionaires—the so-called PayPal Mafia—helped clinch Donald Trump’s election victory and has taken Washington by storm. More

Watch Cities of Success: Denver/Boulder
Watch Cities of Success: Nashville

Salt Lake City became a tech hub after the 2002 Olympics, attracting investment, talent and business to Utah’s “Silicon Slopes.”
The Games inspired projects that boosted engineering graduates and brought in big tech names such as Adobe, strengthening Utah’s tech sector.
With the city set to host the Olympics again in 2034, Utah will invest $31 million in upgrades and expects billions in economic benefit.

Spectators file into the Olympic Medal Plaza in downtown Salt Lake City, Utah, during the 2002 Olympics. Buildings are draped with Olympic athletic figures, and the Olympic rings glow on the mountainside above the city, Feb. 16, 2002.
AFP Photo/George Frey via Getty Images

This story is part of CNBC’s quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.
Salt Lake City has grown from a winter sports venue to a vibrant technology hub in just two decades, leveraging the legacy of the 2002 Winter Olympics to transform into one of America’s fastest-growing business destinations.

Known as part of Utah’s “Silicon Slopes,” the city has become a magnet for entrepreneurial spirit, venture capital and a flourishing workforce. Over the past decade, wages have risen by 51%, and the population has increased by 10%, according to the Census Bureau.
Former Utah Gov. Michael Leavitt credits the Olympics with spurring major infrastructure projects in Salt Lake City, attracting technology talent and establishing an economic legacy that continues to shape the region’s identity.
“The Games were a great catalyst. And big economic growth needs a catalyst like that,” Leavitt told CNBC for the upcoming “Cities of Success: Salt Lake City” special, premiering Tuesday at 10 p.m. ET.

A catalyst for economic growth

In 2002, the world watched as Salt Lake City welcomed athletes and spectators to the Winter Olympics. But for Leavitt, who served as governor from 1993 to 2003, the Games meant much more than 17 days of sporting excitement. 
“The 17 days of the Games is very important,” Leavitt said. “But it’s what happens in the seven or eight years in advance — and what happens in the 10 years after — that ultimately makes the Games a worthwhile experience, both economically and culturally.”

The 2002 Games utilized 10 facilities, all of which continue to serve the community and attract major events, including the Olympic Oval, a premier speed skating venue still used by aspiring Olympians today. 

The Olympic Oval speed skating facility in Kearns, Utah, near Salt Lake City. The facility is home to world-class speed skating events.

The multimillion-dollar facility is said to have the “fastest ice on Earth” by athletes who have broken records on it.
Experts say the high altitude — more than 4,600 feet above sea level — reduces air resistance, which may help give skaters an edge when it comes to speed.
In preparation for the Games, Leavitt said, Utah invested in infrastructure improvements, including light rail and major highways, creating lasting benefits for both residents and visitors.
“It’s a lot like having a party at your house — a lot gets done with that deadline,” Leavitt told CNBC. “We competed with the world and realized we can win.”
Salt Lake City’s 2002 Olympics cost about $2 billion and turned a profit. The University of Utah’s Kem C. Gardner Policy Institute reports the state’s allocation for the Games resulted in a $164 million surplus, with $59 million returned to taxpayers.
In the 15 years following the Games, skier visits to Utah increased by 43%, hotel and lodging revenue grew by 70%, and visitor spending soared by 66%, according to the Gardner Institute.

From Olympic host to thriving tech hub

USA’s Todd Lodwick climbs the hill in front of the Olympic Rings during the start in the Men’s Nordic Combined team relay at Soldier Hollow, near Salt Lake City, Utah, Feb. 17, 2002.
Photo by Anacleto Rapping/Los Angeles Times via Getty Images

“[The early 90s] was at a time when technology was just beginning to emerge,” Leavitt said. “Up until that point, Utah had been both agriculturally based as well as defense — but there was an ambition on our part to become a tech capital.”
During preparations for the Olympics, Leavitt met with Adobe co-founder and Salt Lake City native John Warnock in Silicon Valley to discuss building a tech community in Utah.
Leavitt recalled a comment Warnock made to him: “If you want [me] to come to Utah, I need engineers.”
Acting on Warnock’s advice, in 2001, Leavitt and the state of Utah launched the Engineering and Computer Science Initiative. The program aimed to improve higher education in these fields by expanding faculty and programs, ultimately doubling the number of engineering and computer science graduates over two decades with a cumulative $40.1 million investment.
With state funding, colleges and universities rose to the challenge, aligning programs with student interests and industry demands. Since then, public and private investments have continued to grow, driven by the region’s increasing need for tech workers.
Adobe years later acquired Utah-based Omniture for $1.8 billion, signaling Utah’s capacity to build competitive tech enterprises, Leavitt said.
“It was the combination of a clear vision, dramatically ratcheting up the number of engineers we were educating, and having the Olympics and a place they wanted to live,” Leavitt said. “All of that came together into what’s become one of the most robust economies in the country around technology.”

Looking ahead to 2034

With the 2034 Winter Games set to return to Salt Lake City, Utah aims to build on its existing infrastructure with an estimated $31 million in upgrades — a modest cost compared with the $286.7 million spent in 2002.
The state expects the upcoming Games to generate $6.6 billion in economic activity, create 42,000 job-years of employment — the equivalent of 4,200 full-time jobs for 10 years — and add nearly $3.9 billion to Utah’s economy, solidifying the Olympics’ role in Utah’s flourishing tech landscape.
“We now have advantages we didn’t have,” Leavitt said. “We have all of the infrastructure that’s there, and we have a reputation. The Games will be done well in 2034. There’s just no question about it.”
Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032. More

Women’s 3×3 basketball league Unrivaled has signed a deal with Baltimore-based Under Armour.
The retailer will provide apparel for both on and off the court.
Unrivaled kicks off its first season Jan. 17 in Miami.

The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas.
Brandon Bell | Getty Images

The pieces are coming together for the startup basketball league Unrivaled.
The 3×3 women’s hoops league announced Tuesday that it has signed a multiyear deal for Under Armour to become its official uniform partner and performance outfitter. This follows the league announcing a number of recent big player signings and reaching a media broadcast deal in October with TNT Sports.

Financial terms of the deal were not provided, but Under Armour will provide all players, coaches and staff with performance apparel and accessories both on and off the court.
“We couldn’t be more thrilled to partner with Unrivaled to outfit some of the best women’s basketball players in the world as they compete on this exciting new stage,” said Sean Eggert, Under Armour senior vice president of global sports marketing.
The retailer said that all players who do not have an active shoe deal will have Under Armour basketball footwear options available to them. Additionally, Under Armour will give players the opportunity to create custom products.

Breanna Stewart #30 of the New York Liberty dribbles the ball during the game against the Indiana Fever on May 16, 2024 at Gainbridge Fieldhouse in Indianapolis, Indiana. 
Nathaniel S. Butler | National Basketball Association | Getty Images

Unrivaled will kick off its inaugural season Jan. 17 in Miami. The league has positioned itself as a destination for WNBA stars to play basketball in the U.S. during the offseason.
In the past, many WNBA players have had to go overseas to play in the offseason as a way to supplement the income. Starting salary in the WNBA is $64,154 according to ESPN.

Unrivaled has signed 36 top players by offering attractive financial incentives that include equity. The league said it offers the highest average salaries in women’s professional sports league history. It’s being backed by a number of investors.
This latest deal comes as Baltimore-based Under Armour is in the midst of a turnaround effort after founder Kevin Plank took the helm again this past March. Former Marriott executive Stephanie Linnartz had been in the role for barely a year before she was ousted; she was the second CEO the company had cycled through in less than two years.
Over the past few years, the brand has struggled to keep up with competition and drive full-price sales, relying on promotions and the off-price channel to move its products.
Before she left, Linnartz had been trying to market more to women and improve the product offering, but when Plank retook the helm, he walked that strategy back and said the company would be doubling down on its men’s apparel business. He later announced a turnaround plan that centers on making Under Armour a premium brand and pulling back on discounting so it can improve profits and boost demand.
Last month, the company saw a bright spot when reporting fiscal second-quarter earnings. It lifted its annual profit forecast and Plank said the turnaround is “beginning to gain traction.” Still, the stock is down about 81% from its all-time high on Sept. 17, 2015.
Under Armour’s deal with Unrivaled offers a glimpse into where the company is putting its money and, perhaps, indicates it wants to focus more on female athlete as it looks to capitalize on the hype of women’s sports to reenergize the brand.
Under Armour currently has partnerships with top women’s college programs such as the University of South Carolina, Notre Dame, Maryland and Utah.
“As a brand, we have a long history of investing in women’s basketball, from the grassroots level all the way up to the pros,” Eggert said.

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