Hyderabad – India’s market for diabetes and weight-loss drugs is set for a shake-up as Danish drugmaker Novo Nordisk’s patent on semaglutide expires this week, triggering a wave of cheaper generics from local drugmakers and worries about uneven oversight in an overcrowded market.
More than 40 Indian firms are expected to launch more than 50 brands within weeks, analysts and doctors said, widening access in a price-sensitive market but also raising concerns about misuse and confusion among prescribers as costs fall sharply. Reuters
BP is selling its German oil refinery site in Gelsenkirchen. Picture: Reuters/ (Chris Helgren) BP set to offload oil refinery site in Germany
Bengaluru — BP said on Thursday it would sell its German oil refinery site in Gelsenkirchen to investment firm Klesch Group for an undisclosed sum and raised its cost reduction target in the latest move to simplify its portfolio and shore up its balance sheet.
The transaction forms part of the British oil major’s $20bn divestment plan aimed at cutting debt and boosting returns and is expected to save BP about $1bn of underlying operating expenditure associated with Gelsenkirchen.
BP declined to provide a value for the deal. Reuters
The company logo of CK Hutchison Holdings in Hong Kong, China. (Bobby Yip/Reuters ) CK Hutchison posts rise in annual underlying profit
Hong Kong ― CK Hutchison posted a 7% rise in 2025 underlying profit on Thursday as the market awaits updates on the company’s proposed sale of its ports business and other spin-off plans.
The Hong Kong ports-to-telecom conglomerate reported underlying profit of HK$22.3 billion ($2.8bn) on a post-IFRS 16 basis. That compared with an HK$22.9bn LSEG SmartEstimate and the HK$20.8bn booked a year earlier.
Including a one-time non-cash accounting loss, net profit fell 31% from a year earlier to HK$11.84bn. Reuters
BBVA’s alleged role in a spying scandal has returned to the spotlight. Picture:
(123RF/Leo Lintang) Spain wants to fine BBVA for role in spying scandal
Madrid — Spain’s anti-corruption prosecutor has called for BBVA to be fined €181.8m for the bank’s alleged role in a spying scandal that has rocked the country’s business world, according to a document seen by Reuters.
The case is part of a wider inquiry into the hiring by several Spanish companies of a private investigation agency run by Jose Manuel Villarejo, a former police commissioner, to carry out various allegedly illegal assignments in 2004-16.
The investigations roiled Spain’s corporate sector since they were launched in 2019 and caused some reputational damage, but without a clear effect on businesses. Reuters
Synthomer’s stock last month dropped nearly 49% as investors fretted over dilution of their shareholding. Picture: (123RF) Synthomer rises after ruling out new equity raise
Bengaluru — Speciality chemicals supplier Synthomer ruled out a new equity raise on Thursday, saying it was making progress on debt refinancing talks as the company looks to bolster its balance sheet, sending shares 75% higher.
The company also said it was raising prices to pass through big increases in underlying raw materials and energy costs since the start of the US-Israeli war against Iran.
Synthomer’s stock last month dropped nearly 49% as investors fretted over dilution of their shareholding after the company said it was considering a range of options including the possibility of raising fresh capital in a bid to support its refinancing. Reuters
Strong demand for satellite systems and launcher components boosts German space group OHB. Picture: (JAE YOUNG JU / 123rf) OHB revenue soars on satellite systems demand
Gdansk — German space group OHB reported a 21% jump in its 2025 revenue on Thursday, driven by strong demand for satellite systems and launcher components as European governments bolster their defence and strategic space capabilities.
The company said the long-term outlook was favourable, supported by record space infrastructure budgets in Germany and the EU.
The main growth driver was the space systems segment, where OHB secured its first prime contract for an ESA “L-class” mission, a complex project to detect gravitational waves
The company said it was diversifying its customer base with orders from the US commercial market and the defence sector. Reuters