Good morning, you're listening to Markets Desk.
The Middle East is back in focus as Iran and Israel exchanged strikes in what officials are calling the most serious escalation since an April ceasefire took hold. President Trump is asserting direct control over the situation, telling reporters he is calling all the shots. Markets are watching energy and defense names closely, with oil sensitive to any further deterioration in the region.
Shifting to pharma, Roche and Nurix Therapeutics have struck a two point three billion dollar licensing and collaboration deal to co-develop a BTK degrader called bexobrutideg. Nurix shares are moving sharply on the news. The deal gives Roche a foothold in a next-generation oncology approach targeting blood cancers, and it signals continued appetite among large cap pharma for cutting-edge degrader technology.
And in diabetes and obesity, Novo Nordisk presented Phase three results for CagriSema, its combination candidate, showing meaningful reductions in blood sugar and body weight across the REIMAGINE trials. Gastrointestinal side effects remain a watch item, but the data broadly supports the program's advancement, keeping Novo competitive in a space where investors have demanded consistent clinical proof.
That's the tape. Markets Desk, signing off the floor.
