{"id":72173,"date":"2026-09-24T07:38:22","date_gmt":"2026-09-24T11:38:22","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-eli-lilly-and-merck-secure-fda-wins-starbucks-trims-store-count\/72173\/"},"modified":"2026-09-24T07:38:22","modified_gmt":"2026-09-24T11:38:22","slug":"market-update-eli-lilly-and-merck-secure-fda-wins-starbucks-trims-store-count","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-eli-lilly-and-merck-secure-fda-wins-starbucks-trims-store-count\/72173\/","title":{"rendered":"Market Update: Eli Lilly and Merck Secure FDA Wins; Starbucks Trims Store Count"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>) received FDA approval for Onswik<\/strong>, a once-weekly insulin for type 2 diabetes, reducing patient injection frequency by over <strong>300 per year<\/strong>.<\/li>\n<li><strong>Starbucks (<a href=\"\/stock\/SBUX\">SBUX<\/a>) revised its FY26 outlook<\/strong>, now expecting <strong>440 net openings<\/strong> (down from 600-650) and announcing plans to <strong>close 250 North American stores<\/strong>.<\/li>\n<li><strong>The U.S. and China extended their trade ceasefire through January 10, 2026<\/strong>, as President Trump welcomed Xi Jinping to Washington for high-stakes bilateral talks.<\/li>\n<li><strong>Iraq is bypassing the closed Strait of Hormuz<\/strong> by trucking <strong>250,000 bpd<\/strong> of southern crude to Kirkuk for export via Turkey&#39;s Ceyhan port.<\/li>\n<li><strong>Merck (<a href=\"\/stock\/MRK\">MRK<\/a>) reported positive Phase 2b\/3 results for Remigromig<\/strong>, meeting its primary endpoint in treating diabetic macular edema (DME).<\/li>\n<\/ul>\n<h2>Pharmaceutical Breakthroughs: Lilly and Merck Lead Gains<\/h2>\n<p>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>) reached a major regulatory milestone today as the <strong>FDA approved Onswik<\/strong> (insulin efsitora alfa-gobe). This once-weekly basal insulin is indicated for adults with type 2 diabetes and is designed to provide steady insulin levels over seven days. By shifting from daily to weekly injections, patients can avoid more than <strong>300 needles annually<\/strong>, significantly reducing the treatment burden.<\/p>\n<p>Simultaneously, Merck (<a href=\"\/stock\/MRK\">MRK<\/a>) announced that its investigational antibody, <strong>Remigromig<\/strong>, met its primary endpoint in the pivotal <strong>Phase 2b\/3 BRUNELLO trial<\/strong>. The study demonstrated that the drug is non-inferior to the current standard-of-care, ranibizumab, in improving visual acuity for patients with diabetic macular edema. Merck plans to present full data at the American Academy of Ophthalmology meeting in October.<\/p>\n<h2>Retail and Tech: Starbucks Restructures; China Life Eyes AI<\/h2>\n<p>Starbucks (<a href=\"\/stock\/SBUX\">SBUX<\/a>) is aggressively pivoting its footprint under CEO Brian Niccol\u2019s turnaround strategy. The company confirmed it will <strong>shutter 250 store locations in North America<\/strong> while slashing its net opening target for fiscal 2026 to <strong>440 units<\/strong>. This restructuring follows a period of stalling sales and is part of a broader effort to renovate existing stores and improve operational efficiency.<\/p>\n<p>In the technology sector, <strong>China Life Insurance (<a href=\"\/stock\/LFC\">LFC<\/a>)<\/strong> is deepening its commitment to domestic self-reliance. The insurer announced a <strong>4.5 billion yuan ($637 million)<\/strong> investment into a new fund focused on <strong>artificial intelligence and semiconductor technologies<\/strong>. This move aligns with Beijing&#39;s push for &quot;patient capital&quot; to support strategic industries amid ongoing global trade tensions.<\/p>\n<h2>Geopolitics and Energy: Trade Truce and Supply Diversification<\/h2>\n<p>Trade relations between the world\u2019s two largest economies saw a temporary reprieve as <strong>President Trump and Xi Jinping met in Washington<\/strong>. The two nations agreed to extend a <strong>trade ceasefire through January 10, 2026<\/strong>, maintaining current tariff levels and ensuring the continued flow of rare earth minerals. The meeting comes at a critical time as both leaders navigate domestic economic pressures and regional conflicts.<\/p>\n<p>In the Middle East, energy logistics are shifting due to the ongoing closure of the <strong>Strait of Hormuz<\/strong>. The head of the <strong>Basra Oil Company<\/strong> reported that Iraq is now trucking approximately <strong>250,000 barrels per day (bpd)<\/strong> of crude from southern fields to the north for export via the <strong>Ceyhan port in Turkey<\/strong>. Meanwhile, regional security remains volatile, with the <strong>Saudi-led coalition<\/strong> reporting the interception of <strong>six ballistic missiles<\/strong> launched by Houthi forces toward the kingdom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Eli Lilly (LLY) received FDA approval for Onswik, a once-weekly insulin for type 2 diabetes, reducing patient injection 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