Connect with us

Technologies

Apple’s AR/VR Headset: What Could Be Coming in 2023

The company’s next big product should arrive next year. Here’s what we expect.

This story is part of Focal Point iPhone 2022, CNET’s collection of news, tips and advice around Apple’s most popular product.

Apple has been integrating augmented reality into its devices for years, but the company looks like it will leap right into the territory of Meta, Microsoft and Magic Leap with a long-expected mixed-reality headset in 2023.

The target date of this AR/VR headset keeps sliding, with the latest report in early December from noted analyst Ming Chi-Kuo suggesting an arrival in the second half of 2023. With an announcement event that could happen as soon as January, we’re at the point where every Apple event seems to feel like the one where it could pull the covers off this device at last. Bloomberg’s Mark Gurman reported in early January that’s he’s heard the company is aiming to unveil the headset in the spring ahead of the annual Worldwide Developers Conference in June.

2023 looks like a year full of virtual reality headsets that we originally expected in 2022, including the PlayStation VR 2 and Meta Quest 3. Apple has already laid down plenty of AR clues, hinting at what its mixed-reality future could hold and has been active in AR on its own iPhones and iPads for years.

As far as what its device could be like, odds are strong that the headset could work from a similar playbook as Meta’s recent high-end headset, the Quest Pro, with a focus on work, mixed reality and eye tracking onboard.

Here’s what we’re expecting.

Is its name Reality Pro? Is the software called xrOS?

The latest report from noted Apple reporter Mark Gurman at Bloomberg suggests the operating system for this headset could be called “xrOS,” but that may not indicate the name of the headset itself. Recent trademark filings reported by Bloomberg showed the name “Reality” showing up a lot: Reality One, Reality Pro and Reality Processor. Apple’s existing AR software framework for iOS is named RealityKit, and previous reports suggested that “Reality OS” could be the name for the new headset’s ecosystem.

No one really expected the Apple Watch’s name (remember iWatch?), so to some degree, names don’t matter at this point. But it does indicate that Apple’s moving forward on a product and software, for sure.

One of several headsets?

The headset has been cooking for a long while. Reports have been going around for several years, including a story broken by former CNET Managing Editor Shara Tibken in 2018. Apple’s been building more advanced AR tools into its iPhones and iPads for years, setting the stage for something more.

Whatever the headset might become, it’s looking a lot more real lately. A detailed report from The Information earlier this year discussed likely specs, which include what Bloomberg’s Mark Gurman says is Apple’s latest M2 chip. According to another report from Bloomberg earlier this year, Apple’s board of directors have already seen a demonstration of the mixed-reality headset.

The expected arrival of this headset has kept sliding for years. Kuo previously predicted that Apple’s VR-AR headset would arrive in the fourth quarter of 2022 with Wi-Fi 6 and 6E support. But this VR-type headset could be the start of several lines of products, similar again to how Meta has been targeting future AR glasses. Kuo has previously predicted that Apple smart glasses may arrive in 2025.

Apple could take a dual headset approach, leading the way with a high-end AR-VR headset that may be more like what Meta has done with the Quest Pro, according to Bloomberg’s Gurman. Gurman also suggests a focus on gaming, media and communication on this initial first-wave headset. In terms of communication, Gurman believes FaceTime using the rumored headset could rely on Memoji and SharePlay: Instead of seeing the person you’re talking to, you’d see a 3D version of their personalized Memoji avatar.

Eventually, Apple’s plans for this headset could become larger. The company’s “goal is to replace the ‌iPhone‌ with AR in 10 years,” Kuo explained in a note to investors, seen by MacRumors. The device could be relatively lightweight, about 300 to 400 grams (roughly 10.5 to 14 ounces), according to Kuo. That’s lighter than Meta’s Oculus Quest 2. However, it’s larger than a normal pair of glasses, with early renders of its possible design looking a lot more like futuristic ski goggles.

Read more: The Metaverse is Just Getting Started: Here’s What You Need to Know

The headset could be expensive, maybe as much as $2,000 or more, with 8K displays, eye tracking and cameras that can scan the world and blend AR and VR together, according to a report from The Information last year. That’s to be expected, considering the Quest Pro costs $1,500 and AR headsets like the Magic Leap 2 and Hololens 2 are around $3,000.

It’s expected to feature advanced processors, likely based on Apple’s recent M2 chips, and work as a stand-alone device. But it could also connect with Apple’s other devices. That’s not a surprising move. In fact, most of the reports on Apple’s headset seem to line right up with how VR is evolving: lighter-weight, with added mixed-reality features via more advanced pass-through cameras. Much like the Quest Pro, this will likely be a bridge to future AR glasses efforts.

Previous reports on Apple’s AR/VR roadmap suggested internal disagreements, or a split strategy that could mean a VR headset first, and more normal-looking augmented reality smart glasses later. But recent reports seem to be settling down to tell the story of a particular type of advanced VR product leading the way. What’s increasingly clear is that the rest of the AR and VR landscape is facing a slower-than-expected road to AR glasses, too.

VR, however, is a more easily reachable goal in the short term.

Apple has been in the wings all this time without any headset at all, although the company’s aspirations in AR have been clear and well-telegraphed on iPhones and iPads for years. Each year, Apple’s made significant strides on iOS with its AR tools. It’s been debated how soon this hardware will emerge: this year, the year after or even further down the road. Or whether Apple proceeds with just glasses, or with a mixed-reality VR and AR headset, too.

I’ve worn more AR and VR headsets than I can even recall, and have been tracking the whole landscape for years. In a lot of ways, a future Apple AR headset’s logical flight path should be clear from just studying the pieces already laid out. Apple acquired VR media-streaming company NextVR in 2020 and it bought AR headset lens-maker Akonia Holographics in 2018.

I’ve had my own thoughts on what the long-rumored headset might be, and so far, the reports feel well-aligned to be just that. Much like the Apple Watch, which emerged among many other smartwatches and had a lot of features I’d seen in other forms before, Apple’s glasses probably won’t be a massive surprise if you’ve been paying attention to the AR and VR landscape lately.

Remember Google Glass? How about Snapchat’s Spectacles? Or the HoloLens or Magic Leap? Meta is working on AR glasses too, as well as Snap and also Niantic. The landscape got crowded fast.

Here’s where Apple is likely to go based on what’s been reported, and how the company could avoid the pitfalls of those earlier platforms.

Apple declined to comment on this story.

Launch date: Looks likely for 2023

New Apple products tend to be announced months before they arrive, maybe even earlier. The iPhone, Apple Watch, HomePod and iPad all followed this path.

The latest reports from Kuo point to possible delays for the release of the headset to the second half of 2023, but an event announcing the headset could happen as soon as January. That timeframe would make a lot of sense, giving time for developers to understand the concept well ahead of the hardware’s release, and even possibly allowing for Apple’s WWDC developer conference (usually in June) to go over specifics of the software.

Either way, developers would need a long head start to get used to developing for Apple’s headset, and making apps work and flow with whatever Apple’s design guidance will be. That’s going to require Apple giving a heads-up on its hardware well in advance of its actual arrival.

An Apple headset could be a lot like the Meta Quest, but higher end

There’s already one well-polished success story in VR, and the Quest 2 looks to be as good a model as any for where future headsets could aim. Gurman’s report makes a potential Apple VR headset sound a lot like Facebook’s stand-alone device, with controller-free hand tracking and spatial room awareness that could be achieved with Apple’s lidar sensor technology, introduced on the iPad Pro and iPhone 12 Pro.

Apple’s headset could end up serving a more limited professional or creative crowd. But it could also go for a mainstream focus on gaming or fitness. My experiences with the Oculus Quest’s fitness tools feel like a natural direction for Apple to head in, now that the Apple Watch is extending to subscription fitness training, pairing with TVs and other devices.

The Oculus Quest 2 (now officially the Meta Quest 2) can see through to the real world and extend some level of overlap of virtual objects like room boundaries, but Apple’s headset could explore passthrough augmented reality to a greater degree. I’ve seen impressive examples of this in headsets from companies such as Varjo. It could be a stepping stone for Apple to develop 3D augmented reality tech on smaller glasses designs down the road.

Right now, there aren’t any smart glasses manufacturers able to develop normal-looking glasses that can achieve advanced, spatially aware 3D overlays of holographic objects. Some devices like the nReal Light have tried, with mixed success. Meta’s first smart glasses, Ray-Ban Stories, weren’t AR at all. Meta is working on ways to achieve that tech later on. Apple might take a similar approach with glasses, too.

The VR headset could be a ‘Pro’ device

Most existing reports suggest Apple’s VR headset would likely be so expensive — and powerful — that it will have to aim for a limited crowd rather than the mainstream. If so, it could target the same business and creative professionals that more advanced VR headsets like the Varjo XR-3 and Meta Quest Pro are already aiming for.

I tried Varjo’s hardware. My experience with it could hint at what Apple’s headset might also be focusing on. It has a much higher-resolution display (which Apple is apparently going to try to achieve), can blend AR and VR into mixed reality using its passthrough cameras, and is designed for pro-level creative tools. Apple could integrate something similar to its lidar sensors. The Quest Pro does something similar, but in a standalone device without as high-end a display.

Varjo’s headset, and most professional VR headsets, are tethered to PCs with a number of cables. Apple’s headset could work as a standalone device, like the Quest 2 and Quest Pro, and also work when connected to a Mac or iPad, much like the Quest 2 already does with Windows gaming PCs. Apple’s advantage could be making a pro headset that is a lot more lightweight and seamlessly standalone than any other current PC-ready gear. But what remains unknown is how many apps and tools Apple will be able to introduce to make its headset feel like a tool that’s truly useful for creators.

Controls: Hand tracking or a small wearable device?

The Information’s previous reports on Apple’s headset suggest a more pared-down control system than the elaborate and large game controller-like peripherals used by many VR headsets right now. Apple’s headset should work using hand tracking, much like many VR and AR headsets already enable. But Apple would likely need some sort of controller-type accessory for inputs, too. Cracking the control and input challenge seems to be one of the bigger hurdles Apple could face.

Recent patent filings point to a possible smart ring-type device that could work for air gestures and motion, and maybe even work with accessories. It’s also possible that Apple might lean on some of its own existing hardware to act as inputs, too.

Could that controller be an Apple Watch? Possibly, but the Apple Watch’s motion-control capabilities and touchscreen may not be enough for the deeper interactions an Apple headset would need. Maybe iPhones could pair and be used as controllers, too. That’s how Qualcomm is envisioning its next wave of phone-connected glasses.

Future AR smart glasses may also be in the works

Getting people to put on an AR headset is hard. I’ve found it a struggle to remember to pack smart glasses, and find room to carry them. Most of them don’t support my prescription, either. Developer-focused AR glasses made by Snap that I tried at home show what everyday AR glasses could look like someday, but they’re still a work in progress.

Qualcomm’s plans for AR glasses show a wave of devices arriving between 2023 and 2025, but at this point no one has been able to crack making a perfect pair. Software, battery life and even common cross-platform interfaces remain a big challenge.

Kuo’s prediction of AR glasses coming a few years after a VR-AR goggle-type headset would line up with what other companies are promising. The challenges with AR glasses are a lot greater than VR. No one’s figured out how wearing them all the time would work, or how you’d interact with virtual objects: Hand tracking? A watch or a ring? Voice? Neural inputs?

Apple always touted the Apple Watch, first and foremost, as a “great watch.” I would expect the same from its glasses. If Apple makes prescription glasses and makes them available, Warby Parker-style, in seasonal frames from its Apple Stores, that might be enough for people if the frames look good. Apple’s VR headset, according to Gurman, will also offer prescription lenses. That could be a stepping stone to developing glasses later on.

Google acquired smart glasses manufacturer North in 2020, which made a prescription, almost normal set of eyewear. North’s concept for glasses might be too similar to Google Glass for Apple’s tastes, but the idea of AR glasses doubling as functional glasses sounds extremely Apple-like. More recently, Vuzix’s planned smart glasses for 2021 show how far the tech has shrunken down, but even those planned glasses won’t have the ability to spatially scan the world and overlay augmented reality: They’ll be more like advanced glasses with heads-up displays and 3D audio.

A report from The Information in 2020 said new AR lenses were entering a trial production phase for Apple’s AR hardware (9to5Mac also broke the report down). These lenses sound much closer to normal glasses than current AR headsets allow, but when would those be ready?

Could Apple make its first smart glasses something more basic, letting Apple slowly add more AR features over time and let newcomers settle into the experience? Or would Apple try to crack the AR challenge with its first pair of glasses? Augmented reality is a weird concept for eyewear, and potentially off-putting. Maybe Apple will aim for subtlety. The original Apple Watch was designed to be glanced at for just 5 seconds at a time.

A recent patent filing also showed Apple looking to solve vision conditions with adaptive lenses. If true, this could be the biggest killer app of Apple’s intelligent eyewear.

Are the AirPods Max a sign of how expensive a headset could be?

The business-focused HoloLens and Magic Leap cost thousands of dollars. Current VR headsets have trended towards $500 or more.

The latest price reports suggest something between $2,000 and $3000, which is in the territory of business-focused AR headsets like the HoloLens 2, or business-creative VR headsets like those from Varjo. An analysis from TrendForce published in February also estimates that an Apple headset’s hardware would cost in the thousands, and it predicts that Apple would employ a “monthly subscription-based software solution.”

Apple’s headphones, the AirPods Max, indicate that the pricing could climb high. At $549, they cost more than a PlayStation 5. And those are just headphones. A pair of smart glasses, or an advanced VR headset, would be a lot more advanced.

iPhone-connected, too?

Qualcomm’s AR and VR plans telegraph the next wave of headsets: Many of them will be driven by phones. Phone-powered glasses can be lighter and just have key onboard cameras and sensors to measure movement and capture information. Meanwhile the phone does the heavy lifting and doesn’t drain headset battery life.

Apple’s star device is the iPhone, and it’s already loaded with advanced chipsets that can do tons of AR and computer vision computation. It could already power an AR headset right now; imagine what could happen in another year or two.

Apple could also have its own high-end dedicated chip in its first wave of VR and AR headsets, as reports suggest, but they’ll also undoubtedly dovetail with more advanced processors in Apple’s phones, tablets and Macs. Over time, this could mean smaller glasses that lean on connecting to other Apple devices, or the cloud.

How Apple could blend the real world with AR and VR

Apple already dabbles with AR overlays with real world locations: QR code and NFC-enabled App Clips can launch experiences from real-world locations with a tap or scan. These micro apps are made to work with AR, too: With glasses or an AR headset, they could eventually launch interactions at a glance.

Maybe QR codes can help accelerate AR working in the “dumb” world. Apple’s iPhones also have a U1 chip that can be used to improve accuracy in AR object placement, and also to more quickly locate other Apple devices that have the U1 chip, too.

Apple’s AirTags arrived in 2021 with features similar to Samsung’s SmartTags Plus that use similar ultrawideband technology. These tags could be seen via an iPhone app using AR, which could possibly extend into Apple’s future VR or AR headsets. If all Apple’s objects recognize each other, they could act as beacons in a home. The U1 chips could also be indoor navigation tools for added precision.

Microsoft’s collaborative mixed-reality platform, Mesh, shows how meetings with people in virtual spaces could happen instantly and in work-like environments. Apple already enables multiperson AR in real places, but a necessary next step would be to allow a platform for collaboration in AR and VR like Microsoft is developing.

Apple’s depth-sensing hardware is already here

Apple is already deeply invested in camera arrays that can sense the world from short and long distances. The front-facing TrueDepth camera, which Apple has used on every Face ID iPhone since the X, is like a shrunken-down Microsoft Kinect and can scan a few feet out, sensing 3D information with high enough accuracy to be used for a secure face scan. Apple’s lidar technology on its recent iPhones and iPads can scan out much further, several meters away. That’s the range that glasses would need.

Apple’s existing lidar technology, combined with cameras, is already good enough to scan environments and 3D objects. Add to this the wider-scale lidar scanning Apple is doing in Maps to enable overlays of real-world locations with virtual objects via a technology called Location Anchors, and suddenly it seems like the depth-scanning Apple is introducing could expand to worldwide ambitions.

Apple’s new Mac chips already point toward VR-AR compatibility

Apple’s M1-enabled Macs and those since are technically a lot more capable of the power needed to run AR and VR, and they share similarities to how iPhone and iPads handle graphics. Developing a common groundwork across devices could allow a headset to feasibly run on an iPhone, iPad or Mac, making it a universal Apple device accessory.

That would be essential if Apple intends on its VR or AR headsets to have any role in creative workflows, or be used for games or apps. It’s one of the limitations of existing VR headsets, which need to run off particular Windows gaming PCs and still don’t play that well with iOS or Android phones.

Look to AirPods for ease of use — and audio augmented reality

I’ve thought about how the AirPods’ comfort — and weird design — was an early experiment in wearing Apple’s hardware directly on our faces — and it was a success. It proved that doing so could be accepted and become normal. AirPods are expensive compared to in-box wired buds, but they’re also utilitarian. They’re relaxed. If Apple’s working on AR or VR headsets, they’ll need to feel the same way.

The AirPod Pros’ spatial audio, which AirPods Max and AirPods 3 also have, points to where future ideas could head. Immersive audio is casual, and we do it all the time. Immersive video is hard and not always needed. I could see AR working as an audio-first approach, like a ping. Apple glasses could potentially do the world-scanning spatial awareness that would allow the spatial audio to work. In the meantime, Apple’s already developing the spatial audio tech that its VR headset would need.

Apple Watch and AirPods could be great companions

Apple’s already got a collection of wearable devices that connect with the iPhone, and both make sense with glasses. Its AirPods can pair for audio (although maybe the glasses have their own Bose Frames-like audio, too), while the Watch could be a helpful remote control. The Apple Watch already acts as a remote at times, for the Apple TV or for linking up with the iPhone camera. Apple’s future headsets could also look to the Watch and expand its display virtually, offering enhanced extras that show up discreetly, like a halo. Or they could use the Watch as some sort of controller.

The Apple Watch could also provide something that it’ll be hard to get from hand gestures or touch-sensitive frames on a pair of glasses: haptics. The rumbling feedback on the Watch could lend some tactile response to virtual things, possibly.

There’s already a low-cost pair of phone goggles, the HoloKit X, that explores these ideas. It uses an iPhone for the headset’s display and cameras and can channel spatial audio to AirPods, and use an Apple Watch for gesture controls. Apple could do the same.

Could Qualcomm and Apple’s reconciliation also be about XR?

Qualcomm and Apple are working together again on future iPhones, and I don’t think it’s just about modems. 5G is a key feature for phones, no doubt. But it’s also a killer element for next-gen AR and VR. Qualcomm has already been exploring how remote rendering could allow 5G-enabled phones and connected glasses to link up to streaming content and cloud-connected location data. Glasses could eventually stand on their own and use 5G to do advanced computing, in a way like the Apple Watch eventually working over cellular.

Qualcomm’s chipsets are in almost every self-contained AR and VR headset I can think of (Meta Quest, HoloLens 2, a wave of new smart glasses, the latest version of Google Glass, Vive Focus). Will Apple’s tech dovetail at all with Qualcomm’s cross-device platforms?

Technologies

OpenAI chief Sam Altman outlines why the AI sector is urging a slowdown: risk of losing control

Sam Altman and Dario Amodei call for a measured pace in AI development, proposing safety frameworks and international coordination to avoid losing control, while U.S. and Chinese tensions underscore the urgency.

OpenAI’s Sam Altman offered the most thorough remarks to date on potential AI safety frameworks, following his alignment with Anthropic’s Dario Amodei and Elon Musk in urging a temporary slowdown of the sector. Tensions surrounding AI safety have surged after an Anthropic researcher resigned last week, claiming that developers feared the technology could “cause humanity’s demise by the end of the decade,” a warning that spurred similar alarm among OpenAI staff and other lab members. The leaders of major AI firms have recently shown uncommon agreement, as Altman and Musk jointly endorsed Amodei’s essay calling for a measured pace in advancing the most powerful AI models. AI‑related stock prices fell on Monday as investors reacted to the statements, while U.S. President Donald Trump rejected the CEOs’ caution on Sunday, arguing that a slowdown would hinder America’s dominance in AI compared with China. Sam Altman outlines two potential disastrous outcomes for AI development. Altman stated in a late‑night X post that a federal framework establishing uniform safety standards for frontier AI is welcome, emphasizing that “no level of American competitive pressure can excuse reckless behavior.” He warned that AI advancement might lead to loss of control over future outcomes and could concentrate excessive power in the hands of a single individual or corporation. At the same time, Washington legislators are rushing to respond to demands for regulatory safeguards. The developments occur as Anthropic and OpenAI prepare for what could be historic initial public offerings, with Altman stating in a Fortune interview on Saturday that the companies will not pursue an IPO in 2026. Amodei’s three‑step plan. A primary safety concern involves models gaining the capacity to enhance their own performance, a process called recursive self‑improvement (RSI). He noted that since early summer AI has been progressing rapidly, largely because AI systems are now capable of creating the next generation of AI themselves. He warned that without oversight, the technology could outpace our capacity to comprehend and control it, making careful, possibly restrained, development essential. He outlined a three‑step approach designed to slow development while preserving commercial benefits and maintaining the United States’ competitive edge in AI. The plan calls for every frontier AI company to provide external evaluators with access comparable to that of employees — a commitment Anthropic has already made — and urges all such labs to adopt shared safety standards, curb uncontrolled AI acceleration, and coordinate globally. On Saturday, Altman posted on X that he concurred with Amodei’s call for AI firms to “pace the frontier,” adding that adopting independent evaluators with employee‑level access is a worthwhile step and that his company will follow suit. Altman said in a Monday post that consistent regulations to manage frontier risk — such as independent auditors — are valuable, but clarified that “pacing” does not equate to halting progress, which remains swift and ongoing. He concluded that the costs of pacing are justified, asserting that no level of American competitive pressure can excuse reckless actions that let capabilities outpace alignment and monitoring. He noted that governmental assistance will be needed for international coordination, but emphasized that the industry should first act independently. Coordinating AI safety measures and a sector‑wide slowdown with Chinese AI developers will present significant hurdles. The United States and China continue a rivalry for AI supremacy, with tensions rising as Chinese models become increasingly sophisticated and widely adopted. He added that the toughest aspect of his proposal is the possibility that rival nations may decline to adopt similar measures. He noted that the long‑term goal would be collaborative effort to impose a speed limit on AI progress, according to an interview with CBS News’ “Sunday Morning.” He acknowledged that achieving such a limit would be challenging due to strong incentives to get ahead and the military advantages involved, admitting uncertainty about feasibility but urging an attempt. The essay has attracted criticism in China, with state‑owned Global Times stating on Monday that “Amodei’s proposals aim to cast China’s legitimate AI development as a threat and exacerbate U.S.–China confrontation.” China’s Foreign Ministry responded on Monday, labeling the CEOs’ remarks as “fearmongering.”

Continue Reading

Technologies

Novo CEO tells CNBC why drugmaker is rebranding, needs to ‘rethink’ obesity strategy

The Danish drugmaker called the changes the beginning of a new chapter for the company, which faces stiff competition from Eli Lilly.

Novo Nordisk

The Danish drugmaker called the changes the beginning of a new chapter, as it has been grappling with stiff competition from chief rival Eli Lilly

In an exclusive interview with CNBC, Novo CEO Mike Doustdar said the rebrand and culture shift are “part of the same package” for the company to evolve its strategy as it tries to win back customers from Lilly.

“I think there’s no secret that over the last four or five years, the external environment and what has happened to Novo Nordisk has really made us reflect how we need to readjust and rethink about the next decade to come and what shifts are needed in our strategic direction,” he told CNBC.

Doustdar said the “work is cut out for us,” adding that Novo needs to improve several aspects – from research and development and manufacturing to sales and marketing – to be able to compete in the obesity drug market.

Shares of Novo have dropped about 15% this year despite the successful launch of the oral version of Wegovy, which surpassed 3 million prescriptions as of June. The company recently scrapped three trials on an experimental cardiovascular drug. That challenge came as it continues to lag in the obesity space with 38.8% market share compared to Lilly’s 60.9% in the second quarter, according to a Lilly earnings presentation citing IQVIA data.

In a release, Novo also announced a broader company rebrand focused around the phrase “Lasting Health Starts Now,” which promotes the idea that patients should make progress toward long-term well-being immediately rather than later. The company said the marketing is a bid to build relevance and trust with the public and other stakeholders, and bring “breakthrough science closer to people’s daily lives.”

When asked whether the rebrand and cultural overhaul were driven by Novo’s recent market share losses in obesity, Doustdar said the changes were less about competitive setbacks and more about adapting to a dramatically different operating environment.

He said the rapid growth of obesity treatments has transformed Novo’s patient base and shifted the market toward a more consumer-oriented model, where patients move on and off therapies more frequently than in traditional diabetes care. As a result, Doustdar said Novo needs to become more focused on meeting patients where they are, while increasing the speed and clarity of its decision-making to keep pace with the evolving market.

“Our operating environment phenomenally changed compared to just 10 years ago,” he told CNBC.

Novo Nordisk will remain the legal name for the company, according to the release. That original name dates back to the 1989 merger of two competing Danish pharmaceutical companies: Novo Terapeutisk Laboratorium and Nordisk Insulinlaboratorium.

The drugmaker said its corporate culture will be based on a new set of four principles that will help it gain advantages in an increasingly competitive market where more of its products have gone direct-to-consumer.

Those tenets are innovating with patients as the primary focus, raising the company’s performance to “create greater value for all stakeholders,” setting clearer priorities and simpler workflows and never compromising on patient safety and ethics.

“When you think about strategy, that’s really the the journey you’re taking and the direction you’re setting the company to go forward with,” Doustdar said. “But you also need behaviors. You need a cultural element that allows your colleagues and yourself to really make sure that a strategy gets executed.”

Despite its challenges, Novo has had one significant tailwind this year in the launch of the oral version of Wegovy. On top of its explosive launch, the pill had a head start over a rival weight loss pill from Lilly called Foundayo.

Doustdar said Novo has maintained “a lion’s share” of the oral market even with competition, noting that physicians find the Wegovy pill to be more effective than Lilly’s, with around 17% of weight loss.

Continue Reading

Technologies

Iran Claims It Shot Down U.S. Advanced Drone Near Hormuz as Middle East Tensions Rise

Iran says it shot down an advanced U.S. drone over the Strait of Hormuz amid rising tensions and stalled diplomacy. President Trump linked the conflict to potential oil control, citing the Venezuela deal and predicting lower gas prices if the war ends.

Iran’s military announced it had shot down a sophisticated American drone above the Strait of Hormuz, marking the latest volley in a cycle of warnings and strikes between Tehran and Washington that shows no sign of easing.

The Islamic Revolutionary Guard Corps stated on Monday that its newly unveiled advanced aerospace defense system intercepted and destroyed an advanced MQ‑1 drone over the Hormuz strait, offering no further details about the drone’s mission. The MQ‑1, built by U.S. defense contractor General Atomics, has historically been flown mainly by the U.S. Air Force and the CIA.

The downing comes after a string of Iranian actions targeting U.S. unmanned naval assets in the Gulf, as the conflict, now in its seventh month, continues with little de‑escalation and diplomatic efforts over the vital waterway remain stalled.

On Sunday, President Donald Trump said the United States could keep pressing its campaign against Iran and seize control of its oil, comparing the situation to the agreement Washington reached with Venezuela earlier this year.

“We’ll ultimately get out (of the war), unless we decide to stay and keep the oil like Venezuela,” Trump remarked at the Irish Open golf championship in Ireland. He added that the revenue the U.S. gains from the Venezuela deal — which gave Washington access to about one‑fifth of Venezuela’s oil reserves — has “paid for the war many times.”

Under the August agreement, Venezuela handed over majority U.S. control of more than 65 billion barrels of oil reserves — more than twice the size of America’s own reserves — in exchange for $209 billion deposited into Venezuela’s state treasury. Secretary of State Marco Rubio said the pact would also attract roughly $100 billion in private investment to help revive the Venezuelan economy.

Trump also said on Sunday that he expects the seven‑month Iran war to conclude this year, perhaps after the November midterm elections, and insisted that gasoline prices would “drop like a rock” once the conflict ends.

He stressed that he would only accept the “right deal,” noting that Tehran has been “calling constantly” for peace talks, a claim Iran has previously rejected.

**Stalled Hormuz talks**

A planned meeting in Oman between Gulf states and Iran to discuss possible arrangements for the Strait of Hormuz — the crucial conduit for global oil and gas shipments — was postponed, Omani Foreign Minister Badr Albusaidi said on X on Sunday, citing the need for “consensus.”

Iranian and Gulf officials had been slated to meet on Monday to sign an accord establishing an Iran‑Oman shipping lane through the Strait of Hormuz, although no direct negotiations between the United States and Iran were underway at that time.

Since the war began in February, the Strait of Hormuz has been under an Iranian‑led naval blockade, later joined by U.S. forces, keeping global energy prices elevated.

A June agreement between Washington and Tehran collapsed over disagreements about the waterway, and a recent surge in attacks by Yemen’s Houthi rebels — an ally of Tehran — has given that group leverage over another key chokepoint, the Bab el‑Mandeb.

Vessels deemed non‑compliant are routinely struck by Iranian forces, while the United States periodically launches strikes on the Iranian coast to challenge the Islamic Republic’s hold on the strait.

Oil prices climbed above $100 a barrel again for the first time since May and rose further on Monday after Saudi Arabia shut a major East‑West energy pipeline following damage from Iraqi drones.

U.S. West Texas Intermediate futures gained 2.3% to $102.39 per barrel, and Brent crude, the global benchmark, rose 2.4% to $107.11 per barrel.

Continue Reading

Trending

Copyright © Verum World Media