Your commercial news round-up: Ozempic, Starbucks, Iron-Bru, job cuts

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Ozempic maker Novo Nordisk has forecast a drop in revenue and striking Starbucks baristas have called on customers to delete the mobile app. Meanwhile, Iron-Bru owner AG Barr has acquired Fentimans and Frobishers, and the UK services sector cut jobs in January. Read on for more!

• Maker of Wegovy and Ozempic, Novo Nordisk, has forecast a 5% to 13% drop in revenue following US President Donald Trump’s decision to lower drug prices, rising competition and the expiry of its semaglutide patent in several countries, which will allow cheaper alternatives to enter the market. Semaglutide will remain patented in Europe and Japan until 2033. Novo’s share price fell 17% on Wednesday 4 February and the stock has lost almost 50% of its value over the past year. CEO Mike Doustdar said: “Our 2026 guidance reflects a year of unprecedented pricing pressure.” Meanwhile, competitor Eli Lilly became the first pharmaceutical company worldwide to hit a $1 trillion valuation. Despite price cuts in the US, it expects sales to reach up to $83 billion, a significant increase compared with $65 billion last year.
   
• Striking Starbucks baristas have called on customers to delete the mobile app in solidarity with their campaign for a first union contract. Starbucks Workers United began its strike in November 2025 and now represents approximately 11,000 baristas in the US. In December, the union scaled the strike back, giving return to work notices at most stores, with the aim to keep several hundred to 1,000 workers on strike in a rotational basis. However, barista KC Ihekwaba explained: “What we’re asking for has not changed. We’re demanding liveable wages, stable and predictable hours, and an end to union busting. Starbucks still has not delivered on any of that.”
  
  Starbucks has downplayed the strike’s impact, claiming that fewer than 1% of the chain’s stores were ever affected. Starbucks spokesperson Jaci Anderson said: “The union has called for an unconditional return to work at nearly all of the coffeehouses on its strike list […] We see this as a positive step and hope it signals a willingness to return to the bargaining table.” Starbucks hasn’t commented on the app deletion campaign, as of Wednesday 4 February.
   
• Beverages manufacturer AG Barr has bought rival drink brands Fentimans and Frobishers in a £50 million deal funded through cash and debt. The company, which owns Rubicon and Irn‑Bru, said the decision was driven by consumers moving away from alcoholic beverages towards “adult soft drinks”. This expansion relies on the continued trend of adults drinking less alcohol. In Scotland, the proportion of non‑drinkers has risen from 11% in 2003 to 20% in 2024. AG Barr reported a “strong” financial year, with annual revenues rising 4% on the previous year to £437 million. CEO Euan Sutherland said: "Our top and bottom-line performance for full-year 2025-26 is in line with expectations, and importantly we have laid strong foundations for future growth.”
   
• Companies in the UK’s services sector cut jobs last month, with increased automation, rising payroll costs and decisions not to replace departing staff all cited as key factors, according to capital markets company S&P Global’s purchasing managers’ index survey. The report described this as the longest period of job shedding within the sector in 16 years. The services sector – spanning industries from hospitality and catering to legal and financial services – is the largest contributor to the UK economy, accounting for nearly 80% of total output. However, businesses continued to face cost pressures, including higher energy and food prices, as well as changes to National Insurance contributions and the National Living Wage. Despite the job cuts, overall business activity in the sector kicked 2026 off to a strong start, with the survey reporting the fastest rate of expansion since August 2025.

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