蘑菇AV

The news: Eli Lilly is hiking the UK price of its diabetes and weight loss drug Mounjaro by as much as 170% starting next month, depending on the dose size. The drugmaker also said it鈥檚 been working on raising prices of its medications in Europe and other developed countries. Our take: Drug pricing is so complicated that it could benefit pharma manufacturers, because it will be hard to know whether they鈥檙e truly equalizing prices or just finding ways around the Trump administration鈥檚 demands that other drugmakers could copy.

A trade war between two of the world鈥檚 largest consumer markets would cause significant disruption for consumers, retailers, and brands in Europe.

The news: New details on the Trump administration and European Union trade agreement solidify a 15% tariff cap on generics and active pharmaceutical ingredients, but leave questions on brand-name drug imports. The takeaway: Pharma companies can breathe a sigh of relief with the certainty of 15% EU tariffs and another reprieve, at least for now, on MFN pricing. Although the threat remains, the MFN deadline has already shifted once from June to September and could be moved again. That said, drugmakers should continue discussions while preparing for counter measures if needed such as US-only drug launches or raising prices abroad.

The news: The trade deal between the US and EU will include a 15% tariff on pharmaceuticals imported from Europe, the White House said. The final word: Pharma companies and industry trade groups had been holding out hope that their medicines imported to the US would be exempt from tariffs. Not getting that reprieve is a setback鈥攂ut the 15% rate on its own could be seen as a decent outcome, particularly considering that 200% tariffs were threatened and the Section 232 investigation could lead to a higher levy in other countries.

TikTok鈥檚 2024 revenues in the UK, Europe, and Latin America surged 38% to $6.3 billion, more than doubling 2022 levels, per filings cited by Forbes. The growth underscores TikTok鈥檚 strength outside the US, where a divest-or-ban standoff continues. Yet regulatory scrutiny in Europe looms large, with over $1 billion reserved for fines, ongoing probes across multiple countries, and potential penalties under the EU鈥檚 Digital Services Act. TikTok鈥檚 UK penetration tops 32%, with ad revenues projected to triple by 2027. Still, layoffs in trust and safety roles and a pivot to AI moderation could test regulators and user trust.

The news: Marqeta鈥檚 total processing volume (TPV) hit $91 billion in Q2, a 29% YoY increase. Our take: Marqeta鈥檚 success with buy now, pay later could help it finally wean off its dependence on Block, which still accounts for 46% of its business. With planned expansions into Europe, Marqeta has the opportunity to put more distance between it and its competitors by leaning into solutions for alternate financing and currencies, like BNPL and crypto.

Cross-border buyer numbers are rising in Europe as shoppers seek value and variety鈥攂ut consumer expectations and regulatory changes could challenge future growth.

Meta鈥檚 Q2 2025 earnings showed the company thriving despite softening engagement in mature markets. Revenue surged 22% YoY to $47.52 billion, largely driven by better ad pricing, AI-optimized performance tools, and growing monetization via WhatsApp. Although user growth was modest, Meta demonstrated strong pricing power鈥攅specially in North America and Europe鈥攁nd continues to see big potential in Asia-Pacific. Operating margins remained healthy at 43%, even with record AI investments. As Meta extracts more value per user and expands monetization across platforms, its performance proves that engagement isn鈥檛 the only growth lever鈥攊t鈥檚 how well each session gets monetized.

The news: PayPal launched PayPal World, a global platform linking major international payment systems and digital wallets. Our take: While PayPal鈥檚 starting list of key partnerships represents Latin America, India, and China, the payment provider could penetrate further into European markets by tying up with the European Payments Initiative and the Wero wallet鈥攁s well as with top US wallets like Apple Pay and Google Pay or the nascent Paze.

Deckers and Puma are proceeding with caution as tariffs complicate US operations and consumer sentiment. Of the two companies, Deckers is better equipped to manage the uncertain environment. It has considerably more pricing power than Puma, giving it more room to offset tariff costs. It also has significantly more runway to grow outside the US: International revenues surged 50% in Q1, while Puma is facing weakness in Asia and Europe in addition to North America.

The news: Tesla鈥檚 Q2 earnings disappointed as fallout continues from Elon Musk鈥檚 political spotlight, highlighting the risks of a brand being tied to its leader鈥檚 actions. Revenues reached $22.49 billion and deliveries hit 384.1 million, down 12% and 13% YoY, respectively. Between January and June, EU car sales declined 44% YoY, per the European Automobile Manufacturers鈥� Association. Our take: While complicated to execute, brand equity should be as independent as possible to avoid tying company identity to a single leader. When CEOs make mistakes, companies can rebuild trust through honesty and accountability and by highlighting assets other than leaders, like employees, partnerships, or key products. Tesla seems to be on the path to recovery, but it may have a long road ahead.

The news: Magnite and Dentsu are expanding their partnership in the Europe, Middle East, and Africa (EMEA) region to streamline video and connected TV (CTV) capabilities, per a press release. The agreement will use Magnite鈥檚 SpringServe video platform across markets like the UK and Spain to support Dentsu鈥檚 programmatic CTV offering, Total TV. Our take: Magnite and Dentsu鈥檚 partnership marks a critical expansion, giving advertisers a better opportunity to deliver impactful, precise, and measurable video and CTV experiences at scale across key markets.

The news: Meta is refusing to change its 鈥減ay or consent鈥� model in the EU, per Reuters, risking fines to protect its ad-targeting capabilities. The company argues it鈥檚 being singled out and that 鈥渁 user choice between a subscription for no ads service or a free ad-supported service remains a legitimate business model for every company in Europe鈥攅xcept Meta,鈥� per Reuters. Our take: This is a battle for user data, and with the DMA鈥檚 prior victories over Meta, it鈥檚 one fight that Meta may not win. Marketers should track Meta鈥檚 changing compliance stance, prepare for restrictions on user-level data, and consider spending on platforms with fewer regulatory risks.

The digital landscape in Europe is slowing, but opportunities for advertisers, brands, and retailers still exist. Knowing where to look to achieve the best outcomes will be paramount.

The news: Deutsche Bank plans to launch a digital asset custody service next year, which would allow clients to securely store cryptocurrencies and tokenized assets. It initially announced its custody plans in 2022. Our take: These two German banks鈥� announcements signal growing confidence among European financial institutions in embracing digital assets. We expect more of them to follow suit in the coming year.The trend could also pick up pace in the US amid a favorable environment: Several major US banks already offer crypto asset services, but recent developments like the withdrawal of previous cautionary guidance by the Office of the Comptroller of the Currency could spur more major US banks to jump in.