12:05 PM EDT, 03/24/2025 (MT Newswires) -- The European stock markets were mixed, though relatively flat in Monday trading as The Stoxx Europe 600 was off 0.04%, Germany's DAX dipped 0.01%, the FTSE 100 in London gained 0.04%, France's CAC 40 was up 0.03%, and the Swiss Market Index declined 0.45%.

The seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index compiled by S&P Global rose to 50.4 in March from 50.2 in February, which was the third straight month of expansion. Additionally, the increase in euro area business activity was its sharpest since August.

"Just in time with the beginning of spring we may see the first green shoots in manufacturing," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said in a statement, noting that manufacturers expanded their output for the first time since March 2023. "It's also encouraging, that the index output has risen for three months straight," he said.

In the UK, the headline seasonally adjusted S&P Global Flash UK PMI Composite Output Index rose to 52.0 in March from 50.5 in February and remained above the 50.0-point threshold separating growth from expansion for the 17th straight month. It was also the index's highest reading since September.

The flash estimates for the Eurozone and the UK are based on approximately 85% of the usual number of survey responses compiled by S&P.

And in corporate news, Novo Nordisk said Monday it has agreed to pay up to $2 billion for the exclusive rights for a triple receptor in early-stage clinical development for the treatment of obesity, type 2 diabetes and other diseases. Under the terms of the deal, Novo Nordisk will obtain the worldwide rights -- excluding the Chinese mainland, Hong Kong, Macau and Taiwan -- to develop manufacture and commercialize the drug, called UBT251, from United Biotechnology, which is eligible to receive $200 million upfront and potential milestone payments of up to $1.8 billion.

The Danish pharmaceutical giant also said Monday that it will now allow cash-paying patients access to Wegovy injection 0.25 mg, 0.5 mg, 1 mg, 1.7 mg, and 2.4 mg at local pharmacies for a reduced cost of $499 per month following updates to its Wegovy savings program. The $499-per-month offer for Wegovy was only available via the recently launched NovoCare Pharmacy, the company said.

DBV Technologies said Monday the US Food and Drug Administration has agreed with the company's proposal that the safety exposure data from the its phase 3 study for Viaskin peanut patch in four- to seven-year-olds will be enough to support a biologics license application filing in this age group. The French biopharmaceutical company said it plans to submit the application for the food allergies patch in H1 2026, potentially accelerating the product launch by about one year.