Monday, February 11, 2013

Novo Nordisk hit hard as U.S. rebuffs insulin drug

Handout shows the new long-acting insulin Tresiba drug on a Novo Nordisk production lineCOPENHAGEN (Reuters) - U.S. regulators have dealt a major blow to Novo Nordisk's hopes for its new long-acting insulin Tresiba by demanding the Danish drugmaker conduct more clinical tests to assess potential heart risks. Shares in Novo, the world's top insulin maker and Denmark's largest company, slumped 12 percent as the group said the decision would make it harder to meet long-term financial targets, while rival Sanofi rose 4 percent. At one stage, Novo shares were down as much as 17 percent on Monday, marking the biggest daily decline since 2002. Novo said the U.S. ...


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