Novo Nordisk hit hard as U.S. rebuffs insulin drug
COPENHAGEN (Reuters) - U.S. regulators refused to approve Novo Nordisk's new long-acting insulin Tresiba until it conducts extra tests for potential heart risks, dealing a major blow to a key product for the Danish drugmaker. Shares in Novo, the world's leading insulin maker and the most valuable company in the Nordic region, slumped 12.5 percent as it said the decision would make it harder to meet long-term financial targets. Rival insulin producer Sanofi rose 4.5 percent. At one stage, Novo shares were down as much as 17 percent on Monday, their biggest daily decline since 2002. ...
Source: news.yahoo.com
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