Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Novo Nordisk's (NOVOb.CO) long-term profit targets are hanging in the balance after a big setback in the U.S. market but the Danish drugmaker may yet hit its goal if things work out for one of two drugs, its CEO said.
Chief Executive Lars Sorensen told the Reuters Health Summit on Tuesday that success for a new obesity drug or a green light for long-acting insulin Tresiba - based on interim data from a safety study demanded by regulators - could keep Novo on track.
The world's biggest insulin producer - a favorite among investors thanks to its exposure to the fast-growing diabetes market - currently has a long-term target to increase operating profit by 15 percent a year.
Some analysts think that is now out of reach, following the refusal in February by the U.S. Food and Drug Administration to approve Tresiba, demanding instead that Novo carry out a major new study on cardiovascular risks.
http://www.reuters.com/article/2013/05/08/us-summit-novonordisk-idUSBRE9470F920130508
Chief Executive Lars Sorensen told the Reuters Health Summit on Tuesday that success for a new obesity drug or a green light for long-acting insulin Tresiba - based on interim data from a safety study demanded by regulators - could keep Novo on track.
The world's biggest insulin producer - a favorite among investors thanks to its exposure to the fast-growing diabetes market - currently has a long-term target to increase operating profit by 15 percent a year.
Some analysts think that is now out of reach, following the refusal in February by the U.S. Food and Drug Administration to approve Tresiba, demanding instead that Novo carry out a major new study on cardiovascular risks.
http://www.reuters.com/article/2013/05/08/us-summit-novonordisk-idUSBRE9470F920130508
