Novo Nordisk Shakes Up R&D Strategy To Cope With US Pricing Pressures
Increasing competition and pricing pressures in the US, have led Novo Nordisk to halve its profit growth expectations for 2017. In response, the diabetes drug developer plans to double-down on R&D efforts, expand into new therapy areas and seek external deals for early-stage assets to bulk up its pipeline.
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Once high-flying Novo Nordisk has been sending out M&A signals as it seeks a solution to weak growth, so analysts aren't surprised to see the Danish diabetes giant stalking US-based Global Blood Therapeutics.
Lackluster reports from Pfizer, Roche, AstraZeneca and Novo Nordisk in a second week of earnings season pervaded by below consensus 2017 guidance followed a first week punctuated by missed sales estimates. So much bad news hanging over the sector feels like a nuclear winter.
Despite dropping its Phase II oral insulin program in the second half of 2016, Novo Nordisk's chief scientific officer says the company is quietly continuing to explore options for an oral therapy better than its leading insulin option, Tresiba.