Novo Plunges After Slashing Long-Term Growth Profit Target

Novo Plunges After Slashing Long-Term Growth Profit Target


Novo Nordisk A/S plunged by the most in more than 14 years after the world's biggest maker of insulin slashed long-term profit-growth forecasts by half because of pressure on prices in the U.S., its largest market. The estimate was pared to 5 percent from the 10 percent projected in February, before it lost key contracts, saw some products being excluded from insurance-coverage plans and promised large rebates in the U.S. on 2017 prices.



from Biotech News