Novo Nordisk (NVO) has a strong presence in the diabetes care market. The company has one of the broadest diabetes portfolios in the industry. Novo Nordisk is working hard to develop its diabetes portfolio further.
Novo Nordisk received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (:EMA) regarding NovoRapid PumpCart.
NovoRapid PumpCart is a 1.6 ml prefilled insulin pump cartridge containing Novo Nordisk‘s NovoRapid - rapid-acting insulin analogue for the treatment of diabetes. NovoRapid recorded revenues of DKK 4.1 billion in the third quarter 2013, up 8% in local currencies.
Novo Nordisk has developed NovoRapid PumpCart in a non-exclusive partnership with Roche (RHHBY). Novo Nordisk intends to launch NovoRapid PumpCart in EU in 2014–2015. It is compatible with Roche’s next-generation Accu-Chek diabetes therapy system.
In the third quarter of 2013, Novo Nordisk’s Diabetes Care segment recorded growth of 10%. Modern insulins generated strong revenues (up 13%) driven by NovoRapid (up 8%) and Levemir (27%). Novo Nordisk's key drug, Victoza, is a once-daily human glucagon-like peptide 1 (GLP-1) analogue approved for improving blood sugar (glucose) levels in adult type II diabetes patients. Novo Nordisk is the leader in the worldwide GLP-1 segment with approximately 70% of value market share at the end of the third quarter, up from 66% in 2012. The drug witnessed sales growth of 20%, mainly driven by growth in the U.S. and Europe.
Novo Nordisk carries a Zacks Rank #3 (Hold). Affymetrix Inc. (AFFX) and Actelion Ltd. (ALIOF) are better-ranked stocks. While Actelion carries a Zacks Rank #1 (Strong Buy), Affymetrix holds a Zacks Rank #2 (Buy).Read the Full Research Report on RHHBY
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