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Biotech firm Novozymes sinks 3% after earnings miss

Matt Clinch

The factors that are pulling in our business are slightly different from what we expected," Peder Holk Nielsen, the CEO of Novozymes told "Squawk Box Europe" on Friday. Earnings before interest and tax (EBIT) for the quarter came in at 957 million Danish krone ($147 million) with its household care sector showing particular weakness. Shares of global biotechnology company Novozymes slumped Friday morning after reporting second-quarter earnings that missed analysts' expectations.