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Another win for Novo Nordisk
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September 19th, 2014
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EU drug approval keeps share price soaring
Novo Nordisk announced yesterday that the European Commission has granted it marketing authorisation in all member states for its new type 2 diabetes drug Xultophy.
The news comes just over a week after the company received positive news regarding the approval process of a separate drug in the US market.
READ MORE: Thumbs up for Novo Nordisk obesity drug
New paradigm
“We believe that Xultophy represents a new paradigm with the potential to transform how type 2 diabetes is treated,” the company’s chief science officer, Mads Krogsgaard Thomsen, said in a press release.
“We look forward to making the product available to people with type 2 diabetes in Europe."
The drug was approved in Switzerland last week. Novo Nordisk wrote in the press release that Xultophy will start to be released on the European market in the first half of 2015.
The market also seems to be reacting positively to Novo’s successes. The share price of the company’s publicly traded B shares has risen from 251.7 kroner on August 18 to 281.6 kroner today.
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