Novo Nordisk has set the terms for the IPO of its IT services unit NNIT. If NNIT prices at the top end of its range when it goes public in the next week or so, the listing could generate up to $335 million for Novo Nordisk.
Here is part two of comments from C-suite execs on emerging markets and Asia in the latest quarterly conference calls.
Novo Nordisk's new oral diabetes drug measured up to its injected counterpart in a midstage study, promising results the company heralds as a milestone in the field.
Merck and Novo Nordisk are the latest pharma recruits for the GPCR Consortium, a global nonprofit working to shed light on an underexplored corner of biology and share its discoveries with the public.
Novo Nordisk has decided to go ahead with the long-discussed IPO of its IT services unit NNIT. The Danish drugmaker spent the past year weighing up the merits of a public listing, which analysts have speculated could value the company at anywhere from $460 million to $1.2 billion.
In a conference call after reporting solid sales and earnings, Novo Nordisk CFO Jesper Brandgaard said the company expects to spend 5 billion Danish kroner ($767 million) this year to boost its capacity for manufacturing biopharmaceuticals and APIs and insulin filling, as well as some for new R&D construction.
For the past couple of years, the pharma industry has had something of a reprieve from patent-cliff nightmares. But according to Moody's Investors Service, some companies face new threats to their sweet dreams.
Novo Nordisk CEO Lars Sorensen told investors today that 2014 had been a more challenging year than most, then rolled off a series of results that showed significant leaps in sales both in the U.S. and worldwide. He then waved off any worries about a price war in the U.S. being a significant issue for the world's largest maker of insulin products this year.
The Russian ruble maybe in rubble, but the economic challenges will not deter Novo Nordisk, which is finishing up a plant in Russia. Five years in the planning and nearly three in construction, execs say it is needed to fulfill the drugmaker's long-term goals there.
Novo Nordisk has set its Saxenda target and enlisted its U.S. sales force. Now it just needs to follow through--and that won't be an easy task.