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Novo Nordisk A/S (NVO) Drops as New Eli Lilly and Company (LLY) Drug Threatens Victoza



6/17/2013 10:05:30 AM

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Novo Nordisk A/S (NOVOB) fell the most among benchmark stocks in Copenhagen trading after Bank of America Merrill Lynch said the diabetes drug company’s Victoza medicine faces “a real threat” from an Eli Lilly & Co. (LLY) product. Novo fell as much as 1.9 percent, the biggest drop in the Nasdaq OMX Copenhagen 20 index. The stock retreated 1.5 percent to 918 kroner at 11:34 a.m. in the Danish capital, with trading volume at 47 percent of the three-month daily average. The stock was also today’s biggest loser in the Stoxx Health Care index of 35 companies.

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