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Novo Nordisk A/S (NVO) Wins EU Panel's Recommendation for Tresiba
10/19/2012 7:04:10 AM
Novo Nordisk A/S (NOVOB) won the backing of a European Union advisory panel for its new insulin Tresiba, paving the way for increased competition in the $35 billion diabetes market. Tresiba, also known as degludec, was recommended by the European Medicines Agency’s Committee for Medicinal Products for Human Use, the London-based regulator said in a statement today. Novo, the world’s largest insulin maker, needs Tresiba, a long-acting insulin analogue, to wrest market share from Paris- based Sanofi (SAN)’s best-selling diabetes treatment, the Lantus insulin. Bagsvaerd, Denmark-based Novo’s older product, Levemir, has been trailing Lantus, which garnered 3.92 billion euros ($5.1 billion) in sales last year. “This new insulin is key for future growth,” Philippe Lanone and Beatrice Muzard, analysts at Natixis Securities in Paris, wrote in a Sept. 12 note. They estimate Tresiba may garner annual peak sales of 19.5 billion kroner ($3.4 billion) by 2025.
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