Novo Nordisk A/S (NVO) CFO Explains Winning Diabetes Strategy
8/22/2012 7:43:27 AM
For a company that's pushing 90, Novo Nordisk (NVO) is looking pretty fit. The Danish drugmaker recently re-entered the IBD 50 for a short time after spending 2011 in a downturn, which the company blames on health care reforms in both the U.S. and Europe that depressed prices of its core product line, insulins. Now that Novo has adjusted to the new reality, it's goosing growth with new products. Victoza, launched in 2010, is one of a new class of diabetes drugs called GLP-1s. Despite the fact that Amylin, now part of Bristol-Myers Squibb (BMY), launched a competing product called Bydureon in January, Victoza's sales soared 82% in the first half of this year.