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Novo Nordisk (NVO) Fiasp Gets EU Nod for Diabetes in Adults
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Novo Nordisk A/S (NVO - Free Report) announced that its fast-acting insulin aspart, Fiasp, has been approved in the EU for the treatment of diabetes in adults.
A look at Novo Nordisk’s share price movement in the past one year shows that the company has underperformed the Zacks classified Large Cap Pharma industry. Specifically, the stock plunged 35% during this period, while the industry rose of 1.3%.
Coming back to the latest news, Fiasp is approved in the EU for improving the control of postprandial glucose (PPG) excursions in patients with type I and type II diabetes, as well as for pump treatment.
The company expects to launch the drug in the first half of 2017.
Last week, Fiasp received marketing authorization from Health Canada. Meanwhile, a regulatory application has been filed in the U.S., Switzerland, Australia, Brazil, South Africa and Argentina.
We note that Novo Nordisk has a strong presence in the diabetes care market with a global value share of 27%, supported by one of the broadest diabetes portfolios in the industry comprising drugs like Victoza, Levemir and modern insulins. The company anticipates continually strong performance of these modern insulins and Victoza to contribute significantly to its top-line growth.
However, the company is going through a rough patch as several drugs in its portfolio are losing patent protection. Loss of exclusivity for products like NovoRapid/NovoLog and NovoLog Mix/NovoMix, along with intensifying competition in the diabetes market remains a major concern.
The diabetes market is quite crowded given the presence of companies like Johnson & Johnson (JNJ - Free Report) and Merck & Co. Inc. (MRK - Free Report) .
Sucmapo’s earnings estimates were stable at $1.22 for 2016 but have increased from $1.30 to $1.74 for 2017 over the last 60 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 35.5%.
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Novo Nordisk (NVO) Fiasp Gets EU Nod for Diabetes in Adults
Novo Nordisk A/S (NVO - Free Report) announced that its fast-acting insulin aspart, Fiasp, has been approved in the EU for the treatment of diabetes in adults.
A look at Novo Nordisk’s share price movement in the past one year shows that the company has underperformed the Zacks classified Large Cap Pharma industry. Specifically, the stock plunged 35% during this period, while the industry rose of 1.3%.
Coming back to the latest news, Fiasp is approved in the EU for improving the control of postprandial glucose (PPG) excursions in patients with type I and type II diabetes, as well as for pump treatment.
The company expects to launch the drug in the first half of 2017.
Last week, Fiasp received marketing authorization from Health Canada. Meanwhile, a regulatory application has been filed in the U.S., Switzerland, Australia, Brazil, South Africa and Argentina.
We note that Novo Nordisk has a strong presence in the diabetes care market with a global value share of 27%, supported by one of the broadest diabetes portfolios in the industry comprising drugs like Victoza, Levemir and modern insulins. The company anticipates continually strong performance of these modern insulins and Victoza to contribute significantly to its top-line growth.
However, the company is going through a rough patch as several drugs in its portfolio are losing patent protection. Loss of exclusivity for products like NovoRapid/NovoLog and NovoLog Mix/NovoMix, along with intensifying competition in the diabetes market remains a major concern.
The diabetes market is quite crowded given the presence of companies like Johnson & Johnson (JNJ - Free Report) and Merck & Co. Inc. (MRK - Free Report) .
Novo Nordisk A/S Price and Consensus
Novo Nordisk A/S Price and Consensus | Novo Nordisk A/S Quote
Novo Nordisk carries a Zacks Rank #3 (Hold).
Key Picks in the Sector
Sucampo Pharmaceuticals, Inc. is a better-ranked stock in the health care sector sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sucmapo’s earnings estimates were stable at $1.22 for 2016 but have increased from $1.30 to $1.74 for 2017 over the last 60 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 35.5%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>