Novo Nordisk predicts blockbuster diabetes drug approval

Novo Nordisk says that it expects the FDA to make a decision on its next-gen diabetes drug Victoza (liraglutide) in a matter of weeks. And CFO Jesper Brandgaard told Reuters that the Danish company expects a positive response.

"They (the FDA) have told us that we can expect an answer either in August or September," Brandgaard told the news service.

Victoza is already on sale in Europe, where Novo Nordisk has priced the drug competitively with Byetta. And analysts say that the drug's safety profile will help it gain market share--provided the FDA hands it an approval. Novo Nordisk also reported a 21 percent rise in second quarter net profit.

- take a look at the story from Reuters
- read the story from Dow Jones

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