Novo Nordisk shelves inhaled insulin, axes staffers

There's another big loser in the inhaled insulin game. Shares of Novo Nordisk were trimmed more than four percent after the Danish developer announced it was dropping its short-acting AERx insulin inhaler after coming to the conclusion that it had little commercial value and was no better than injectable insulin. The AERx inhaler was in late-stage trials.

Company officials said they would trim hundreds of jobs and write off $260 million as a result of the move. Pfizer dropped Exubera last fall after the inhaled diabetes product failed to live up to, or even get close to, a much heralded blockbuster status. Novo says it will continue to develop other experimental inhaled diabetes therapies. That's not likely to be any consolation to Novo's workers at its Hayward, CA facility, where about 300 employees face the axe.

- see Novo's release
- read the report from Dow Jones

Related Articles:
Mixed data for Novo's diabetes drug. Report
Pfizer kills off Exubera, hunts for deals. Report
MannKind bets the farm on inhaled insulin. Report
Exubera becoming a big disappointment for Pfizer. Report

Suggested Articles

Paragon Biosciences has hired Kerensa Jimenez as the new CEO of its capital markets group Paragon Health Capital.

Regeneron has taken a step closer to getting a green light for its experimental high cholesterol drug as the FDA allows a swift review of evicanumab.

An analysis of Gilead’s remdesivir clinical trials found the studies “failed to provide equal representation of Black, Latinx and Native Americas."