- Danish police are investigating Novo Nordisk (NVO -0.5%) after the company waited two days to disclose that the FDA had declined to approve diabetes treatment Tresiba, the firm's main new product hope, with the agency saying it wanted an additional trial for the therapy. The regulator also rejected a related combination drug called Ryzodeg.
- The probe is unlikely to hurt Novo Nordisk's finances - fines for these offenses generally top out at 200,000 kroner ($37,000) - although it could open the company up to lawsuits in the U.S.
- Novo Nordisk publicized the news on Sunday February 10; a day later, shares slumped as much as 17%.
Novo Nordisk probed for delaying Tresiba news
Dec 10 2013, 07:38 ET