Novo Nordisk (NVO) shares plunge 11.85% premarket after the FDA unexpectedly rejected the...

|About: Novo Nordisk A/S (NVO)|By:, SA News Editor

Novo Nordisk (NVO) shares plunge 11.85% premarket after the FDA unexpectedly rejected the company's Tresiba long-acting insulin and a related product called Ryzodeg. The FDA requested more data from a dedicated cardiovascular outcomes trial, which Novo doesn't expect to be able to provide this year. Tresiba and Ryzodeg are approved in Europe and Japan, and are forecast to generate billions of dollars of sales - assuming U.S. approval.