Novo’s Diabetes Pain Spares Sanofi in Tale of Two Strategies
- Novo shares plunge by most since 2002 as forecasts slashed
- Sanofi gains most in more than seven years on raised forecast
Diabetes Strategies the Difference for Novo, Sanofi
This article is for subscribers only.
Novo Nordisk A/S, the world’s biggest maker of insulin, is experiencing the downside of its relentless focus on diabetes.
The Danish company, which gets 80 percent of its sales from diabetes medicines, plunged the most in more than 14 years Friday after Novo slashed its long-term target for profit growth by half because of pressure on prices in the U.S., its largest market.