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URGENT ¥¥¥ Novo Nordisk share plunges on insulin setback

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(Globalpost/GlobalPost)

Shares in the world's biggest insulin producer Novo Nordisk plunged by 13 percent on Monday after the company said US drug authorities had rejected its applications for two new insulin treatments.

The Danish company said it had received a letter from the US Food and Drug Administration stating "that approvals for Tresiba and Ryzodeg cannot be granted" until the company provides additional information.

po/nsb/hd

http://www.globalpost.com/dispatch/news/afp/130211/urgent-novo-nordisk-share-plunges-insulin-setback