Eli Lilly is one step closer to launching its promising new diabetes drug dulaglutide--and one step closer to putting a crimp in Novo Nordisk's big-selling rival, Victoza.
Novo Nordisk has its sights set on Mexico. The Danish drugmaker has put that country next on its list to debut liraglutide in its new guise as a weight-loss drug.
Novo Nordisk, the world leader in insulin products, took a big hit this year when the FDA denied approval of its newest long-lasting insulin drug, Tresiba. But CEO Lars Rebien Sørensen is taking every opportunity to let the markets know that Novo has lots of growth in its business.
With a respectable sales increase and profits growth that beat Big Pharma's, Novo Nordisk's third-quarter results still fell short of analyst expectations. The reason: Novo's powerhouse diabetes drug Victoza is slowing down a bit.
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As Lilly Diabetes President Enrique Conterno tells Bloomberg, the company plans to lean on its broad product portfolio to grow sales, rather than sending out legions of reps to push new drugs brand-by-brand.
Novo Nordisk's diabetes drugs have been revving up sales in the U.S. But the Danish drugmaker has lost two big supply contracts, and that's likely to put a drag on growth.
With generics flooding the market, U.S. drug spending fell by about 2% last year. That took pressure off of health insurers and left room for drug price hikes by those companies with drugs in demand, like insulin. Novo Nordisk is one of those companies.
Novo Nordisk's quarterly sales hit 21.38 billion kroner, or about $3.8 billion. Profits amounted to 6.7 billion kroner. And now, the company expects 2013 sales to grow by 11% to 13%, with operating profits up 12% to 15%; previously it was looking for sales growth of 9% to 11%.
The prevalence of diabetes is growing globally, and with that the size of the diabetes drug market. But the market has gotten increasingly competitive and increasingly complex. All of the top 10 best-selling drugs in the diabetes category are blockbusters, according to EvaluatePharma. So who makes them? Check out the report >>