Bryan Garnier - Novo Nordisk (novob) NOVO NORDISK: New evidence of strategic move towards CVRM | NEUTRAL | DKK390(-11%)

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Bryan Garnier

Eric Le Berrigaud

NOVO NORDISK: New evidence of strategic move towards CVRM | NEUTRAL | DKK390(-11%)

NOVO NORDISK - NEUTRAL | DKK390(-11%)
New evidence of strategic move towards CVRM

Building up in CVRM
CMD said clear and loud that CVRM was a priority
Corvidiaâ€™s ziltivekimab is good addition to the pipeline
The overall impact yet to be reflected in our FV

12/06/2020 3 EN

Underlying

Novo Nordisk

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Eric Le Berrigaud

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NOVO NORDISK: New evidence of strategic move towards CVRM | NEUTRAL | DKK390(-11%)

Novo - Negative Mix A Major Concern (SELL, TP DKK350, 15pgs)

MFN Drug Pricing - Impact and Implementation (Thematic, 5pgs)

Novo - Worrying Times (SELL, TP DKK350 [460], 13pgs)

H&M: modest signs of improvement

Emerging consolidator in Germany’s optical retail sector

Avantium: multi-year capacity reservation with Royal Hordijk

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