Novo Nordisk (Buy, TP: DKK380.00) - FDA approves semaglutide
Last evening, the FDA approved Novo Nordisk’s once-weekly GLP-1 semaglutide. From a label perspective, we view the inclusion of SUSTAIN 6 CV events as positive, and note that the FDA requires only a small post-approval paediatric trial as opposed to one for retinopathy. We continue to see semaglutide as the future jewel of Novo Nordisk, adding c2.3% growth annually on average until 2022e on our estimates. We reiterate our BUY recommendation and have raised our target price from DKK370 to DKK380.Novo-Nordisk is a global healthcare company engaged in the innovation of diabetes care. Co. also provides haemophilia care, growth hormone therapy and hormone replacement therapy. The Diabetes care business segment includes research, development, manufacturing and marketing of products within the areas of insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD) and obesity. The Biopharmaceuticals business segment includes research, development, manufacturing and marketing of products within the areas of haemophilia, growth hormone therapy, hormone replacement therapy, inflammation therapy and other therapy areas.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.