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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Novo Nordisk | NYSE:NVO | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.51 | 1.20% | 127.30 | 127.90 | 125.99 | 126.34 | 3,312,459 | 01:00:00 |
From Apr 2019 to Apr 2024
By Dominic Chopping
Novo Nordisk A/S (NVO) is to discontinue its activities within inflammatory disorders after deciding to increase efforts within diabetes prevention and treatment, obesity and diabetes complications, it said Tuesday.
It said 400 jobs will be directly impacted, but it expects to offer over half of them new positions within the company.
The decision follows a strategic review and comes after the company recently announced the discontinuation of its rheumatoid arthritis treatment anti-IL-20.
Chief science officer Mads Krogsgaard Thomsen said "the discontinuation of anti-IL-20 delays our earliest possible entrance into the market for anti-inflammatory therapeutics to the late 2020s...we have therefore decided to further increase our R&D efforts within diabetes which is our main business area."
The company expects to book a DKK700 million charge from impairments and other exit costs.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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