10% - that is how much the price of the Novo Nordisk share is expected to go up if the FDA approves the company’s long-acting insulin Tresiba for the US market, says pan-Nordic bank Nordea.
“What's most important for Novo Nordisk’s growth story are the new products in development. In this regard, the group is facing possible approval of its insulin Tresiba in the US, presumably in early October. We see a great probability (90%) of approval, which could trigger an increase in the share price of up to 10%. If approval is postponed, which we see as a low probability (10%), the share price is expected to drop by 15%,” Jesper Bamberger, Senior Equity Advisor at Nordea, writes in a commentary, adding: