Novo Nordisk targets bigger slice of diabetes market with new tablet

COPENHAGEN: Danish drugmaker Novo Nordisk is aiming for a big slice of the multibillion-dollar diabetes market with a new pill, approved by U.S. authorities on Friday, that caters for patients with an aversion to needles.

"We have only worked with around 25per cent of the patients so far and we see it as a breakthrough because we can now also address the tablet-based market," chief scientific officer Mads Krogsgaard Thomsen told Reuters on Monday. However, chief financial officer Karsten Munk Knudsen told analysts the monthly price would be similar to the company's once-weekly injectable version of semaglutide, Ozempic, which has a list price of nearly US$800 per month."Overall this removes a concern that the company would have been forced much lower on price," said Bernstein analyst Wimal Kapadia, who has an 'outperform' rating on Novo shares.

"We have a very strong position if you look at the leading tablet treatments in the market," Thomsen said.

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