Novo Nordisk A/S (NOVOB), the world’s biggest maker of insulin, gained in Copenhagen trading after its Ryzodeg diabetes drug was approved for treatment in Japan.
The drugmaker rose as much as 1 percent to 925 kroner, the highest since Dec. 17, in the Danish capital. Trading volume was 5 percent of the three-month average by 9:18 a.m. local time.
Japan approved Ryzodeg for once or twice daily treatments, Novo said Dec. 25. Ryzodeg is a soluble formulation of Novo’s Tresiba insulin degludec and NovoRapid insulin aspart drugs.
The company will start selling Ryzodeg in Japan next year, about six to nine months after introducing Tresiba in that market, Nordea Equity Research forecast.
“We see a lot of exciting share price drivers ahead and expect the stock to take off in 2013 and set records,” Mikkel Pedersen, an analyst at Nordea Bank AB, said in a note.
Novo will make Ryzodeg available in Japan in FlexTouch and Penfill insulin pens, the company said.
To contact the reporter on this story: Gelu Sulugiuc in Copenhagen at email@example.com
To contact the editor responsible for this story: James Ludden at firstname.lastname@example.org