Novo Nordisk down as it warns about pricing pressure in the USA

Danish diabetes giant Novo Nordisk (NOV: N) saw its shares dip 2.9% to 308.50 Danish kroner this morning, after the company warned that draft legislation in some US states to make pricing more transparent could impact business in its largest market, and forecast only modest growth for the full years 2017 and 2018.

Novo Nordisk reported that, for the first nine months of 2017, sales increased 2% to 83.7 billion kroner ($13.08 billion), a rise of 3% in local currencies.

Operating profit rose 5% reported in Danish kroner and by 6% in local currencies to 38.9 billion kroner. Net profit increased 2% to 29.9 billion kroner. Diluted earnings per share for the nine months were up 5% to 12.03 kroner.