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Sydbank rates "overweight" on Novo Nordisk after Eli Lilly Q2 figures

Posted on: Thu, 23 Jul 2009 10:44:00 EDT

Symbols: LLY, NVO

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The US firm's sales figures for the insulin products Humalog, Humulin
and Byetta indicated of continually high underlying growth, especially
in the sales of insulin analogues, analyst Rune Majlund Dahl said. The
revenue rise has come thanks to both increased demand and higher
selling prices, and this is promising for Novo Nordisk, which as the
market leader will have the biggest benefit of those, Dahl added.

The Danish company is due to release second-quarter figures on 6 August
2009.

Dahl still believes that Novo Nordisk will launch its type 2 diabetes
drug Victoza this year, despite the increased uncertainty after the US
Food and Drug Administration (FDA) pointed to possible thyroid tumour
risks from the glucagon-like peptide-1 (GLP-1) analogue. FDA's concerns
about this product class has also curbed second-quarter sales of
Byetta. Sydbank's analyst expects US physicians to opt for Victoza
rather than Byetta, and sees a chance for a good start to the product's
US sales upon approval.

The shares in Novo Nordisk had edged up 0.17% to DKK301.50 by 1049 CET
on Thursday on the OMX Nordic Exchange in Copenhagen.

(EUR1 = DKK7.4)

Comments on this story may be sent to 
nbr.feedback@nordicbusinessreport.com

For full details on Eli Lilly & Company (LLY) LLY. Eli Lilly & Company (LLY) has Short Term PowerRatings at TradingMarkets. Details on Eli Lilly & Company (LLY) Short Term PowerRatings is available at This Link.

For full details on Novo Nordisk A/S (NVO) NVO. Novo Nordisk A/S (NVO) has Short Term PowerRatings at TradingMarkets. Details on Novo Nordisk A/S (NVO) Short Term PowerRatings is available at This Link.

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