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Danske upgrades rating, price target on Novo Nordisk

Oct 19, 2009 (M2 PRESSWIRE via COMTEX) --

Company: Novo-Nordisk A/S (NVO)

19 October 2009 - Danske Equities raised to "buy" from "hold" the recommendation on Danish pharmaceuticals company Novo Nordisk A/S (CPH: NOVO B) and lifted the share price target to DKK400 from DKK300.

"The initial penetration of Victoza on the German market indicates a strong commercial potential, which we consider is not reflected in the quotation, due to the administrative problems in the USA," the brokerage wrote in an analysis.

Danske Equities' recommendation presupposes that Victoza, a type 2 diabetes treatment, will be approved in the USA, which will happen by the end of 2009, according to the broker.

The shares in Novo Nordisk had gained 0.93% to DKK325 just before the closing bell on Monday on the OMX Nordic Exchange in Copenhagen.

(EUR1 = DKK7.4) 

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Company: Novo-Nordisk A/S (NVO)


Related terms: commercial, diabetes, equity, market, nordic, pharmaceuticals

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