European Stocks Fall as Novo Nordisk Plunges on Insulin Delay

European stocks fell, extending a two-week decline, as Novo Nordisk A/S sank the most in almost four years after failing to win U.S. approval for a new drug.

Novo Nordisk, the world’s largest insulin maker, tumbled 13 percent. Lundin Petroleum AB lost 10 percent after the company said resources at its Johan Sverdrup oil discovery in the North Sea may be toward the low end of forecasts. Royal Ahold NV rallied 3.8 percent after agreeing to sell its 60 percent stake in ICA, Sweden’s largest food retailer, for $3.1 billion.