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Novo Nordisk Trims Outlook on Increased U.S. Political Risks

  • Environment is ‘increasingly volatile,’ new CEO says
  • Stock drops the most since October, last time outlook changed
Updated on

Novo Nordisk A/S, the world’s biggest maker of diabetes medicines, grew less confident about its outlook since late last year because of political risks in the U.S.

The Danish drugmaker pared its sales forecast for 2017, widened the range of its operating profit estimate and warned prices for insulin are likely to keep falling in the U.S. as it reported lower-than-expected earnings on Thursday. It’s the third time in six months Novo has altered estimates, and the stock had its worst drop since Oct. 28, when the outlook was last cut.