Novo's Legal Challenges Mount as States Query Insulin Prices
- New Mexico, Washington state attorneys general seek details
- Shares surge after profit, sales beat estimates last quarter
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Novo Nordisk A/S’s legal challenges are mounting in the U.S. as authorities from Washington state to New Mexico question its pricing policies and the Danish drugmaker settles a probe of its marketing practices that allegedly included disguising salespeople as medical educators.
The world’s biggest maker of insulin has also been targeted along with rivals Eli Lilly & Co. and Sanofi in four lawsuits filed in recent months accusing the drugmakers and some pharmacy benefit managers of colluding to inflate insulin prices, the Bagsvaerd, Denmark-based company said as it reported results on Wednesday. The Attorney General’s offices in Washington and New Mexico also requested information related to insulin prices, Novo said in the statement.