Novo Nordisk: Is Novo's central scenario realistic?NEUTRAL, Fair Value DKK375 vs. DKK390 (+3%)
We have adjusted our FV from DKK390 to DKK375 as a consequence of Sanofi’s comments about the pricing situation in the basal insulin US market and in view of the unclear ones from Novo’s management. Should there be a meaningful paradigm shift, Novo would likely be impacted significantly. For further comments and for a more global view, we will wait for the CMD.
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