Novo Nordisk to stop R&D in small molecules for diabetes; to focus on proteins |
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Mon, 15 Jan 2007 10:56
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COPENHAGEN (AFX) - Novo Nordisk AS said it will stop research and development (R&D) in small molecules for oral treatment of diabetes, and existing projects will be divested, as it focuses all its R&D resources on its growing pipeline of protein-based pharmaceuticals.Novo Nordisk has a large pipeline of protein-based pharmaceuticals in diabetes, haemostasis, growth disorders and other diseases, as it has increasingly focused on therapeutic proteins since 2002.Existing pre-clinical and clinical small-molecule projects, including NN9101 (a glucokinase activator project currently in phase 1 clinical testing) are expected to be out-licensed.The decision, which will have a direct impact on approximately 180 staff, does not change the preliminary guidance for 2007 announced on Oct 27.Novo Nordisk still expects sales to grow by 13-15 pct year-on-year and operating profit is expected to grow by around 13 pct. It still expects to increase spending on R&D in 2007 as a proportion of sales compared to the 2006 level.Novo Nordisk will give full guidance for 2007 when it publishes its 2006 results on Jan 31.'Our core competences lie within therapeutic proteins, and it is within this area that we can make the greatest difference in terms of patient outcomes and company growth,' said Mads Krogsgaard Thomsen, chief science officer and executive vice president of Novo Nordisk.'Therefore, it is a logical move to focus all our research and development efforts on this area.'michael.delaine@afxnews.commdl/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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