The Danish company’s Ozempic product is a once-weekly GLP-1 receptor agonist designed to boost glycemic control in adults with Type II diabetes. The injection, administered in a pre-filled pen, won FDA approval in December.
Fiasp, a fast-acting mealtime insulin, is indicated for adults with Type I and Type II diabetes. The FDA gave the insulin aspart injection the go-ahead in September last year.
“With 1.5 million new patients diagnosed with diabetes each year, we must continue to innovate and bring to market new options to meet the diverse needs of patients,” David Moore, SVP of Novo Nordisk’s commercial business unit, said in prepared remarks.
“There is no one-size-fits-all approach to effectively managing diabetes and we are proud to add Ozempic and Fiasp to our market-leading portfolio to give patients new treatment options. Our robust portfolio of diabetes products addresses the concerns and needs of people with diabetes, particularly around dosing and administration.”
Earlier this month, Novo Nordisk shares fell after the insulin-maker missed expectations on Wall Street with its fourth quarter and full-year financial results.
The company posted profits of $1.38 billion on sales of $4.68 billion for the 3 months ended Dec. 31, for bottom-line loss of -5% on sales loss of -5% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 57¢, behind consensus on The Street, where analysts were looking for sales of $4.86 billion.
The company also noted that its board’s chairman, Goran Ando, has decided not to seek re-election this year and that Helge Lund, a current member of the board, is slated to take the helm.
There are other personnel changes on the horizon for Novo Nordisk. The company’s SVP of corporate finance, Karsten Munk Knudsen, plans to assume the role of CFO in February this year, at which time the company’s existing chief finance exec, Jesper Brandgaard, will stay on as EVP of biopharm and legal affairs.