🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Novo Nordisk shares fall after media report about quality lapses at U.S. plant

Published 09/18/2023, 08:23 AM
Updated 09/18/2023, 10:35 AM
© Reuters. FILE PHOTO: Flags are seen outside Novo Nordisk headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo
NVO
-

COPENHAGEN (Reuters) - Novo Nordisk (NYSE:NVO)'s shares fell on Monday after financial news agency MarketWire reported that U.S. drug regulators had recently issued a report detailing quality control lapses at the group's Clayton, North Carolina plant, citing sources.

Reuters was not immediately able to authenticate the report. Novo Nordisk declined to comment on the report, but said in an emailed statement that the site was "running and producing for the market".

Clayton is a major site for the company's production of its active pharmaceutical ingredients, including semaglutide, which is the drug used in its hugely popular weight-loss drug Wegovy and type 2 diabetes drug Ozempic.

Shares in the company were down 3% at 1133 GMT.

MarketWire did not specify when the FDA inspection occurred.

The FDA did not immediately respond to a request for comment from Reuters, and does not typically comment on individual inspections.

© Reuters. FILE PHOTO: Flags are seen outside Novo Nordisk headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo

The FDA's inspection dashboard, a public website, was not currently listing any inspections as having occurred this year, but the dashboard is not a comprehensive record of all its inspections.

MarketWire's article on Monday stated that FDA inspectors had issued a Form 483 following their inspection. According to the FDA, a Form 483 is a type of agency report containing "observations" that FDA inspectors "deem to be objectionable".

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.