Novo says sees continued price pressure in China
COPENHAGEN Oct 31 (Reuters) - Danish drugmaker Novo Nordisk said it expects no significant impact on its operations in China in the wake of a bribery scandal in the country but that prices were under continued pressure.
"We see continued price pressure on insulins in China," Novo's chief financial officer Jesper Brandgaard said on Thursday following the company's third quarter result.
Brandgaard said a visit by Chinese authorities to a Novo Nordisk factory in China this summer was believed to be carried out as part of the probe on pharmaceutical companies including GlaxoSmithKline and other rivals.
He added that Novo had not been charged with any wrong doing and was fully co-operating with Chinese authorities.
(Reporting by Mette Fraende and Shida Chayesteh. Editing by Jane Merriman)
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