August 6, 2009 / 9:36 AM / 11 years ago

Novo Nordisk awaits FDA approval of Victoza -CFO

COPENHAGEN, Aug 6 (Reuters) - Danish drug maker Novo Nordisk (NOVOb.CO) still expects the U.S. Food and Drug Administration (FDA) to approve its new-generation diabetes drug Victoza, the company’s chief financial officer said on Thursday.

“They (the FDA) have told us that we can expect an answer either in August or September,” CFO Jesper Brandgaard told Reuters, confirming that the company’s expectation is for a positive response from the U.S. regulator.

His remarks came after the company said in its second-quarter earnings report that it was in a “constructive dialogue” with the FDA on Victoza.

Brandgaard said that the global insulin markets were growing more slowly than the company previously expected.

He said Novo Nordisk expects gross margins to improve by between 50 and 100 basis points in both 2010 and 2011 in terms of local currencies.

Reporting by Karin Jensen

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