Novo Nordisk to Launch Long Acting Insulin

Novo Nordisk A/S (NYSE:NVO) expects to launch its long-acting insulin analogue Levemir later this year, after receiving a positive recommendation from the European Union's Committee for Proprietary Medicinal Products.

The committee recommends NVO receive permission to market Levemir, and Novo Nordisk expects the European Commission, which has the final say, to grant marketing authorization in the coming months.

Novo Nordisk said it expects to launch Levemir in key European markets in the second half of 2004.

Levemir provides more consistent, daily control of blood glucose levels for people with diabetes than conventional treatment, the company says. The approval had been expected by both the company and the market.