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The treatment in June demonstrated that it also helped reduce the risk of heart attacks, strokes and deaths from cardiovascular causes in diabetics, though the benefit was smaller than some analysts had expected. This development is surprising,Citigroup Inc. analysts in London including Peter Verdult wrote in a research note on Tuesday, commenting on Victoza being excluded. The stock has dropped about 7 percent this year. Sanofi shed almost 3 percent in Paris on Tuesday. A spokeswoman for Bagsvaerd, Denmark-based Novo declinedto comment on the decision by Express Scripts. Jack Cox, a spokesman for Sanofi, said the drugmaker was disappointed by the CVS decision, but would continue talks with other insurers. Express Scripts is targeting $1.8 billion in additional savings for its clients next year, compared with $1.3 billion in 2016, Credit Suisse Group AG said in a note Tuesday. The exclusion of Victoza from Express Scripts is a small disappointment, Michael Novod, an analyst at Nordea Markets in Copenhagen, wrote in a note to clients.
For the original version including any supplementary images or video, visit Novo’s Victoza Diabetes Medicine Rebuffed by Express Scripts – Bloomberg
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