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Home Industry News Novo Nordisk investigates insider trading

Novo Nordisk investigates insider trading

4th August 2008

An employee at healthcare company Novo Nordisk has been suspended following a preliminary investigation into insider trading, according to reports.

According to the firm, which specialises in diabetes care, it has been indicated that the employee in question may have broken internal rules regarding the trading of the company’s shares.

The employee was charged by the Danish public prosecutor for serious economic crime yesterday and Novo has since announced that the member of staff has had access to information that could affect its share price.

However, it has also been advised that the employee did not have any managerial responsibilities and it is thought the incident is being treated as an “isolated case”.

Novo Nordisk stated that it is co-operating with prosecutors in the matter although no further details over the issue can be released at this point.

The company employs 26,000 people and markets its products in 180 countries around the world.

Its shares can be found on both the London and Copenhagen stock exchanges.

Last month, Novo Nordisk announced headline clinical results from a phase 3 clinical study that compared the effects of the liraglutide once-daily treatment, with exenatide a twice-daily solution for blood glucose control.

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