Despite receiving approvals in the EU and Japan, Novo Nordisk's (NYSE:NVO) new insulin products Tresiba and Ryzodeg were given the red light by the FDA last week. Investors were shocked to hear the news, considering that an advisory committee that convened ahead of the official decision voted 8-4 in favor of approving the drug. Nevertheless, Novo Nordisk now has to complete a cardiovascular outcomes study in order to refile its NDAs for approval. In the meantime, Lantus, the long-acting insulin made by Sanofi (NASDAQ:SNY), is set to continue its market dominance.
Reuters, however, recently reported that Novo Nordisk is planning on selling Tresiba at a higher price than Lantus in the U.K. In this video, health care analyst Max Macaluso discusses what this means for the company and how it can justify the higher price.