Quoted from http://www.reuters.com/article/2012/04/20/us-novonordisk-victoza-idUSBRE83J0FZ20120420
Novo Nordisk rejects diabetes drug Victoza complaint
COPENHAGEN | Fri Apr 20, 2012 6:00am EDT
COPENHAGEN (Reuters) - Danish drugmaker Novo Nordisk rejected a consumer advocacy group's complaint about its big-selling diabetes drug Victoza as groundless and said it did not expect U.S. regulators to take any action.
Its shares initially dropped more than 2 percent in brisk trade on Friday after non-profit group Public Citizen asked the U.S. Food and Drug Administration (FDA) to withdraw approval of Victoza.
Novo Nordisk, the world's biggest producer of insulin used to treat diabetes, was the most-traded stock on the Copenhagen bourse, with more than 350 million Danish crowns ($61.8 million) worth changing hands.
Public Citizen said on Thursday that Victoza increases the risk of serious health problems such as thyroid cancer and kidney failure.
Novo Nordisk's Chief Science Officer Mads Krogsgaard Thomsen told Reuters on Friday that Public Citizen had referred to old data from studies on mice and rats which had no relevance to the use of Victoza in humans.
"We do not expect any consequences for Victoza from Public Citizen's petition," Thomsen said. "There is nothing in it."
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