Novo Nordisk gains after FDA and US patent office decision

Europe's largest listed company, Novo Nordisk (NOVOB.DK) is gaining nearly 2% in today's session following decisions by the FDA and the US patent office. A tribunal of the U.S. patent office rejected a request by Mylan Pharmaceuticals to review the validity of patents held by Novo on the main active ingredients in Wegova and Ozempic. What's more, the FDA, or U.S. Food and Drug Administration, has approved Novo Nordisk's making a proprietary therapy to treat a rare genetic defect of the kidneys. 

The drug will be given by injection under the brand name Rivfloza. The therapy is to be priced according to the clinical value and benefit of people struggling with the disease, the company added. There may be more than 2,000 such individuals (suffering from hyperoxaluria) in the US, the company added. 

Source: xStation 5