Danish pharmaceutical company Novo Nordisk A/S (NVO) Friday said it has received the results from the Volume Based Procurement or VBP tender for insulin in China.
The Chinese National Healthcare Security Administration has tendered insulin sold at hospitals, and Novo Nordisk has participated in the tender. All Novo Nordisk's insulin were included in the tender except for Ryzodeg and Xultophy.
The company said it currently expects an estimated negative impact on global sales growth of around 3% in 2022 as a result of reduced prices and reduced volumes of insulin sold in China. The VBP for insulin is expected to be implemented during the first half of 2022.
Novo Nordisk will provide its fiscal 2022 financial outlook in connection with the announcement of the full-year 2021 results on February 2.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.