Novo Nordisk suspends worker in insider trading probe
29 Jul 2008
Novo Nordisk has suspended an employee amid suspected insider trading in the company's shares.
The firm says preliminary investigations suggest there has been a "serious violation" of its internal rules, while the employee was yesterday charged by the Danish Public Prosecutor for Serious Economic Crime.
It says the incident is believed to be an isolated case involving a single employee who does not have management responsibilities but who did have access to information which could influence the company's share price.
The firm adds that, as part of an agreement with the Danish Public Prosecutor, no further details can be divulged at this stage, pending further enquiries.
Novo Nordisk last month revealed positive clinical study data for its diabetes medication liraglutide.
It said the data demonstrated its once-daily liraglutide treatment showed a statistically significant improvement in blood sugar control in type-two diabetes patients when compared with glimepiride, a widely-used oral antidiabetic drug.
