Danish Jyske Bank reduces its 2022 revenue and earnings estimates for Novo Nordisk by a respective 3.1 and 4.8 percent as a consequence of China's healthcare reform efforts to keep costs down, writes Chief Analyst at Jyske Bank Henrik Hallengreen Laustsen. The analyst has the recommendation "hold" with a share price target of DKK 645 for Novo Nordisk.
Medicine prices have been a recurrent theme recently, particularly in the US. China has also jumped on the bandwagon by introducing volume-based procurement (VBP) with a sixth round including insulin, which will affect prices, the bank says.
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