Novo Nordisk A/S
Novo Nordisk is a global healthcare company and one of the most prolific producers of diabetes medications in the world. The Complaint alleges that during the Class Period, Novo Nordisk reported materially false and misleading earnings and forecasts in that they were inflated through the collusive price fixing of the Company's insulin drugs. The Complaint also alleges that Novo Nordisk misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers.
Co-Lead Plaintiffs filed a Consolidated Amended Complaint on August 4, 2017. Defendants moved to dismiss on October 3, 2017, and Co-Lead Plaintiffs opposed on November 11, 2017. Defendants’ motion is now pending, and we are awaiting a decision from the Court.
On August 16, 2018, the Court denied, in its entirety, Defendants' Motion to Dismiss. The Court found that Plaintiffs had properly alleged that Defendants made material misstatements and omissions. Now that the Court has denied Defendants' Motion to Dismiss, the case will be entering the discovery phase.