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U.S. law firm files class action suit against Novo Nordisk
January 12, 2017 / 6:42 AM / 8 months ago

U.S. law firm files class action suit against Novo Nordisk

COPENHAGEN, Jan 12 (Reuters) - A U.S. law firm has filed a securities class action lawsuit on behalf of Lehigh County Employees’ Retirement System against Danish drugmaker Novo Nordisk.

The complaint alleges that during 2015 and 2016 Novo reported “materially false and misleading earnings and forecasts in that they were inflated through the collusive price fixing of the company’s insulin drugs,” law firm Bernstein Litowitz Berger & Grossmann said in a press release.

Novo Nordisk misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers, it added.

Novo Nordisk was not immediately available for comment. (Reporting by Teis Jensen; Editing by Vyas Mohan)

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