Business vs. Innovation

It’s getting clearer with each passing earnings report and subsequent call that there is a disconnect between the pace of innovation and the business of making money. Nowhere was the trend clearer when Novo Nordisk (NYSE: NVO) reported results this morning. During the call the company put a slide which noted the regulatory milestones achieved by Victoza®, Fiasp® and Tresiba® on the next slide they noted some additional milestones which included the 16-0 FDA panel vote in favor of their long-acting GLP-1 semaglutide. Not a bad quarter it would seem.

Yet later the financial slides weren . . .

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