Novo Nordisk shares plunges amid US lawsuit, Trump comments
With the new year coming along, it is hard to say what the rest of the forecast looks. Several businesses are going through their own ups and downs, technology is changing, and projects are being made and canceled. While some people have a lot to clean up after, others are taking this New Year as a window of opportunity to go forward and do something different. The spirit of change is upon us, but what does this have to say about our newly elected President, Donald Trump? Will he wind up getting into trouble or will he do what he promised and "Make America Great Again?" None can say for sure, but it's clear that a few ripples have been spread across the media, picking up any type of activity.
One of those actions includes him commenting on Novo Nordisk and his well-being in the stock market. According to Reuters, NOVOb.CO had a more than 5 percent fall in their shares, perking the interest of Donald Trump, who criticized the prices of the drugs. This fall in their shares came following a lawsuit against said company after the President's criticism. Trump states that with the prices the pharmaceutical companies were charging the government, they were basically "getting away with murder."
Daily Magazine confirms that the pharmaceutical industry is having second thoughts in talking about drug prices for the U.S. since they are generally the highest in the world due to many factors, two of which being market fragmentation and free market policies. Because of all these changes, not much can be predicted in the coming year. The prices are reluctant in going higher and are even more so when decreasing, but it is indeed made clear that Donald Trump is at least showing effort in his campaign to better America for its people. With these issues arising, Novo Nordisk will be facing a class action lawsuit on behalf of Lehigh County Employees' Retirement System, showing dark skies ahead for the company.