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Novo Nordisk Plummets Amid Pricing Challenges in U.S. Market

  • Danish company says it lost key contract for NovoLog insulin
  • Novo Nordisk trims sales and profit forecasts for 2016

Novo Nordisk A/S is headed for its biggest drop in 3 1/2 years after the world’s biggest maker of insulin trimmed its sales and profit forecasts for the year, signaling intensifying pricing pressure from customers in its largest market.

Profit this year is likely to climb as much as 8 percent, down from an earlier projection of as much as 9 percent, the Bagsvaerd, Denmark-based company said in a statement on Friday.

Growth in 2016 will be weighed down by the loss of a “sizable” contract for its...