“We still expect liraglutide to be approved,” Mads Krogsgaard Thomsen, Novo's executive vice president and chief science officer told Reuters.

 

But analysts weren’t so confident about the future of the drug. Jack Scannell, a Sanford C Bernstein & Co analyst in London believes “the votes were bad. Commercial reality is probably worse. It is hard to see a good way forward with respect to thyroid risk.”

 

Liraglutide is the most important products in development for Novo Nordisk, the world’s biggest maker of insulin. If it is approved by the Food and Drug Administration, the company plans to sell it under the brand name Victoza.

 

Jesper Brandgaard, Novo Nordisk Chief Financial Officer, said it’s now uncertain whether the drug will be launched by mid-2009 as was previously expected by the company. However, he added that the immediate financial impact in 2009 of a delayed launch will be limited, because the company still has a strong position thanks to its strong portfolio of modern insulins.