RTTNews | Nov 26, 2021 01:38AM EST

01:37 Friday, November 26, 2021 (RTTNews.com) - Danish pharmaceutical company Novo Nordisk A/S (NVO) Friday said it has received the results from the Volume Based Procurement or VBP tender for insulin in China.

The Chinese National Healthcare Security Administration has tendered insulin sold at hospitals, and Novo Nordisk has participated in the tender. All Novo Nordisk's insulin were included in the tender except for Ryzodeg and Xultophy.

The company said it currently expects an estimated negative impact on global sales growth of around 3% in 2022 as a result of reduced prices and reduced volumes of insulin sold in China. The VBP for insulin is expected to be implemented during the first half of 2022.

Novo Nordisk will provide its fiscal 2022 financial outlook in connection with the announcement of the full-year 2021 results on February 2.

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