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Novo Nordisk: shares down after UBS downgrade

( - The Novo Nordisk share is down 0.
3% at 389.2 Danish kronor in morning trading on Monday, after UBS downgraded the world's biggest producer of diabetes drugs to "neutral."

"Novo is up 32% this year and consensus growth estimates are now in-line with ours," the broker wrote in a note to clients.

"There are many reasons to like the fundamentals but it is time for a breather," it added.

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