February 1, 2018 / 11:24 AM / 7 months ago

Novo Nordisk CEO welcomes Amazon, Berkshire, JPMorgan pharma company

COPENHAGEN, Feb 1 (Reuters) - Novo Nordisk's chief executive welcomes that Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co, has established a new company to cut health costs for their employees.

Lars Fruergaard Jorgensen said on Thursday that the three companies, which presented the new company on Wednesday, and Novo Nordisk would have "well-aligned objectives".

"This creates an opportunity for us to better position our products in the United States," he told investors after the company's full-year report.

Price pressure on Novo Nordisk in the United States is in part due to consolidation among so-called Pharmacy Benefit Managers who administer drug benefits for employers and health plans. (Reporting by Jacob Gronholt-Pedersen, writing by Teis Jensen; editing by Jason Neely)

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