Diabetes Drug Approval Lifts Novo Nordisk, Amylin Stock

The U.S. Food and Drug Administration has finally approved Novo Nordisk's (NVO) new once-daily injection for treating Type 2 diabetes, Victoza. Shares on Tuesday jumped about 3.8% in early afternoon trading in response to Monday's approval, as it came after some delays due to safety concerns. The Danish drug maker plans to launch Victoza in the U.S. within weeks.