NVO’s Investor Day webcast corroborated the contention of other pharma companies (e.g. #msg-59590951, bottom) that operating margins in emerging markets are at least as high as they are in developed markets. This is a point that I think many investors continue to overlook.
“The notion that there’s a Chinese Wall between sell-side analysts and investment bankers may be the second-biggest piece of BS ever promulgated in any area of human knowledge!”
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