COPENHAGEN (Reuters) – Drugmaker Novo Nordisk said on Wednesday that new legislation being prepared in some U.S. states to improve pricing transparency could potentially impact business in its key market.

“If the transparency bills lead to a disclosure level that is too excessive, it becomes difficult to do business, for instance, if we have to publicly share what is in our contracts,” Chief Executive Lars Fruergaard Jorgensen told reporters.

“A couple of states like Nevada and California have pursued transparency bills where we have to disclose, basically, how we do business,” he said.