- Novo Nordisk's ownership structure has created a health investment behemoth
- Recent buyouts and funding show the direction of travel in biotech
Until recently, Novo Nordisk (DN:NOVO.B) was known for its portfolio of diabetes treatments, which included the blood sugar control aid Ozempic. But everything changed in 2021 when regulators approved a high-dose version of the GLP-1 drug for the treatment of obesity.
The subsequent urge in demand for weight-loss drugs means Novo Nordisk is now Europe’s most valuable company, worth $400bn (£331bn) – higher than Denmark's gross domestic product (GDP). This meteoric rise has benefited the company’s investors, and none more so than its controlling shareholder, Novo Holdings.