Salem Radio Network News Sunday, December 10, 2023

Health

Novo Holdings CEO says IPO window to open within 18 months

By Maggie Fick

COPENHAGEN (Reuters) – The CEO of Novo Holdings, the controlling shareholder in drugmaker Novo Nordisk, said on Tuesday he sees the window for initial public offerings (IPOs) opening within 18 months and is encouraging his firm’s portfolio companies to prepare.

Novo Holdings’ CEO Kasim Kutay made the remarks while speaking to a group of journalists at the investment company’s headquarters in Copenhagen.

Novo Holdings holds 28.1% of economic (or A) shares and 76.9% of voting (or B) shares in the Denmark’s Novo Nordisk.

Novo, the drugmaker, is riding a wave of record profits from its new weight-loss and diabetes drugs, Wegovy and Ozempic. Its share price has roughly tripled over the past four years

(Reporting by Maggie Fick, Editing by Louise Heavens)

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