Novo Nordisk 'B'

Novo Nordisk has exclusively licensed Nanexa’s Pharmashell technology for up to five development programs and will lead global development and commercialization. The aim is controlled release that could reduce injection frequency for obesity and diabetes drugs to monthly or quarterly. Novo will provide up to €1.2bn; Nanexa receives €615m in upfront payments and can earn up to €1.17bn in milestone payments. After the announcement, Nanexa’s share price doubled and Novo Nordisk traded slightly higher. » Plus sur finanzen.net

After the capital markets day, investors and analysts criticised Novo Nordisk’s vague growth targets; CEO Mike Doustdar says confidence can only be regained through financial and scientific results quarter by quarter. The targets through 2030/2035 and the planned expansion beyond diabetes and obesity have so far been unconvincing, which is why the stock fell after the presentation. Analysts fault the lack of concrete evidence, Jefferies sees no clear safeguard for the growth trajectory, and the patent-relevant dependence on semaglutide remains a risk. Doustdar does not rule out acquisitions to close gaps; the market now wants near-term, verified results instead of long-term promises. » Plus sur finanzen.net

CEO Mike Doustdar signals openness to a direct listing of Novo Nordisk shares on the NYSE to better serve the changed shareholder structure and the company's significant US business. The company is not actively pursuing the idea at present and wants to weigh the pros and cons. A direct listing could boost liquidity and price discovery during US trading hours and tie valuation more closely to US peers like Eli Lilly, while the B share in Copenhagen would remain the standard for European investors. » Plus sur finanzen.net