NVO - Ozempic Maker's Parent Company To Invest $7B Annually By 2030: 'We Have More Money Than Ever To Invest' | Benzinga
Novo Holdings, the major shareholder of Danish pharmaceutical company Novo Nordisk (NYSE:NVO), plans to ramp up its annual investments to $7 billion by 2030.
What Happened: The investment firm, which manages the assets of the Novo Nordisk Foundation, intends to increase its annual investments from $3 billion in 2023 to $7 billion by 2030. This surge is attributed to the rising dividends from its 28% stake in Novo Nordisk and other investments, reported Financial Times on Sunday.
Novo Holdings’ CEO, Kasim Kutay, highlighted that the increasing income from its investments and the success of Novo Nordisk’s drugs like Ozempic and Wegovy drive this decision. The fund surge will be equally distributed between capital and life sciences investments.
“We have more money than ever to invest,” Kutay said.
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