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Novo Holdings Reports Record Income Despite Novo Nordisk's Market Decline

The investment arm of Novo Nordisk doubled its 2024 income to €8 billion, driven by obesity drug dividends, while focusing on Asian expansion to counter challenges.

The logo of Danish drugmaker Novo Nordisk in their offices in Hillerod, Denmark, September 26, 2023.
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Overview

  • Novo Holdings achieved record income of €8 billion in 2024, nearly doubling its returns from the previous year, fueled by dividends from Wegovy and Ozempic sales.
  • Despite the income surge, Novo Holdings' total assets under management fell to €142 billion, reflecting a sharp decline in Novo Nordisk's market value, which has halved since mid-2024.
  • Novo Nordisk's stock dropped 24% in March 2025, exacerbated by disappointing trial results for its next-generation obesity drug, CagriSema, which underperformed expectations.
  • Novo Holdings invested €4.6 billion in life sciences in 2024, targeting areas such as cancer and obesity, while acquiring Catalent for $16.5 billion to enhance drug production capacity.
  • The company is prioritizing global expansion in 2025, with a focus on Asia, including opening a new office in Mumbai, India, to tap into emerging markets.