Novo Nordisk weighs direct New York listing as US revenue grows

Novo Nordisk is open to considering a direct New York Stock Exchange listing to replace the American depositary receipts currently used by U.S. investors, as the United States generates more than half of its revenue and an increasing share of its investor base. CEO Mike Doustdar said such a move could offer advantages, but stressed that the company is not actively discussing or pursuing it. The possibility comes as Novo seeks to rebuild investor confidence after its shares fell sharply from their 2024 peak amid intensifying competition from Eli Lilly in the weight-loss drug market.