Novo Nordisk is exploring the possibility of upgrading its New York listing to a direct listing on the New York Stock Exchange, a move that would replace its current American depositary receipts. This consideration is driven by the company's desire to raise its profile and increase visibility within the United States, a critical market for its expanding weight-loss drug business.
CEO Mike Doustdar expressed that he sees “some advantages” in such a change, although he noted the company is not actively working on it at present. He emphasized his open-minded approach, stating he typically starts with "maybe" and seeks to understand the pros and cons through dialogue.
This potential upgrade follows a similar strategy by its UK rival, AstraZeneca, earlier this year. A direct NYSE listing would allow Novo Nordisk to deepen its engagement with U.S. capital markets and potentially strengthen its accessibility for American investors. The company's stock recently experienced a nearly 8% drop, bringing its year-to-date decline to over 20%, reducing its market value to approximately $176 billion.
