Novo Nordisk CEO Mike Doustdar stated the company is open to considering a direct listing on the New York Stock Exchange, which would replace the American depositary receipts (ADRs) currently used by U.S. investors. [3, 4, 5] While Doustdar clarified that the company is not actively exploring a change to its listing structure, he acknowledged seeing “clear advantages” to the idea. [3, 6, 9]
The potential move highlights the growing importance of the American market, which accounts for more than half of the Danish drugmaker's revenue and an expanding portion of its investor base. [12] A direct listing would simplify access for U.S. investors, potentially opening the door to inclusion in more funds and increasing trading liquidity. [5, 8]