Novo Nordisk owner invests $290 mln in energy transition fund

The controlling shareholder in drugmaker Novo Nordisk on Thursday announced a major investment in a new energy transition fund as it expands its portfolio beyond health. Novo Holdings controls 76% of the votes in Denmark's Novo Nordisk, which became Europe's most valuable company last week on the back of soaring profits from its weight-loss drug Wegovy and type 2 diabetes drug Ozempic. Novo Holdings said it will invest about 2 billion Danish kroner ($290 million) in a new fund managed by Glentra Capital, an investment firm set up last year by two Danish businessmen.