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    Home > Finance > Activist hedge fund Parvus builds stake in Novo Nordisk, FT reports
    Finance

    Activist hedge fund Parvus builds stake in Novo Nordisk, FT reports

    Published by Global Banking & Finance Review®

    Posted on June 9, 2025

    2 min read

    Last updated: January 23, 2026

    Activist hedge fund Parvus builds stake in Novo Nordisk, FT reports - Finance news and analysis from Global Banking & Finance Review
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    Tags:Financial TimesHedge Fundsinvestmentcorporate governance

    Quick Summary

    Parvus Asset Management is building a stake in Novo Nordisk to influence CEO selection amid competition from Eli Lilly.

    Parvus Asset Management Increases Stake in Novo Nordisk Amid CEO Change

    (Reuters) -Activist hedge fund Parvus Asset Management is building a stake in Novo Nordisk amid investor concerns that the Danish drugmaker has lost its first-mover advantage in the lucrative weight-loss drug market, the Financial Times reported on Monday.

    The London-based fund, which has earlier targeted budget airline Ryanair and Italian bank UniCredit, wants to influence the appointment of Novo Nordisk's new CEO, the report said, citing people with knowledge of the details.

    Novo told Reuters in an email that it does not "have anything to add." Parvus did not immediately respond to a request for comment.

    In May, the company announced its CEO Lars Fruergaard Jorgensen would step down after shares plunged from a record-high in June last year as competition, particularly from U.S. rival Eli Lilly, makes inroads into Novo's market share, while its pipeline of new drugs has failed to impress investors.

    Novo also expects its Wegovy weight-loss drug sales in the United States to start recovering once a ban on compound copycats is enforced this month, Jorgensen said in May after the company cut its 2025 forecasts.

    The FT report said that Parvus did not disclose the size of its stake in Novo Nordisk. In Danish securities law, if the stake surpasses the 5% threshold, shareholders are required to disclose their holdings and changes in holdings to the issuer and the Danish Financial Supervisory Authority (FSA).

    Parvus, which previously built a stake in UniCredit, approved its CEO Andrea Orcel's pay package in 2023. The fund dissolved its stake in Ryanair in April, but also holds a 4.3% stake in Flutter Entertainment, according to data compiled by LSEG.

    (Reporting by Gnaneshwar Rajan and Puyaan Singh in Bengaluru; Additional reporting by Christy Santhosh; Editing by Alan Barona)

    Key Takeaways

    • •Parvus Asset Management is increasing its stake in Novo Nordisk.
    • •The hedge fund aims to influence the appointment of a new CEO.
    • •Novo Nordisk faces competition from Eli Lilly in the weight-loss market.
    • •Novo's shares have dropped due to competitive pressures.
    • •Parvus previously held stakes in Ryanair and UniCredit.

    Frequently Asked Questions about Activist hedge fund Parvus builds stake in Novo Nordisk, FT reports

    1What is Parvus Asset Management's interest in Novo Nordisk?

    Parvus Asset Management is building a stake in Novo Nordisk and aims to influence the appointment of the company's new CEO.

    2Why is Novo Nordisk's CEO stepping down?

    CEO Lars Fruergaard Jorgensen is stepping down after shares fell from a record high due to increased competition from U.S. rival Eli Lilly.

    3What are the implications of Parvus's stake size?

    Parvus has not disclosed the size of its stake, but under Danish securities law, any stake over 5% must be disclosed by shareholders.

    4What is the current status of Novo Nordisk's Wegovy drug sales?

    Novo Nordisk expects sales of its Wegovy weight-loss drug in the U.S. to recover once a ban on compound copycats is enforced.

    5What previous companies has Parvus targeted?

    Parvus Asset Management has previously targeted budget airline Ryanair and Italian bank UniCredit.

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