New Deal Between Emisphere Technologies Inc. (EMIS) and Novo Nordisk A/S (ADR) (NVO)

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Just recently, Novo Nordisk A/S (ADR) (NYSE:NVO) received Food and Drug Administration approval for Tresiba and Ryzodeg, two injectable insulin drugs. Tresibal had been previously rejected by the U.S. FDA over heart-safety concerns and requested a study that would investigate its cardiovascular effects. At this point in time, Tresiba is commercialized in approximately 30 countries and is expected to provide annual sales of $2.4 billion by 2020. At the same time, the drug is set to be launched during the first quarter of 2016. Meanwhile, the shares of Novo Nordisk have advanced by more than 30% since the beginning of the year, after gaining over 3% in today’s trading session.

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In the meantime, 18 hedge funds tracked by Insider Monkey had long positions in the Danish pharma company at the end of the second quarter, compared to 15 registered in the previous one. By the same token, the value of the money invested in the stock increased to $1.90 billion from $1.76 billion quarter-over-quarter. The hedge funds monitored by our team own 1.30% of the company’s outstanding shares as of June 30. Jim Simons’ Renaissance Technologies and Ken Fisher’s Fisher Asset Management are the top shareholders of Novo Nordisk A/S (ADR) (NYSE:NVO) within our database. The former owns 14.09 million shares as of June 30, while the latter holds 12.30 million shares.

Disclosure: None

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