Novo Holdings posts record Total Income and Investment Returns of DKK 60 billion (€8.0 billion) in 2024, with the Investment Portfolio delivering above-benchmark returns, alongside strong growth at the Novo Group companies
COPENHAGEN, Denmark, April 2, 2025 /PRNewswire/ -- Novo Holdings today announced its financial results for 2024.* Record returns from the Investment Portfolio and growth of the Novo Group companies drive Total Income and Investment Returns to DKK 60 billion (€8.0 billion) for 2024, up from DKK 31 billion (€4.2 billion) in 2023. The Investment Portfolio generated a return of 18.0%, compared with 9.4% in 2023. Including Special Investments,** the Total Investment Return for 2024 is 19.2%.
Total Income and Investment Returns of DKK 60 billion consist of Income from dividends and the share repurchase programmes of the Novo Group companies (Novo Nordisk A/S and Novonesis A/S), totalling DKK 23 billion (€3.1 billion), and Returns from the Investment Portfolio generating an income of DKK 37 billion (€4.9 billion). The 5- and 10-year trailing returns of the Investment Portfolio are 10% for both horizons.
Novo Holdings closed 2024 with Total Assets under Management of DKK 1,060 billion (€142 billion), down from 1,114 billion (€149 billion) in 2023, driven by a decline in the market value of Novo Nordisk.
Kasim Kutay, CEO of Novo Holdings, said: "2024 was a very strong year for Novo Holdings, with our Investment Portfolio delivering its best ever performance and the Novo Group companies contributing significantly to our Total Income and Returns of DKK 60 billion (€8.0 billion). These results enable us to continue delivering on our purpose of improving people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation."
Strong year for both Life Science and Capital Investments
The Novo Holdings Investment Portfolio comprises Life Science Investments (Principal Investments, Growth Investments, Venture Investments, Seed Investments, Asia Investments and Planetary Health Investments), making up 59% of the total portfolio, and Capital Investments, making up the remaining 41% of the portfolio.
The Capital Investments team provides global exposure beyond the life science sectors and, in alignment with the Novo Holdings Strategy 2030, is actively expanding and diversifying the total portfolio. The team focuses on public equity, fixed income, private equity and venture capital (non-life sciences), real assets, and credit. Further, Capital Investments enhances Novo Holdings' focus on the green transition by investing in the scaling of green infrastructure and renewable energy.
In 2024, Capital Investments closed the year with DKK 95 billion (€13 billion) of Investment Assets and generated profits of DKK 13 billion (€1.7 billion).
In Life Science Investments, the investment activities are focused on addressing human health and, increasingly, on the health of the planet via Novo Holdings' Planetary Health Investments platform.
In 2024, Life Science Investments closed the year with DKK 134 billion (€18 billion) of Investment Assets and generated profits of DKK 24 billion (€3.2 billion).
The Life Science Investments teams invested in a range of biotechnologies to advance new treatments for conditions such as cancer, cardiometabolic diseases, and neurodegenerative disorders, among other areas in which innovative therapies are crucial for improving patient outcomes. In 2024, Novo Holdings deployed DKK 34 billion (€4.6 billion) into life sciences.
In total, 43 new companies were welcomed to the Investment Portfolio in 2024, and multiple follow-on investments were made. By year-end, Novo Holdings had exited 27 companies, and the Investment Portfolio comprised 181 companies.
Landmark acquisition of Catalent
With the $16.5 billion (DKK 118 billion) acquisition of Catalent, a global CDMO (Contract Development and Manufacturing Organisation), Novo Holdings' buyout platform, Principal Investments, led the largest healthcare buyout globally in 2024.
Each year, Catalent supplies nearly 70 billion doses of more than 7,000 products and assembles over 320,000 clinical supply patient kits across 1,200 different protocols. Catalent has 1,500 active development programmes supported by more than 2,500 scientists and technicians and has supported nearly 50% of the FDA new drug approvals in the last 10 years, demonstrating the strength of its industry-leading capabilities.
Christoffer Søderberg, Managing Partner, Principal Investments, said:"We are delighted to welcome Catalent to our portfolio. The pharma services sector is core to our investment strategy and aligns with our focus on fostering innovation and sustainable value creation across the life sciences ecosystem. Through our engaged ownership model we will leverage our extensive network and deep sector expertise to support Catalent's continued development, enabling the Company to expand its market leadership and deliver even greater value to its customers."
In 2024, Novo Holdings embarked on the execution of its Strategy 2030, which encompasses operational scaling of our investment platforms and the acceleration of Planetary Health Investments to advance the green transition of ...
https://www.benzinga.com/pressreleases/25/04/n44600118/novo-holdings-posts-record-total-income-and-investment-returns-of-dkk-60-billion-8-0-billion-in-20
