Novo Nordisk Foundation

“The operating company is now publicly traded, but still, that foundation controls 77% of the voting shares of Novo Nordisk and 28% of the economic shares.”

“Management comes in, they present in two board meetings, first in August, 2004, and then the second one in September where they get a do over and they fail to convince the foundation board. So they block the merger.”

“Novo Holdings, which is the vehicle by which the foundation holds their stakes in Novo Nordisk and Novozymes, they're sort of assets under management and thus the endowment of the foundation. Is worth a hundred and twenty billion dollars, which makes it the si…”