Novo Nordisk (NVO) shares are up 3.24% to $105.96 as of 1:25 pm on Friday, rising from the previous close of $102.63. The stock's upward movement is primarily driven by reports that the European Union's antitrust regulator is likely to approve Novo Holdings' $16.5 billion acquisition of Catalent, which has been under scrutiny for potential antitrust concerns. This development, reported at 12:34 pm, has positively impacted investor sentiment towards Novo Nordisk, as Novo Holdings is the parent company of the pharmaceutical giant.
Additionally, institutional interest in Novo Nordisk has been strong, with Meridian Wealth Management LLC making a new $15.11 million investment in the company during the third quarter, as reported at 9:29 am. This follows LPL Financial LLC's acquisition of 47,496 shares, increasing its holdings by 3.6% in the same period.