Jarmo Friman added Novo Nordisk to his portfolio – “I can’t do anything about it”

Private investor Jarmo Friman revealed on Wednesday Kauppalehti live In the Talousamau programthat he has added a pharmaceutical giant Novo Nordiskin share in his investment portfolio.

“In some way, the investor community is a pack of scumbags. After all, you have to think in such a way that you dig where no one else is. Go to the trash cans, dive headfirst into the trash,” Friman said.

“But let’s think about the other side. What in the world is a bigger health megatrend than weight gain or diabetes? There are literally hundreds of millions of potential customers for a company like Novo.”

Friman wonders why people sold Novo for less than 300 Danish kroner and “bought Simon for more than a thousand”.

“It doesn’t go to my little head at all. I’d rather buy for 300. Back then, I didn’t really buy it for a thousand. I thought it was too expensive,” Friman said.

Novo Nordisk share price fat stock market sharply on Monday after a pill version of diet drug Ozempic disappointed when it failed to slow the progression of Alzheimer’s disease in two major studies. The share fell to DKK 287 in Copenhagen on Monday.

“At the moment, competitor Eli Lilly’s backward-looking p/e number is over 50, and Novo’s is around 12. Does it make sense that the two comparable companies have a fourfold valuation difference?” Friman pondered.

“Why do you go and kick someone lying on the ground? Why don’t you pat him on the head? I think that Novo is just too cheap. I believe that it will rise to at least 400-500 kroner, maybe already within a year. In addition, it will have a dividend many times that of Eli Lilly.”

The financial morning was broadcast on Wednesday live from the Investor 2025 event at Helsinki Messukeskus. Wednesday’s Talousam was hosted by a reporter Tuomo Hyttinen.

The Investor 2025 event is an event organized by Alma Media and Messukeskus, with Kauppalehti and Arvopaperi as media partners. Journalistic decisions are always made in the editorial office.

Watch the full recording of Wednesday’s Talousaamu program from here.