Novo Nordisk shares fell sharply in early Monday trading in Copenhagen after a major shareholder publicly condemned the company's corporate governance practices.
The C25 index edged up 0.1% at the open, but the weight-loss drug maker's stock dragged on the broader market as investors digested the criticism.
The shareholder described the governance as "extremely poor," signaling a potential escalation in tensions between the board and key institutional backers.
Such public rebukes from large holders are rare for the Danish pharma giant and raise questions about strategic alignment and oversight.
The dispute comes amid heightened scrutiny of corporate governance standards across Nordic equities.
Investors are now assessing whether the criticism reflects isolated concerns or a broader rift that could impact executive decisions and long-term strategy.