Novo Nordisk to join elite Stoxx Europe 50 index

Rating is likely to impact positively on share price

The medicinal giant Novo Nordisk will soon take its place on the prestigious Euro Stoxx 50 index, the leading rating system of European blue chips, where it will join the likes of Bayer, Shell, AB-Inbev and HSBC, Børsen reports.

 READ MORE: Novo Nordisk reports recordbreaking year

On June 22, Novo Nordisk will bump the British bank Standard Chartered from the list of high-flying European companies. The promotion is likely to impact positively on the company’s share price, according to Børsen, as a number of investment funds structure their portfolio to match the index.

The company’s stock has been steadily climbing since January, following a year in which Novo Nordisk earned the equivalent of four million kroner per hour, day and night.

With a market value of 1,000 billion kroner, Novo will be the seventh biggest company on the Euro Stoxx 50.