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STORY: Novo Nordisk could be heading towards an initial public offering within 18 months.

That was the word from Kasim Kutay - he's the CEO of Novo Holdings, the controlling shareholder of the Danish drugmaker.

He said he sees the window for an IPO opening in the next year and a half.

And he encouraged portfolio companies to get ready.

Novo Nordisk is worth about $403 billion.

It's now Europe's most valuable listed company, having recently overtaken luxury fashion giant LVMH.

Shares have soared due to the popularity of its weight-loss and diabetes drugs Wegovy and Ozempic.

Its booming sales have led some analysts to predict the obesity market could be worth more than $100 billion by the end of this decade.

The drug maker's stock price has roughly tripled over four years.

Novo Holdings invests and manages the wealth and assets of the Novo Nordisk Foundation.