Published January 26, 2015 7:34am EST | Updated May 21, 2015 1:27pm EDT

Novo Nordisk Stock Rises On $2 Billion Buyback

Shares of Novo Nordisk gained 2.5% in premarket trade Monday after the drug manufacturer announced a new share buyback plan of up to 15 billion Danish Krone ($2.2 billion). Stock repurchases will be made over the next 12 months. Shares of Denmark-based Novo, which makes a suite of diabetes drugs, traded up around $45 premarket. They have risen more than 130% over the last year.