{
 "as_of": "2026-11-06",
 "cmr": "ca-cm-kg/TSX/NOVO",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# Novo Nordisk CDR (CAD Hedged) (TSX: NOVO) — research page\n\nAs of 2026-11-06 · ca-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is Novo Nordisk CDR (CAD Hedged), listed on the TSX under ticker NOVO. The ISIN is not on the record; the page ISIN DK0062498333 is not a Canadian ISIN. The LEI is not on the record. The security type is CDR and the sector is CDR. The segment is not on the record. The jurisdiction is not on the record, as the security is a fund or receipt and was not searched. The issuer is listed and not halted.\n\n## The disclosure read\n\nThe record holds 0 filings in the twelve months to 2026-11-06, on 0 filing days. The median gap between filing days is not on the record. The latest filing date is not on the record, and so is the latest filing type and the days from the latest filing to the record date. The TSX median cadence gap is 16 days across 2270 issuers, with a median of 0.0 filings and a median latency of 3.0 days. The CDR sector median filings is 0 across 131 issuers; its median cadence gap and median latency are not on the record.\n\n## Auditor\n\nThe auditor of record is not on the record, as the security was not searched for auditor data. Its location is not on the record. The record holds no auditor changes.\n\n## Events and halts\n\nThe record holds no listing, delisting, name change, domicile change or segment move lines. The halt flag is listed, not halted.\n\n## Orderability\n\nUnder the rule version acm-68000/ca/kyp-know-your-product-ni-31-103/r1, with the chapter as of 2026-11-04, the outcome for paragraph (o) of the definition is signal ACM-200 and is determinable. The outcome for paragraph (q) of the definition is signal ACM-200 and is determinable.\n\n## Coverage\n\nThe issuer's own investor-relations page names 30 research houses: ABG Sundal Collier, Barclays Capital, Berenberg, Bernstein SG, BMO, BNP Paribas, Citigroup, Danske Bank, Deutsche Bank, DNB Carnegie, Goldman Sachs, Guggenheim, JPMorgan, Jefferies & Company, Kepler Cheuvreux, Morgan Stanley, Morningstar, Nordea, Redburn, Cowen, UBS, HSBC, Intron Health, J.P. Morgan, Jyske Bank, Nordea Markets, Oddo Securities, SEB, Sydbank and TD Cowen.\n\n## Open research\n\nNo openly published research notes were found for the issuer on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe record holds no sealed years for this issuer, and the market's vintage is not sealed. The live record began on 2026-09-10. Years 2021 through 2026 are sealed in the store but are not served as of a date; the as-of door answers not_sealed.\n\n## Sources\n\n7 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.tsx.com/json/company-directory/search/tsx/^* (identity.exchange)\n- https://www.tsx.com/en/resource/571 (identity.sector)\n- https://mcp.ca-cm-kg.ai/events/TSX/NOVO (the disclosure lines)\n- https://iiroc.mediaroom.com/index.php?s=2429&l=100 (the halt flag)\n- https://mcp.ca-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.novonordisk.com/investors/stock-information.html (coverage)\n- https://mcp.ca-cm-kg.ai/record/TSX/NOVO (the record)\n",
 "market": "CA",
 "node": "ca-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": "2026-09-10",
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "6 years are sealed in the CA store; their Replay split is not built, so the as-of door answers not_sealed and the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false,
   "store_years_sealed_not_served": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ]
  },
  "auditor": {
   "auditor": {
    "market": "CA",
    "reason": "not searched (fund/receipt security)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "CA",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "CA",
    "state": "not_on_record"
   },
   "changes": []
  },
  "cmr": "ca-cm-kg/TSX/NOVO",
  "coverage": {
   "count": 30,
   "houses": [
    {
     "analyst": "Morten Larsen",
     "house": "ABG Sundal Collier",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "James Gordon",
     "house": "Barclays Capital",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Kerry Holford",
     "house": "Berenberg",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Justin Smith",
     "house": "Bernstein SG",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Evan David Seigerman",
     "house": "BMO",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Peter Verdault",
     "house": "BNP Paribas",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Graham Parry",
     "house": "Citigroup",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Carsten Lønborg Madsen",
     "house": "Danske Bank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Emmanuel Papadakis",
     "house": "Deutsche Bank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Rune Majlund Dahl",
     "house": "DNB Carnegie",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "James Quigley",
     "house": "Goldman Sachs",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Seamus Fernandez",
     "house": "Guggenheim",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Richard Vosser",
     "house": "JPMorgan",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Michael Leuchten",
     "house": "Jefferies & Company",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "David Evans",
     "house": "Kepler Cheuvreux",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Thibault Boutherin",
     "house": "Morgan Stanley",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Karen Andersen",
     "house": "Morningstar",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Martin Brenøe",
     "house": "Nordea",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Simon Baker",
     "house": "Redburn",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Michael Nedelcovych",
     "house": "Cowen",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Matthew Weston",
     "house": "UBS",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Rajesh Kumar",
     "house": "HSBC",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Naresh Chouhan",
     "house": "Intron Health",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Richard Vosser",
     "house": "J.P. Morgan",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Henrik Hallengreen Laustsen",
     "house": "Jyske Bank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Martin Brenøe",
     "house": "Nordea Markets",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Florent Cespedes",
     "house": "Oddo Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Martin Parkhøi",
     "house": "SEB",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Søren Løntoft Hansen",
     "house": "Sydbank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    },
    {
     "analyst": "Michael Nedelcovych",
     "house": "TD Cowen",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.novonordisk.com/investors/stock-information.html",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.novonordisk.com/investors/stock-information.html",
     "result": "read: 30 of 50 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 2270,
     "median_cadence_gap_days": 16,
     "median_filings": 0,
     "median_latency_days": 3,
     "name": "TSX"
    },
    "sector": {
     "issuers": 131,
     "median_cadence_gap_days": null,
     "median_filings": 0,
     "median_latency_days": null,
     "name": "CDR"
    }
   },
   "by_type": {},
   "cadence_median_gap_days": null,
   "filing_days": 0,
   "filings": 0,
   "latency_days": null,
   "latest": [],
   "latest_filing_date": null,
   "note": "no disclosure line on the record for this issuer in the window",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.ca-cm-kg.ai/events/TSX/NOVO",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "tsx.com company directory (exchange list)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.tsx.com/json/company-directory/search/tsx/^*",
    "state": "sourced",
    "value": "TSX"
   },
   "isin": {
    "market": "CA",
    "reason": "page ISIN DK0062498333 is not a Canadian ISIN",
    "state": "not_on_record"
   },
   "jurisdiction": {
    "market": "CA",
    "reason": "not searched (fund/receipt security)",
    "state": "not_on_record"
   },
   "lei": {
    "market": "CA",
    "reason": "no ISIN",
    "state": "not_on_record"
   },
   "name": {
    "read_by": "tsx.com company directory (exchange list)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.tsx.com/json/company-directory/search/tsx/^*",
    "state": "sourced",
    "value": "Novo Nordisk CDR (CAD Hedged)"
   },
   "sector": {
    "read_by": "TMX listed-companies workbook (exchange list, monthly; data month named in the source column)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.tsx.com/en/resource/571 (tsx-and-amp-tsxv-listed-companies-2026-08-14-en.xlsx, data as of 31-Jul-2026)",
    "state": "sourced",
    "value": "CDR"
   },
   "security_type": {
    "read_by": "TMX listed-companies workbook (exchange list, monthly; data month named in the source column)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.tsx.com/en/resource/571 (tsx-and-amp-tsxv-listed-companies-2026-08-14-en.xlsx, data as of 31-Jul-2026)",
    "state": "sourced",
    "value": "CDR"
   },
   "segment": {
    "market": "CA",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "tsx.com company directory (exchange list)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.tsx.com/json/company-directory/search/tsx/^*",
    "state": "sourced",
    "value": "NOVO"
   },
   "website": {
    "market": "CA",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": [],
   "domicile_change": [],
   "listing": [],
   "name_change": [],
   "segment_move": []
  },
  "market": "CA",
  "node": "ca-cm-kg",
  "numbers_hash": "sha256:56a0b3aec966b990346d04f9d77a5e6aa1bfa0f8da3cf1cfa88df775788c5eae",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Paragraph (o) of the definition",
    "Paragraph (q) of the definition"
   ],
   "outcomes": {
    "Paragraph (o) of the definition": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Paragraph (q) of the definition": {
     "determinable": true,
     "signal": "ACM-200"
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.ca-cm-kg.ai/book/aio.json",
    "door": "https://mcp.ca-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/ca/kyp-know-your-product-ni-31-103/r1",
   "section": "ca.aio.v11"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.ca-cm-kg.ai/record/TSX/NOVO",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://iiroc.mediaroom.com/index.php?s=2429&l=100",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:56a0b3aec966b990346d04f9d77a5e6aa1bfa0f8da3cf1cfa88df775788c5eae",
 "path": "/ca/TSX/NOVO",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is Novo Nordisk CDR (CAD Hedged), listed on the TSX under ticker NOVO. The ISIN is not on the record; the page ISIN DK0062498333 is not a Canadian ISIN. The LEI is not on the record. The security type is CDR and the sector is CDR. The segment is not on the record. The jurisdiction is not on the record, as the security is a fund or receipt and was not searched. The issuer is listed and not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 0 filings in the twelve months to 2026-11-06, on 0 filing days. The median gap between filing days is not on the record. The latest filing date is not on the record, and so is the latest filing type and the days from the latest filing to the record date. The TSX median cadence gap is 16 days across 2270 issuers, with a median of 0.0 filings and a median latency of 3.0 days. The CDR sector median filings is 0 across 131 issuers; its median cadence gap and median latency are not on the record.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record, as the security was not searched for auditor data. Its location is not on the record. The record holds no auditor changes.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The record holds no listing, delisting, name change, domicile change or segment move lines. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "Under the rule version acm-68000/ca/kyp-know-your-product-ni-31-103/r1, with the chapter as of 2026-11-04, the outcome for paragraph (o) of the definition is signal ACM-200 and is determinable. The outcome for paragraph (q) of the definition is signal ACM-200 and is determinable.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's own investor-relations page names 30 research houses: ABG Sundal Collier, Barclays Capital, Berenberg, Bernstein SG, BMO, BNP Paribas, Citigroup, Danske Bank, Deutsche Bank, DNB Carnegie, Goldman Sachs, Guggenheim, JPMorgan, Jefferies & Company, Kepler Cheuvreux, Morgan Stanley, Morningstar, Nordea, Redburn, Cowen, UBS, HSBC, Intron Health, J.P. Morgan, Jyske Bank, Nordea Markets, Oddo Securities, SEB, Sydbank and TD Cowen.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found for the issuer on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The record holds no sealed years for this issuer, and the market's vintage is not sealed. The live record began on 2026-09-10. Years 2021 through 2026 are sealed in the store but are not served as of a date; the as-of door answers not_sealed.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "7 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.tsx.com/json/company-directory/search/tsx/^*"
  },
  {
   "for": "identity.sector",
   "source": "https://www.tsx.com/en/resource/571"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.ca-cm-kg.ai/events/TSX/NOVO"
  },
  {
   "for": "the halt flag",
   "source": "https://iiroc.mediaroom.com/index.php?s=2429&l=100"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.ca-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://www.novonordisk.com/investors/stock-information.html"
  },
  {
   "for": "the record",
   "source": "https://mcp.ca-cm-kg.ai/record/TSX/NOVO"
  }
 ],
 "title": "Novo Nordisk CDR (CAD Hedged) (NOVO) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}