Novo holding company buys Norwegian Xellia

COPENHAGEN Tue May 21, 2013 5:16am EDT

COPENHAGEN May 21 (Reuters) - Novo A/S, the holding company of Danish insulin producer Novo Nordisk, on Tuesday said it had acquired Norwegian-based Xellia Pharmaceuticals for about $700 million.

The company has been bought from 3i and other shareholders, and Xellia will revert to Danish ownership with headquarters in Copenhagen, Novo A/S said in a statement.

Novo A/S owns about 25.5 percent of Novo Nordisk.