2023-08-10 16:02:07
Danish company Novo Nordisk A/S has a market value of over $420 billion. That’s more than Denmark’s entire GDP and not much behind French luxury goods giant LVMH. informs Bloomberg.
Novo shares more than quadrupled between 2019 and 2023. They are already worth more than giants like Nestle and are trading at regarding twice the price of their immediate competitors.
The piquancy is that the company was on the crest of a wave thanks to a new generation of drugs that improve metabolism and help lose extra pounds by curbing appetite. In addition, they produce drugs for the treatment of diabetes.
The demand for these products is so significant that Novo’s capacities can no longer cope with orders. The company has even been forced to limit the supply of its popular drug Wegovy to the US and is now looking for ways to expand production.
This year, Novo was named a winner in the Pioneers category of Time’s 100 Most Influential Companies.
1691758445
#largest #company #Europe #capitalization #manufacturer #antiobesity #drugs
