Novonordisk rose to the position as Europe’s most valued company after the company’s anti-obesity medicine, Wegovy, was introduced in the UK.
This gave the company a stock market boost and a market value equivalent to 428 billion dollars. Luxury giant LVHM, which owns brands such as Louis Vuitton, Fendi and Hennesy, has a market value of $419 billion, according to the newspaper.
Novonordisk has great success with its anti-obesity and anti-diabetic agents, the latter under the name Ozempic. The company has previously been found to be larger than Denmark, in the sense that its market value exceeds Denmark’s GDP.
Already in 2008, the company overtook the shipping giant Maersk as the country’s most valued company.