The hype surrounding the Wegovy weight loss injection has caused Novo Nordisk shares to soar. Most recently, the Danish pharmaceutical company even replaced a French company as the most valuable company on the continent.
The weight loss syringe Wegovy from the Danish pharmaceutical company Novo Nordisk is very popular. Most recently, this helped the manufacturer temporarily to become the most valuable company in Europe: Novo Nordisk briefly overtook the luxury goods giant LVMH with its company valuation.
The market capitalization of the drugmaker rose to $421 billion on Friday – slightly more than the Parisian luxury group, whose market capitalization was $420.97 billion at the same time. A little later, however, LVMH again overtook Novo Nordisk.
Novo Nordisk stock has tripled in price since 2020. In August alone, the paper rose nearly 20 percent after a study showed clear benefits of its obesity drug in cardiovascular disease.
Novo Nordisk is now launching its weight loss drug Wegovy on the British market – it was previously available in the USA, Denmark, Norway and, since the end of July, in Germany. The monthly outlay for private patients in the UK is estimated at around £199-299.
What else you should know about Novo Nordisk
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Source: Stern
