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Wednesday, January 31, 2024

Novo Nordisk Smashes Past $500 Billion Value on Wegovy Frenzy

  • Drugmaker becomes second-ever European stock to hit milestone
  • Red-hot demand for obesity drugs prompts rosy 2024 outlook

Novo Nordisk A/S is scaling new heights, with the obesity drug maker becoming only the second-ever European company to reach a market value of $500 billion.

The Danish company, which makes the Ozempic and Wegovy injectables, has extended its rally into the New Year as investors continue to bet on high demand for the appetite-suppressants, known as GLP-1s.

https://www.bloomberg.com/news/articles/2024-01-31/novo-nordisk-smashes-past-500-billion-value-on-wegovy-fervor

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