Weight-loss drug maker Novo Nordisk is Europe’s most valuable company at £338 billion
Danish manufacturer of weight-loss drug Wegovy has become Europe’s most valuable company, overtaking LVMH.
Shares in Novo Nordisk, a specialist in diabetes and slimming medicines, have more than tripled in value since the start of 2021 – giving it a market value of more than £338 billion.
Shares rose 0.8 percent yesterday.
This puts the company ahead of the French luxury giant that owns Louis Vuitton, Dior and Moet, and is worth around £328 billion.
Shares of Novo Nordisk have soared due to demand for Wegovy, an injection users take once a week to trick the body into thinking it is full, helping patients lose weight.
Breakthrough: Shares in Novo Nordisk, specialist in diabetes and weight-loss drugs, have more than tripled in value since early 2021
The drug is available on the NHS this week and is also being sold privately for £299 a month – although many suppliers are saying it is ‘out of stock’ due to demand.
Experts have warned that the drug should not be considered a quick fix or replacement for a healthy diet and exercise.
But analysts are already predicting that Wegovy could become one of the best-selling drugs in history.