Novo Nordisk’s market cap is bigger than Denmark’s entire economy
Something is shapely in the state of Denmark.
Thanks to the success of its diabetes and obesity drugs Ozempic and Wegovy, drugmaker Novo Nordisk is now Europe’s most valuable company. It’s especially having outsized effects on its home country of Denmark, where its market cap of over $570 billion trumps the country’s GDP.
“Without Novo’s contribution, the Danish economy would have stagnated,” Bloomberg reports.
Novo Nordisk therefore is having broad effects on myriad aspects of life in Denmark, from educational priorities to immigration policy to job availability to mortgage rates. As goes Novo Nordisk, so goes the nation. That means if the drugmaker’s finances go south, so will Denmark’s.
“Without Novo’s contribution, the Danish economy would have stagnated,” Bloomberg reports.
Novo Nordisk therefore is having broad effects on myriad aspects of life in Denmark, from educational priorities to immigration policy to job availability to mortgage rates. As goes Novo Nordisk, so goes the nation. That means if the drugmaker’s finances go south, so will Denmark’s.
