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Queuing for a stylish Louis Vuitton bag is a familiar experience. Looking for an appetite suppressant to help you lose weight is a relatively new phenomenon. As the weight fell, the explosion catapulted Novo Nordisk shares to new highs. The Danish pharmaceutical company is the manufacturer of blockbuster drugs such as Wegovy and Ozempic.
There is an extremely booming business in drugs that help diabetes and obesity. It’s so lucrative that Novo Nordisk’s profits exploded in the third quarter. As a result, the surplus rose 56 percent year-on-year to 22.5 billion Danish kroner (about 2.9 billion francs), the company announced on Thursday.
Sales increased especially in the USA. The group is benefiting from strong demand for appetite suppressant Wegovy and diabetes drug Ozempic. The latter is also said to help you lose weight. The downside of the lifestyle boom: Supplies are becoming scarce for diabetics who depend on medication for health reasons. Celebrities like Robbie Williams (49) also want to get a good figure thanks to Ozempic.
More valuable than Louis Vuitton
This is what Novo Nordisk, which revised its forecasts upwards for this year, wants. The company’s shares have been on the rise for a while due to the Wegovy advertisement. After the forecast was raised in mid-October, the price reached the previous record of 742 crowns (about 95 francs). Although there is also a small yo-yo effect on the stock market, the share price has increased by 50 percent since the end of 2022.
In the last five years, the company’s market value has increased fivefold to over three trillion kroner, or approximately 385 billion francs. The Danish company has replaced luxury goods maker LVMH, which includes the Louis Vuitton brand, as Europe’s most valuable group.
Another downside of the boom: As pharmaceutical authority Swissmedic warned a few weeks ago, fakes of Ozempic are now circulating on the Internet. A woman in Austria had to be hospitalized after using a fake Ozempic syringe. (SDA/koh)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
