Novo Nordisk's Market Value Soars to Over $506 Billion, Surpassing LVMH, Making It the Largest Company in Europe
  • 3 months ago
Novo Nordisk, a Danish pharmaceutical company, reported a 31% increase in Danish kroner sales and a 36% increase in sales at constant exchange rates for 2023. Sales totaled 232.3 billion Danish kroner (around $33.7 billion). The strong performance was fueled by Novo Nordisk's diabetes and obesity care division, which soared 154% at constant exchange rates to 41.6 billion kroner ($6 billion.) Demand remains high for Novo Nordisk's weight loss drug Wegovy and diabetes drug Ozempic, which contain the same active ingredient. The company expects 18 to 26% sales growth in 2024, driven by demand for these two drugs.
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