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How Novo Nordisk became Europe's most valuable company

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The company behind the most popular weight loss drugs this year has been catapulted to the most valuable company in Europe, toppling luxury brand parent company LVMH.

Novo's stock continued to climb after the holiday weekend, reaching a new market cap of $429 billion Tuesday, as LVMH's stock declined. The company's rise also makes Novo more valuable than the GDP of its home country, Denmark .

The injectables are part of a growing market for GLP-1s, drugs that mimic a hormone in the body to slow digestion, which have been around for some time. But stronger weight loss results compared to previous drugs in the category catapulted Ozempic and Wegovy into the mainstream.of some doses — a problem that Novo Nordisk is actively trying to solve with its contract manufacturers. But even so, the drugmaker has said it is unlikely to meet the skyrocketing demand in the near future.

 

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Business is booming for the maker of weight-loss drugs Wegovy and Ozempic — so much so that it is threatening luxury giant LVMH's crown as Europe's most valuable firmNovo Nordisk's at-home injections are in high demand, but some insurers say they won't cover the high prices.
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