(CercleFinance.com) – The Danish pharmaceutical group Novo Nordisk became the largest European capitalization this year, stealing its crown from the luxury giant, the French LVMH.
The laboratory now has a market valuation of $461 billion, compared to $411 billion for LVMH, which suffered this year from slowing demand from Chinese consumers.
Novo shares have climbed more than 50% on the Copenhagen Stock Exchange this year, driven by the remarkable success of its diabetes drugs.
Its stock price has more than tripled over the last three years.
The stock market boom of this flagship of the Danish economy is such that the group had to carry out a nominal reduction last September, in order to ensure that its shares remain affordable for investors.
From an operational point of view, the year was marked by the promising results of the ‘Select’ study, published at the end of August, which allowed it to rise to the top of Europe stock market.
The trial demonstrated that its Wegovy treatment, whose primary function is to help people with obesity lose weight, had other virtues, including a 20% reduction in the risk of cardiovascular accidents in people. Overweight.
“This is a major step forward, not only in the life of the company but also for the entire health ecosystem,” believe the Trecento Santé teams.
According to details from JPMorgan, the market for the fight against obesity could reach 72 billion dollars by 2032, more than twice as much as its previous estimate of 34 billion.
According to the American investment bank, Novo Nordisk and the American Eli Lilly should take the lion’s share, or 90% of the market, thanks to their existing treatments.
For JPMorgan, Novo could thus control 45% of the market in the long term, with sales likely to reach $33 billion in 2030.
For comparison, the company’s turnover stood at almost 177 billion crowns, or $26.3 billion, in 2022.
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