(AOF) – Novo Nordisk ends the year as the largest European capitalization. The title of the diabetes treatment specialist jumped almost 50% to 700.50 Norwegian crowns. Novo Nordisk owes its good fortune to its anti-obesity drug Wegovy, which also has the virtue of reducing the risk of heart disease. It is a derivative of the antidiabetic drug, Ozempic, the group’s other star drug. According to JPMorgan, the market for GLP-1 weight loss drugs is expected to be worth more than $44 billion in 2030 compared to $1.5 billion expected this year.
According to the analyst, Novo Nordisk and its American competitor, Eli Lilly, would practically share the market between them, leaving only modest market shares to their competitors. On Wall Street, Eli Lilly stock has jumped nearly 60% this year. The research office does not anticipate a decline in the price of these drugs before 2026 once production capacities are sufficient to meet demand.
In order to meet strong demand, the Danish group has announced significant investments. Regarding France, Novo Nordisk announced at the end of November an investment of 2.1 billion euros starting this year in order to expand its Chartres site focused on serious chronic diseases. The Danish laboratory specifies that its investment will considerably increase the capacity of the site, in particular by adding capacities dedicated to GLP-1 anti-obesity products.
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