Mask helped him lose weight.. An American pharmaceutical company whose market value exceeds Denmark’s economy
The American “Fortune” economic website revealed that an American pharmaceutical company that helped Elon Musk lose weight now has a market value that exceeds the economy of Denmark.
The report said the global rise in demand for weight-loss therapies has boosted the fortunes of Novo Nordisk, a pharmaceutical company that is now more valuable than Denmark’s home economy.
The company effectively captured the U.S. market thanks to being the only FDA-approved manufacturer of a blockbuster drug called semaglutide — the active chemical behind Ozempec, a type 2 diabetes drug, and Wegovi, an obesity treatment — that helps Elon Musk is also losing weight.
The report indicated that since 2020, the stock has tripled, as the value of the company listed in the United States is now more than $ 400 billion, which puts it within reach of dethroning French billionaire Bernard Arnault, the luxury brand group, as the largest company in Europe in terms of volume. Market value.
“We are serving more patients than ever before,” CEO Lars said in a statement yesterday, after increasing its sales and profit for the full year on the back of ever-increasing demand for weight-loss treatments.
He added that this treatment works by prompting the body to produce more insulin, which helps diabetics reduce the amount of sugar in their blood, but in higher doses it also interacts with parts of the brain that regulate appetite by creating a feeling of fullness.
Lars said his company helped 39 million people worldwide manage diabetes and lose weight in the first half of 2023, up 4 million from the same period a year earlier.
As a result, sales rose by nearly a third, with demand for obesity care treatments alone rising by a staggering 157%, due in large part to Elon Musk’s widespread popularity in the US.