Ozempic Maker Novo Nordisk Surpasses $500 Billion Market Cap
The Ozempic revolution has propelled the stock-market value of Danish drugmaker Novo Nordisk above $500 billion for the first time.
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Novo Nordisk stock has risen 65% in the past 12 months, fueled by sales of Ozempic and its market capitalization is over $513 billion, according to @bloomberg#ozempic #weightloss #pharma pic.twitter.com/dpMJWcKkQv
— The_Journalbiz (@the_journalbiz) February 1, 2024
Bloomberg chart
After reporting higher 2023 revenue and profits Wednesday, fueled by sales of Ozempic and weight-loss drug Wegovy, the company’s American depositary receipts rose 5% to $114.74.
The stock has risen 65% in the past 12 months, and its market capitalization is about $513 billion, higher than retailer Walmart and oil giant Exxon Mobil, according to Bloomberg
Novo Nordisk has become the most valuable company in Europe, and at times its market cap has eclipsed Denmark’s gross domestic product. This means the company’s performance has had outsized influence on Denmark’s economy, interest rates, and currency, while supporting a surge in charitable giving by the nonprofit foundation that controls the company.
