Lost your password?
Don't have an account? Sign Up

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.

Tweet on Ozempic

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.



Image: Novo Nordisk