Jump to content

User:Koktej qesharak/Influence of Novo Nordisk on Danish economy

From Wikipedia, the free encyclopedia
< User:Koktej qesharak

This is an old revision of this page, as edited by Koktej qesharak (talk | contribs) at 14:59, 19 March 2024 (→‎Investment in R&D). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Novo Nordisk, a global healthcare company headquartered in Denmark, has played an important role in  Denmark economy.[1][2] In 2023 it became Europe’s most valuable listed company, worth about $403 billion.[3][3][4] In August 2023 Novo Nordisk’s market value has exceeded the size of the Danish economy.  It is the biggest contributor to Danish corporation tax.[3][5]

Background

Novo Nordisk, a Danish pharmaceutical company, known for weight-loss drugs Ozempic and Wegovy, as well as half the world’s insulin.[3][6][7][1][8] Its sales grew by more than a third in 2023, net profit rose by 51%, to $12.1bn.[3] The company influences health budgets, tax rates and the cost of mortgages.[3] The company primarily focused on diabetes treatment. It experienced growth with the introduction of it’s drugs for weight loss, particularly in the United States. The U.S. Food and Drug Administration approved Ozempic as a diabetes medication in 2017, followed by the approval of Wegovy in 2021.[6] Novo Nordisk’s profit grew 45 percent to 39 billion Danish kroner in 2023, driven by demand for the drugs.[6] The company’s share price has nearly tripled since Wegovy was launched in June 2021.[4][9]

Employment

Novo Nordisk is one of Denmark's largest employers, with almost 3% of the total Danish workforce depending on Novo Nordisk.[3]

Investment in R&D

The Novo Nordisk's foundation invests into grants for health and life sciences, mostly within Denmark. The company invests resources in research and development activities, collaborating with academic institutions and research organizations in Denmark and around the world. This investment drives scientific advancement and stimulates economic growth through partnerships and knowledge exchange.[3]

Economy

About 30% of Novo Nordisk's investors are Danish, 28% of shares (and 70% of the voting rights) belong to the Novo Nordisk Foundation. The foundation invests into grants for health and life sciences, mostly within Denmark.[3] It is the most widely held stock in Denmark.[4] Novo Nordisk is the biggest contributor to Danish corporation tax.[3]

References  

  1. ^ a b Cowen, Tyler (March 5, 2024). "Ozempic Is Transforming the Health of Denmark's Economy". Bloomberg. Retrieved 2024-03-19.
  2. ^ Cooban, Anna (2023-08-21). "How soaring demand for Ozempic and Wegovy is altering Denmark's economy | CNN Business". CNN. Retrieved 2024-03-19.
  3. ^ a b c d e f g h i j "The town that Ozempic and Wegovy built". The Economist. ISSN 0013-0613. Retrieved 2024-03-19.
  4. ^ a b c Fick, Maggie (October 6, 2023). "Novo Nordisk's Wegovy bonanza looms large in Denmark". Reuters. Retrieved 2024-03-19.
  5. ^ Wienberg, Christian (August 9, 2023). "Novo's Value Surpasses Denmark GDP After Obesity Drug Boost". Bloomberg. Retrieved 2024-03-19.
  6. ^ a b c Nelson, Eshe (August 28, 2023). "How Ozempic and Weight Loss Drugs Are Reshaping Denmark's Economy". New York Times. Retrieved 2024-03-19.
  7. ^ Surowiecki, James (2023-10-16). "Something Is Golden in the State of Denmark". The Atlantic. Retrieved 2024-03-19.
  8. ^ Cooban, Anna (2023-08-21). "How soaring demand for Ozempic and Wegovy is altering Denmark's economy | CNN Business". CNN. Retrieved 2024-03-19.
  9. ^ Abadi, Cameron; Tooze, Adam (2024-03-28). "How Weight-Loss Drugs Are Distorting the Danish Economy". Foreign Policy. Retrieved 2024-03-19.
Retrieved from "https://en.wikipedia.org/w/index.php?title=User:Koktej_qesharak/Influence_of_Novo_Nordisk_on_Danish_economy&oldid=1214533328"