Denmark’s GDP Gets A Big Boost From Ozempic

National statistics data show that Denmark’s GDP experienced a surge of 1.7% year-on-year during the first half of this year. However, a closer look reveals a crucial contributor to this growth – the pharmaceutical industry, without which the nation’s economy would have contracted by 0.3%.

Novo Nordisk, Denmark’s pharmaceutical powerhouse and — as of September — Europe’s largest entity by market capitalization, has played a pivotal role in this economic transformation. The company’s success can be attributed to the skyrocketing demand for anti-obesity drugs, driven by two flagship products: the widely popular anti-diabetic medication Ozempic, and the anti-obesity drug Wegovy.

Jonas Petersen, an analyst at Statistics Denmark, expressed his astonishment, stating, “We’ve never seen anything like it; it changes the appearance of the economy.” Novo Nordisk’s performance has not only bolstered government revenues but has also had a positive impact on employment rates and shareholder profits.

It changed the appearance of the economy so much that the country had to publish GDP data that did not include Novo Nordisk.

An X user points out that a similar phenomenon occurred in Ireland in 1998 when the sales of the impotence drug Viagra boosted the country’s GDP to “unbelievable” levels.

Novo Nordisk saw a 157% increase in sales of anti-obesity treatments during the first half of this year. These results have prompted Novo Nordisk to revise its forecasts, with sales expected to surge by 30% in 2023, following its 2022 sales of 176.95 billion kroner (US$16.51 billion).

RELATED: Not Just Inflation: People Are Buying Less Food, Joe Weisenthal Suggests Ozempic May Be to Blame

The company’s market capitalization has now surpassed 2,984 billion kroner (over US$421 billion), exceeding Denmark’s GDP, which stood at 2,832 billion kroner (US$398.3 billion) last year. 

As mentioned earlier, on September 1st, the company surpassed the market capitalization of LVMH, a global luxury goods giant, making it the largest listed company in Europe, a position held by the French conglomerate for over two and a half years.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Is Ozempic the New Wonder Drug?

Ozempic has been all the rage lately. It’s become synonymous with weight loss, and lately,...

Monday, May 22, 2023, 03:27:00 PM

Study Examines Vision Loss Reports in Patients Taking GLP-1 Drugs

A new JAMA study is investigating ophthalmic complications in patients using semaglutide and tirzepatide, the...

Wednesday, February 12, 2025, 02:14:00 PM

Can Ozempic Topple Fast Food Demand?

GLP-1 medications like Ozempic and Wegovy could mean serious trouble for the quick-service restaurant (QSR)...

Friday, November 3, 2023, 03:59:00 PM

People Are Overdosing On Ozempic and Its Off-Brand Versions

Ozempic for diabetes and Wegovy for weight loss have been so wildly in demand that...

Thursday, December 14, 2023, 12:31:00 PM

$450 Error Nukes Novo Nordisk’s Ozempic Patent, Opening Canada To Generics

Novo Nordisk (NYSE: NVO) has permanently forfeited Canadian patent protection for semaglutide—the blockbuster active ingredient...

Monday, June 16, 2025, 11:38:00 AM