Danish pharmaceutical company Novo Nordisk briefly displaced Moët Hennessy Louis Vuitton (LVMH) as the company with the largest market capitalization in today’s trade, ending its two-and-a-half-year hegemony the French luxury group, Reuters reported.
LVMH, the world’s No. 1 luxury goods retailer and owned by the richest European and one of the world’s richest men, Bernard Arnault, has been hit by growing concerns about the outlook for China’s economy.
Meanwhile
Novo Nordisk rode the wave thanks to highly effective diabetes and weight loss drugs Ozempic and Vegovi
(Wegovy), which led to a record increase in the company’s revenue and stock.
The diabetes and weight loss pill Ozempik briefly dethroned Europe’s No. 1 richest man
Ozempik is the preferred preparation for weight loss among some representatives of show business in Bulgaria.
Shares in Novo Nordisk have jumped about 17 percent since it announced on Aug. 8 that a major study showed Vegovi has proven benefits for the cardiovascular system, fueling the company’s hopes of breaking out of the image you’re a manufacturer of lifestyle drugs.
As of 11:43 a.m. BST, Novo Nordisk had a market capitalization of $421 billion, including unlisted shares, according to data from Refinitiv and the company’s own securities filings.
French luxury giant LVMH had a market valuation of $420.97 billion at the same time,
after being the company with the highest market capitalization since February 2021, when it displaced consumer goods group Nestlé (Nestle) from the top.
At 1:30 p.m. Bulgarian time, LVEM Ash once again regained the lead with a market capitalization of around $423.9 billion compared to Novo’s around $421.9 billion.
Novo Nordisk’s share price has almost tripled over the past three years, and LVMH, which includes luxury brands Louis Vuitton and Christian Dior, has doubled.
“The convergence of Novo shares with those of LVMH is a reflection of the recent success of the company’s product,
while recent trends in LVMH are of a more uncertain nature. This was stated by Marcel Stötzel, managing the joint portfolio of “Fidelity European Fund” (Fidelity European Fund) and “Fidelity European Trust” (Fidelity European Trust).
The weight loss drug market is expected to reach $100 billion in annual sales within a decade.
They are currently worth about $6 billion, according to Barclays.
Ozempik is prescribed to patients with type 2 diabetes, but also by prescription from an endocrinologist to people in a pre-diabetic state, and also to people with other diseases who need to lose weight. However, in our country there is also a demand that has nothing to do with diabetes. There is even an officially offered therapy in a clinic with Ozempik, which some describe as intended for “rich and fat” clients. It is said, for example, that the chalga diva Galena owes her drastic weight loss precisely to this preparation, but also because of its frequent use recently, she regularly cancels her appearances at the clubs.
Experts warn that when the drug is not used as intended, it carries risks – especially for those people who just want to lose a little weight. Andres Acosta of a clinic in Minnesota says the drug has not been tested for this: “At the end of the day, we don’t know what these drugs do to your body if you don’t have the disease,” he says.
According to Acosta, the most common side effects are nausea and vomiting, constipation, diarrhea and, rarely, pancreatitis. The US Food and Drug Administration states that Ozempic also increases the risk of thyroid cancer. Doctors warn that if used by non-diabetics, Ozempik injections can have fatal health consequences.
2023-09-01 15:01:46
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