Is Novo Nordisk’s Success Really Trouble for Denmark?
Over the past couple of years, no new pharmaceutical drug—perhaps no product, period—has had such widespread impact as the diabetes medication Ozempic and the weight-loss drug Wegovy, both made by Danish company Novo Nordisk. Most obviously, the drugs have changed the lives of the millions of people who now count on them to help control their appetite. These two products have taken Novo Nordisk from a successful but second-tier drugmaker to the most valuable company in Europe. The drugs are also having ripple effects across the business world. To take one example, snack and soda makers have wondered whether they need to adjust their strategies for a world where people’s cravings for their products have diminished. Some stock analysts have even suggested that the drugs’ popularity might boost airline profits—because their passengers will weigh less in the future. Ozempic and Wegovy have also exerted huge influence in Denmark, giving the GDP of Novo Nordisk’s home country a sizable boost. The billions of dollars in profits that the company is now bringing home—$5.7 billion in the …