Source: financial Union
With the popularity of "divine slimming medicine" all over the worldFreebingogamesnodepositDanish pharmaceutical giant Novo Nord not only became the most valuable listed company in Europe, but also became the latest case of scientific and technological innovation to boost the country's economic growth.
In the latest economic review report, the Danish Ministry of Economic Affairs said that with Novo Nord's rapid expansion of the pharmaceutical and raw materials supply chain, Denmark's economic growth rate is expected to reach 2% in 2024.Freebingogamesnodeposit.7%. By contrast, the Danish Ministry of Economic Affairs forecast 1.4% in December. For the same reason, the latest official GDP growth forecast for 2025 is 1.8 per cent, up from the previous 1 per cent.
Although the Danish government has also mentioned the role of the North Sea gas field on the economy, Novo Nord is undoubtedly the biggest contributor. The Danish Bureau of Statistics has said that the country's economy will grow by 1.8% in 2023 (4.5 times that of the European Union! But without Novo Nord's contribution to the pharmaceutical industry, last year's GDP growth would have been-0.1%.
The Danish Ministry of Economic Affairs also said that based on Novo Nord's growth, the forecast for Danish export growth this year increased from 4.2% to 7%.
Novo Nord dependence syndrome
On the latest move of the government, Tore Stramer, chief economist of the Danish Chamber of Commerce, commented: "it is absolutely rare for the government to make such a significant increase." This move shows that Novo Nord ushered in 'unexpectedly strong production growth' from late 2023 to early 2024. "
In the first three months of this year alone, two of Novo's drugs, Ozempic and Wegovy (the active ingredient is Smegler peptides), achieved sales of $5.4 billion. Like Nvidia's graphics cards, Novo Nord is in a global shortage. What's more, weight-loss drugs have to be used continuously.
Under the popularity of the capital markets, Novo Nord's market capitalization has reached 590 billion US dollars. By horizontal comparison, the GDP of Denmark as a whole is just over $400 billion. In a country with a population of more than 6 million, Novo Nord alone contributed 1/5 of the new jobs created last year.
At a time when the economic slump is spreading across Europe, Danes are lucky not only to have inherited oil and gas wealth, but also to take advantage of the biomedicine of the 21st century, at least for now. Thanks to Novo Nord's rapid growth, Danish government spending also hit a new high in 2023.
Of course, the outlook for business is unpredictable, just as drugs are protected by patents. There is also an economic term "Nokia risk" for a country that is too dependent on a single giant. The gradual decline of Finnish telecom giants since the subprime crisis has dragged down the country's economy-thousands of jobs have been lost and universities, businesses and the public sector have been affected by a chain reaction.
The foundation behind Nord Nord supports 27% of scientific research across Denmark and sponsors the work and salaries of 9500 scientists, almost as many as those who work directly for the company.
For now, at least, the Danish government still believes that Nokia is not comparable to Nokia and Nord. Danish economy Minister Stephanie Lose explained that because many of Novo Nord's production activities took place abroad, the company did not "penetrate deeply into the Danish economy. So there is no need to worry about the domestic economy, employment and GDP growth.
The Prime Minister of Denmark strongly supports: I am a "big fan".
During the parliamentary debate on Tuesday, Danish Prime Minister Mette Frederiksen also made no secret of his love for diet drug makers.
"I am a big fan of them and as prime minister, I may not be allowed to say that," Mette said. But I can see how much it has changed in many people's lives. "
Love to love, Novo Nord is also facing pricing pressure in his own stronghold. The Danish Drug Administration announced this month that it would reimburse Novotel only to patients who cannot use cheaper drugs to treat type 2 diabetes. The agency expects half of all patients to switch to cheaper drugs.
It is reported that the Danish Drug Administration spent 200 million US dollars last year on subsidies for Nuohotai alone, accounting for 8% of all drug expenditure. The decision to cut some of the subsidies came after the company slashed local prices ($188 →). The Danish government says this price adjustment alone will save the government more than $70 million a year.
