Novo Nordisk A/S has become the second European company with a market value of 500 billion dollars, Bloomberg reported today. The first is the French fashion concern Moët Hennessy Louis Vuitton (LVMH).
According to the company, the economic results confirmed the trend of interest in appetite suppressants, and it was the prospect of an increase in operating profit this year that sent the shares up. The company’s biggest blockbuster is medicine Ozempic. Despite this success and the fact that Novo’s stock has risen this year, some analysts are skeptical about the company’s future. A slight decline in shares is expected in the next 12 months.
Novo Nordisk is a Danish multinational pharmaceutical company focusing on medicines and devices for diabetes care. It is the largest pharmaceutical company in Denmark with a market capitalization higher than the GDP of the Danish economy. Its managing director is Lars Fruergaard Jørgensen, who was named Person of the Year by the Financial Times magazine.
LVMH Moët Hennessy Louis Vuitton is a French multinational conglomerate that specializes in luxury goods. It was created in 1987 by the merger of the Louis Vuitton fashion house and the Moët Hennessy company. In April 2023, it was the first in Europe to exceed the value of 500 billion dollars. It has 60 subsidiaries, such as Tiffany & Co, Christian Dior, Fendi and others. LVMH owns several luxury brands, including fashion, wines and spirits, perfumes and cosmetics, watches and jewelry, and more.