Danish economy gets boost from weight-loss drug maker
AFP - [email protected]
Published: 27 Mar, 2024 CET.
Updated: Wed 27 Mar 2024 11:01 CET
The Danish economy grew 1.9 percent last
year but would have flatlined without its pharmaceutical industry and the huge
success of weight-loss drug maker Novo Nordisk, official data showed on Wednesday.
National data agency Statistics Denmark said the sector's contribution to growth amounted to 1.9 percent.
"If it is deducted from GDP growth, you get a big zero," the agency's chief accounting consultant, Jonas Dan Petersen, said on X (formerly Twitter).
Novo Nordisk's net profit soared by 51 percent in 2023 to 83.7 billion kroner ($12.1 billion) as sales of diabetes medication Ozempic and obesity drug Wegovy have boomed.
READ ALSO: Danish weight-loss drug maker Novo Nordisk announces blockbuster profits
The drug maker's shares also surged last year, turning Novo Nordisk into Europe's largest company by market capitalisation.
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National data agency Statistics Denmark said the sector's contribution to growth amounted to 1.9 percent.
"If it is deducted from GDP growth, you get a big zero," the agency's chief accounting consultant, Jonas Dan Petersen, said on X (formerly Twitter).
Novo Nordisk's net profit soared by 51 percent in 2023 to 83.7 billion kroner ($12.1 billion) as sales of diabetes medication Ozempic and obesity drug Wegovy have boomed.
READ ALSO: Danish weight-loss drug maker Novo Nordisk announces blockbuster profits
The drug maker's shares also surged last year, turning Novo Nordisk into Europe's largest company by market capitalisation.
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