Novo Nordisk owns the Ozempic and Wegovy brands and became one of the world's most valuable pharmaceutical companies by market capitalization.
The Danish company traces its history to insulin research in the early twentieth century. Novo Nordisk was formed in 1989 through the merger of two Danish firms, Novo Industri and Nordisk Gentofte, both of which had developed diabetes treatments.
Ozempic is a brand name for semaglutide used to treat type 2 diabetes. Wegovy contains the same active ingredient at a different approved dosage for chronic weight management. Their popularity greatly increased public attention to Novo Nordisk and helped drive investor interest.
A common mix-up is treating Ozempic and Wegovy as separate companies; they are products of Novo Nordisk. Eli Lilly is another major diabetes and obesity-drug maker, but its related brands include Mounjaro and Zepbound rather than Ozempic and Wegovy.