Novo Nordisk developed Ozempic and Wegovy and became one of Europe's most valuable companies by market capitalization.
Novo Nordisk is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. It was formed in 1989 through the merger of two Danish insulin producers, Novo Industri and Nordisk Gentofte. The company has focused heavily on diabetes and obesity treatments.
Ozempic is a semaglutide injection approved for adults with type 2 diabetes, while Wegovy is a higher-dose semaglutide product approved for chronic weight management in eligible patients. Both medicines belong to the GLP-1 drug class, which imitates a hormone involved in blood-sugar regulation and appetite.
Eli Lilly is a frequent mix-up because it makes Mounjaro and Zepbound, different medicines in the same broad treatment area. Novo Nordisk's market capitalization rose sharply as demand for its diabetes and obesity portfolio increased, although market rankings can change with share prices.