NVO - Ozempic Maker Beats Bernard Arnault's LVMH As Europe's Most Valuable Firm With Stunning $423B Market Cap | Benzinga
Danish biopharma Novo Nordisk A/S (NYSE:NVO) is reaping windfalls from its weight-loss drugs Ozempic and Wegovy, which continue to fly off the shelves.
What Happened: In a significant move, Novo Nordisk’s shares on the Copenhagen stock exchange closed Friday’s session at 1,301.20 Danish Krone, marking a 2.14% gain for the session.
This achievement propelled the company to a market capitalization of 2.912 trillion Danish Krone ($423.64 billion), making it the most valuable European company.
Novo Nordisk has now surpassed luxury products company LVMH Moet Hennessy Louis Vuitton SA (OTC:LVMUY) (OTC:LVMHF), led by Bernard Arnault — the world’s second-richest person after Tesla’s Elon Musk — with a net worth of approximately $183 billion, according to Bloomberg’s ...