Novo Nordisk, the Danish pharmaceutical giant behind the weight-loss medication Wegovy (active ingredient - semaglutide), has become Europe's most valuable company, dethroning the French luxury conglomerate LVMH.
Following the successful launch of Wegovy in the U.K., the company's shares saw a significant uptick in value. As trading closed on Monday, Novo Nordisk boasted a stock market valuation of $428 billion (£339 billion).
Wegovy is an obesity treatment taken once a week. The drug makes people feel full, leading to reduced food consumption and weight loss.
Celebrities like Elon Musk have reportedly joined the ranks of Wegovy users, contributing to its popularity in Hollywood and the broader public sphere since it was approved in the U.S. in 2021.
Wegovy and Ozempic—a diabetes drug with similar effects and the same active ingredient —are being hailed as "miracle" drugs for obesity. However, these injections should not be considered a quick-fix solution or a substitute for a balanced diet and regular exercise. Clinical trials have shown that users may experience weight regain after discontinuing treatment, thus highlighting the importance of holistic approaches to weight management.
A global shortage of these injections has resulted in only a limited supply reaching the NHS in the U.K. Novo Nordisk has indicated its intent to maintain restrictions on global supplies while striving to boost manufacturing capacity.
The performance of Wegovy (and Ozempic) is unique because it has rapidly become a part of popular culture. However, this drug addresses obesity, an issue that has never been considered a "disease" before. Obesity is a rapidly increasing problem among the general population, and a drug that could help address it could go a long way in preventing healthcare complications that can arise from obesity. However, despite all the attention, the drug should still be used responsibly and appropriately.
In the U.K., NHS guidelines clearly state that Wegovy should only be prescribed to people who are significantly overweight and experiencing weight-related health issues.
According to data from the OECD, the U.K. currently has the highest obesity rate in Europe, with nearly one in three adults classified as obese.
Recent findings show that Wegovy can reduce the risk of stroke or heart attack, but further review of these results is still necessary. Nevertheless, experts agree that these results hold significant potential.
Source: BBC
Image Credit: iStock
