Fueled by the massive uptake of its GLP-1 agonists Ozempic and Wegovy in the last few years, Novo overtook luxury retailer LVMH as the most valuable company in Europe in September — a position maintained with a market cap of more than $500 billion, which is greater than the GDP of Novo’s home country, Denmark.
Novo’s growth has been so impactful in Denmark that last August, the country’s government lifted its economic growth forecast from 0.6% to 1.2%.
And some Wall Street analysts now predict that GLP-1s will become the best-selling class of drugs in history.
Eli Lilly, whose rival GLP-1 Zepbound hit the scene in December, is on its own upswing. With a market cap at about $612 billion, Lilly is already the most valuable pharma company in the world and is expected to rake in Zepbound sales of $2.2 billion this year alone. READ MORE
by Meagan Parrish
Source: pharmavoice.com
CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform. The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions.
DSM-Firmenich has announced the sale of its MEG-3 fish oil business to KD Pharma Group, a contract development and manufacturing organisation that is active in pharmaceutical and nutritional lipids. As part of the transaction, DSM-Firmenich will obtain a minority stake of 29% in KD Pharma’s parent company O³ Holding GmbH.
Veranova, a development and manufacturing of specialist and complex APIs for the pharmaceutica l and biotech sectors, recently announced the appointment of Cécile Maupas as Senior Vice President, Chief Commercial Officer. Cécile will join the executive team and assume responsibility for business development, marketing, project management, commercial operations, and product management.
