Sector News

Could Novo, Lilly become first trillion-dollar healthcare companies?

February 4, 2024
Life sciences

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

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