Novo Nordisk, the Danish pharmaceutical giant, has overtaken the French luxury conglomerate LVMH to become Europe’s most valuable firm thanks to the success of its weight-loss drug, Wegovy. The popular drug, which tricks people into feeling full and therefore consuming less food, was recently launched in the UK, leading to a surge in Novo Nordisk’s shares. At the end of Monday’s trading, the company’s stock market valuation reached an impressive $428 billion (£339 billion).
Wegovy, along with another Novo Nordisk drug called Ozempic, which is used to treat diabetes but has similar weight-loss effects, has been hailed as a “miracle” treatment for obesity. However, experts caution that these drugs are not a quick fix or a substitute for a healthy diet and exercise. Users often regain weight after stopping the treatment, as highlighted by trials.
Despite the drugs’ effectiveness, there has been a global shortage, with limited supplies making their way to the UK’s National Health System (NHS). Novo Nordisk revealed that it would continue to restrict global supplies as it works on increasing manufacturing capabilities.
In the UK, only patients who are significantly overweight and have weight-related health problems can access Wegovy, which contains the drug semaglutide, according to NHS guidelines. This is a response to the high obesity rates in the country, with nearly one in three adults classified as obese, according to the Organisation for Economic Co-operation and Development (OECD), making the UK’s obesity levels the highest in Europe.
While the full significance of the drug’s success is yet to be determined, experts agree that the results could have far-reaching implications in the battle against obesity. However, it is important to remember that a comprehensive approach to weight management, including healthy lifestyle choices, remains the most effective long-term solution.