Published on 28 May 2024 on Benzinga
Ozempic Maker Novo Nordisk's Increasing Influence On Denmark's Employment Raises Economic Concerns -...
Pharmaceutical titan, Novo Nordisk A/S NVO, has had a significant impact on Denmark’s employment landscape, surpassing initial projections, as revealed by a report from the Economic Councils, Denmark’s fiscal watchdog.
What Happened: The Economic Councils’ report, released on Tuesday, suggests that Novo Nordisk is responsible for half of Denmark’s private-sector job growth outside the agricultural sector since 2023, either directly or indirectly, Bloomberg reported. The success of the diabetes drug Ozempic and obesity medication Wegovy has propelled Novo to become Europe’s most valuable company. This has led to macroeconomic shifts in Denmark, affecting interest rates and the currency.