Focused from the very beginning
In 2023, Novo Nordisk celebrated its 100-year anniversary. From the very beginning in 1923, the then-called Nordisk Insulinlaboratorium focused on the treatment of diabetes and the production of insulin. In late 2023, Novo Nordisk was ranked third among the top global pharma and biotech companies based on market capitalization. It is also the world’s largest company for diabetes treatments. Around three quarter of its around 34-billion-dollar global sales are generated through the company’s diabetes care business. Important competitors in this market are big names like Eli Lilly, GlaxoSmithKline, Boehringer Ingelheim, and Sanofi. Novo Nordisk’s top diabetes drug is Ozempic, a GLP-1 receptor agonist which increases insulin secretion. Ozempic generated more than 14 billion U.S. dollars of revenue in 2023.Is semaglutide the new superstar?
Ozempic was one major driver for Novo Nordisk’s growth during 2023. But even stronger growth was caused by weight loss drug Wegovy, catapulting Novo Nordisk into the global spotlight. Both Wegovy and Ozempic have the same active ingredient, semaglutide - only the dosage is different. Within the years 2022-2023, Wegovy's quarterly sales increased eightfold. Since overweight and obesity are huge issues in developed countries, causing many health risks, the drug is considered to have immense potential. There are, however, already concerns that it could lead people to immediately turn to such drugs instead of changing their lifestyle permanently.
