The weight loss drug market is projected to reach $100 billion by 2030, according to Goldman Sachs. This growth is largely due to the popularity of drugs like Ozempic and Wegovy, which have transformed the global market for weight loss treatments. These drugs, which are used to treat diabetes and obesity, have generated billions in sales and created a new market for weight loss medications.
The success of these medications has had a profound impact on their creators, Novo Nordisk. The company’s income tax contribution of $2.3 billion last year fueled economic growth in Denmark, leading to a nearly 2% expansion of the domestic economy – more than four times the EU average. This growth allowed for record government spending on defense, the green transition, and support for Ukraine.
Novo Nordisk’s success has also had far-reaching implications for its home country. The company’s philanthropic foundation is now the largest in the world, with assets double that of the Gates Foundation. Additionally, Novo Nordisk has become Europe’s most valuable company with a market capitalization of over $570 billion, surpassing the entire Danish economy.
