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Topics: Pharmaceutical Industry, International Business.

America's Obsession with Weight-Loss Drugs Is Affecting the Economy of Denmark

By Joseph Walker Dominic Chopping Sune Engel Rasmussen | August 17, 2023 Said :

Ozempic and Wegovy are tilting the scales of Denmark's economy.

Their Danish manufacturer,

Novo Nordisk

, hasgenerated billions of dollarsof revenue and supercharged the company's market capitalization. That has led to lower interest rates in the country, according to a bank report and economists.

The market value of Denmark's biggest company has risen by more than a third so far this year to about $419 billion, bigger than the country's gross domestic product of about $406 billion. The measures aren't synonymous: market capitalization is the value of all Novo Nordisk shares, while GDP measures goods and services produced in a year. But the comparison demonstrates how Novo Nordisk has surged past companies such as Lego andCarlsberg to sway the economy of its Nordic homeland.

Take foreign-exchange management for one example.

Denmark's currency, the krone, is pegged to the euro. Central bankers in Copenhagen adjust interest rates and make other interventions to keep its value steady with that of the continent's common currency.

Summary: Finally, the new weight-loss drugs have an international component. It turns out that Ozempic and Wegovy are tilting the scales of Denmark's economy, as their Danish manufacturer Novo Nordisk is now the second-most valuable public company in Europe after luxury brand LVMH. The stock market value of Novo Nordisk has risen to $419 billion, bigger than the country's GDP of $406 billion.

Answering these Questions:

1. Why is Denmark a big winner for now of the booming demand for the new weight-loss drugs?

2. Who produces them in Denmark? How valuable is this company on the stock market?

3. What are some of the risks of such a windfall?

4. What do we learn from the episode of Nokia in Finland?

5. Why did Nokia boom and then suddenly falter?

6. How did this affect the Finnish economy?

7. What are some of the advantages that the Danish economy reaps from this windfall?

8. What are the effects likely to be on the economic policies of the country?

9. If you were the economics minister, how would you act to take advantage of the boom for Danish pharmaceuticals?

10. In fact, how does Novo Nordisk itself need to manage the opportunities and risks of this demand boom?

11. What does Novo Nordisk need to do now to safeguard the company's prosperity in case demand for its hit products were to falter?

12. For example, what does Novo Nordisk need to learn from Nokia?