Ozempic: How the weight loss drug affects Denmark's economy

The success of Novo Nordisk, the manufacturer of Ozempic and Wegovy, has a significant impact on Denmark's economy. In 2023, the company contributed 3.5% to the country's GDP, leading to higher growth rates compared to neighboring countries.

However, dependence on a single company poses risks. A recent revision of Novo Nordisk's profit forecasts, due to increasing competition and generics in the US, led to a decrease in its market value by $100 billion in one week. The company's stock recorded a 23% drop, the largest in its history.

The impact on Danish households was immediate, with losses from equity portfolios exceeding $5.8 billion in one day. Mikael Bak of the Shareholders' Association estimates that many Danes may postpone purchases or vacations.