Danish pharmaceutical company Novo Nordisk became Europe’s most valuable company this week as investors lusted over earnings from popular weight-loss drugs.
The manufacturer of Ozempic and Wegovy has seen its share price rise 67 per cent in the past 12 months to DKK$1310.80 (NZ$320.76).
Its total market value reached US$424.7 billion last week, bumping luxury fashion group LVMH from the top valuation spot, according to Reuters and Refinitiv data.
Eli Lily, a United States company that makes the so-called obesity injection Mounjaro, has witnessed a share price rise of 81 per cent in the past year.