- By Mariko Oi
- Business reporter
1 hour ago
The maker of the weight-loss drug, Wegovy, has become Europe’s most valuable company, dethroning French luxury group LVMH.
Shares rose after Danish pharmaceutical giant Novo Nordisk launched the popular drug in the UK.
At Monday’s close, the company had a market valuation of $428 billion (£339 billion).
Wegovy is an obesity treatment that is taken once a week and tricks people into thinking they are already full, so they end up eating less and losing weight.
Wegovy and Ozempic – a diabetes drug with similar effects – have been described as “miracle cures”.
But experts warn that the vaccinations are neither a quick fix nor a replacement for a healthy diet and exercise.
In studies, users often regained weight after stopping treatment.
There was a global shortage of vaccinations, so only limited quantities were delivered to the British National Health System (NHS).
The company said it would continue to restrict global supplies as it works to ramp up production.
In the UK, NHS guidelines say patients can only access Wegovy, which contains the drug semaglutide, if they are significantly overweight and have weight-related health problems.
According to the Organization for Economic Co-operation and Development (OECD), almost one in three adults in the UK are obese, the highest in Europe.
Although the results have yet to be fully verified, experts agreed that the results are potentially significant.