The company making the weight loss pill Wegovy has become Europe's most valuable, dethroning a French luxury conglomerate LVMH. The share price rose after Novo Nordisk, a Danish pharmaceutical company, launched the popular medicine in the United Kingdom. The company's stock was valued at $428 billion, or 339 billion pounds, when it closed on Monday.
In the United Kingdom and on the private market, it is currently available for national health services. Wegovy is an obesity treatment that is taken once a week which tricks people into thinking that they are already full, so they end up eating less and losing weight. Famous personalities such as Elon Musk are among the reported users of the drug, which has captivated Hollywood and the public more widely since it was approved by regulators in the US in 2021.
The term "miracle" is used to describe Wegovy and Ozempic, two medicines that treat diabetes with similar effects. However, experts are warning that the injections may not be a temporary fix or replacement for healthy eating and exercise. Users often regained their weight following discontinuation of treatment in clinical studies.
Reference:
https://www.bbc.com/news/business-66714128
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