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A booming demand for weight loss drugs has turned Ozempic into a household name. By next year, the Danish pharma giant behind it, Novo Nordisk, could even surpass Lego as Denmark’s most valuable brand, according a prominent global brand consultancy.
“Novo Nordisk could surpass LEGO in the 2025 rankings, potentially crushing LEGO’s chances of a decade-long reign as Denmark’s most valuable brand,” Brand Finance CEO David Haigh said.
The annual list of Denmark’s 50 most valuable brands put Novo Nordisk in the second spot and names the Nordic country’s third most valuable brand as Maersk, a shipping company whose cargo ship caused the Baltimore Bridge collapse in March 2024.
Novo Nordisk, which also produces the weight loss drug Wegovy, has seen its brand value soar 59% so far this year to 35.4 billion Danish kroner ($5.13 billion).
The nostalgic toy brand Lego remains in the top spot for the ninth consecutive year. Its brand value this year rose 3% to 55.2 billion Danish kroner ($8 billion).
Demand for semaglutide — the active ingredient in Ozempic and Wegovy — has been unrelenting, resulting in a shortage that dates back to 2022. Still, the company expects its sales to rise between 19% to 24% in 2024.
This is just one example of how Novo Nordisk’s success has shifted the economic landscape in Europe and around the world.
Novo Nordisk in now the most valuable company in Europe by market cap, surpassing LVMH.
It is the second largest pharmaceutical company in the world, and the 12th largest company in world with a market cap of $643 billion.
Beyond that, some analysts expect its slimming drugs to help boost the fitness industry and reshape the food sector.
Novo Nordisk CEO Lars Fruergaard Jorgensen even said that chief executives at food companies are calling him for advice regarding the diabetes and weight loss drugs.
“A couple of CEOs from, say, food companies have been calling me,” Jorgensen told Bloomberg. “They are scared about it.”