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RE: LeoThread 2023-09-01 19:27

in #leothreads • last year

🧵 1. Danish drugmaker Novo Nordisk briefly overtakes LVMH as Europe's most valuable company, driven by demand for its diabetes and weight-loss drugs. #business

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    🧵 2. LVMH, the world's biggest luxury retailer, loses top spot due to concerns over Chinese economy. Novo's success shows a shift in market priorities.

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      🧵 3. Novo Nordisk's shares surge 17% on positive results of a study highlighting cardiovascular benefits of its weight-loss drug, Wegovy.

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        🧵 4. Market capitalization battle: Novo Nordisk reaches $421 billion in market cap, inching ahead of LVMH's $420.97 billion. LVMH regains lead later, with values at $423.9 billion and $421.9 billion, respectively.

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          🧵 5. Novo Nordisk's strategy garners investor appreciation as obesity drug market is projected to hit $100 billion in annual sales. Eli Lilly also set to enter with its drug Mounja.

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