Fueled by the massive uptake of its GLP-1 agonists Ozempic and Wegovy in the last few years, Novo overtook luxury retailer LVMH as the most valuable company in Europe in September — a position maintained with a market cap of more than $500 billion, which is greater than the GDP of Novo’s home country, Denmark.
Novo’s growth has been so impactful in Denmark that last August, the country’s government lifted its economic growth forecast from 0.6% to 1.2%.
And some Wall Street analysts now predict that GLP-1s will become the best-selling class of drugs in history.
Eli Lilly, whose rival GLP-1 Zepbound hit the scene in December, is on its own upswing. With a market cap at about $612 billion, Lilly is already the most valuable pharma company in the world and is expected to rake in Zepbound sales of $2.2 billion this year alone. READ MORE
by Meagan Parrish
Source: pharmavoice.com
The United Arab Emirates (UAE) Ministry of Health and Prevention (MoHAP) has established a partnership with Novo Nordisk Pharma Gulf focusing on the creation of a national scientific guide for obesity management and weight control. The collaboration also aims to enhance public awareness of cardiovascular diseases and their complications.
Pharma giant Eli Lilly is teaming up with Haya Therapeutics in a $1bn deal to find multiple regulatory-genome-derived RNA-based drug targets, as it eyes up new targets in obesity. Under the deal, the companies will use Haya’s proprietary regulatory genome discovery platform to identify and validate long non-coding RNA (lncRNA) targets for developing potential treatments for obesity and related metabolic disorders.
The sale includes custom formulation and contract manufacturing capabilities for the nutrition market from the production facilities in New Jersey and Utah in the United States, and Tamaulipas, Mexico. Financial terms of the transaction were not disclosed.
