🌟 [ 23 ]   How Novo Nordisk built an empire selling diabetes and weight-loss drugs [ @Yahoo Finance ]

The popularity of Novo Nordisk s (NVO) blockbuster obesity drug Wegovy, and diabetes drug Ozempic, for weight loss, was so great in 2023 that it has been credited with propping up the entire economy of Denmark. It is that impact and buzz that led Yahoo Finance to name Novo Nordisk its 2023 Company of the Year. #weightloss #youtube #yahoofinance Novo s gross profit in 2023 was nearly $26 billion, or almost a 27% increase year-over-year. And the stock is on a tear, up more than 50% in the past year. Let’s look at what started Novo’s boom with Beyond the Ticker, where we take a closer look at some of the company s biggest moments. 1923 Nordisk Insulinlaboratorium commercialized the production of insulin. 1925 Two employees broke away from Nordisk to form rival Novo Terapeutisk Laboratorium. 1982 Nordisk first established its presence in the United States. 1985 The NovoPen, the first insulin pen device, launched. 1989 Nordisk and Novo merged to become Novo Nordisk A/S, the world s largest producer of insulin. 2017 The FDA approved Ozempic for diabetes. 2021 The FDA approved Ozempic to treat obesity in diabetes patients. The FDA also approved Wegovy for weight loss in obese or overweight adults. These two products launched a new era in GLP-1s, which have been around since 2005. 2020 - present Novo has spent more than $7 billion on diabetes and obesity biotechs, fortifying its lead in the brand new obesity market. From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street s trending companies and how they transformed into the financial icons they are today. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.c .

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