Ozempic generated about $17 billion in sales in 2024 and over $10 billion in the first half of 2025. Novo Nordisk's market value exceeds $500 billion, surpassing Denmark's GDP. The company began as Copenhagen-based Nordisk and has evolved into a global pharmaceutical firm producing diabetes drugs and treatments for wound healing, menopausal hormone replacement, and growth hormone. Ozempic and Wegovy were developed for diabetes but produced significant weight-loss effects that became highly profitable. Novo Nordisk is advancing other obesity candidates including amycretin and CagriSema, is expanding production in Brazil, secured FDA approval of Wegovy for MASH, and appointed a new CEO.
Among all the weight loss drugs, Ozempic has become a phenomenon. With as much as $17 billion in sales in 2024 and over $10 billion in the first half of 2025, it shows no signs of slowing down, much to the delight of its Danish manufacturer, Novo Nordisk A/S ( NYSE: NVO). This Scandinavian economic behemoth is one of the highest-valued companies in Europe at over $500 billion, which exceeds Denmark's entire gross domestic product.
Founded a century ago, Copenhagen-based Nordisk originally made insulin. After coming to the United States in 1982, it underwent several corporate changes until becoming Novo Nordisk in 1989. In addition to diabetes drugs, the company also makes drug treatments for wound healing, menopausal hormone replacement, and human growth hormone. Ironically, Ozempic and Wegovy, like many of Novo Nordisk's other products, were created primarily for treating diabetes. The weight-loss factor has become a very profitable and unintended side effect.
Besides Ozempic and Wegovy, the company has made progress recently on other obesity drugs in its pipeline, including amycretin and CagriSema. It has announced plans to invest billions to expand its production site in Brazil, and the FDA has granted approval for Wegovy for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), a serious liver disease. And it recently appointed a new president and chief executive officer.
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