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☆ Wegovy maker Novo Nordisk down 4%, heads for worst day since October
▼ + stars: | 2024-05-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Danish pharmaceutical giant Novo Nordisk slid 4% on Friday, extending a 2.7% loss on Thursday as analysts pored over the details of the firm's first-quarter results and monitored a potential rival weight loss treatment. The company reported that sales for its blockbuster injectable weight loss treatment Wegovy, more than doubled to 9.38 billion Danish kroner ($1.4 billion). Novo Nordisk, which also makes diabetes treatment Ozempic, said the rise in sales had offset a slight reduction in prices. Analysts expected even higher weight loss drug sales in the quarter, and some noted that Novo Nordisk's 2024 outlook raise for both sales growth and operating profit was due to one-off accounting adjustments. The boom in demand for weight loss treatments saw Novo Nordisk overtake French luxury group LVMH to become Europe's most valuable company last year.

Persons: Karsten Knudsen, Karen Andersen Organizations: Novo Nordisk, Novo, Morningstar Locations: Novo

Lars Fruergaard Jorgensen has a problem: Too many people want what he’s selling. Even if the company isn’t quite a household name, the TV jingle for its best-selling drug — “Oh-oh-ohhh, Ozempic!” — might ring in your ears. Across the United States, Novo Nordisk’s diabetes and weight-loss drugs, Ozempic and Wegovy, have soared to celebrity status and helped make the company Europe’s most valuable public firm. Last year, when the company was celebrating its centenary, Novo Nordisk’s revenue jumped by a third, to 232 billion Danish kroner, or $33 billion. “Nobody forecast a 100-year-old company would grow more than 30 percent,” he said, seemingly torn between pride and amazement.

Persons: Lars Fruergaard Jorgensen, Jorgensen, ” Mr, ”, Wegovy Organizations: Novo Nordisk, Novo Nordisk’s, Nordisk Locations: Danish, United States, Copenhagen

☆ Lego revenue grows 2% in 2023, as CEO hails 'very, very strong' U.S. progress
▼ + stars: | 2024-03-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). "It was a difficult year," Lego CEO Niels Christiansen told CNBC. The Danish toymaker said operating profit declined slightly from 17.9 billion Danish krone to 17.1 billion, noting that it had boosted spending on strategic initiatives designed to drive growth. Net profit came in at 13.1 billion Danish krone in 2023, compared to 13.8 billion the previous year. Toy company Hasbro earlier this month said its 2023 revenue fell by 15% compared to 2022 and that it expected to see a further decline this year.

Persons: Lego, Niels Christiansen, toymaker Organizations: CNBC, Toy, Hasbro Locations: China, U.S, Europe

☆ Lego revenue ticks higher in 2023, despite trade-downs and China pullback
▼ + stars: | 2024-03-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The Lego company grew sales 2% last year, even as the global toy industry saw sales slip 7%, according to data from Circana. The pandemic-era gains that fueled exponential toy industry sales growth waned in 2023 as consumers cut discretionary spending amid rising inflationary costs and increased credit card debt. Meanwhile Denmark-based Lego posted resilient sales, with revenue reaching 65.9 billion Danish krone, or about $9.65 billion, it said Tuesday. The company saw sales jump 27% in 2021 and 17% in 2022. The toymaker's top-performing brands last year included Lego Icons, Lego Technic, Lego City, Lego Harry Potter and Lego Star Wars.

Persons: Niels Christiansen, Harry Potter, Christiansen, Lego, We're Organizations: CNBC, Lego, Lego Star, Epic Games Locations: Denmark, Lego City, China

☆ Painting by Denmark’s Queen Margrethe II to go up for auction
▼ + stars: | 2024-01-31 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —A painting by Denmark’s former monarch, Queen Margrethe II, is going up for auction. “You now have the opportunity to acquire a very special – and not least royal – work of art,” said the auction house, which has set an estimate of 75,000–100,000 Danish kroner ($11,000-$15,000). The painting dates from 1988, the year that Margrethe started to exhibit her art officially. Queen Margrethe at an exhibition of her work in January 2012 Keld Navntoft/Scanpix Denmark/AFP/Getty Images“The queen found her inspiration for the painting up for auction in the natural world, expressing it in a lyrical idiom. “We are very much looking forward to offering this work by H.M. Queen Margrethe II, which testifies to her immense passion for and prolificacy within art and creative work,” he added.

Persons: Denmark’s, Queen Margrethe II, Bruun Rasmussen, “, ”, Margrethe, Hans Sølvhøj, Queen Margrethe, Keld, ” Niels Boe, H.M, Boe, Hauggaard, “ Queen Margrethe, Frederik, King Frederik X Organizations: CNN, Getty, Contemporary, CNN’s Royal Locations: Scanpix Denmark, AFP, Denmark, Copenhagen

☆ Novo Nordisk beats earnings expectations as Wegovy, Ozempic demand soars
▼ + stars: | 2024-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: 1 min

Novo Nordisk, Europe's largest company by market capitalization, on Wednesday reported better-than-expected 2023 earnings, as sales of its wildly popular anti-obesity and diabetes drugs continued to soar. The maker of weight loss drug Wegovy and diabetes drug Ozempic reported an increase in sales of 31% in Danish kroner and 36% at constant exchange rates (CER) to 232.3 billion kroner ($33.71 billion). Full-year operating profit jumped by 37% in kroner and 44% at constant exchange rates to 102.6 billion kroner. The Danish pharmaceutical giant said it expects sales growth this year of between 18% and 26% in CER terms, as demand surges for Wegovy and Ozempic, which contain the same active ingredient. The 2023 results were fueled by strong performance in the company's diabetes and obesity care division, with obesity care in particular spiking by 154% at CER to 41.6 billion.

Persons: Ozempic Organizations: Novo Nordisk Locations: Europe's, Danish, CER

☆ Diamonds Made With Solar Power Are Offering Fiancées Ethical Fashion
▼ + stars: | 2024-01-13 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

“She really did not want a natural diamond because of the child labor [concerns],” said Henshall. A lab-grown diamond made with solar power. Made largely in China and India, lab-grown diamonds are produced using heat and pressure but without any mining. Three years later the former retail executive started selling lab-grown diamonds produced in a solar-powered factory in Gujarat, India. The volume and quality can vary but is a good barometer of appetite for natural diamonds, as well as prices.

Persons: Peter Henshall, Tasha Mawdsley, Tasha, ”, Henshall, “, Peter aren’t, Paul Zimnisky, Pandora, Laura Lambert, Fenton, “ It’s, We’ve, ” Lambert, ” Beth Gerstein, David Kellie, De Beers, De, Lightbox, LVMH, Cartier, Richemont, Kyle Grant, Grant, it’s, Yusuf Khan Organizations: Natural Diamond, Business, First Insight, Baker Retailing, Wharton School, University of Pennsylvania, Diamond Exchange, Miners, De Beers, yusuf.khan@wsj.com Corrections, Amplifications Locations: Ibiza, China, India, Danish, London, Gujarat, U.S, Amplifications Danish

☆ A British mom who stayed in Denmark's 'maternity hotel' says she had on-call nurses and room service for 3 days after giving birth
▼ + stars: | 2024-01-05 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

AdvertisementIn October 2023, Claire Christensen gave birth to her first child in Copenhagen, Denmark, before checking into a "maternity hotel." The hotel — located in Hvidovre Hospital's maternity ward — allows mothers and their new baby to stay overnight for up to 48 hours after giving birth at no cost, a hospital spokesperson told Business Insider. New mothers in the UK are usually sent home between six and 24 hours after giving birth if they don't require additional care, according to NHS Inform. "Obviously, I was a bit nervous about giving birth in a different country, and I'm not fully fluent yet," she added. After giving birth, Christensen said she and her husband spent two nights and three days in a private room, which had two beds, a crib, and an en-suite shower and bathroom.

Persons: —, Claire Christensen, Claire Christensen Christensen, Christensen, Margot, " Christensen, wouldn't, I'm Organizations: Service, Danish Health Authority, Hvidovre, BI, Bradford, Hvidovre Hospital, Health Locations: Denmark, Copenhagen, Hvidovre, England, Bradford, London

☆ Eli Lilly vs. Novo Nordisk: The pros deliver their verdict on the viral weight-loss stocks
▼ + stars: | 2023-12-06 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

It has been quite a year for both Eli Lilly and Novo Nordisk given the boom in weight-loss drugs. Shares in Eli Lilly are up around 60% year-to-date, while its Danish counterpart Novo Nordisk has seen a gain of around 50%. At present, both Eli Lilly and Novo Nordisk offer weight loss treatments. Novo Nordisk Novo Nordisk's Wegovy recently made headlines for reducing the risk of heart attacks and strokes by 20% in adults with heart disease and obesity. Aside from Eli Lilly and Novo Nordisk, Pfizer , Johnson & Johnson and AstraZeneca are also developing weight-loss drugs.

Persons: Eli Lilly, Stocks, Rahul Ghosh, Rowe Price, TRP's Ghosh, Eli Lilly's, Ghosh, FactSet, Lilly, Novo Nordisk Novo Nordisk's Wegovy, Elizabeth Field, Squawk, What's, it's, Michael Bloom Organizations: Novo Nordisk, Nordisk, CNBC Pro, U.S . Food, Administration, pharma, Novo Nordisk Novo Nordisk's, Heart Association Scientific, Citi, Pfizer, Johnson, AstraZeneca, Barclays Locations: Danish, U.S, Novo

☆ Bite-mark tattoos are having a moment. A dermatologist warns that they could be dangerous.
▼ + stars: | 2023-11-30 | by ( Maria Noyen | ) www.businessinsider.com time to read: +6 min

A quick peruse on social media and you'll quickly see that bite-mark tattoos are having a moment. However, a Betty Zoo Tattoo representative told Business Insider that the tattoo — which cost roughly 800 Danish kroner, or around $118 — was "harmless." You don't know where that person's mouth has been," the tattoo artist, who goes by Miss Vampira on Instagram, said. Mary Minahan is a tattoo artist with over a decade of experience in the industry. And while he's happy with his new ink, Thage said he plans to return to Betty Zoo Tattoo for a touch-up.

Persons: Oliver Thage, Thage wasn't, —, you'll, Zoo Oliver Thage, didn't, Mary Minahan, Miss Vampira, Dr, Adam Friedman, it's, Friedman, Minahan, Thage Organizations: Service, Betty Zoo Tattoo, Business, Miss, George Washington University, Betty Zoo Locations: Danish, York City

Still life of Wegovy an injectable prescription weight loss medicine that has helped people with obesity. It should be used with a weight loss plan and physical activity. Novo Nordisk on Thursday reported record profits and sales for the third quarter, but said supplies of its hugely popular weight loss drug Wegovy would continue to be restricted. The Danish pharmaceutical giant posted third-quarter sales of 58.73 billion Danish krone ($8.34 billion), a 29% increase from the same period last year, driven by demand for its flagship Ozempic and Wegovy drugs in the U.S. The company has struggled to keep up with demand for Wegovy, an appetite-suppressing anti-obesity drug, forcing it to limit the number of patients able to begin treatment.

Persons: Wegovy, Elliot Smith Organizations: Novo Nordisk, U.S Locations: Danish

☆ Carlsberg would rather lose its Russian business than negotiate a deal with Moscow, and it shows how hard it is for companies to exit the market
▼ + stars: | 2023-11-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The CEO of Danish brewer Carlsberg says Moscow has "stolen" its business in Russia. Moscow seized Carlsberg's assets in July, weeks after the brewer announced it had found a buyer for its Russian business. Carlsberg said it's cutting ties with its Russian business as it can't find an acceptable solution to resolve the issue. AdvertisementAdvertisementDanish brewer Carlsberg operates eight breweries and employs more than 8,000 people through its Russian unit, Baltika Breweries. However, on July 16, Russia seized Baltika.

Persons: Carlsberg, Moscow, —, Jacob Aarup, Andersen, Dmitry Medvedev, Medvedev, they'd, Baltika, Carlsberg's Organizations: Service, Carlsberg, Baltika Breweries, Carlsberg Group, Financial Times, Russian, Unilever Locations: Moscow, Russia, Carlsberg, Ukraine, British

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

☆ Orsted Books $4 Billion in Impairments, Walks Away From Two U.S. Offshore Projects
▼ + stars: | 2023-11-01 | by ( Dominic Chopping | ) www.wsj.com time to read: +5 min

However, the company said it has taken the final investment decision on the Revolution Wind project offshore Rhode Island, meaning it will now proceed to construction phase. Orsted isn’t alone in facing the increasing financial challenge of building new sprawling offshore projects. New York regulators last month denied requests from offshore wind developers including BP , Equinor and Orsted to give them a higher price for electricity generated from their projects off the state’s coast. The company still sees full-year Ebitda excluding new partnership agreements and provisions of between DKK20 billion and DKK23 billion. Gross investments for the year are now seen at DKK40 billion to DKK44 billion from DKK44 billion to DKK48 billion previously.

Persons: DADO RUVIC, REUTERS Orsted, Orsted, ”, Mads Nipper, Orsted isn’t, Norway’s, Dominic Organizations: REUTERS, Eversource, BP, New Locations: New Jersey, DKK268, Danish, Rhode, New York

☆ I moved to Denmark for a happier life—but here's what I still miss about living in the U.S.
▼ + stars: | 2023-10-25 | by ( Ilana Buhl | ) www.cnbc.com time to read: +4 min

It feels like a city, but it's small enough that everything is still accessibleIn 2018, I married my Danish husband and moved from Dallas, Texas to Copenhagen, Denmark. American grocery stores have a wide variety of ingredients and interesting foods. In Denmark, grocery stores tend to be smaller and offer a limited selection. But I still convert prices from the Danish kroner to the dollar pretty often. But in Copenhagen, they're often delivered to pickup points in grocery stores, convenience stores, or other public locations.

Persons: I've, Ilana, Ilana Buhl, Joe's, Annie's, they're Organizations: Central Market, Foods Locations: Copenhagen, Dallas , Texas, Denmark, U.S, Texas, Mexico, Danish, Amazon.de

☆ We moved to Copenhagen to raise our young kids. Childcare is astronomically cheaper and better, but we miss the convenience of shopping on Amazon.
▼ + stars: | 2023-10-25 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

I wanted to raise my children in EuropeOwens, her husband, Shawn, and their three children. I brought my kids outside all the time even before we got here. I feel safe enough to leave my kids outside when I go run into a convenience store or a bakery. If you want to do Amazon, you can do Amazon Germany, but it's more expensive to ship from there to here. Ellie OwensIf you are okay with living outside the city and commuting in, you can find a lot cheaper housing.

Persons: Ellie Owens, —, Shawn, he'd, Europe Owens, he's, They're, I've, Owens, it's, We're Organizations: Service Locations: Denmark, Copenhagen, Ridgefield , Connecticut, New York, Detroit , Michigan, Bremen, Germany, Europe, Swedish

☆ Deutsche Bank just cut its price target on nearly 30 global stocks ahead of earnings — and upgraded 1
▼ + stars: | 2023-10-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Ahead of the upcoming earnings season, Deutsche Bank has cut price targets on nearly 30 European stocks this week and upgraded just one to "buy." The bank's biggest cut to price target was for Denmark's energy giant, Orsted . In online food delivery, Deutsche Bank said its proprietary data shows demand stabilizing for takeaway apps across markets it monitors. Elsewhere in the European utility sector, the investment bank struck a positive tone in its outlook despite the price target cuts. Deutsche Bank analysts prefer integrated utilities like RWE , Enel , SSE , and E.ON , reiterating "buy" ratings on the stocks but lowering their price targets by 2% and 12%.

Organizations: Deutsche Bank, E.ON, Fineco Bank Locations: Swiss, Enel

☆ How Ozempic and Wegovy turned Novo Nordisk into a $400 billion company
▼ + stars: | 2023-10-10 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Danish drugmaker Novo Nordisk has entered a new chapter in its 100-year history — thanks to its newfound success with two products: Ozempic and Wegovy. Their skyrocketing popularity has boosted Novo Nordisk to new heights. Novo Nordisk's share price has more than quadrupled in the past five years, making it Europe's most valuable company by market cap. "It's clear that nobody had expected that it would be taking off this quickly," said Novo Nordisk CEO Lars Fruergaard Jørgensen in August. In 2018, the first full year with Ozempic on the market, Novo Nordisk's net sales were 111.8 billion Danish krone, or $17.7 billion, using an average exchange rate at the time.

Persons: Lars Fruergaard Jørgensen, Ozempic, Jared Holz, Semaglutide, Eli Lilly, Mounjaro Organizations: Nordisk, Novo Nordisk, Nordisk's, Novo Nordisk's, Trilliant Health, Mizuho, Pfizer, Food and Drug Administration

☆ 'One of the cheapest stocks': Bank of America just upgraded these 3 luxury names in Europe
▼ + stars: | 2023-09-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. The investment bank expects profit margins to decline by one percentage point for the sector even as third-quarter revenue is seen growing modestly. Meanwhile, the investment bank upgraded Ermenegildo Zegna and Pandora to buy, and Hugo Boss to neutral from underperform. The investment bank believes a similar pattern will likely emerge in Europe with spending on the continent peaking early this year. Despite Pandora shares' 45% rally this year, the Bank of America analyst still considers it "one of the cheapest stocks in all of Consumer Discretionary."

Persons: Prada, Tod, Pandora, Hugo Boss, Ashley Wallace, Wallace, Pandora Wallace Organizations: of America, Bank of America, underperform, Zegna Bank of America Locations: Europe, United States, U.S, China

☆ Jens Haaning ordered to repay museum $76K after submitting blank canvases titled ‘Take the Money and Run’
▼ + stars: | 2023-09-20 | by ( Christy Choi | ) edition.cnn.com time to read: +4 min

Instead, the artist sent the museum two empty frames entitled “Take the Money and Run,” saying he had created new, “better” pieces to fit the exhibition’s theme. “And if needed… take the money and run,” he added. Despite its protestations, the Kunsten Museum of Modern Art exhibited Haaning’s empty canvases alongside a print-out of an email in which he explained his actions. The ruling also dismissed a counter-claim made by Haaning, who alleged that the museum had infringed on the work’s copyright. And then it also applies to the question: Are artists paid enough for what they do?”Kunsten Museum of Modern Art in Aalborg, Denmark.

Persons: CNN — Jens Haaning, Dane —, Jens Ziehe, “, …, ” Haaning, Maurizio Cattelan, Yves Klein, Haaning, ”, Lasse Andersson, Andersson, John Peter, Alamy Andersson Organizations: CNN, Kunsten Museum of Modern Art, Austrian, Kunsten Museum of Modern, Court, Kunsten, of Modern Art Locations: Copenhagen, Aalborg, Denmark’s Jutland, Denmark

☆ Ozempic maker Novo Nordisk isn't just Europe's second-most valuable company. It is also singlehandedly boosting Denmark's economy.
▼ + stars: | 2023-09-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Ozempic-maker Novo Nordisk is Europe's second-largest company by market capitalization. It's also boosting Denmark's economy all on its own. AdvertisementAdvertisementNot only that, Novo Nordisk has also been propping up Denmark's economy all on its own. Jonas Petersen, an analyst at Denmark's statistics department, further told the AFP that the trend is "changing the picture of the economy." Denmark's statistics department and Danske Bank's Olsen did not immediately respond to requests from Insider for comment sent outside regular business hours.

Persons: It's, would've, LVMH Moët Hennessy Louis Vuitton, Elon Musk, Amy Schumer, they've, Las Olsen, Jonas Petersen, Bank's Olsen Organizations: Novo Nordisk, pharma, Service, Novo Nordisk's, Novo, Danske Bank, AFP, Nordisk Locations: Wall, Silicon, Europe

☆ Novo Nordisk owner invests $290 million in energy transition fund
▼ + stars: | 2023-09-14 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

FILE PHOTO-A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsCompanies Novo Nordisk A/S FollowLONDON, Sept 14 (Reuters) - The controlling shareholder in drugmaker Novo Nordisk on Thursday announced a major investment in a new energy transition fund as it expands its portfolio beyond health. Novo Holdings controls 76% of the votes in Denmark's Novo Nordisk (NOVOb.CO), which became Europe's most valuable company last week on the back of soaring profits from its weight-loss drug Wegovy and type 2 diabetes drug Ozempic. Novo Holdings' capital to invest is burgeoning on Novo Nordisk's financial performance. Novo Holdings is wholly owned by the Novo Nordisk Foundation, which lists its aims as providing "a stable basis for the commercial and research activities conducted by the companies within the Novo Group", of which Novo Nordisk is the largest, and supporting "scientific, humanitarian, and social purposes."

Persons: Jacob Gronholt, Pedersen, Morten Beck Jorgensen, " Jorgensen, Maggie Fick, Amanda Cooper, Elaine Hardcastle Organizations: Novo Nordisk, REUTERS, drugmaker Novo Nordisk, Novo Holdings, Denmark's, Denmark's Novo Nordisk, Holdings, Glentra Capital, Glentra, Reuters, Novo, Novo Nordisk Foundation, Thomson Locations: Copenhagen, Denmark, drugmaker Novo, Denmark's Novo, Glentra Capital

☆ Business is booming for the maker of weight-loss drugs Wegovy and Ozempic — so much so that it is threatening luxury giant LVMH's crown as Europe's most valuable firm
▼ + stars: | 2023-09-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Novo Nordisk has been trading places with LVMH for the title of Europe's most valuable company. The Danish pharmaceutical giant makes the buzzy weight-loss drugs Wegovy and Ozempic. AdvertisementAdvertisementNovo Nordisk, the maker of weight-loss drug Wegovy and diabetes drug Ozempic, has been trading places with French luxury-goods conglomerate LVMH for the title of now Europe's most valuable firm. The UK's NHS recently said that it plans to begin giving out some limited supplies of Wegovy for weight management. Arnault and his family own around 48% of the company's total shares.

Persons: Wegovy, Louis Vuitton, Ozempic, Elon Musk, Bernard Arnault, Arnault Organizations: Novo Nordisk, Morning, Nordisk, Dior, Tiffany, FDA, NHS Locations: LVMH, Danish, GLP, North America

☆ Novo Nordisk, the maker of Wegovy and Ozempic is now Europe's most valuable company
▼ + stars: | 2023-09-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Novo Nordisk has dethroned Bernard Arnault’s luxury goods giant LVMH as Europe’s most valuable company. At the close of trading Monday, Novo Nordisk (NVO) had a market capitalization of 2.96 trillion Danish krone ($428 billion). “We are just scratching the surface,” Novo Nordisk CEO Lars Fruergaard Jørgensen told CNN’s Meg Tirrell in a recent interview. Novo Nordisk has raked in almost 49 billion Danish krone ($7 billion) in profit over the first six months of this year, up 30% from the same period in 2022. Booming sales of its drugs have led to an influx of US dollars into Denmark’s economy, pushing up the value of the Danish krone.

Persons: Bernard, Wegovy, Louis Vuitton, Hennessy, —, “, Steve Barclay, Carsten Snejbjerg, Lars Fruergaard Jørgensen, CNN’s Meg Tirrell, …, ” Organizations: London CNN — Novo Nordisk, Novo Nordisk, Louis, Health Service, Health, Social Care, Nordisk, Nordisk's, Bloomberg, Getty, World Health Organization, Danish krone, European Central Bank, Novo, UBS, Wegovy Locations: Danish, Ozempic, Wegovy, United States, Copenhagen, Denmark, Denmark’s, Novo Nordisk’s

☆ Lego sales increase while other toy makers struggle
▼ + stars: | 2023-08-30 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

While other toy companies struggle with an inflation-fueled sales slump, Lego is building positive results brick by brick. Meanwhile, publicly traded rivals such as Mattel , Hasbro , Funko and Jakks Pacific have all reported double-digit revenue and sales declines so far this year. "I think what makes me very satisfied is this fact that we continue to outgrow the industry," CEO Niels Christiansen told CNBC. Toy companies across the industry saw massive gains during the Covid-19 pandemic, as parents looked for ways to keep their kids occupied during lockdowns. The region is newly exposed to the iconic building bricks and physical locations have helped show adults and children how to play with Lego.

Persons: Niels Christiansen, we've, Christiansen, That's Organizations: Mattel, Hasbro, Funko, Jakks, CNBC, lockdowns, U.S ., Star Locations: Danish, Mexico, Virginia, China

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