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☆ Weight loss drugs like Ozempic and Wegovy are fattening up Denmark's economy and helped it dodge a recession last year
▼ + stars: | 2024-03-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Danish pharma giant Novo Nordisk makes both Ozempic and Wegovy. The novel drugs are also boosting pharma stocks — and Denmark's economy. Advertisement"The pharmaceutical industry has been the main driving force in the Danish economy in both the fourth quarter and for the whole of 2023," the agency said. Genmab, Zealand Pharma, and H. Lundbeck are among the other big Danish pharma firms. AdvertisementSuch businesses were a rare bright spot for Denmark's economy last year because they invested in infrastructure, created jobs, and boosted manufacturing, according to Danske Bank's chief economist Las Olsen.

Persons: —, it's, Las Olsen, Olsen Organizations: Danish pharma, Novo Nordisk, Service, Nordisk, Zealand Pharma Locations: Denmark, Danish, Copenhagen

☆ 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

☆ Debt ceiling: Denmark has one, too. It's never been a problem
▼ + stars: | 2023-05-09 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

President Joe Biden will host Republican House Speaker Kevin McCarthy and other congressional leaders at the White House on Tuesday for a critical meeting on raising the US debt ceiling. The closest analogue to the US debt ceiling is the set-up in Denmark. Lawmakers did not want the debt ceiling to become a proxy for difficult conversations about the government’s fiscal plans. That makes it less likely the debt ceiling could be turned into a political football. Even so, it’s clear that in Denmark, the debt limit has enabled the smooth functioning of government, Kirkegaard said.

☆ Denmark's central bank raises key rate to highest level in 13 years
▼ + stars: | 2022-10-27 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 27 (Reuters) - Denmark's central bank raised its key interest rate by 0.60 percentage points to 1.25% on Thursday to its highest level in thirteen years, following a rate hike earlier in the day by the European Central Bank. "The interest rate increase is a consequence of the increase by the European Central Bank of its main monetary policy rate," the central bank said in a statement. Denmark's move puts its main interest rate at its highest level since August 2009. Normally, the central bank follows the ECB's rate moves, but this time it raised rates less, Danske Bank chief economist Las Olsen said in a note. "This time they have chosen a slightly smaller interest rate increase because they actually want a slightly weaker crown," Olsen added.

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