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With its latest expansion of the drug into the U.K., Novo now has become Europe’s most valuable company, dethroning French luxury brand LVMH, which has held the title since 2021.
The analysts point to the stocks' right-sized valuations and a potential improvement in fundamentals. The sector has lagged the S&P 500's rally this year, up just 1%, while the index has surged 26%.
In March, Bernard Arnault was the world’s richest person—with $48 billion more to his name.
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In 2024 Novo Nordisk drug pricing in the US has been a target of lawmakers, including Senator Bernie Sanders and the Senate committee Health, Education, Labor and Pensions (HELP). The committee investigation found Novo Nordisk's drug Ozempic priced for $969 per month in the US, compared to $155 in Canada and $59 in Germany.
The over 250 drug hikes represent an increase from Dec. 29 last year when drugmakers unveiled plans to raise prices on more than 140 brands of drugs. Drug companies are also reducing some prices ...
The new deal reduced the amount paid per share by LVMH from the original price of $135 to $131.50. [47] LVMH completed the purchase of Tiffany in January 2021. [48] Under Arnault's leadership, LVMH has grown to become the largest company by market capitalization in the eurozone, [49] with a record of 313 billion euros ($382 billion) as of May ...