January 31 news, Novo Nordisk's stock price rose 3.1%, with its market value reaching $500 billion for the first time.
Novo Nordisk Becomes the Second European Company to Reach the $500 Billion Market Cap Milestone After LVMH
Earlier in the day, Novo Nordisk reported 2023 sales of $33.7 billion and a net profit of nearly $15 billion, both exceeding expectations. Driven by strong demand for the weight-loss drugs Wegovy and Ozempic, Novo Nordisk forecasts fiscal year sales growth of 16%-25% and operating profit growth of 19%-28%.