Novo Outshined by Smaller Obesity Rival on Danish Stock Market
- Zealand’s shares gained significantly more than Novo’s in 2023
- Novo’s success with weight-loss drugs has rubbed off on peers
This article is for subscribers only.
A blockbuster weight-loss drug has turned Novo Nordisk A/S into a pop culture phenomenon as well as Europe’s most valuable company, but on its home turf the stock has been outgained by a much smaller rival.
Zealand Pharma A/S has so far risen 63% in market value on the Copenhagen stock exchange this year compared with 40% for its larger and much more famous peer. Analyst estimates indicate the stock could outperform Novo again in 2024.