Denmark Raises Growth Forecast as Novo Expands Output
- GDP expected to grow 2.7% this year, from 1.4% seen previously
- Pharmaceuticals and raw material extraction key growth drivers
Novo is ramping up production of its blockbuster diabetes treatment Ozempic and weight-loss medicine Wegovy.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
Denmark’s government now predicts the economy will expand 2.7% this year, almost double the rate it previously estimated, accelerated by the Scandinavian country’s flourishing pharmaceutical company Novo Nordisk A/S.
The economy ministry raised its 2024 gross domestic product growth forecast from a December estimate of 1.4%. In 2025, GDP is expected to rise 1.8%, up from 1% seen previously.