Denmark’s Economy Contracts With Drop in Pharma Production
- Danish GDP fell 1.8% in the first quarter, new data shows
- Novo Nordisk CEO says Denmark shouldn’t worry about blip
A container terminal at the New West Port near the Novo Nordisk A/S production complex in Kalundborg, Denmark.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
Denmark recorded the biggest economic decline since the global pandemic amid a setback in pharmaceutical production, showing how dependent the Scandinavian country has become on its drug-making industry.
Gross domestic product dropped 1.8% from the previous three months, the largest fall in almost four years, Statistics Denmark said on Tuesday in a preliminary reading. A decline in industry and transport drove the contraction, the agency said.