Novo Nordisk: brand value worldwide 2018-2023

In 2023, the brand value of Danish pharma company Novo Nordisk stood at 3.1 billion U.S. dollars. The brand value has increased steadily at a compound annual growth rate of over 20 percent in the presented period.

Rise to fame

Novo Nordisk is best known for producing a range of diabetes treatments. Recently, pharma researchers have discovered that drugs designed to treat the illness also trigger weight loss, and this has been a game changer for the Danish company. Novo Nordisk hit international headlines when it started marketing its weight management injection, Wegovy, which uses the same active ingredient as a diabetic medication called Ozempic. Wegovy has been in such high demand that the producer struggles to satisfy it, limiting supplies to its top market, the United States, while it is working on increasing production.

Impact on the Danish econoy

Novo Nordisk's financial results reflect the success. In the first half of 2023, its profit increased by 45 percent. The company’s estimated market value is higher than its home country’s GDP. According to the Danish National Statistics Agency (Danmarks Statistik), the pharmaceutical industry was responsible for 80 percent of the Danish economy’s growth in the first quarter of 2023. As Novo Nordisk generates next to 100 percent of its sales abroad, it also boosts Demark’s exports.