Ozempic or Tesla? Markets are in no doubt which is hotter

First, Novo Nordisk, the company behind Ozempic and Wegovy, outgrew its native Denmark. Now, it’s bigger than Tesla.

Shares in the pharmaceutical giant rose jumped more than 8% Thursday, pushing its market capitalization to $609 billion, about $40 billion more than Tesla’s valuation. Investors rushed into Novo Nordisk’s stock after the company reported early-stage results from a trial of amycretin, an experimental weight loss drug that can be taken in pill form. Phase I trial data showed that participants lost 13.1% of their weight after 12 weeks.

” Tesla goes into reverse The fervor surrounding weight loss drugs — over their potential to boost economies by improving people’s health and to upend the business models of food and traditional weight loss companies — mirrors some of the revolutionary rhetoric around electric vehicles. But that industry is struggling as growth in demand for EVs shows signs of slowing.

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