In fact, the GLP-1 boom has been such good news for Novo Nordisk that rising drug exports are currently driving the majority of Denmark’s GDP growth—since late 2021, Danish GDP has increased by 3.6%, but economic growth would have been 0% without the contribution of rapid increases in pharmaceutical manufacturing output…
Yet despite the country’s increase in economic output over the last two years, Denmark has struggled to fully translate the GLP-1 boom into rising personal spending or domestic investment. Real Danish household consumption and capital formation have both been stagnant for more than three years, mirroring many of the economic struggles seen in Germany and many other parts of the EU.
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