Recently, the French giant LVMH has been dethroned by the Danish company Novo Nordisk.
At the time, Novo Nordisk has become Europe’s most valuable company, with its stock being valued around $190, giving it a total worth of $428 billion.
That’s actually more value than the GDP of Denmark. Amazing.
But exactly how did they do it?
Rather than being a jack-of-all-trades, they preferred to focus their efforts on a profitable market.
The weight loss market and related issues such as diabetes.
Turns out that doing one thing really good is the winning strategy.
The star drugs that catapulted them were Ozempic and Wegovy. These are products used to treat obesity and prescribed to individuals with metabolic disorders that hinder weight loss.
Another key point to their success was their exploration of the Chinese market, which is projected to become the largest diabetes market by 2030.
Novo Nordisk took advantage of this situation and applied a strategy that consisted not only in providing quality products, but a long-term approach to patient care and people education that focused on prevention.
They call that strategy “Defeat Diabetes”, and one of the main goals is providing affordable medicines to the global market.
The company understands that having a good reputation is key to success, so they also have committed to a green agenda, to try and reduce CO2 emissions.
Those approaches help develop trust in the company, it becomes apparent that the market rewards this type of attitude.