"Weight Loss Medication" Triumphs Over "Luxury Brands," Becomes Europe's Top Market Cap

In response to the news of Novo Nordisk's weight loss wonder drug Wegovy entering the UK market, Novo Nordisk's stock price closed up by 0.7%, reaching a market capitalization of $428 billion. Meanwhile, luxury goods giant LVMH Group's stock price dropped by 0.4%, with a market cap of approximately $419 billion.

Novo Nordisk announced on Monday that it would introduce Wegovy to the UK market through a "controlled, limited sales" approach.

Will Semaglutide Become Even More Popular?
In early August, Novo Nordisk revealed the results of the SELECT Phase 3 clinical trial for semaglutide.
Analysis indicates that the trial achieved its primary endpoint, with a 20% reduction in the risk of major adverse cardiovascular events in overweight or obese adults (with no history of diabetes) through weekly subcutaneous injections of 2.4 mg of semaglutide. Novo Nordisk anticipates seeking regulatory approval for expanded indications of semaglutide in the United States and the European Union later this year.