Denmark increases GDP growth forecast but insists it is not all driven by success of weight-loss drugs

The success of Ozempic and Wegovy drugs has transformed Novo into Europe’s most valuable company and been a key driver of Danish economic growth in recent years, triggering worries over the small country’s reliance on the drugmaker

The Danish economy has benefited from drugmaker Novo Nordisk, which has seen huge success with its weight-loss drug Wegovy and diabetes treatment Ozempic. Picture: Mario Tama/Getty Images

Denmark lifted its economic growth forecast for this year and next on the back of stronger employment and pharmaceutical exports and said growth would become less dependent on the success of weight-loss drug maker Novo Nordisk.

The government said it expected gross domestic product to grow by 2.7% this year and 1.8% next year, up from a December forecast of 1.4% and 1%, respectively.