Novo Nordisk and Orsted troubles spark fears Denmark faces its own 'Nokia moment'

Novo Nordisk layoffs and Orsted’s offshore wind troubles expose the risks of Denmark’s reliance on a handful of corporate giants

The Revolution Wind construction hub in Rhode Island in June 2024. Trump issued a stop-work order for the nearly completed project. Photographer: Adam Glanzman/Bloomberg

AT THEIR heights, Denmark’s corporate champions seemed untouchable.

Novo Nordisk, long known mostly as an insulin maker, was Europe’s most valuable company last year — after riding a surge of demand for Ozempic and Wegovy.