The global healthcare company could become Europe's first trillionaire company. Photograph: SERGEI GAPON/AFP via Getty ImagesDenmark’s Novo Nordisk and its US rival Eli Lilly could become the world’s first trillion-dollar healthcare companies. So says Gemma Game, healthcare strategist at Norway’s sovereign wealth fund, the world’s largest. Novo has a bit to go yet, but it’s more than halfway there, with Europe’s most valuable company last week exceeding a market value of $500 billion (€460bn) after reporting better-than-expected earnings. Novo trades on 42 times trailing earnings, prompting UBS to recently caution that it struggles to “stretch the valuation further”.

Source: The Irish Times February 05, 2024 05:28 UTC