Pharmaceutical company Novo Nordisk has become Europe's most valuable listed company, surpassing luxury conglomerate LMVH. The maker of Ozempic and Wegovy reported record earnings and results thanks to its highly effective diabetes and weight-loss medications.

Furthermore, the company's shares have experienced strong appreciation in recent months, mainly due to investments made to increase its production capacity. The most recent of these was the acquisition of Catalent, already the main supplier of ingredients for weight-loss products, for USD 11.5 billion.