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Acquired · June 24, 2024 · 225m

Novo Nordisk

How a 100-year-old Danish insulin company accidentally discovered the most important weight loss drug in history. The GLP-1 journey from diabetic side effect to Ozempic and Wegovy, making Novo Nordisk the most valuable company in Europe.

Canon

The GLP-1 weight loss effect was a lucky side effect noticed during diabetes trials. But only Novo Nordisk had 100 years of insulin manufacturing expertise, regulatory relationships, and patient data to turn that observation into a global product.
Novo Nordisk is majority-owned by the Novo Nordisk Foundation, which is required to use profits for scientific and humanitarian purposes. This structure creates meaning through perpetual responsibility — the company exists to serve, not to profit.