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Will AI help Denmark avoid its Nokia moment as Ozempic boom starts fading?

Binu Mathew
By Binu MathewApril 29, 2025

Remember Nokia Oyj, Finland’s economic miracle that turned to dust? The Danes do. Their own mini-boom of recent years has been largely fueled by one firm, Ozempic maker Novo Nordisk A/S, whose diabetes and weight-loss medications are under competitive assault from US rival Eli Lilly & Co. Novo’s share price has halved in six months; it’s given up its crown of Europe’s most valuable firm to SAP SE.

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