How Ozempic Could Break Denmark's Economy

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For more than a decade, Novo Nordisk, a Danish pharmaceutical company, has been one of Denmark's biggest companies, slowly turning into one of Europe's biggest. In this video, we take a look how Novo got here, and why this is a serious risk for the Danish economy.
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1 - www.stephanguyenet.com/obesit...
2 - www.nhsinform.scot/illnesses-...
3 - www.economist.com/the-economi...
4 - www.economist.com/the-economi...
5 - www.reuters.com/business/heal...
6 - www.economist.com/the-economi...
7 - www.economist.com/briefing/20...
8 - www.macrotrends.net/stocks/ch...
9 - www.ft.com/content/710c1048-7...
10 - www.economist.com/the-economi...
11 - www.economist.com/the-economi...
12 - www.statista.com/statistics/2...
13 - companiesmarketcap.com/novo-n...
14 - countryeconomy.com/gdp/denmark
15 - www.ft.com/content/c4e8a5e2-6...
16 - www.phenomenalworld.org/analy...
17 - datacommons.org/tools/timelin...
00:00 - Introduction
01:12 - Ozempic and Wegovy Explained
03:45 - Novo's Supercharged Growth
05:37 - Why This is a Risk for Denmark’s Economy
08:00 - Sponsored Content

[@pellept0327]

One of the ways Denmark is trying to prevent a crash though is by ignoring the income from Norvonordisk when doing statistics and planning, of course they still make statistics with and use money from Norvonordisk, but it's more seen as a bonus rather than a "this is how it will always be"

[@TheAmericanAmerican]

HA!!! As if economists are capable of thinking so logical and rational! Da line ALWAYS goes UP!!!!

[@pollutingpenguin2146]

@@TheAmericanAmerican not all countries are as irresponsible as the USA and the UK.

[@TheAmericanAmerican]

@@pollutingpenguin2146 Penguin, we live on a planet that's been DOMINATED by capitalism for the last 300+ years. Greed and the pursuit of never-ending growth is not just a USA and UK thing. It's a feature of capitalism.

[@DanskerneFraDanmark]

@@TheAmericanAmerican Well Denmark is just built different lmao

[@pollutingpenguin2146]

@@TheAmericanAmerican capitalism has created the wealth we get to enjoy in the west. Denmark is just more socially responsible compared to a lot of other nations. There’s a reason why it’s the country with the highest trust in the world. It’s the worlds least corrupt nation and one of the happiest. I’m sorry that you apparently live in a shitty country, but the whole world doesn’t live in a shitty, corrupt and irresponsible place.

[@royw-g3120]

Worked there from 2000-17. Very Scandinavian , environmentally friendly company. It is controlled by a charitable foundation who own all of the "A" shares which means it cannot be taken over. This allows it to focus on long term investment and strategy and it is certainly paying off now. sadly had to sell my shares a few years ago .

[@Agtsmirnoff]

Cares more about the environment than people being able to afford its drugs 😂

[@l-dogtheman1685]

​@@Agtsmirnoff On the contrary, their drugs are much more affordable compared to other companies, probably because they care for the environment. In my experience, environmental and social conscience go hand in hand, while those companies that love to pump more emissions into the air and pollute water ressources with chemicals are the ones that also love to jack up prices, thus risking public health. If more people bought those affordable drugs from environmentally-friendly companies like Novo Nordirsk and less from asshole companies all around the world (like Turing Pharmaceuticals), the world would be a better place

[@Agtsmirnoff]

@@l-dogtheman1685 "their drugs are much more affordable compared to other companies" Got a source on that? I call total BS. Even in 2020 they were still charging $350 for a 10mL vial of Novolog or Levemir. Both Eli Lily and Sanofi had cheaper prices on their alternatives.

[@Agtsmirnoff]

@@l-dogtheman1685 Their supposed improved environmental impact, if it is even a real thing (doubtful!), is utterly insignificant. Meanwhile, people have literally died because they couldn't afford their product. Dollars and cents, not some dumbass Hippy assumption that feigning environmental somehow automatically means they don't price their drugs in a way nobody can afford out of pocket.

[@thusspokezarathustra1847]

@@Agtsmirnoff By nature European companies can't produce globally affordable drugs. It's only up to countries like India who provide most of cheap drugs in the world. But currently India doesn't have the robust research infrastructure like US & European companies but this is changing. Hopefully Indian medicine boom happens like the IT boom.

[@Lemonz1989]

They are only selling Ozempic in 10 countries and Wegovy in 4 countries. There is a huge untapped market for the medications. They aren’t currently expanding because they can’t meet demand in the countries where they are already operating. Also, Novo sells medications that are necessary for life for millions of people, so the company isn’t going to collapse anytime soon, unless someone cures both type 1 and type 2 diabetes all of a sudden. Nokia, on the other hand, sold a product based on popularity.

[@AxelQC]

Eli Lilly's Mounjaro is already said to be more effective than Ozempic.

[@Lemonz1989]

@@AxelQC It isn’t as widely available yet, and Eli Lily’s own research showed it to only be between 2% and 3% more effective, so I don’t think it will completely dethrone Ozempic and Wegovy. I think as demand falls for those, Novo will just expand to more markets since more supply will be available because of it. The real difference in income will probably come when the patents expire in the 2030’s.

[@TanyaLairdCivil]

I wouldn't be so sure writing off the dangers to Denmark here. Nokia wasn't guaranteed to collapse. In another timeline, they could have kept innovating and retained a strong position in the market. Or, if the smartphone had never really taken off, they would still be strong today. But Novo Nordisk has a guaranteed endpoint for their current success. Their patents will only last so long. And drugs don't really work like smartphones. There isn't a new edition every year; they're just molecules. Generic ozempic is just as good as Novo Nordisk's, a molecule is a molecule. Sure, they can keep inventing new drugs, but as the success of ozempic itself shows, that's not something that's so easy to do. It's not like Novo Nordisk has had this level of success for decades, with runaway success after runaway success. They've never been unsuccessful, but ozempic represents a true lightning strike, the kind of absurdly profitable discovery that comes about once a generation or less. And once those patents run out, that revenue stream just collapses. Yes, ozempic has a lot of growth potential, but from the perspective of Denmark's economic stability, that's even worse. Ozempic's patents will run out at the same time, regardless of how many countries it's sold in. In terms of the negative effects this kind of thing can have on an economy, look up the concept referred to as Dutch disease.

[@gentlemandemon]

Diabetics don't constitute the majority of the market for these drugs at the current moment. It's the people paying out of pocket for the weight loss benefits that are driving the company's sales, and Novo stands to lose a lot of income if demand dries up

[@ccv6741]

The patents for Wegovy will expire and generic versions will become available. That will affect Novo Norsdisk

[@EinherjarDK176]

To a Dane, ending up like Finland doesn't sound frightening at all. Ending up like Sweden, on the other hand... 😱

[@laniakea31]

I don't remember the last time I have read some bad news coming from Finland, on the other hand Sweden is constantly in the news nowadays, and not a single of that news was good. So, I see your point, Finland looks pretty good now compared to Sweden.

[@fanofcodd]

It has nothing to do with economy , Sweden problems come from immigration.

[@Campaigner82]

Yeah it’s not good over here….🇸🇪

[@Agtsmirnoff]

Ending up completely cucked?

[@mikloscsuvar6097]

​​@@fanofcoddStupid western overtolerance made them victim. The West must learn a healthy type of prejudice, called racism by some, from Central and Eastern Europeans.

[@miladalibabaie3311]

It doesn't make the most sense to compare GDP to market cap: GDP is more so a change in valuation, whereas market cap is an actual valuation... Maybe compare Denmarks ~$400bn annual GDP to NVO's ~$30bn annual revenue?

[@JRuivo]

You are correct in that they shouldn't be used, because GDP is a flow and Market Cap is a stock, and these are unrelated.

[@faroncobb6040]

Additionally, about $20b of that revenue predates the new drugs. However there is a lot more to the story than revenue. NVO will be be hiring huge amounts of people in Denmark, which will increase the GDP well beyond what their increase in sales represents. And the big one will be that the company is now half of the value of Denmark's stock exchange. If the company crashes, so will the savings of a large number of Danes, which will also drive down GDP.

[@bruceh9780]

One company that makes 7.5% of your annual GDP is still a massive risk.

[@bentalexranebundgaard4867]

@@bruceh9780 Samsung stands for more than 20% of South Koreas GDP

[@BOZ_11]

@@JRuivo yeah but it's still impressive, though you're right

[@AaronVanWolfen]

As someone who immigrated to Denmark to open a company... -The Danish economy is versatile and diverse; they also have the biggest maritime logistic company in the world (Maersk), the biggest wind turbine producer (Vestas), the biggest toy company (Lego), and other conglomerates (mostly family owned and private) that create significant wealth for the country. -There is no minimum wage, so there is no "forced" economic output, and the government does not have any problem cutting expenses, so in case of a crisis with Novo, the economy, consumption, wages, and public expenses will fluid accordingly with the situation. -Denmark has low taxes on the profit of corporations (22%), and most of the government revenue comes from personal income tax, so the government is not so dependent on the profit of Novo. -Denmark has a very stable currency and controlled inflation even before the Novo "gold mine", so it will be fine. - The biggest wealth in Denmark is the human capital and the economic policy toward companies, so if Novo fails, it doesn't matter; it's just a matter of time before another big company rises. -Market valuation is not always a synonym for wealth. Mitsubishi and its affiliates have a low market valuation due to their corporate nature but still produce more wealth than JP Morgan. (Yes, Elon Musk is not the richest man on earth ☠) So, no worries, the kingdom of strawberries will be fine.

[@parkmannate4154]

As an American a 22% tax on corporate profits seems absurd unless Denmark also has all the loopholes to get it down to 0 as well

[@jtgd]

@@parkmannate4154isn’t absurd… especially when lots of corporations are from states that offer tax breaks that behave like rebates.

[@Lemonz1989]

@@parkmannate4154 22% of profits, not revenue. If there are no profits, then taxes are almost nonexistent. The US has a corporate tax rate of 21%.

[@24jh42]

Shipping pays tonnage taxes instead of corporate taxes (EU regulation). That is a tax on the existence of the ships, and not the profit they generate. Maersk shipping broke the Danish record in 2021 to become the first company netting over 100 billion Danish kroner in profit after tax. In 2022 they did it again to the tune of a whopping 203 billion kroner ($28.73 billion). The normal corporate tax in Denmark is on profits and losses are deductable in the following tax years. So the effective tax rate is maybe 13-17% of the profit declared, and the companies, especially the larger global ones can do all sorts of perfectly legal methods to adjust how much profit there is. Novo Nordisk in 2022 had a turnover of 177 billion. A profit of 55.7 billion and paid 8.3 billion in corporate tax. My limited math skills makes that a 15.57% corporate tax.

[@parkmannate4154]

@@Lemonz1989 First its a little tongue in cheek but second no US corporation pays 21% on profits lol

[@ikinloch4618]

I love the way he says insulin. 😂

[@Mefhisto1]

INSHOOLIN

[@kherynnw8603]

At first I was like “huh? Inshoolin” I thought I ,it’s heard it. But nope - he definitely said “inshoolin”

[@al1665]

That's the Tony Soprano pronunciation

[@jbaidley]

Isn't comparing market cap to GDP comparing apples to oranges? GDP is about activity in the economy, market cap is a fantasy version of value.

[@TheFattestLInHistory]

It is reality vs expectation. Expectation is not the same thing as fantasy, though it definitely can be in a speculative market

[@chinguunerdenebadrakh7022]

^ person who doesn't understand the stock market A valuation of a company is not about current revenue or performance, it's about future expected revenue and profit. Amazon barely made a profit for like 20 years till 2018 or something, they had sky high valuation, doesn't mean that valuation was bullshit as they're delivering nicely on dividends.

[@kennethkho7165]

Annual GDP should be compared to annual revenue, in this case Denmark's GDP is $400 billion and Novo's revenue is $20 billion in 2020, $30 billion in 2023, $40 billion in maybe 2026. And remember, this is worldwide revenue, Denmark is only the R&D location, not the manufacturing location.

[@realGBx64]

@@chinguunerdenebadrakh7022market cap is just based on the last transaction. And “expextation” is still not reality, i.e. fantasy. Yeah amazon is a nice cherry picked example, or rather, survivorship bias!

[@kolrhcp]

@@chinguunerdenebadrakh7022 but it's often wrong, and tonnes of companies have a giant market cap for a long time before collapsing or not delivering.

[@antrazitaj5209]

Even if the whole weight loss things falls away, Ozempic and others meds that function like that are really great for T2 diabetics, it is practically self-stabilising. And there are a lot of diabetics.

[@jonevansauthor]

Yup. India has a growing middle class, as does everywhere that didn't previously have a massive one. With that comes the mysterious problems of massive weight gain, obesity and T2 diabetes. Totally unclear why. So yeah, the only thing that will disrupt an apparently successful diabetes or weight loss treatment is a better and/or cheaper one. Or a massive societal change where we all start counting calories and going for exercise, which would be nice but isn't like to happen on the same timescale as Nokia's phones becoming completely out of date tech.

[@strateeg32]

but at what risks? The thyroid cancer is already a huge red flag

[@jonevansauthor]

@@strateeg32 only if it's a massive increase. Thyroid cancer is treatable much more easily than obesity is. The increased risk, which sounded like it was a possibility not a guarantee so requires more study, might be so marginal it doesn't matter. Only total health outcome really matters.

[@antrazitaj5209]

@@strateeg32 The thyroid cancer risk was found for animal testing, not humans. Lots of medications have things like that. Also, you can easily die of not properly treated diabetes

[@strateeg32]

@@antrazitaj5209 It is still an important sign and we such medicine we don't know the long term impact. Hell, even the video stated the poor track record of weight loss medicines. Which in beginning did not even have such a red flag. Also, you are missing that there is already a proper treatment for diabetes. This is just an overexpensive medicine designed by greedy pharmaceutical company. Another red flag is that you need to take it indefinitely and if you stop taking you rebound. EU needs to make this companies state-owned such that there is no incentive anymore to treat instead of cure

[@Max-ve5tu]

How is the Finland GDP and Nokia market value graph meant to show the detrimental effect of Nokia's collapse? From what I can see, the GDP of Finland rose the most after Nokia's collapse in the early 2000s.

[@TLDRbusiness]

Great question - it's because Nokia's massive spike in market cap around 2000 is more to do with the dot-com bubble, and its actual collapse as a company only happens around 2007, when it goes (on the graph) from about 50% of Finnish GDP to basically zero. As a company, Nokia peaked in 2006, when it accounted for 41% of the worldwide mobile phone market, and its actual sales (as opposed to market cap) relative to Finnish GDP peaked in 2007, when Nokia sales equalled about 30% of GDP (see here: www.researchgate.net/figure/a-shows-how-the-importance-of-Nokia-in-the-Finnish-economy-has-shifted-dramatically-in_fig2_345139957). Nonetheless, in retrospect, we can see how that graph might be confusing, and we probably should've fleshed this out in the vid - hope you still enjoyed it!

[@aaronhpa]

Therefore, valuation wasn't relevant. @@TLDRbusiness

[@notliquid1448]

​@@aaronhpaIt is relevant as Nokia's fundamental value plummeted after the iPhone's release.

[@sunnohh]

TLDR is usually pretty news brained and just parrots dumb shit

[@samiraperi467]

@@TLDRbusiness Market cap isn't a part of the economy, except when people trade shares. It has precisely zero bearing on the GDP. Seriously, learn at least the basics of economy.

[@egoruderico3038]

“If Denmark is not careful, it might end up like Finland”… seems pretty good to me 😂

[@RedSaint83]

@@YehWNoU I know poles has been the butt of a few jokes throughout time, but honestly, not a bad few decades to be Polish - unless you're a woman of course.

[@andreasottohansen7338]

This is a bit melodramatic. Finland suffered from Nokia's collapse, sure, but that was along with the Financial crisis, and with a very dramatic product switch than I doubt we can get out of the pharma business.

[@lucbloom]

If the USA bans the drug for whatever reason, it is even more dramatic product downfall.

[@777Mikos]

If anything, pharma is way more susceptible to a sudden developments and changes. The completion now knows what to look for and they just need a way around the patent to make a competing product, that always has a chance of being cheaper. Nordisk is essentially riding a wave of a single product, making it even more vulnerable than Nokia . That said, Danish economy "saved from stagnation" at 1% growth is an overstatement and it's dependency is nowhere near as significant atm

[@jonevansauthor]

You're also not addicted in any way to your choice of phone (cult of Apple notwithstanding). We are addicted to stuffing our fat mammal faces with food we don't need in case the next famine is coming. Hence wealth creating obesity and diabetes epidemics. You also don't change your drug prescriptions on a bi-annual basis like you do your phone, you change if/when your doctor prescribes something better.

[@jonevansauthor]

@@lucbloom I don't think that's likely, unless it also turns out to be great for transitioning or treating HIV.

[@HShango]

That company has done wonders for Denmark

[@WhichDoctor1]

there's a saying about eggs and baskets

[@3rdmm]

Rich country getting richer? No wonder at all...

[@niclasbrusch3355]

@@WhichDoctor1all eggs are not in the same basket though:)

[@Heptad]

am i the only one who saw this video in their recommends & immediately heard the "O-O-O-OZEMPIC" song from the commercial in their head

[@ninod1502]

Originally "magic" by scottish band Pilot

[@neilbucknell9564]

As the post below indicates, this really is over-hyped. Anyone managing a pension fund in the UK, never mind Denmark, will likely these days have diversified away from only investing in the domestic (much larger and more diversified) stock market. If there's any Danish investment managers only investing in Danish stocks they'd be downright negligent. And didn't Ben say it was only producing 1% of Denmark's GDP? A blip caused by the inflated value of this company's shares now, or by any future collapse in its value is unlikely to have any material long term effect on the country. Notwithstanding Nokia's eclipse, Finland still ranks 15th in the world for nominal GDP per capita, and 23rd adjusted for purchasing power parity. Not bad for a country in the far north, well away from the main commercial and industrial centres of Europe, with just 5.5m people.

[@JimBeansSaloonCream]

Ah but growth for growths sake is very hip and cool. Wanna be groovyest nation state on the un playground, you gotta be fat and greedy

[@patrickdegenaar9495]

£1000 per month??? Holy moly, wouldn't it be cheaper just to force march the population fir 2 hours per day???😂

[@pjacobsen1000]

That should tell you how much people are willing to pay to avoid exercise.

[@crazydinosaur8945]

the problem with it, is that the people who take it for diabetes 1 can't walk it away. they take it or die, so they cant rly say, naa to much i arnt gonna buy that

[@Ivanfpcs]

The good old tale of never putting all your eggs on the same basket

This is not really a case of that. It is more a case of one of the eggs in one of the baskets mutating and growing so large that it risks crushing all the other baskets.

[@nietur]

@ not crushing the other eggs but shrinking itself

[@cokezzz8249]

All successful countries have a comparative advantage.

[@edwardbernthal160]

@ smart people would buy another basket if that started happening.

[@RedSaint83]

We said smugly writing the comments in a Chromium browser. "We're smarter than that!"

[@JesPulido]

Inchulin. (Just teasing, much love, you guys rock)

[@HauntedXXXPancake]

I totally trust a video that forgets both that Maersk is also Danish and colour grading. ...

[@DrJohnCosgrove]

1. Semaglutide has its appetite suppressing effect centrally by acting on the brain 2. Wegovy costs less than £200 per month in the UK 3. Semaglutide is used in the treatment of diabetes mellitus and obesity. The brand Ozempic is licensed for use in diabetes. The brand Wegovy is licensed for weight loss treatment. Interesting to note your key point that Denmark as a country will have to plan for when semaglutide's patent expires, or if it falls out of favour.

[@royw-g3120]

Coming out with a generic protein drug is far more difficult and expensive than stuff you can synthesise chemically. I remember an insulin plant in Brazil took well over three years to come on line after it was built. It also explains why NN HAS not launched Wegovy in more countries, it is struggling to keep up with demand as it is.

[@Agtsmirnoff]

NHS only pays for Wegovy if you have diabetes or prediabetes. Almost all insurance in the US covers these drugs in patients with diabetes. It's the obese WITHOUT diabetes that are often left without coverage.

[@MrMegaGeoff]

I'm in the US and I was proscribed Wegovy in April. It's all but impossible to find. They still have a lot of room to expand even in this market

[@andersjjensen]

Novo Nordisk has one of the cleanest track records in the world when it comes to batch-recall, so they're not just going to crank up production and hope nothing bad happens. The production situation will not improve until more medical companies have gotten through licensing AND certification as Novo doesn't just give production companies the recipe and tell them where to send the money. Currently there are a number of other Danish medical companies who've cleared the hurdles and are in production, but none of them are big by international standards. But as soon as one of the US production juggernauts has run the hoops (which is traditionally a bit of a friction heavy process for Novo, as US companies don't like to be told what to do by anyone other than the FDA) and tooled up for large scale production the situation will probably improve.

[@DingleberryPie]

There's no way insulin is pronounced like that in Britain..

[@crazydinosaur8945]

its Britain. i say it agian we are talking about Britain....

[@colinharter4094]

the 40 billion dollar revenue that Novo Nordisk is making is roughly 10% of the GDP of Denmark. to put that into perspective that would be like if Apple was making 2.3 trillion dollars of revenue a year

[@The2wanderers]

Your graph actually shows Finland having massive economic growth, roughly doubling in size, AFTER Nokia's market cap collapsed. On the whole, the graph suggests that countries can get significant growth out of these wonder companies, and when their lifecycle winds up, maintain their new, beefed up, size.

[@RedSaint83]

This was a fine little thing except for all the details left out. Novo Nordisk isn't the only big company in Denmark. Mærsk, Lego, Vestas to name the biggest that spring to mind. I'd much rather see a video about the area around Novo Nordisk in Kalundborg: Kalundborg Eco-Industrial Park. 17 companies in symbiotic cooperation exchanging excess energy to each other. Kalundborg looks like the old Windows pipe screensaver or like the game Factorio because of this, it's a weird experience travelling through the city.

[@thephelddagrif2907]

Why are we comparing gdp and market value. Those are completely different measures

[@WilliamPeytz]

Very interesting

[@Agtsmirnoff]

By the way Amphetamines are still used in weight loss, Phentermine for example is an Amphetamine derivative.

[@aaronhpa]

Comparing GDP to Market valuation is dumb.

[@Marylandbrony]

That story about Finland and Nokia could be its own episode.

[@BenjixXxjineB]

Shuper inshtresting video

[@napoleonibonaparte7198]

The traditional "never put all your eggs into one basket" remains true.

[@crazydinosaur8945]

yea, if thye fail all denmark has left if the biggest maritime logistic company in the world (Maersk), the biggest wind turbine producer (Vestas), the biggest toy company (Lego). among many many other big and small companys that make denmark so versatile and diverse in its economy

[@GoodEveningDota]

I N S H I L I N

[@danellewilbraham]

These medications are for type 2 diabetic, overweight, or obese adults. There are 258 million American adults. 37 million are type 2 diabetics, some proportion of whom are not among the 69% who are overweight or obese. So, the market is large, but more like 200 million.

[@toniviskari417]

While I think there is value in pointing out the risk when a country becomes economically dependent on a single major company, I don't think the Nokia is a good example here, at least not in this sense. The financial challenges Finland is facing compared to the other Nordic countries is a constant topic here and here it is almost never connected to the collapse of that company, rather certain fundamental aspects of the Finnish economic structure. If anything, the Finnish market has always been more sensitive to changes in forest related markets than Nokia. However, I do think there is a much more interesting comparison between Noka and Novo Nordisk in that Nokia is an excellent example of the societal impact of a single company getting that big in a country as the power Nokia was able to wield on a political level in Finland for a decade was absurd. Especially because it all was built on this concept of an unspoken debt Nokia would have to the Finnish society which ended up meaning nothing at all.

[@saturday1066]

subscribed bc your commenters are smart af (like "emptywheel": a lot of value in posts but a LOT of value in comments)

[@MrJudgementday99]

It is licensed in the UAE and getting it is very hard. It is good stuff apartment to violent vomiting, helped no end with my diabetes

[@torbenlarsen331]

I really don't think that you can compare Nokia and Novo. Nokia started out making, toilet paper then rubber boots, tires and first in 66 began to work with electrical equipment and in the 90'es with mobile phones. Diversity can be good but in you want to be a number 1 specialist you need to focus on your task. Novo began 100 years ago with one main focus to make medicine for diabetics. That's still 70% of their business. One month ago the stopped the test program for a new kidney medicine, simply because the results were very positive. A non educated person earns 6.500 $ every month working 3 shift in a danish Novo factory. They have like all danish workers 6 weeks paid vacation every year.

[@mini_moemoe_cow1179]

Belgium recently banned ozempic for weight loss (except mortal obesitas)

[@jonnaughton]

Jack is looking at being the next Charles Foster Kane. “I think it would be fun to run a newspaper”.

[@commonsense31]

Ehh one small error! It has been added to the Danish system. I know multiple people who have already been prescribed it. Also the price they negotiated was also pretty good

[@JesPulido]

Just for some context, the majority of Americans with health insurance would pay about a $30-50/month copay for name-brand prescription drugs, and most insurance plans have an out-of-pocket maximum of like $3,000 or $6,000 per year. But again, each plan is different... I think only celebrities and the ultra rich would pay the full amount out of their own pockets.

[@nicholaslewis8594]

Wouldn’t it also depend on if your insurance plan actually will cover this drug (especially if you aren’t diabetic)?

[@JesPulido]

@@nicholaslewis8594Yes, drugs still require a prescription from a licensed physician.

[@benloconnor1990]

Sorry to be a grump but a market cap v GDP is a stock/flows fallacy which unhelpful.

[@giulioabbate4030]

Btw all interesting but comparing GDP with market cap is nonsense. GDP is a "flow" metric (how much a country earns/produces yearly) vs Market Cap is a "stock" (how worth is the company minus its debt).

[@Agtsmirnoff]

Exactly, GDP is akin to income whereas Market Cap is more like overall net worth

[@SuperCrabbycrab]

Difference with Nokia and Novo; is Novo have a much larger range of products, and products used in public healthcare. There are also big differences between Finland and Denmark. The Danish politicians are not increasing spending in the public sector- in fact, they are doing the opposite and rolling out tax deductions instead. In case of a Nokia-scenario the public sector is not relying on the additional funds. But I think comparing the two isn't comparing the same scenario. It's complex, but the Danish government are aware- and are not going out on spendingsprees.

[@crazydinosaur8945]

if there's one thing denmark know how to do, its keeping the budget in order. its slipped for finland that one time, and denmark aren't gonna make that same mistake

[@JohnGeorgeBauerBuis]

Perhaps Denmark will start to allow Ovalteen again (which was only banned due to issues with advertising, it’s not dangerous).

[@finncarlbomholtsrensen1188]

Also Danish Controlled Maersk had a yearly income close the the Danish National income! And I saw that even during High Covid19, the Danish economy steadily grew at a rate as usual.

[@eriksen6702]

Yes but those prices were also inflated. In the covid era a container could cost up to 150% of it's origin price to get shipped anywhere. So it was not because they were innovative, they simply just capitalized on demand.

[@agffans5725]

In Denmark we have seen an increasing government budget surplus. It went from a small $613 million budget deficit in 2020 (because of the covid-19 crisis) to a surprising $8.4 billion surplus in 2021 and a just as surprising $18.4 billion surplus in 2022. The full 2023 figures have not yet been released, but is shows a $9.9 billion budget surplus in the first 3 out of 4 quarters of 2023, despite a huge increase in military spending's and billions worth of military aid for Ukraine.

[@fjdkfdfjdf33]

I hear they are thinking to change the countries name to "NovoMark"

[@RedSaint83]

Denovo.. Wait a second..

[@sdewviljoen]

Same as UBS in Switzerland? Idea for a video...

[@khhnator]

mind you it was not the iphone that killed NOKIA, it was was microsoft backstabbing it

[@lukaszeppelin4971]

The reason Novo will not go bankrupt or go out of demand is due to them being a monopoly in the market for insulin. They spend massive amounts on research towards finding insulin derivatives, so that they can be patented in order to keep potential competitors out of the way thus keeping Novo #1. The comparison with Nokia, in my opinion, is a poor comparison since Nokia did not monopolize the market for phones. Furthermore, their downfall was mainly due to them being unwilling/too slow, to reinvent themselves towards a new and emerging market for touch-screen phones.

[@aaronfine734]

South sea bubble part 2

[@Agtsmirnoff]

4:05 You realize Novo Nordisk isn't making $935/$1,349 per patient per month/6weeks right? Insurance companies and Pharmacy Benefit Managers negotiate the cost down massively

[@jbarnard2000]

Nausea and vomiting are probably not the best side effects to have listed as nausea vomiting diarrhoea are side effects for almost every drug even those designed to treat these issues .

[@keldbrodthagen618]

Nausea and womitting are natural side effects of eating to much - if you are a person without an eating disorder.

[@damnkris]

By being nauseated and vomiting you won't eat as much food either, further reducing food intake/increasing weight loss. lol

[@jonevansauthor]

Fair but I suppose it depends on the percentage chance of that effect really. Just because three drugs share those side effects doesn't mean one of them won't make you puke every time :D

[@jonevansauthor]

Which is still better than a diabetic coma or obesity of course.

[@blake952]

the nausea and vomiting side effects are quite severe in this case though. I know some people that tried it (for T2DM) and they said it was unbearable and were vomiting up to 3 days after injecting.

[@galaxyw5545]

might as well just called it bean chilling

[@lawrencefrost9063]

7:30 LOL

[@briandempsey5749]

I have never heard of inshoolin - perhaps insulin?

[@000Dragon50000]

It's worth mentioning that Semaglutide... isn't actually effective longterm, most people going off it regain most of the weight lost.

[@gur262]

Makes perfect sense if you make no changes and eat the same trash but less. Worse if you don't change the ratio of fat carbs n protein but simply eat half the pizza you likely don't get enough protein and lose muscle even if you weren't exactly a gym person

[@KappaClaus]

A small correction. Ozempic is licensed by the state government system in Norway, but for diabetics and pre-diabetics, not for overweight patients. My father gets free Ozempic from the government, and it costs an astonishing 1200 dollars a month from the state healthcare system.

[@Rune__]

We thank you for your father’s contribution to the Danish economy 🇩🇰 You can afford it with your Oljefond 😘

[@christopherg2347]

So a large company is a bit like the "resource curse"?

[@LFPAnimations]

You are telling me Lego isn’t the biggest company in Denmark?

[@MithunOnTheNet]

4:03 - You could have told us the European prices for comparison. It would have been helpful to know by how much more, America's insurance-dictated healthcare system gouges Americans over medication costs.

[@Gwydda]

Didnt the say in the video that it hasn't really been licensed in Europe?

[@jbcube]

In Denmark the price is between 1320-2400kr (around 185-340 dollars) for 4 weeks treatment.

[@MithunOnTheNet]

@@jbcube What a difference! Just proves how much the "wonderful" (according the Right) healthcare system of the US price gouges patients! And right wing morons brand Western Europe's healthcare system as "socialism" while bleeding their savings just to stay alive!

[@yinkajpsp]

Great video

[@streamdungeon5166]

It's weird when somebody tries to explain biochemistry who cannot pronounce insulin (not "inshulin"). Is that a local strange dialect or something?

[@presmadagascar]

be careful not to end up like one of the most stable countries on the planet which consistently tops indices for happiness and quality of life

[@crazydinosaur8945]

yea, denmark was there before finland take the place, mayby this is the time we take the tittle back!

[@lufax]

This is the most curious "Insulin" pronunciation I've ever heard 😂 Inch-oo-lin

[@escape209]

ESLs when different accents exist

[@abdaf8706]

Novartis Telbivudine Sebivo was my friend back then

[@kena9360]

Was interested to watch but cannot make it past 1 minute. Comparing a stock variable (eg equity market cap) to a flow variable (GDP) signals “I don’t know what I’m doing” :(

[@eastern2western]

All diet drugs tend to be wonder drugs at first, but all of the patients tend to have massive side effects afterward, and the law suits follow.

[@andersjjensen]

But this drug has been on the market since 2017 and is sold in 10 countries. All of which are capital strong developed nations. It's not until recently that it's been allowed to prescribe the drug for weight loss, despite that always being a side effect (which is good, as most Type-2 diabetics are overweight), but the drug itself is fairly well known after 6 years of mass deployment.

[@BizzeeB]

No one. Literally no one: "Inshulin". Except this guy.

[@the_rzh]

The risk in the US is legal liability. It is a young drug but there are lawsuits being prepared over long term side effects customers were not warned of.

[@gaarakabuto1]

Novo norsk is in a much more stable market than Nokia was and Nokia's crush was at a time when a crush was more possible than ever instead of a steady and calculated decline. Now it's 2023 and covid is over (the equivalent of the early 00s quicksand were things could simply crush) and Novo norsk has utilised their growth from the insuline drugs to stabilise other fields they cover, even at the extreme scenario that their two drugs get banned they have secured a safety net for the company to stay at a sustainable level.

[@jakobraahauge7299]

Novo Norsk - that's a really nice typo, as Norsk means Norwegian in Danish 😆👍 Norway btw is the rich uncle of Scandinavia.. not us! Lots of love from Denmark

[@yveeriksson7437]

@@jakobraahauge7299 Norway would be the poor uncle if they didn't have their oil assets. No inventions from Norway. No, salmon is not an invention 😂

[@jakobraahauge7299]

@@yveeriksson7437 the make the most comfy hightech chairs - like sci-fi chairs! Not pretty, but darn comfy!

[@slavecek]

@@yveeriksson7437 My Norwegian course on Duolingo tells me that the paper clip is, in fact, an invention from Norway. 😄Admittedly, not a product with a huge potential to make a country rich, so I guess it's a good thing they do have their oil assets to fall back on...

[@AdmiralBison]

A solution is to Nationalize the company. Public ownership where it is controlled by the people, not 1% shareholders.

[@StatedByTony]

Actually the two new drugs are the exact same, just approved for two different use-cases as you cannot re-approve one that is already approved and use the same brand. That said, I think you underestimate the national bank of Denmark. I give it 0% risk of breaking the Danish economy😂 Click bait title. Don't believe me? Think fond as seen in Norway.

[@bertibear1300]

What about the side effects problems?

[@jontalbot1]

Interesting content for a non Dane and, unusually, interesting and well informed comments/ discussion

[@ancientswordrage]

I realise this is only a business channel, I'm very disappointed by the way you discussed the 'obesity epidemic' and didn't make more note on the massive downsides and negatives of those drugs.

[@keldbrodthagen618]

Click bait didn’t expect that from TLDR

[@user-dq1hq4of6o]

Novo has a big market in US, because US have so many overweighted peoble. Wise strategic

[@arturovillalobos336]

Diabetics do produce insulin, however, their blood cells cannot react to it (As it would be a key that cannot open anymore the lock).

[@knpark2025]

Denmark, I diagnose you with Samsung Syndrome.

[@safakbehlul8660]

I'm just waiting for the mass availability of Wagovy all around the world.

[@pedrocurtes8480]

True that Type 1 diabetics don’t produce Insulin, and need exogenous insulin. But Type 2 diabetics will often produce too much insulin, this because they have a modern diet of excess carbs often found in processed foods that causes insulin resistance. Type 2 diabetes can be reversed with a change to a LCHF diet lifestyle add to this a suitable intermittent fasting regime. The bonus is no expensive lifetime drugs are required. All drugs have undesirable side effects, of which some could be life threatening.

[@Agtsmirnoff]

What is your point?

[@alinbejinaru1755]

​@@AgtsmirnoffHis point is that it much more cheaper to solve the cause not the effect of a problem in this case Type 2 Diabetics is an effect and the cause is Ultra processed food and the insane amount of sugars we find in food today.

[@pedrocurtes8480]

@@Agtsmirnoff That the article is completely inaccurate when referring to T2D having low insulin levels? So should the rest of the article be trusted? Are they just shills for Big Pharma?

[@henrylikemessi]

why does he say insulin like bing chilling

[@shayneweyker]

Why is contrast so low and black levels so high on the video of the person speaking to camera?

[@cinemaipswich4636]

In Australia it can cost $900 per month. Not cheap. GPs cannot prescribe it for weight loss.

[@blake952]

They can, theyre not supposed to as its not covered by the PBS as weight loss treatment. I have some GP friends and they have colleagues that prescirbe it to anyone that asks for it. lots of people that want it will just shop around for a dodgy enough GP that will do it.

[@wihenao]

What happened to maersk

[@AdmiralBison]

Not good when a handful of corporations represents the majority of a country's economy. The 1% shareholder's concentrated wealth, power....and bribery/corruption is detrimental to society.

[@gorgigorgiev7746]

what's with the inchulin?!

[@thiagoleobons390]

sounds like Nokia did great for Finland by the own graph in the video. just compare to 2002 instead of 2008

[@aintnoboulder]

bro i am begging please turn down the contrast on clips with you in it. i'm pastier than a marshmallow but you make me look like a beach bum 😂

[@JohnNadcin]

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

[@PeruWilliams]

Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.

[@maavet2351]

I think this is a much better use of your business channel, talking about inventions, you should make a medical news channel as well

[@markarca6360]

Orlistat: Am I a joke to you?

[@Agtsmirnoff]

1) Doesn't work 2) Makes you literally leak out grease from your ass!

[@reelenz]

Semi-Glutide has been known about for 20+ years. Not 2021.

[@twotwinglocks609]

One thing worth adding to this discussion is that the danish government pays a percentage of the cost, of the medicine, if you BMI is above a certain threshold. This increases waiting time for blood tests and other public service stuff in regards to health

[@anathardayaldar]

tldr: Putting all their eggs in one company.

[@fourdegreesc]

I don't know a single person paying the rates for semaglutide as stated in this video (in the USA). Caveat Emptor I suppose.... My friends and I are paying $300 a month, cash, no insurance.

[@izack367]

"inchulin" say it all together "inchulin"