Investors destroyed Novo Nordisk – the company still remained the largest in Europe by market value

Danish the pharmaceutical company Novo Nordisk is still the largest company in Europe by market value, even though its stock fell exceptionally low on Friday last week.

The company’s share value fell by more than 20 percent and the market value shrank by more than 90 billion euros. On Monday, the stock rose almost six percent.

The significant decrease in the price of the stock was due to the fact that the Cagrisema slimming drug under development did not promote weight loss in studies as much as had been predicted.

In studies, the patients’ weight was reduced by an average of 22.7 percent over the course of 68 weeks, although it was predicted to reduce the weight by 25 percent. The company found the research results encouraging, but investors disagreed.

Market value is calculated by multiplying the share price by the number of shares. Despite the significant decrease in the price of the stock, Novo Nordisk’s market value is still 350 billion euros.

The second is the French luxury goods manufacturer Moët Hennessy Louis Vuitton (LVMH), whose market value is 315 billion euros.

Third is the German software company SAP. Its market value is 276 billion euros.

World however, the largest companies by market value are from the United States.

The market value of Apple, which manufactures phones and computers, is EUR 3,700 billion, semiconductor company Nvidia EUR 3,300 billion, and software company Microsoft EUR 3,100.