Novo Nordisk Is Europe’s Biggest Company, Wegovy Helps. Eli Lilly Could Benefit.

The maker of weight-loss drug Wegovy closed as Europe’s most valuable company on Monday, drawing attention to the potential of pills that can fulfill the age-old desire to effortlessly make people slimmer.

Novo Nordisk (ticker: NVO) closed 0.7% higher in Denmark, boosted by the launch of Wegovy in the U.K., to overtake French luxury goods maker LVMH as the firm with the biggest market capitalization in Europe. Shares of the pharmaceutical company have added 41% this year and were heading higher in early trading Tuesday.

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