Denmark: the pearl of the world's life sciences community, not just Novo Nordisk and Semaglutide

Denmark: the pearl of the world's life sciences community, not just Novo Nordisk and Semaglutide

Danish pharmaceutical industry, the pearl of global biopharmaceuticals

The latest data released by Statistics Denmark shows that Denmark's gross domestic product (GDP) achieved a 2% growth in the fourth quarter of 2023. Throughout 2023, Denmark's economic growth rate is 1.8%, but if the impact of the pharmaceutical industry is excluded, this figure will decrease to -0.1%.

Last year, the pharmaceutical industry led by Novo Nordisk contributed nearly half of the economic growth, demonstrating its position in the Danish national economy. According to data from the Danish National Bureau of Statistics, in 2023, the pharmaceutical industry will account for 6.7% of GDP, the financial services industry will account for 5.4%, and the construction industry will account for 5.1%. As pharmaceutical companies continue to expand their production capacity, it is expected that the industry will continue to maintain stable growth in 2024.

Denmark's leading position in the field of life sciences has been widely recognized: in 2019, Denmark was named the best country for biotechnology research and development in Europe by Nordic Life Sciences News. In 2021, according to Bloomberg Innovation Index, Denmark is one of the countries with the highest R&D investment in the world and ranks among the top in Europe in terms of research personnel concentration. Denmark is also one of the countries with the highest number of clinical trials per capita in the world (clinicaltrials. gov).

Weight loss metabolism king, Novo Nordisk from Denmark

Diabetes and obesity have long become global phenomena, while Novo Nordisk, which has developed Smeaglutide, originated in Denmark. These drugs have won the favor of the wealthy and celebrities, creating billions of dollars in sales and opening up a new market for weight loss drugs. Goldman Sachs analysts estimate that by 2030, the annual sales of the weight loss market will reach $100 billion.

From 2021 to 2023, Novo Nordisk has consolidated its position as the fastest-growing large pharmaceutical company, with a year-on-year growth rate of 35% in 2023 and a growth rate of 74% in US dollars from 2020 to 2023. The strong demand for Simeglutide's products has driven the company's rapid growth. Novo Nordisk has been the most valuable company in Denmark since 2008, and in 2023 it surpassed the French luxury goods group LVMH to become the most valuable company in Europe.

Danish drugs enter China and cooperation with China deepens day by day

In June 2012, the China Denmark Pharmaceutical Working Group was officially established within the framework of the Joint Economic and Trade Commission between the two countries. The Chinese lead unit is the China Chamber of Commerce for Import and Export of Medicines and Health Products, and the Danish lead unit is the Danish Embassy in China. Both sides have carried out a series of work in areas such as policy exchange, regulatory access, information sharing, group communication, exhibition and project implementation.

From January to August this year, the bilateral trade volume reached 3.48 billion US dollars, an increase of 55.4% year-on-year. The two countries have been very active in cooperation in areas such as pharmaceutical investment, technology transfer, and joint research and development. The China Denmark Joint Economic and Trade Commission held in April this year agreed to continue strengthening cooperation in the pharmaceutical field.

In September, Wang Yi, member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister, met with Danish Foreign Minister Rasmussen during the United Nations General Assembly in New York. Wang Yi stated that Denmark is China's only comprehensive strategic partner in the Nordic region. Next year marks the 75th anniversary of the establishment of diplomatic relations between China and Denmark, and both sides should take this opportunity to promote the development of bilateral relations. China has decided to implement visa free access for Denmark and welcomes more Danish friends to visit China. At the same time, we hope that Denmark will provide more convenience for Chinese citizens to travel to Denmark. On January 2nd, China issued a "Notice on Pilot Visa Exemption for Nine Countries Including Denmark".

he Embassy of the Kingdom of Denmark in China stated that Danish companies are committed to working closely with Chinese healthcare professionals, regulatory agencies, and other stakeholders to tailor solutions based on the specific needs of the Chinese market. This collaborative approach ensures that its innovative products meet and exceed the expectations of the Chinese healthcare system. This strategic partnership reflects the strong relationship between Denmark and China based on mutual respect and a shared commitment to improving health outcomes, "said Danish Ambassador to China, Kong Moke, who recently arrived in Beijing from France.