Danish pharmaceutical giant Novo Nordisk has overtaken French conglomerate LVMH, the world’s biggest luxury retailer and owner of Louis Vuitton and Dior fashion brands, to become the EU’s most valuable company, trading data shows
The healthcare company’s shares surged 2.14% on Friday, bringing the company’s market capitalization to roughly $424.7 billion.
LVMH, Europe’s most prominent listed firm since February 2021, saw shares drop by 0.8% on Friday and 14.2% from their all-time high in April.
The company was valued at $420.1 billion as of Friday’s close.
