U.S. demand for Novo Nordisk’s weight loss drugs is so huge that the Danish central bank just doubled the nation’s entire growth forecast

Weight loss drugs are changing the economic picture from many angles.

In addition to reshaping the healthcare, retail, and leisure industries, employers—including Bank of America—are now offering access to the medication as part of their healthcare benefits.

In fact, the impact of GLP-1s has become so huge that it is influencing the forecast for the entire Danish economy, which is home to pharmaceutical giant Novo Nordisk: the company behind Ozempic and Wegovy.

In a special report, the Danmarks Nationalbank (Denmark’s central bank), noted the country’s pharmaceutical industry saw “extraordinary” growth in the first half of 2026, with an increasing share of production taking place abroad under Danish ownership.

The report, released today, adds: “The growth is mainly due to Novo’s sales and production in the U.S. market at the beginning of this year.

This reflects Novo’s agreement with the U.S. administration, which, from the turn of the year, has, among other things, provided access to a larger patient base through public health insurance schemes.” Novo is best known for its obesity and diabetes drugs, but also develops haemophilia (blood clotting) medications and hormone replacement therapies.

However, the report clarifies that the agreement with the U.S. government focuses on weight loss and diabetes medications.

The White House announced last year that it had secured ‘advanced most-favored nation’ pricing from Novo, meaning lower prices for Medicare patients and TrumpRx customers.

A month later, the U.S.

Food and Drug Administration (FDA) approved Novo’s Wegovy pill, the first of its kind to receive the regulator’s stamp of approval.

The scope of Novo’s growth is now so huge it has allowed the Nationalbank to reexamine its growth estimates for the entire economy.

Back in March, the central bank forecast growth of 1.8% in 2026 and 2027, and 2% in 2028.

The pharmaceutical sector wasn’t referenced in the update.

In its update this week, the Nationalbank shared growth forecasts of 4% this year, 2.3% in 2027, and 2% in 2028.