Denmark’s economic system returned to development within the second quarter as drugmakers raised their output, illustrating the Scandinavian nation’s dependence on its pharmaceutical business.
Gross home product rose 0.6% from the earlier three months, Statistics Denmark stated on Tuesday in a preliminary studying. The enlargement was pushed by drug corporations which additionally drove a 1% contraction within the earlier quarter.
Denmark’s flourishing drugmaking business, principally identified for Novo Nordisk’s common weight-loss medication and Bavarian Nordic A/S’s mpox vaccine, is a vital development driver the Nordic nation. It was liable for half of the economic system’s enlargement final yr when Denmark was one of many quickest rising in western Europe.
Pharmaceutical corporations play a “disproportionately giant function” within the Danish industrial manufacturing, inflicting “giant fluctuations” in nationwide GDP figures from quarter to quarter, Palle Sorensen, chief analyst at Nykredit, stated in a observe.
Manufacturing by Danish drugmakers rose 8.5% over the quarter, in accordance with knowledge launched earlier this month, following a big drop the earlier quarter.
