Novo Nordisk
How a century-old insulin company accidentally discovered its diabetes drug made patients lose weight and unlocked the obesity market.
Novo Nordisk spent nearly two centuries perfecting insulin. They owned the science, the relationships with doctors, and the manufacturing expertise. Then in the nineteen nineties, their scientists discovered semaglutide could treat diabetes. And then something stranger happened. Patients started losing fifteen to twenty percent of body weight. Not a side effect. A feature. The discovery had stumbled into the intersection of two massive markets that nobody realized were connected. A century-old company suddenly held the key to the biggest pharmaceutical opportunity of the generation. Novo Nordisk hadn't disrupted the market. It had inherited it. They branded the molecule twice. Ozempic for diabetes. Wegovy for weight loss.
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