Pharmaceutical industry Software company SAP now the most valuable company in Europe
The German software company SAP has replaced the Danish pharmaceutical giant Novo Nordisk as the most valuable company in Europe. The technology group is now worth 314 billion euros on the stock market again, while Novo Nordisk is worth around 310 billion.
24.03.2025, 11:17
SDA
SAP shares have recently extended their recovery and have therefore moved to the top spot in terms of market capitalization in Europe. The Walldorf-based company is also benefiting from the weakness of the previous leader Novo Nordisk, which has persisted since mid-2024.
Company benefits from cloud strategy and AI boom
SAP shares have long benefited from the Group's cloud strategy, i.e. the shift in the business model from the traditional sale of software licenses to a type of cloud-based rental. Added to this is the boom in artificial intelligence.
Novo Nordisk shares, on the other hand, have lost around half their value since their record high last June. A good part of the share price rally driven by the business success of GLP-1 weight loss medication has therefore been lost. More and more competitors want to profit from the boom with the weight loss injection. In addition, Novo's study data on a planned weight loss drug also failed to meet expectations, some of which were very high.
US companies dominate worldwide
US companies dominate the global stock market rankings unchallenged. According to a 2024 study by auditing and consulting firm EY, 62 of the 100 most expensive companies in the world are based in the USA.
