Danish business, with pharmaceutical flagship Novo Nordisk at the forefront, is winning big on a dramatic rise in the US dollar exchange rate.
This year alone, the US dollar has increased in value by nearly 10 percent compared to the Danish krone, and many of the leading companies in Denmark have benefitted from this change.
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In 2015, Genmab partnered with relatively unknown biotech firm Biontech. Reflecting on how far Genmab has come since, CEO Jan van de Winkel is still confident that partnerships, rather than acquisitions, are the way forward. If it had acquired Biontech at the time, the CEO speculates Genmab may have put a stop to other activities – including the Covid-19 vaccine efforts that went on to save millions of lives. This and fairness are worth remembering as biotech firms are increasingly strapped for cash, van de Winkel reflects.