[Featured Stock] NanoEntek Gains Attention as OEM Partner for Thermo Fisher, New Supplier to Europe's Largest Market Cap Company Novo

NanoEntek is showing strong performance. This is interpreted as highlighting its supply of consumables to Thermo Fisher, a new contract development and manufacturing organization (CDMO) company of Novo Nordisk, the developer of the globally popular obesity treatment drug 'Wegovy.'

As of 1:51 PM on the 5th, NanoEntek is trading at 4,455 KRW, up 4.33% from the previous day.

According to the industry, Novo Nordisk has been producing Wegovy through Patheon, Thermo Fisher's CDMO subsidiary, since April. Novo Nordisk had been producing Wegovy only through the CDMO company Catalent, but in 2021, process issues at Catalent's production facility caused disruptions in Wegovy production.

Despite the supply shortage, Novo Nordisk's Wegovy sales are showing a rapid increase. Wegovy's sales in the second quarter of this year were $1.1 billion (approximately 1.5 trillion KRW), a 550% increase compared to the same period last year. Novo Nordisk expects Wegovy's annual sales to reach $4.2 billion (approximately 5.6 trillion KRW) this year. Wegovy has gained worldwide fame and rapidly increased demand as it is used by Tesla CEO Elon Musk and model and actress Kim Kardashian.

As a result, Novo Nordisk surpassed luxury group Louis Vuitton Mo?t Hennessy (LVMH) to become the number one company by market capitalization on the European stock market. On the 4th (local time), Novo Nordisk's stock, listed on the Danish stock exchange, closed at 1,310.80 kroner, up 0.74% from the previous session. Its market capitalization reached $428 billion (approximately 565 trillion KRW) on that day, marking the first time it ranked first in market capitalization on the European stock market based on closing price.

Meanwhile, NanoEntek is a company that manufactures and sells point-of-care testing (POCT) medical devices and biotechnology research equipment based on lab-on-a-chip technology. It has partnerships with U.S. companies Thermo Fisher and PerkinElmer in the biotechnology field and supplies biotechnology research equipment products through OEM and ODM methods. In 2009, it signed a contract to sell two patents related to gene delivery devices to Thermo Fisher for $13 million and established an exclusive supply contract for devices and consumables.