In Kalundborg, a small town on Denmark's coast, the rise of one of Europe's largest pharmaceutical companies is not only celebrated but also lamented. Novo Nordisk, world-renowned for its diabetes and weight-loss drugs like Ozempic and Wegovy, has undergone an expansion here that almost seems textbook for economic growth. But the unprecedented success has a downside: small entrepreneurs like Brian Larsen are fighting for survival.

Larsen once ran a thriving car workshop in close proximity to Novo's production hub. But the business turned into a nightmare. Employees flocked to Novo in droves, attracted by 20% higher salaries and better working conditions. "At some point, I didn't want to fight anymore. It was only about finding staff," Larsen explains frustratedly. Now a service provider working for Novo has taken over the workshop.

A Blessing and a Curse for the Economy

Novo Nordisk is now Europe's most valuable company.

It is great to have a strong company, but at the same time, it creates a dangerous dependency," warns Christin Tuxen from Danske Bank. Smaller companies report delayed construction projects, relocate production facilities abroad, or close down entirely. Frank Poulsen, CEO of Simatek, recently moved his production to Poland and the Baltics: "Competing against Novo's salaries was simply impossible.

From Craftsmen to Doctors: The Domino Effect

New gigantic investments, including an 8-billion-dollar expansion in Kalundborg, attract massive flows of personnel. The construction industry is particularly affected. According to Morten Frihagen, chairman of Dansk Haandvaerk, electricians, installers, and carpenters are now going to Novo or its suppliers. The result: Many smaller businesses have to turn down orders.

But the shortage of personnel goes even further.

Good Mood at Novo – Trouble Elsewhere

The success of Novo is hard to overlook. The attractive salaries, bonus models, and excellent career prospects attract talent from across the country. Helene Rafn from the union Djof emphasizes: "There is a positive mood around Novo. Many are drawn to the mission of helping people with chronic diseases.

But other industries suffer. Companies increasingly need to consider better conditions, remote work, and training to keep up. At the same time, Denmark's strict immigration policy is reaching its limits. The government has indeed facilitated access to foreign specialists, but the political balancing act between economic needs and social concerns remains delicate.

The country is becoming richer – but at what cost?

Mayor of Kalundborg, Martin Damm, sees the positive aspects of development: New houses are being built, roads modernized, and international students educated. But even the city administration has lost employees to Novo.

For many watching from the sidelines, it is clear: The rapid growth of Novo Nordisk is a double-edged sword. While the pharmaceutical giant makes the Danish economy flourish, it unequivocally shows how fragile an economy can become when a single company dominates.

For Brian Larsen and many others, the question remains: How far can the rise of a giant go before it erodes the foundation on which it stands?