Has the Danish Healthcare Sector valuation changed over the past few years?

Investors are pessimistic on the Danish Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically. The industry is trading at a PE ratio of 11.6x which is lower than its 3-year average PE of 29.5x. The 3-year average PS ratio of 8.5x is higher than the industry's current PS ratio of 3.6x.

Which industries have driven the changes within the Danish Healthcare sector?

Investors are most optimistic about the Medical Equipment industry, which is trading close to its 3-year average PE ratio of 33.0x. Analysts are expecting annual earnings growth of 20.1%, which is higher than its past year's earnings growth of 0.3% per year.

Danish (OMX) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 22 Jun 2026	DKK 1.7t	DKK 469.0b	DKK 147.1b	19.6x	11.6x	3.6x
Wed, 20 May 2026	DKK 1.7t	DKK 468.7b	DKK 147.0b	20.2x	11.5x	3.6x
Fri, 17 Apr 2026	DKK 1.6t	DKK 447.1b	DKK 129.9b	19x	12x	3.5x
Sun, 15 Mar 2026	DKK 1.5t	DKK 448.1b	DKK 130.1b	16.8x	11.6x	3.4x
Tue, 10 Feb 2026	DKK 1.8t	DKK 448.0b	DKK 134.8b	16.3x	13.6x	4.1x
Thu, 08 Jan 2026	DKK 2.1t	DKK 453.9b	DKK 136.9b	17.6x	15.6x	4.7x
Sat, 06 Dec 2025	DKK 1.9t	DKK 454.0b	DKK 137.0b	17.3x	13.8x	4.1x
Mon, 03 Nov 2025	DKK 1.9t	DKK 448.0b	DKK 141.9b	17.2x	13.4x	4.3x
Wed, 01 Oct 2025	DKK 2.0t	DKK 447.3b	DKK 141.7b	17.6x	14.2x	4.5x
Fri, 29 Aug 2025	DKK 2.1t	DKK 447.4b	DKK 141.7b	24.5x	14.6x	4.6x
Sun, 27 Jul 2025	DKK 2.5t	DKK 423.1b	DKK 124.5b	30.1x	19.9x	5.9x
Tue, 24 Jun 2025	DKK 2.5t	DKK 423.4b	DKK 124.6b	30.4x	19.7x	5.8x
Thu, 22 May 2025	DKK 2.5t	DKK 424.3b	DKK 125.1b	24.1x	19.9x	5.9x
Sat, 19 Apr 2025	DKK 2.3t	DKK 409.2b	DKK 121.3b	21.8x	19.1x	5.7x
Mon, 17 Mar 2025	DKK 2.8t	DKK 409.5b	DKK 121.3b	24.9x	23.5x	7x
Wed, 12 Feb 2025	DKK 3.2t	DKK 408.3b	DKK 118.3b	28.1x	27.1x	7.8x
Fri, 10 Jan 2025	DKK 3.4t	DKK 387.5b	DKK 111.3b	30.3x	30.1x	8.6x
Sun, 08 Dec 2024	DKK 4.0t	DKK 387.3b	DKK 111.3b	31.3x	36.3x	10.4x
Tue, 05 Nov 2024	DKK 3.9t	DKK 372.2b	DKK 107.2b	33.2x	36.5x	10.5x
Thu, 03 Oct 2024	DKK 4.1t	DKK 372.0b	DKK 107.1b	36.3x	38.4x	11.1x
Sat, 31 Aug 2024	DKK 4.8t	DKK 371.8b	DKK 107.1b	35.5x	44.7x	12.9x
Mon, 29 Jul 2024	DKK 4.5t	DKK 355.4b	DKK 106.3b	35.9x	42.1x	12.6x
Wed, 26 Jun 2024	DKK 5.1t	DKK 355.3b	DKK 106.2b	34.3x	48.3x	14.5x
Fri, 24 May 2024	DKK 4.7t	DKK 355.3b	DKK 106.2b	37.6x	44.6x	13.3x
Sun, 21 Apr 2024	DKK 4.4t	DKK 341.3b	DKK 99.6b	33.3x	44.5x	13x
Tue, 19 Mar 2024	DKK 4.7t	DKK 341.2b	DKK 99.6b	39.2x	46.9x	13.7x
Thu, 15 Feb 2024	DKK 4.3t	DKK 340.5b	DKK 98.6b	34.9x	44x	12.7x
Sat, 13 Jan 2024	DKK 3.8t	DKK 320.5b	DKK 90.0b	33.5x	42x	11.8x
Mon, 11 Dec 2023	DKK 3.5t	DKK 320.6b	DKK 90.0b	33.8x	38.9x	10.9x
Wed, 08 Nov 2023	DKK 3.6t	DKK 318.7b	DKK 90.3b	29.3x	40.2x	11.4x
Fri, 06 Oct 2023	DKK 3.3t	DKK 305.5b	DKK 82.2b	32.7x	40.7x	11x
Sun, 03 Sep 2023	DKK 3.5t	DKK 305.4b	DKK 82.2b	36.7x	42x	11.3x
Tue, 01 Aug 2023	DKK 3.0t	DKK 287.2b	DKK 75.5b	37.6x	39.7x	10.4x
Thu, 29 Jun 2023	DKK 2.9t	DKK 287.1b	DKK 75.5b	39.1x	38.3x	10.1x


DK Market	0.48%
Healthcare	1.56%
Pharma	1.94%
Biotech	0.75%
Healthtech	-0.097%
Medical Equipment	-0.58%
Healthcare Services	-2.47%
Life Sciences	-3.06%

Company	Last Price	7D	1Y	Valuation
NOVO B Novo Nordisk	DKK 292.95	2.0% +DKK 25.2b	-38.4%	PE10.6x
GMAB Genmab	DKK 1.64k	1.3% +DKK 1.3b	19.1%	PE18.8x
CHEMM ChemoMetec	DKK 378.00	0.9% +DKK 59.2m	-27.5%	PE37.2x
MONSO Monsenso	DKK 0.47	43.6% +DKK 13.8m	79.5%	PS5.1x
BIOPOR BioPorto	DKK 1.17	1.7% +DKK 9.9m	-15.5%	PS14.4x

Announcement • Jun 18

ALK Receives UK Approval For EURneffy 1 Mg As The First And Only Needle-Free Adrenaline Treatment For Young Children At Risk Of Anaphylaxis

ALK announced that the Medicines and Healthcare products Regulatory Agency (MHRA) has granted marketing authorisation for EURneffy 1 mg, the first and only needle-free adrenaline treatment for anaphylaxis for children aged 4 and older living with severe allergies in the UK – extending a class of treatment previously available only by injection. EURneffy 1 mg is now indicated in the UK for the emergency treatment of severe allergic reactions (anaphylaxis) due to insect stings or bites, foods, medicinal products and other allergens, as well as idiopathic or exercise-induced anaphylaxis in children aged 4 years and over weighing 15 kg to less than 30 kg. This approval follows the existing UK marketing authorisation for EURneffy 2 mg, previously approved by the MHRA for the emergency treatment of anaphylaxis in adults and children weighing =30 kg. This approval means more people with severe allergies, including children aged 4 years and older who weigh 15 kg to less than 30 kg, will be eligible for treatment with EURneffy, the only needle-free adrenaline-based product currently approved in the UK. EURneffy provides rapid absorption of adrenaline within minutes of administration. EURneffy has an established safety profile, based on clinical data from the EURneffy development programme involving over 700 participants. The most common adverse reactions in subjects weighing 15 kg to less than 30 kg treated with EURneffy 1 mg included: nasal congestion (19.0%), upper respiratory tract congestion (14.3%), dry throat, nasal dryness, and paraesthesia (each 9.5%). There were no clinically relevant differences in the safety between the paediatric and adult populations treated with EURneffy. EURneffy 2 mg performed as well as traditional adrenaline auto-injectors or intramuscular adrenaline across a range of real-world scenarios examining the clinical pharmacological effect including single and repeat doses, self-administration, and situations with nasal congestion from allergies. EURneffy 1 mg dose demonstrated a comparable absorption and pharmacodynamic effect in children (15-30 kg) as the 2 mg dose in children and adults above 30 kg. EURneffy is the first and only needle-free adrenaline-based product approved for the emergency treatment of anaphylaxis in adults and children. EURneffy is well absorbed through the nose and distributed quickly into body tissues, offering a portable, pocket-sized alternative to injectable forms of adrenaline for treating severe allergic reactions. EURneffy has a total shelf life of 30 months (2 mg) and 24 months (1 mg), no special storage requirements and freezing does not affect its shelf life. Upon activation, EURneffy nasal spray delivers a full, single dose of adrenaline, without the need for priming. It is recommended that two EURneffy devices are carried to treat a potentially life-threatening emergency in case a second dose is required. In the UK and European Union, EURneffy 2 mg is approved for the emergency treatment of anaphylaxis in adults and children who weigh = 30kg, and EURneffy 1 mg is approved for the emergency treatment of anaphylaxis in children aged 4 and older who weigh from 15 kg to less than 30 kg. In the United States, Japan, China, Australia and Canada EURneffy 2 mg is approved under the brand name neffy 2 mg. In the US and Australia, neffy 1 mg has also been approved for children who weigh 15–30 kg (with an age restriction of 4 years and older in Australia) and in Japan, neffy 1 mg and 2 mg are approved for the emergency treatment of severe allergic reactions (anaphylaxis) in adults and children who weigh =15 kg.

Announcement • Jun 15

Genmab Announces Epcoritamab Monotherapy And Epcoritamab-Based Combination Regimens Demonstrate High Response Rates In Elderly Patients With Newly Diagnosed Diffuse Large B-Cell Lymphoma

Genmab A/S announced new data from two studies evaluating epcoritamab, a T-cell engaging antibody administered subcutaneously, in the first-line treatment of patients with diffuse large B-cell lymphoma (DLBCL) who may have limited treatment options due to advanced age or multiple health conditions. Results from the Phase 2 EPCORE DLBCL-3 study showed an overall response rate (ORR) of 67% and a complete response (CR) rate of 58% with epcoritamab monotherapy in elderly patients with newly diagnosed DLBCL. In the Phase 1b/2 EPCORE NHL-2 study, epcoritamab plus rituximab plus dose-attenuated cyclophosphamide, doxorubicin, vincristine, and prednisone (R-mini-CHOP) demonstrated an ORR of 93% and a CR rate of 86% in elderly patients with newly diagnosed DLBCL. The results from both studies were presented in two poster presentations (abstracts PS2082 and PF1007) at the European Hematology Association (EHA) 2026 Congress held in Stockholm, Sweden, June 11-14. Additionally, the full EPCORE DLBCL-3 results have been simultaneously published in The Lancet Haematology. The Phase 2 EPCORE DLBCL-3 study (abstract PS2082) evaluated the efficacy and safety of fixed-duration epcoritamab monotherapy in newly diagnosed CD20+ large B-cell lymphoma (LBCL) patients ineligible for anthracycline-based chemotherapy due to age (=80 years) or comorbidities (=75 years with comorbidities). Among 66 enrolled patients, the median age was 82.5 years, and all had comorbid conditions (94% with =3 comorbidities). With a median follow-up of 21.9 months, epcoritamab monotherapy demonstrated responses in this population with high unmet medical need. An ORR of 67% and a CR rate of 58% were observed in evaluable patients (n=66). Median time to response was 1.5 months, and median time to CR was 2.2 months. Notably, 11 of 17 patients with a partial response or stable disease at first assessment subsequently achieved a CR. Responses were durable, with median duration of response (DOR) and duration of complete response (DOCR) not reached. At 12 months, an estimated 67% of responses and 73% of CRs remained ongoing. Median progression-free survival (PFS) was 13.0 months, while median overall survival (OS) was not reached; an estimated 43% of patients remained progression-free and 62% were alive at 18 months. High rates of minimal residual disease (MRD) negativity were observed, with 92% of evaluable responders achieving MRD negativity, typically by Cycle 3 Day 1 and sustained through Cycle 12 Day 1 in most patients. The safety profile was consistent with expected rates in this elderly population. Cytokine release syndrome (CRS) occurred in 71% of patients, most commonly during Cycle 1, and immune effector cell-associated neurotoxicity syndrome (ICANS) occurred in 18%. Infections of any grade occurred in 68% of patients (26% Grade =3), and neutropenia was reported in 16%, with no febrile neutropenia or clinical tumor lysis syndrome observed. Eight Grade 5 TEAEs occurred. Arm 8 of the Phase 1b/2 EPCORE NHL-2 study (abstract PF1007) evaluated epcoritamab plus R-mini-CHOP in 28 newly diagnosed CD20+ DLBCL patients ineligible for full-dose R-CHOP due to age (=75 years) or comorbidities (=65 years with comorbidities). With more than two years of follow-up, fixed-duration epcoritamab plus R-mini-CHOP demonstrated high response rates, sustained MRD negativity and durable remissions. An ORR of 93% and a CR rate of 86% were observed. Median DOR, DOCR, PFS, and OS were not reached. At two years, estimated DOR and DOCR rates were 79%, while estimated PFS and OS rates were 76% and 82%, respectively. Rapid and sustained MRD negativity was observed, with 95% of evaluable patients achieving MRD negativity, including high rates in high-risk subgroups. Outcomes compared favorably with historical results for R-mini-CHOP alone. The safety profile was consistent with prior reports and the known safety profiles of epcoritamab and R-mini-CHOP. The most common Grade =3 treatment-emergent adverse events (TEAEs) were neutropenia (54%), serious infections (33%) and anemia (14%). Most Grade =3 serious infections occurred during the first six cycles of treatment with R-mini-CHOP coadministration. TEAEs led to epcoritamab discontinuation in three patients (11%). EPCORE DLBCL-3 (NCT05660967) is an open-label, randomized, global, Phase 2 trial to evaluate the efficacy and safety of epcoritamab as monotherapy or in combination with lenalidomide as first-line therapy for anthracycline-ineligible subjects with diffuse large B-cell lymphoma (DLBCL). This is a 2-stage trial. In Stage 1, eligible patients were randomized to either epcoritamab monotherapy or epcoritamab plus lenalidomide. In Stage 2, additional patients were enrolled to the epcoritamab monotherapy arm. Each treatment cycle is 28 days. Patients will receive a maximum of 12 cycles (up to 1 year) of treatment. The primary objective is to evaluate the clinical efficacy of epcoritamab monotherapy or epcoritamab and lenalidomide. The primary endpoint is to achieve a complete response rate determined by Lugano criteria. Additional secondary endpoints include overall response rate, duration of response, duration of complete response, rate of minimal residual disease negativity, progression-free survival and overall survival.

Danish (OMX) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Novo Nordisk (CPSE:NOVO B) Stock Could Be 28.2% Below Fair Value After UK Wegovy Approval

H. Lundbeck (CPSE:HLUN B) Stock Could Be 10% Undervalued After Asedebart Phase II Data

ALK Receives UK Approval For EURneffy 1 Mg As The First And Only Needle-Free Adrenaline Treatment For Young Children At Risk Of Anaphylaxis

Price target decreased by 13% to kr.458

AMBU B: Bearish Downgrade And Stable Assumptions May Support Future Repricing

Gubra Announces Appointment of Lena Moran-Adams as Group General Counsel, Effective June 16, 2026

COLO B: Recent Pullback And New FDA Approval Will Support Future Re Rating

BAVA: Public Preparedness Contracts Will Support 2026 Earnings Upside

Genmab Announces Epcoritamab Monotherapy And Epcoritamab-Based Combination Regimens Demonstrate High Response Rates In Elderly Patients With Newly Diagnosed Diffuse Large B-Cell Lymphoma

Demant Shares Climb as BofA Cites Strong Q1 Growth and Raised 2026 Forecast

New major risk - Shareholder dilution

First half 2026 earnings: EPS and revenues miss analyst expectations

Bioporto A/S Un-changes Earnings Guidance for the Full Year 2026

New minor risk - Share price stability

ChemoMetec A/S, Annual General Meeting, Oct 08, 2026

First quarter 2026 earnings released