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 11.5x which is lower than its 3-year average PE of 29.7x. The 3-year average PS ratio of 8.6x 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 33.1x. 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
Tue, 16 Jun 2026	DKK 1.7t	DKK 468.7b	DKK 147.0b	19.6x	11.4x	3.6x
Thu, 14 May 2026	DKK 1.7t	DKK 468.7b	DKK 147.2b	20.5x	11.8x	3.7x
Sat, 11 Apr 2026	DKK 1.5t	DKK 447.3b	DKK 129.9b	17.9x	11.4x	3.3x
Mon, 09 Mar 2026	DKK 1.5t	DKK 448.2b	DKK 131.1b	17.1x	11.6x	3.4x
Wed, 04 Feb 2026	DKK 2.1t	DKK 453.6b	DKK 136.8b	15.8x	15.5x	4.7x
Fri, 02 Jan 2026	DKK 1.9t	DKK 453.7b	DKK 136.9b	17.2x	14.2x	4.3x
Sun, 30 Nov 2025	DKK 1.9t	DKK 454.1b	DKK 137.0b	17.5x	14x	4.2x
Tue, 28 Oct 2025	DKK 2.0t	DKK 447.7b	DKK 141.8b	18.3x	14.2x	4.5x
Thu, 25 Sep 2025	DKK 2.1t	DKK 447.3b	DKK 141.7b	19x	15.1x	4.8x
Sat, 23 Aug 2025	DKK 2.1t	DKK 447.0b	DKK 141.6b	24.9x	14.8x	4.7x
Mon, 21 Jul 2025	DKK 2.3t	DKK 423.3b	DKK 124.5b	29.9x	18.4x	5.4x
Wed, 18 Jun 2025	DKK 2.6t	DKK 423.6b	DKK 124.6b	30.3x	21.1x	6.2x
Fri, 16 May 2025	DKK 2.4t	DKK 424.4b	DKK 125.1b	23.5x	19x	5.6x
Sun, 13 Apr 2025	DKK 2.3t	DKK 409.3b	DKK 121.3b	21.9x	19x	5.6x
Tue, 11 Mar 2025	DKK 2.9t	DKK 409.5b	DKK 121.3b	25.6x	24.2x	7.2x
Thu, 06 Feb 2025	DKK 3.2t	DKK 388.1b	DKK 111.2b	28.8x	28.5x	8.2x
Sat, 04 Jan 2025	DKK 3.4t	DKK 387.5b	DKK 111.3b	30.3x	30.3x	8.7x
Mon, 02 Dec 2024	DKK 3.9t	DKK 387.3b	DKK 111.3b	31.2x	35.2x	10.1x
Wed, 30 Oct 2024	DKK 4.0t	DKK 372.2b	DKK 107.2b	33.7x	37.2x	10.7x
Fri, 27 Sep 2024	DKK 4.3t	DKK 371.9b	DKK 107.1b	36.8x	39.9x	11.5x
Sun, 25 Aug 2024	DKK 4.7t	DKK 371.6b	DKK 107.0b	36.6x	43.6x	12.6x
Tue, 23 Jul 2024	DKK 4.6t	DKK 355.3b	DKK 106.2b	35.9x	43.5x	13x
Thu, 20 Jun 2024	DKK 4.9t	DKK 355.3b	DKK 106.2b	35x	46.4x	13.9x
Sat, 18 May 2024	DKK 4.6t	DKK 355.3b	DKK 106.2b	34.9x	43.3x	13x
Mon, 15 Apr 2024	DKK 4.5t	DKK 341.3b	DKK 99.7b	33.5x	45.1x	13.2x
Wed, 13 Mar 2024	DKK 4.7t	DKK 341.2b	DKK 99.6b	39.8x	47.2x	13.8x
Fri, 09 Feb 2024	DKK 4.2t	DKK 340.0b	DKK 98.5b	33.4x	42.3x	12.3x
Sun, 07 Jan 2024	DKK 3.8t	DKK 320.5b	DKK 90.0b	33.2x	41.7x	11.7x
Tue, 05 Dec 2023	DKK 3.6t	DKK 320.5b	DKK 90.0b	33.4x	40x	11.2x
Thu, 02 Nov 2023	DKK 3.5t	DKK 305.7b	DKK 82.3b	28.7x	42.5x	11.5x
Sat, 30 Sep 2023	DKK 3.4t	DKK 305.5b	DKK 82.2b	33.6x	41.4x	11.1x
Mon, 28 Aug 2023	DKK 3.4t	DKK 305.2b	DKK 82.1b	35x	41.2x	11.1x
Wed, 26 Jul 2023	DKK 3.0t	DKK 287.0b	DKK 75.5b	37.4x	39.5x	10.4x
Fri, 23 Jun 2023	DKK 3.0t	DKK 287.0b	DKK 75.5b	39.8x	39.5x	10.4x


DK Market	1.77%
Healthcare	3.94%
Life Sciences	5.57%
Pharma	4.72%
Healthtech	2.35%
Biotech	2.30%
Medical Equipment	-0.96%
Healthcare Services	-1.43%

Company	Last Price	7D	1Y	Valuation
NOVO B Novo Nordisk	DKK 285.60	5.0% +DKK 60.2b	-42.7%	PE10.4x
ZEAL Zealand Pharma	DKK 306.00	21.3% +DKK 3.8b	-26.3%	PE3.4x
ALK B ALK-Abelló	DKK 269.60	2.2% +DKK 1.3b	47.3%	PE46.7x
GUBRA Gubra	DKK 364.60	11.9% +DKK 633.7m	-33.6%	PE3.5x
BAVA Bavarian Nordic	DKK 182.60	2.4% +DKK 328.9m	0.7%	PE11.9x

Announcement • 15h

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.

Announcement • Jun 13

Novo Nordisk Receives UK Approval For Wegovy Pill For Weight Management

Novo Nordisk has received approval in the UK for Wegovy pill, the new daily weight management tablet, as an adjunct to a reduced-calorie diet and increased physical activity, offering a first-of-its-kind alternative to injectable treatments for adults. The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) has approved Wegovy pill (semaglutide tablets), an oral glucagon-like peptide-1 (GLP-1) receptor agonist licensed for weight management in adults living with obesity (initial Body Mass Index (BMI) =30 kg/m2), or overweight (BMI =27 kg/m2 to <30 kg/m2), with at least one weight-related condition. The MHRA approval is based on data from the OASIS 4 phase 3 clinical trial. When evaluating the effect of treatment regardless of adherence, adults with obesity receiving semaglutide tablets 25 mg achieved ~14% (13.6%) weight loss vs ~2% (2.4%) with placebo after 64 weeks, in addition to lifestyle modifications. Results showed that if all participants adhered to treatment, semaglutide 25 mg achieved weight loss of ~17% (16.6%) vs ~3% (2.7%) placebo after 64 weeks. The study evaluated semaglutide tablets 25 mg in 307 adults with obesity or overweight with at least one weight-related condition, without diabetes. In the study, the most commonly reported side effects were gastrointestinal, including nausea, vomiting and diarrhoea, reported by 74.0% participants in the oral semaglutide group and by 42.2% in the placebo group, respectively. These side effects were generally mild to moderate and transient. In OASIS 4, adverse events leading to treatment discontinuation occurred in ~7% (6.9%) of participants receiving oral semaglutide, which is consistent with rates observed in trials of injectable semaglutide. The MHRA is the third regulatory authority to license the medicine, after the U.S. Food and Drug Administration (FDA) and the United Arab Emirates, Emirates Drug Establishment (EDE). OASIS 4 was a randomised, double-blind, placebo-controlled phase 3 clinical trial evaluating the efficacy and safety of semaglutide 25mg tablets in adults with obesity (BMI =30 kg/m²) or overweight (BMI =27 kg/m²) with at least one weight-related comorbidity, without type 2 diabetes. The trial had two co-primary endpoints: change in body weight (%) and the proportion achieving =5% weight loss at week 64. 307 participants were randomised 2:1 to receive semaglutide 25mg tablets or placebo once daily for 64 weeks in addition to lifestyle interventions. All participants received advice on diet and physical activity, including a daily 500 kcal deficit and a structured exercise regimen. The safety and tolerability profile for semaglutide 25 mg tablets in OASIS 4 was consistent with that observed for semaglutide injection. The most common adverse events were gastrointestinal, and the majority were mild to moderate and diminished over time, consistent with the GLP-1 receptor agonist class.

Danish (OMX) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

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

Novo Nordisk Receives UK Approval For Wegovy Pill For Weight Management

New minor risk - Insider selling

Employee Representative Director exercised options to buy kr.1.3m worth of stock.

ALK B: Future Returns Will Reflect Allergy Immunotherapy And Anaphylaxis Treatment Progress

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

Bavarian Nordic Wins DKK 700 Million Vaccine Supply Contract Extending Revenue Visibility Into 2027

EMBLA: Ongoing Buybacks And Share Cancellations Will Support Future Upside

Coloplast Receives FDA Approval for Titan Prime Inflatable Penile Prosthesis in the US

AMBU B: Bearish Street Sentiment Will Support Future Upside Repricing

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

Pharma Equity Group A/S announced that it expects to receive DKK 9.632073 million in funding