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 12.2x which is lower than its 3-year average PE of 27.4x. The 3-year average PS ratio of 8.0x 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 Life Sciences industry which is trading above its 3-year average PE ratio of 28.3x. Analysts are expecting annual earnings growth of 51.2%, which is higher than its past year's earnings growth of 8.3% per year.

Danish (OMX) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 12 Sep 2026	DKK 1.7t	DKK 468.3b	DKK 137.3b	22.4x	12.2x	3.6x
Mon, 10 Aug 2026	DKK 1.8t	DKK 472.1b	DKK 141.4b	22.6x	12.7x	3.8x
Wed, 08 Jul 2026	DKK 1.9t	DKK 469.2b	DKK 147.1b	21.1x	12.8x	4x
Fri, 05 Jun 2026	DKK 1.7t	DKK 468.7b	DKK 147.0b	19.8x	11.4x	3.6x
Sun, 03 May 2026	DKK 1.6t	DKK 447.5b	DKK 130.0b	18.6x	12.6x	3.7x
Tue, 31 Mar 2026	DKK 1.4t	DKK 448.0b	DKK 130.1b	16.6x	11x	3.2x
Thu, 26 Feb 2026	DKK 1.5t	DKK 447.7b	DKK 131.0b	18.5x	11.4x	3.3x
Sat, 24 Jan 2026	DKK 2.3t	DKK 453.7b	DKK 136.8b	18.4x	16.7x	5x
Mon, 22 Dec 2025	DKK 1.9t	DKK 453.8b	DKK 136.9b	16.9x	13.7x	4.1x
Wed, 19 Nov 2025	DKK 1.8t	DKK 454.2b	DKK 137.0b	16.7x	13.5x	4.1x
Fri, 17 Oct 2025	DKK 2.1t	DKK 447.5b	DKK 141.7b	18.7x	15.1x	4.8x
Sun, 14 Sep 2025	DKK 2.0t	DKK 447.3b	DKK 141.7b	19.9x	14.4x	4.6x
Tue, 12 Aug 2025	DKK 1.9t	DKK 434.9b	DKK 132.5b	28.9x	14.2x	4.3x
Thu, 10 Jul 2025	DKK 2.4t	DKK 423.1b	DKK 124.5b	30x	19.4x	5.7x
Sat, 07 Jun 2025	DKK 2.7t	DKK 423.8b	DKK 124.7b	30.7x	21.3x	6.3x
Mon, 05 May 2025	DKK 2.5t	DKK 409.3b	DKK 121.3b	23x	20.6x	6.1x
Wed, 02 Apr 2025	DKK 2.6t	DKK 409.5b	DKK 121.3b	23.7x	21.4x	6.3x
Fri, 28 Feb 2025	DKK 3.4t	DKK 410.1b	DKK 121.4b	28.6x	27.9x	8.3x
Sun, 26 Jan 2025	DKK 3.3t	DKK 387.4b	DKK 111.3b	29.4x	29.8x	8.6x
Tue, 24 Dec 2024	DKK 3.3t	DKK 387.4b	DKK 111.3b	29.8x	29.5x	8.5x
Thu, 21 Nov 2024	DKK 3.8t	DKK 387.3b	DKK 111.3b	33.1x	34.3x	9.9x
Sat, 19 Oct 2024	DKK 4.2t	DKK 372.1b	DKK 107.2b	37.1x	38.8x	11.2x
Mon, 16 Sep 2024	DKK 4.7t	DKK 372.0b	DKK 107.1b	36x	43.8x	12.6x
Wed, 14 Aug 2024	DKK 4.7t	DKK 370.3b	DKK 106.9b	36.3x	43.5x	12.6x
Fri, 12 Jul 2024	DKK 4.9t	DKK 355.3b	DKK 106.2b	35.8x	46x	13.8x
Sun, 09 Jun 2024	DKK 4.9t	DKK 355.3b	DKK 106.2b	36.2x	46.5x	13.9x
Tue, 07 May 2024	DKK 4.4t	DKK 354.8b	DKK 106.4b	34.2x	40.9x	12.3x
Thu, 04 Apr 2024	DKK 4.5t	DKK 341.2b	DKK 99.6b	37.8x	45.2x	13.2x
Sat, 02 Mar 2024	DKK 4.4t	DKK 340.0b	DKK 98.9b	38x	44.4x	12.9x
Mon, 29 Jan 2024	DKK 3.8t	DKK 320.5b	DKK 90.0b	34.7x	42x	11.8x
Wed, 27 Dec 2023	DKK 3.6t	DKK 320.4b	DKK 90.0b	32.7x	40.2x	11.3x
Fri, 24 Nov 2023	DKK 3.7t	DKK 320.5b	DKK 90.0b	32.5x	40.8x	11.4x
Sun, 22 Oct 2023	DKK 3.5t	DKK 305.5b	DKK 82.2b	27.8x	42.6x	11.5x
Tue, 19 Sep 2023	DKK 3.4t	DKK 305.5b	DKK 82.2b	36.1x	41.9x	11.3x


DK Market	-3.49%
Healthcare	-6.69%
Healthcare Services	-0.39%
Healthtech	-3.48%
Biotech	-4.26%
Medical Equipment	-4.90%
Pharma	-7.21%
Life Sciences	-7.26%

	Company	Last Price	7D	1Y	Valuation
	DEMANT Demant	DKK 294.40	0.9% +DKK 548.3m	18.2%	PE25.6x
	HLUN B H. Lundbeck	DKK 44.42	0.7% +DKK 297.4m	3.8%	PE11.2x

Announcement • Sep 07

Novo Nordisk Reports STEP Young Phase 3 Trial Results For Semaglutide In Children With Obesity

Novo Nordisk announced first results from the STEP Young phase 3 trial, evaluating once-weekly semaglutide in combination with a reduced-calorie diet and increased physical activity in children aged 6 to under 12 years old with obesity. The STEP Young phase 3 trial met its primary endpoint, demonstrating greater body mass index (BMI) reduction in children aged 6 to under 12 treated with once-weekly subcutaneous semaglutide compared with placebo. Both groups received lifestyle modification throughout the trial, including reduced-calorie diet and increased physical activity. 40.4% of the children treated with semaglutide were no longer classified as having obesity after 68 weeks compared with none treated with placebo. At baseline, more than 85% of the children had either class II or III severe obesity (corresponding to a BMI above or equal to 35 and 40 in adults, respectively). The trial met its primary endpoint demonstrating superior BMI reduction at week 68 in the group taking semaglutide compared with the placebo group. The results showed that 40.4% of those treated with semaglutide were no longer classified as having obesity at week 68, compared with none of those treated with placebo. This means that semaglutide helped two out of five of the children reduce their BMI to a normal weight or overweight classification compared with none of the children in the placebo group. Both groups received lifestyle modification throughout the trial, including reduced-calorie diet and increased physical activity. Children living with obesity experience cardiovascular disease risk factors, alongside depression, eating disorders, and bullying, with studies showing that their quality of life is comparable to children undergoing cancer treatment. Without effective intervention, childhood obesity strongly tracks into adulthood, where obesity-related complications emerge earlier and more severely, substantially shortening life expectancy. An estimated 177 million children aged 5 to 19 were living with obesity in 2025, and this figure is projected to rise to 228 million by 2040. The overall safety and tolerability of semaglutide observed in STEP Young were consistent with previous Novo Nordisk paediatric and adult trials with semaglutide and liraglutide, and no new safety concerns were identified. Furthermore, no safety concerns were identified for growth or pubertal development. Detailed STEP Young results will be presented at The Obesity Society’s annual meeting ObesityWeek 2026, 14-17 November in Washington DC, United States. Based on CDC.gov sex- and age-specific BMI growth charts. Using percentiles to define BMI categories in children is important because they are still growing. In children, obesity is defined as a BMI at or above the 95th percentile for age and sex. Obesity classes II and III in children are defined as a BMI =120% and =140% of the 95th percentile, respectively. The phase 3 STEP Young is a randomised, double-blind, placebo-controlled, multinational trial investigating safety and efficacy of semaglutide compared with placebo in 165 children with obesity aged 6 to under 12 years.

Announcement • Sep 03

H. Lundbeck A/S Highlights Mechanistic Insights and Clinical Data on Bexicaserin At the European Epilepsy Congress

H. Lundbeck A/S announced that preclinical data on the dual mode of action of bexicaserin will be featured in an oral presentation at the European Epilepsy Congress in Athens, Greece, 5-9 September, alongside additional presentations of clinical and preclinical data from the bexicaserin development program. The oral presentation will highlight mechanistic data supporting the scientific rationale of bexicaserin's dual mode of action as an investigational, oral, highly-selective superagonist of the 5-HT2c receptor. Through this mechanism, bexicaserin has been shown in preclinical studies to increase inhibitory and decrease excitatory neuronal activity. Preclinical data provide mechanistic insight into bexicaserin's dual mode of action, increasing inhibitory while decreasing excitatory neuronal activity, suggesting a broader antiseizure activity in preclinical models of focal, generalized motor and absence seizures across different etiologies. Bexicaserin is currently being evaluated in the global Phase III DEEp Program for the treatment of seizures associated with developmental and epileptic encephalopathies (DEEs). The preclinical data are relevant because many DEEs are associated with network hyperexcitability where an increase in excitation, decrease in inhibition, or both, can lead to seizures. In hippocampal brain tissue, bexicaserin increases inhibitory while decreasing excitatory neuronal activity, suggesting broad-spectrum antiseizure activity in preclinical models of different seizure types from various etiologies. The high affinity and selectivity of bexicaserin for 5-HT2C receptor supports the conclusion that these effects are mediated through this receptor. Bexicaserin is being evaluated in the global Phase III DEEp Program. The program includes DEEp OCEAN in children and adults living with DEEs, including Lennox-Gastaut syndrome, and DEEp SEA in children and adults living with Dravet syndrome. Bexicaserin is an investigational compound that is not approved for marketing by any regulatory authority worldwide. The efficacy and safety of bexicaserin have not been established. Data presentations at the European Epilepsy Congress include analyses of bexicaserin for the treatment of seizures in DEEs: response over time and responder rates in the Phase 1b/2a PACIFIC Trial OLE, interim analysis of an expanded access program for participants on treatment for up to 2 years, effects of bexicaserin on neural circuits in the DBA/1 mouse model of sudden unexpected death in epilepsy (SUDEP), and oral presentation on bexicaserin, a 5-hydroxytryptamine type 2C receptor superagonist, modulating inhibitory and excitatory neuronal function to exert antiseizure effects across etiologies and seizure types. Bexicaserin (LP352) is an oral, centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist with no engagement of the 5-HT2B and 5-HT2A receptor subtypes, potentially minimizing the risk of cardiovascular toxicity. The most common TEAEs associated with bexicaserin in the PACIFIC trial were somnolence, decreased appetite, constipation, diarrhea, lethargy, tremor, urinary tract infection, fatigue, pyrexia, agitation, and hypertension. Bexicaserin acts via a dual mode of action, both increasing inhibitory and decreasing excitatory neuronal function, consistent with the reduction in seizures associated with DEEs arising from various etiologies. Bexicaserin is being evaluated in a global Phase III clinical program (the DEEp Program). The FDA has granted Breakthrough Therapy designation for bexicaserin for the treatment of seizures associated with DEEs for patients two years of age and older. Bexicaserin has also been granted Breakthrough Therapy Designation in China for the treatment of seizures associated with DEEs. DEEp OCEAN (NCT:06719141) is a Phase III interventional, randomized, double-blind, parallel-group, placebo-controlled trial evaluating bexicaserin in children and adults with DEEs, including LGS. The trial comprises a screening period of up to 35 days, followed by a 15-week treatment period consisting of a 3-week titration phase and a 12-week maintenance phase. Participants are randomized to receive either bexicaserin or placebo three times daily, with weight-based dosing used for pediatric participants. Following treatment, participants complete a taper period and safety follow-up or may transition into the 52-week DEEp open-label extension study (OLE). The aim of the trial is to evaluate the efficacy, safety, and tolerability of bexicaserin in reducing countable motor seizure frequency in patients with DEEs, including LGS. DEEp SEA (NCT:06660394) is a Phase III interventional, randomized, double-blind, parallel-group, placebo-controlled trial evaluating bexicaserin in children and adults with Dravet syndrome. The trial is currently enrolling participants globally. The trial comprises a screening period of up to 35 days, followed by a 15-week treatment period consisting of a 3-week titration phase and a 12-week maintenance phase. Participants are randomized to receive either bexicaserin or placebo three times daily, with weight-based dosing used for pediatric participants. Following treatment, participants complete a taper period and safety follow-up or may transition into the 52-week DEEp OLE. The aim of the trial is to evaluate the efficacy, safety, and tolerability of bexicaserin in reducing countable motor seizure frequency in patients with Dravet syndrome.

Danish (OMX) Healthcare Sector Analysis

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Latest News

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ZEAL: Obesity Pipeline Execution And Funding Strength Will Drive Future Upside

Novo Nordisk Reports STEP Young Phase 3 Trial Results For Semaglutide In Children With Obesity

Niels Peter Louis-Hansen Granted Danish FSA Exemption for Coloplast Foundation Control Transfer

Obesity And Metabolic Tailwinds Will Drive Powerful Long Term Upside Potential

H. Lundbeck A/S Highlights Mechanistic Insights and Clinical Data on Bexicaserin At the European Epilepsy Congress

AMBU B: Maintained Margin Guidance May Support Repricing Despite Recent Downgrades

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CEO & President recently sold kr.19m worth of stock

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