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 12.3x which is lower than its 3-year average PE of 27.3x. 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 31.8x. Analysts are expecting annual earnings growth of 50.3%, which is higher than its past year's earnings growth of 15.5% per year.

Danish (OMX) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 18 Sep 2026	DKK 1.7t	DKK 468.6b	DKK 137.4b	22.8x	12.3x	3.6x
Sun, 16 Aug 2026	DKK 1.8t	DKK 469.1b	DKK 137.8b	23.1x	12.8x	3.7x
Tue, 14 Jul 2026	DKK 1.9t	DKK 469.3b	DKK 147.2b	20.9x	12.7x	4x
Thu, 11 Jun 2026	DKK 1.7t	DKK 468.9b	DKK 147.1b	19.6x	11.4x	3.6x
Sat, 09 May 2026	DKK 1.7t	DKK 467.5b	DKK 148.5b	20.8x	11.5x	3.6x
Mon, 06 Apr 2026	DKK 1.5t	DKK 447.8b	DKK 130.1b	17.4x	11.3x	3.3x
Wed, 04 Mar 2026	DKK 1.5t	DKK 448.2b	DKK 131.1b	17.5x	11.1x	3.2x
Fri, 30 Jan 2026	DKK 2.1t	DKK 453.2b	DKK 136.7b	17.5x	15.6x	4.7x
Sun, 28 Dec 2025	DKK 2.0t	DKK 453.7b	DKK 136.8b	17.1x	14.4x	4.3x
Tue, 25 Nov 2025	DKK 1.8t	DKK 454.3b	DKK 137.1b	17.4x	13x	3.9x
Thu, 23 Oct 2025	DKK 2.0t	DKK 447.8b	DKK 141.8b	18.9x	14.4x	4.5x
Sat, 20 Sep 2025	DKK 2.2t	DKK 447.3b	DKK 141.7b	19x	15.7x	5x
Mon, 18 Aug 2025	DKK 1.9t	DKK 444.4b	DKK 140.2b	28.1x	13.6x	4.3x
Wed, 16 Jul 2025	DKK 2.4t	DKK 423.3b	DKK 124.5b	29.9x	19.1x	5.6x
Fri, 13 Jun 2025	DKK 2.8t	DKK 423.4b	DKK 124.6b	31.2x	22.4x	6.6x
Sun, 11 May 2025	DKK 2.4t	DKK 423.4b	DKK 124.9b	22.6x	19.4x	5.7x
Tue, 08 Apr 2025	DKK 2.4t	DKK 409.5b	DKK 121.3b	21.9x	19.5x	5.8x
Thu, 06 Mar 2025	DKK 3.3t	DKK 409.9b	DKK 121.4b	27.7x	27.4x	8.1x
Sat, 01 Feb 2025	DKK 3.3t	DKK 387.7b	DKK 111.4b	28.8x	29.2x	8.4x
Mon, 30 Dec 2024	DKK 3.4t	DKK 387.4b	DKK 111.3b	29.9x	30.1x	8.7x
Wed, 27 Nov 2024	DKK 3.9t	DKK 387.4b	DKK 111.3b	31x	35.2x	10.1x
Fri, 25 Oct 2024	DKK 4.1t	DKK 372.2b	DKK 107.2b	33.7x	38x	10.9x
Sun, 22 Sep 2024	DKK 4.4t	DKK 371.9b	DKK 107.1b	37.4x	40.8x	11.8x
Tue, 20 Aug 2024	DKK 4.7t	DKK 370.7b	DKK 107.0b	37.4x	43.8x	12.6x
Thu, 18 Jul 2024	DKK 4.7t	DKK 355.2b	DKK 106.2b	35.3x	43.8x	13.1x
Sat, 15 Jun 2024	DKK 5.0t	DKK 355.3b	DKK 106.2b	35.5x	46.7x	14x
Mon, 13 May 2024	DKK 4.5t	DKK 354.9b	DKK 106.0b	34.6x	42.5x	12.7x
Wed, 10 Apr 2024	DKK 4.4t	DKK 341.2b	DKK 99.6b	37.3x	44.2x	12.9x
Fri, 08 Mar 2024	DKK 4.7t	DKK 341.1b	DKK 99.6b	38.9x	47.3x	13.8x
Sun, 04 Feb 2024	DKK 4.0t	DKK 338.6b	DKK 98.5b	32.7x	40.6x	11.8x
Tue, 02 Jan 2024	DKK 3.6t	DKK 320.4b	DKK 90.0b	32.8x	40.4x	11.3x
Thu, 30 Nov 2023	DKK 3.6t	DKK 320.5b	DKK 90.0b	33x	39.9x	11.2x
Sat, 28 Oct 2023	DKK 3.4t	DKK 305.6b	DKK 82.3b	26.6x	41.5x	11.2x
Mon, 25 Sep 2023	DKK 3.4t	DKK 305.5b	DKK 82.2b	33.8x	41.3x	11.1x


DK Market	-0.50%
Healthcare	-1.45%
Biotech	6.12%
Healthcare Services	4.56%
Medical Equipment	-1.07%
Life Sciences	-2.11%
Pharma	-2.38%
Healthtech	-3.42%

Company	Last Price	7D	1Y	Valuation
NOVO B Novo Nordisk	DKK 280.45	1.4% +DKK 17.7b	-27.8%	PE10.7x
GMAB Genmab	DKK 2.27k	8.7% +DKK 10.9b	25.8%	PE26.5x
DEMANT Demant	DKK 300.80	2.2% +DKK 1.3b	26.4%	PE26.2x
COLO B Coloplast	DKK 419.10	0.7% +DKK 675.5m	-29.3%	PE34.2x
ALK B ALK-Abelló	DKK 197.90	1.0% +DKK 443.8m	-6.6%	PE32.4x

Announcement • 34m

Zealand Pharma Receives Positive CHMP Opinion for Zeydovio (Glepaglutide) for the Treatment of Short Bowel Syndrome

Zealand Pharma received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), recommending marketing authorization for Zeydovio (glepaglutide), a long-acting, next-generation GLP-2 analog, for the treatment of adults with short bowel syndrome (SBS). The positive opinion is based on data from the pivotal Phase 3 EASE-1 trial, in which twice-weekly glepaglutide demonstrated statistically significant and superior reductions in parenteral support requirements in SBS patients with intestinal failure (IF) compared to placebo. These data were supported by interim results from the EASE-2 and EASE-3 trials, the long-term extension trials of up to two years, and results from a mechanistic trial (EASE-4) providing evidence of glepaglutide's pharmacodynamic effects in improving intestinal absorption. In the clinical trials to date, glepaglutide treatment appeared safe and well tolerated. Results from the EASE-2 and EASE-3 trials, which confirmed the long-term efficacy and safety of glepagutide, are expected to be presented at scientific meetings in 2027. The CHMP's opinion will now be reviewed by the European Commission, with a final decision on the Marketing Authorization Application (MAA) expected within approximately 67 days. Subject to European Commission approval, the marketing authorization would be valid in all member states of the European Union, as well as Iceland, Liechtenstein, and Norway. Zealand Pharma is actively engaging in partnership discussions for the future global commercialization of glepaglutide for SBS. The Phase 3 EASE-5 trial, designed to provide further confirmatory evidence to support a regulatory submission in the U.S., is ongoing, with patient recruitment progressing well. Glepaglutide is a long-acting GLP-2 analog in development for the treatment of short bowel syndrome, aiming to reduce or eliminate the need for parenteral support by improving intestinal function. With its long half-life and high stability in aqueous solution, glepaglutide is developed for twice-weekly, subcutaneous administration via a ready-to-use, single-dose autoinjector. The U.S. FDA has granted orphan drug designation for glepaglutide for the treatment of SBS. The Phase 3 program, named EASE, is designed to evaluate the potential for glepaglutide to reduce or eliminate the need for PS in SBS patients with intestinal failure. EASE-1 (NCT03690206) was a randomized, double-blind Phase 3 trial in 106 SBS patients with intestinal failure who were dependent on PS for at least three days per week. Patients were evenly randomized to receive glepaglutide 10 mg once or twice weekly, or placebo. The primary endpoint was the absolute change in weekly PS volume from baseline at 24 weeks. At 24 weeks, glepaglutide administered twice weekly significantly reduced the total weekly volume of PS by 5.13 liters/week compared to 2.85 liters/week in the placebo group (p=0.0039). Clinical efficacy was observed in patients with and without colon-in-continuity. Among patients receiving glepaglutide twice weekly, 65.7% achieved a clinical response, defined as at least 20% reduction in weekly PS volume at 24 weeks (versus 38.9% in the placebo group), and 51.4% of patients achieved a reduction in PS days of at least 1 day/week (versus 19.4% in the placebo group). Nine patients treated with glepaglutide were completely weaned off PS (achieving enteral autonomy), while no placebo-treated patients achieved enteral autonomy. For patients treated twice weekly, 14% (n=5) achieved enteral autonomy. Glepaglutide treatment appeared safe and well tolerated. In total, 102 of 106 participating patients completed EASE-1, of which 96 continued into the two-year long-term safety and efficacy extension trial, EASE-2. EASE-2 (NCT03905707) was a randomized, double-blind trial in which SBS patients continued their randomly assigned treatment from EASE-1 with glepaglutide 10 mg once- or twice-weekly. Patients who received placebo in EASE-1 were re-randomized to glepaglutide 10 mg once- or twice-weekly. In addition, a smaller group of patients not previously treated with glepaglutide were directly randomized to receive glepaglutide 10 mg once- or twice weekly. In an interim analysis after at least six months of treatment, clinical response across the key efficacy endpoints was generally maintained or showed continued improvement, including additional patients on both doses weaning off PS. Patients who completed EASE-2 were eligible for EASE-3 (NCT04881825), evaluating glepaglutide administered once weekly using an autoinjector. The EASE-2 and EASE-3 trials were completed in 2026, and the remaining patients have rolled over to a new extension trial, EASE-6 (NCT07228403). Results from the EASE-2 and EASE-3 trials are expected to be presented at scientific meetings in 2027. EASE-4 (NCT04991311) was a Phase 3b trial to assess mechanistic effects of glepaglutide once weekly on intestinal fluid and energy uptake, providing evidence of the pharmacodynamic effects of glepaglutide in improving intestinal absorption. The primary endpoint was absolute change in intestinal wet weight absorption. Secondary endpoints assessed changes in energy, electrolyte, and macronutrient absorption after 24 weeks of treatment. Additional endpoints included changes in PS use, body composition and safety after 52 weeks of treatment. At week 24, mean numerical increase in intestinal wet weight absorption was 398 g/day (p=0.0585) and mean energy absorption 1038 kJ/day (p=0.0215). Improvements occurred in electrolyte and macronutrient absorption. At week 52, mean PS volume was reduced by 800 mL/day (p=0.0106) with a reduction in mean PS energy content of 866 kJ/day (p=0.0103). EASE-5 (NCT07197944) is a randomized, double-blind, placebo-controlled Phase 3 trial, designed to confirm the efficacy and safety of glepaglutide twice weekly, followed by a long-term, open-label safety evaluation in SBS patients with intestinal failure.

Announcement • Sep 16

H. Lundbeck A/S Receives Marketing Authorization for Vyepti (Eptinezumab) in Japan for Prevention of Migraine Attacks

H. Lundbeck A/S has been granted marketing authorization for eptinezumab for the prevention of migraine attacks in adults by the Ministry of Health, Labour and Welfare (MHLW) of Japan. Eptinezumab is the only intravenous (IV) CGRP-targeted preventive treatment approved for the prevention of migraine attacks in adults and launched in over 30 countries worldwide. Authorization is supported by the Phase III SUNRISE trial and the SUNSET long-term extension study in Japanese patients. Eptinezumab is a humanized monoclonal antibody that binds to calcitonin gene-related peptide (CGRP) and was developed for IV administration as a preventive treatment for migraine. The Japanese marketing authorization is supported by the global clinical development program for eptinezumab, including the Phase III PROMISE-1, PROMISE-2 and DELIVER trials, together with data from the Phase III SUNRISE trial, which evaluated efficacy and safety in a predominantly Asian population with chronic migraine. The application was further supported by the Phase III SUNSET long-term extension study conducted specifically in Japanese patients to evaluate the long-term safety of eptinezumab. Eptinezumab was first approved by the U.S. Food and Drug Administration in 2020 for the preventive treatment of migraine in adults, followed by additional approvals including in the European Union and most recently South Korea. It has since been launched in more than 30 markets worldwide. Eptinezumab is a humanized mAb that binds to CGRP which was designed for IV administration. The efficacy and safety of eptinezumab were evaluated in two Phase III clinical trials, PROMISE-1 in episodic migraine and PROMISE-2 in chronic migraine. In both trials, eptinezumab met its primary endpoint of decrease in monthly migraine days (MMDs) over weeks 1-12. The safety of eptinezumab has been evaluated in more than 5,000 adult patients with migraine who received at least one dose. Common adverse reactions in the placebo-controlled clinical trials for the preventive treatment of migraine were hypersensitivity and infusion-related reactions. VYEPTI (eptinezumab-jjmr) was approved by the U.S. Food and Drug Administration (FDA) for the preventive treatment of migraine in adults in February 2020, and in January 2022, eptinezumab was granted marketing authorization by the European Commission (EC) for the prophylaxis of migraine in adults who have at least four migraine days per month. In Japan, eptinezumab is approved for the prevention of migraine attacks in adults. Eptinezumab is launched in more than 30 markets worldwide.

Danish (OMX) Healthcare Sector Analysis

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Industry Trends

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Latest News

Zealand Pharma Receives Positive CHMP Opinion for Zeydovio (Glepaglutide) for the Treatment of Short Bowel Syndrome

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H. Lundbeck A/S Receives Marketing Authorization for Vyepti (Eptinezumab) in Japan for Prevention of Migraine Attacks

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