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What about IKEA? It's smaller than Novo Nordisk, but they also use a non-profit parent company, which is admittedly a bit bizarre.

My experience interacting with Novo Nordisk is that, in their case, this model has led to massive inefficiencies.

The non-profit aspect has led to lots of internal politics and rigged hires. They are much more inefficient than a classical pharma.

> What about IKEA? It's smaller than Novo Nordisk, but they also use a non-profit parent company, which is admittedly a bit bizarre.

Smells like tax evasion, but what do i know. Isn't IKEAs founder one of the richest people in Swiss?

Sweden is not Switzerland. And he died almost ten years ago.

He lived in Switzerland for over 40 years.

Yes, indeed. IKEA's non-profit parent is headquartered in NL, and it is obviously a tax evasion scheme.

Is IKEA smaller than Novo Nordisk?

In practice, maybe not, but Novo Nordisk's current market cap is much bigger. In terms of revenue, I think they are on the same order of magnitude?

Novo Nordisk might return to a more realistic market cap once other GLP-1 agonists enter the market, e.g. Lilly's.