When it comes to building innovative pipelines and raising cash, Scandinavia is giving the rest of Europe a run for its money.

Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation and the man who supervised the development of semaglutide, describes the unprecedented growth of the obesity market and what might come next for Novo.

Money may have become too tight to mention for many biotechs and the IPO window in Europe is not just shut but boarded up. However, big pharma’s need to replenish the pipeline has become urgent and the major players are looking to tap into the continent’s early-stage companies which are driving innovation and provide them with much-needed cash.