A Romanian company has reached the top of the most valuable companies in the European Union

One of the most famous companies on the Romanian market has reached the top of the most valuable corporations in the European Union.

According to Visual Capitalist, which created a map of the most valuable corporations from 11 major EU economies, based on market capitalizations recorded until April 15, 2024, the Romanian company that is at the top is Hidroelectrica, which appeared on this list together with the listing of the company on the Bucharest Stock Exchange, reports antena3.ro.

But pharmaceutical giant Novo Nordisk, which first brought controversial diabetes and diet drug Ozempic to market, leads the ranking by a margin, followed by luxury department store chain LVMH and superconductor maker ASML.

Novo Nordisk is currently valued at over $550 billion, making it the most valuable company in Europe by a considerable margin. The pharmaceutical giant specializes in diabetes and weight loss drugs. Demand for two of these, Ozempic and Wegovy, has grown amid proven qualities especially in slimming belts, even causing nationwide shortages in the United States, reports Visual Capitalist, according to ziare.com.

The list also includes luxury supergiant LVMH, which owns brands such as Tiffany&Co, Christian Dior and TAG Heuer. This company ranks 2nd in the European ranking, valued at 420 billion dollars.

Rounding out the top three companies is Dutch company ASML, which makes critical equipment for chipmakers and is considered a major player in the semiconductor industry, valued at $380 billion.

The Romanian company Hidroelectrica appears in the Visual Capitalist ranking in the 15th place of the ranking, with Hidroelectrica, the company with state capital that had its initial public offering on the Bucharest Stock Exchange (BVB) last year.

The main provider of technological services needed in the National Energy System in Romania last year became the highest initial public offering on the capital market in Europe and the third largest in the world, amounting to approximately 2 billion euros, with a market capitalization which jumped by 40 billion euros.