One of the largest publicly traded pharmaceutical companies in the world has a new ambition: quantum computing.
What’s happening:
- Novo Holdings, which is the parent company of pharmaceutical giant Novo Nordisk (NYSE: NVO), has announced their plans to invest $200M USD into quantum computing startups
Why it matters:
- The excitement around quantum computing has been rapidly accelerating of late, with the Canadian government rolling out funding for quantum computing startups, the Australian government making a large investment into PsiQuantum and the United States White House declaring quantum computing to be a critical technology for the future
Going deeper:
- Novo Nordisk has recently seen their breakout weight loss drugs Wegovy and Ozempic explode in popularity, with both drugs bringing in billions in sales
- Novo Holdings is aiming to leverage quantum computing for potential breakthroughs in drug discovery and life sciences, with an initial focus on building out an ecosystem of startups focused on quantum computing based in Nordic countries
The intrigue:
- Chip maker Nvidia (NASDAQ: NVDA) previously announced a partnership to leverage quantum computing technology to accelerate innovation in healthcare with the Tel Aviv Sourasky Medical Centre
