May 11, 2024
If you’ve ever wondered why single-payer health care will never happen in this country, here’s a hint: there is a LOT of money to be made under the current system.
For instance, perhaps you’ve heard of UnitedHealth Group. In 1995, it ranked 303rd on Fortune’s list of America’s largest companies. Propelled by a string of acquisitions, it climbed to 40th in 2005, 6th in 2016 and 5th in 2023. Its 2o23 revenue was $371.6 billion, putting it just behind Apple and ahead of Alphabet and Microsoft.
Meanwhile, Novo Nordisk’s development of semiglutide, the key ingredient in the diabetes and obesity drugs Oxempic and Wegovy, has made it Europe’s most valuable company. Its market capitalization of more than $570 billion is bigger than the annual economic output of its home country, Denmark.