Novo Nordisk Enters China's Obesity Market with Wegovy Launch, Eyes 180 Million Patients

A spokesperson for the Danish drugmaker confirmed the news to Reuters after it was first reported by China-based financial media outlet Yicai.

The price for a month's supply of the starter dose of Wegovy will be 1,400 yuan ($193.27), Yicai reported. The list price of Wegovy in the U.S. is about $1,349 for a month's supply.

The Novo spokesperson did not comment on the price.

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Novo Nordisk gained approval for Wegovy in China in June, and will initially target Chinese patients willing to pay out-of-pocket for the weekly injectable drug.

Novo launched Wegovy in the U.S. in 2021. Strong sales there and in the 15 other countries where Wegovy has since launched, have propelled Novo's shares to record highs. The company has a market capitalisation of about $449 billion.

Wegovy will not be reimbursed by China's national healthcare insurance, which provides basic coverage for most of the country's 1.4 billion people. Novo is looking for ways to make the medicine more affordable, such as through commercial insurance, an executive was quoted as saying in the Yicai report.

The company is launching a "digital patient service platform" for patients taking the medicine, it said on its WeChat account.

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