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  • Novo Nordisk Enters...

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

Farhat NasimWritten by Farhat Nasim Published On 2024-11-20T13:36:45+05:30  |  Updated On 20 Nov 2024 1:36 PM IST
Novo Nordisk launches obesity drug Wegovy in China
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The move intensifies the competition with Eli Lilly, which secured approval for its weight loss drug in China in July but has yet to launch it.

London: Novo Nordisk said on Monday it has launched its popular obesity drug Wegovy in China, the world's second-largest pharmaceuticals market where it estimates more than 180 million people live with obesity.

The move intensifies the competition with Eli Lilly, which secured approval for its weight-loss drug in China in July but has yet to launch it.

Both companies are ramping up production efforts to capitalise on a weight-loss market projected by analysts to exceed $150 billion by the beginning of the next decade.

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.

Also Read: CDSCO Panel grants Novo Nordisk Protocol Amendment Proposal to study concizumab

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.

Also Read: Roche seeks to block Novo Nordisk's Catalent deal over weight-loss drug competition

novo nordiskwegovyobesity drugchinaeli lillyweight loss drug
Source : Reuters
Farhat Nasim
Farhat Nasim

    Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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