Ole Schwander Novo Nordisk ( NVO ) reportedly expects its popular weight-loss drug Wegovy to be approved in China this year, but plans to launch the product in the massive Asian market with capped volumes. Speaking at an investors meeting in Copenhagen, Christine Zhou Xiaping, head of Novo Nordisk's China division, told listeners that the launch will focus first on patients paying out-of-pocket for the drug, according to Reuters . Wegovy, also known as semaglutide, belongs to a class of drugs known as GLP-1s, which are used to treat obesity and diabetes.
Novo Nordisk markets a version of semaglutide for diabetes under the brand name Ozempic. Xiaping added that several drugmakers have filed to conduct clinical trials for generic versions of GLP-1 drugs, but none are expected to be approved before 2028, Reuters said. Wegovy’s patent in China is expected to expire in 2026, Reuters added.
Novo Nordisk’s main competitor in the GLP-1 drug arena has been Eli Lilly ( NYSE: LLY ), which markets the diabetes drug Mounjaro and weight loss drug Zepbound. Other companies with GLP-1 drugs in development include AstraZeneca ( AZN ), Amgen ( AMGN ), Pfizer ( PFE ), Viking Therapeutics ( VKTX ), Tern Pharmaceuticals ( TERN ) and Structure Therapeutics ( GPCR ). More on Novo Nordisk Novo Nordisk: My 'Hold' Thesis For 2024 - The Premium Must Be Justified Novo Nordisk, A Very Healthy Pharma Stalwart Novo Nordisk: SOTP After Impressive FY23 And Weight Loss Going Mainstream, Maintain Buy Bigge.
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