Increasing Number of Americans Starting Treatment with Novo Nordisk’s Wegovy
Novo Nordisk’s Weight-Loss Drug Sees Rapid Growth in Patient Numbers
Johns Hopkins professor of public health Dr. Marty Makary discusses Costco offering Ozempic and Wegovy to members and the use of these drugs.
At least 25,000 Americans are beginning treatment with Novo Nordisk’s Wegovy each week, and the number of patients starting the medication has quadrupled compared to December 2023, according to the Danish pharmaceutical giant. In response to the growing demand, Novo Nordisk has been working to increase its production capacity to ensure continuity of care for existing patients, gradually increasing shipments of the three lowest dose strengths.
Wegovy was approved by the FDA in 2021 as a medication for chronic weight management, and it has also been recently approved as a heart disease prevention medication. The drug contains the same active ingredient, semaglutide, as Ozempic, another Novo Nordisk product approved for weight loss as a side effect in Type 2 diabetes patients.
Packets of Wegovy move along a conveyor at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on June 12, 2023.
Novo Nordisk faces tough competition from Eli Lilly, a rival pharmaceutical company that manufactures a weight-loss drug called tripeptide, branded as Zepbound (approved for obesity treatment) and Mounjaro (approved for Type 2 diabetes treatment). Both companies have witnessed a surge in demand for their weight-loss products, driven by endorsements from high-profile figures and social media influencers.
In their most recent quarter, Novo Nordisk reported a 25% increase in sales within its diabetes and obesity care unit, amounting to $8.9 billion. The company attributes this growth to a 30% increase in sales for GLP-1 diabetes treatments and a 41% growth in obesity care.
An injection pen of Zepbound, Eli Lilly’s weight-loss drug, is displayed in New York City, on Dec. 11, 2023.
To stay competitive, Novo Nordisk recently announced a reduction in prices for Wegovy and Ozempic.
According to Doug Langa, head of Novo Nordisk’s North America operations, Wegovy’s net prices declined in the first quarter due to expanding market access and the company’s efforts to reach more patients. Novo Nordisk’s CFO, Karsten Munk Knudsen, also confirmed a continued reduction in price for Ozempic, as net pricing is anticipated to decrease in the U.S. market due to increased volume and competition.
While the pharmaceutical companies are experiencing high demand for their weight-loss drugs, medical professionals are cautioning patients to use them responsibly and not as a quick fix for losing weight.
Novo Nordisk highlights the importance of appropriate medication use and aims to increase awareness about their responsible use. They are actively working to minimize misinformation and encourage clearer discussions on obesity treatments.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LLY | ELI LILLY & CO. | 740.98 | -14.94 | -1.98% |
| NVO | NOVO NORDISK A/S | 124.02 | -5.19 | -4.02% |
Although Wegovy, Ozempic, and Rybelsus (which contains semaglutide and is approved for Type 2 diabetes treatment) are distinct products with different indications and dosages, they should not be used interchangeably outside of their approved treatments. Novo Nordisk emphasizes that Rybelsus and Ozempic are not intended for chronic weight management.
Eli Lilly has launched a campaign aimed at helping patients understand the appropriate use of anti-obesity medications.
