Novo Nordisk expects Wegovy approval in China this yr: report (NYSE:NVO)

Novo Nordisk (NVO) reportedly expects its well-liked weight-loss drug Wegovy to be accepted in China this yr, however plans to launch the product within the huge Asian market with capped volumes.

Talking at an buyers assembly in Copenhagen, Christine Zhou Xiaping, head of Novo Nordisk’s China division, instructed listeners that the launch will focus first on sufferers paying out-of-pocket for the drug, in keeping with Reuters.

Wegovy, also called semaglutide, belongs to a category of medicine often called GLP-1s, that are used to deal with weight problems and diabetes. Novo Nordisk markets a model of semaglutide for diabetes beneath the model title Ozempic.

Xiaping added that a number of drugmakers have filed to conduct scientific trials for generic variations of GLP-1 medicine, however none are anticipated to be accepted earlier than 2028, Reuters stated.

Wegovy’s patent in China is predicted to run out in 2026, Reuters added.

Novo Nordisk’s primary competitor within the GLP-1 drug enviornment has been Eli Lilly (NYSE:LLY), which markets the diabetes drug Mounjaro and weight reduction drug Zepbound.

Different corporations with GLP-1 medicine in growth embody AstraZeneca (AZN), Amgen (AMGN), Pfizer (PFE), Viking Therapeutics (VKTX), Tern Prescribed drugs (TERN) and Construction Therapeutics (GPCR).