Andrew Silver
SHANGHAI (Reuters) – Novo Nordisk said on Tuesday its popular weight-loss drug Wegovy has been approved in China, paving the way for sales in the world’s second-largest economy.
Novo said in March that it would initially target Chinese patients willing to pay out of pocket for a weekly injectable drug.
The company did not immediately respond to a Reuters request for comment on when sales will begin, how the drug will be priced and how much it intends to supply to China.
Novo may have much less time in the Chinese market to make the most of its advantage in weight-loss drugs.
The patent on semaglutide, a key ingredient used in Wegovy and its diabetes drug Ozempic, is set to expire in less than two years in China, and local drugmakers are racing to develop generic versions.
In contrast, the patent will expire in 2031 in Europe and Japan and 2032 in the US.
Novo also faces competition from rival Eli Lilly (NYSE:), whose diabetes drug tirzepatide won approval in China in May. Some analysts expect Zepound, the US firm’s weight-loss drug with the same active ingredient, to be approved in China this year or in the first half of 2025.
According to a 2020 Chinese public survey, the number of overweight adults in China is expected to reach 540 million by 2030, an increase of 2.8 times since 2000, and the number of obese people will increase by 7.5 times to 150 million. health researchers.
Ozempic received Chinese approval in 2021, and Novo’s sales in Greater China doubled last year to DKK 4.8 billion ($698 million).