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☆ Insider Today: Austin's genius housing fix
▼ + stars: | 2024-09-28 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

This week's dispatchThe high cost of weight-loss drugsiStock; Rebecca Zisser/BIWhy are two popular weight-loss drugs — Wegovy and diabetes medication Ozempic — so expensive in the US? Patients also bargain-hunt for cheaper weight-loss drugs online, or try to use manufacturer-issued coupons. See the full listiStock; Rebecca Zisser/BIDeals we loveCalling all Madewell shoppers: The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.

Persons: —, you've, Shailene Woodley, George Clooney, Rebecca Zisser, Ozempic, Lars Fruergaard Jorgensen, Sen, Bernie Sanders, it's, Gabby Landsverk, Ro, Henry Meds, Eli Lilly, Stefania Pelfini, Jenny Chang, Rodriguez, BI Marie, Mangin, Yellowstone Joey Hadden, Jackson, Wyoming's, Natalie Ammari, Zers, Austin, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, Novo Nordisk, Federal Trade Commission, FDA, copycats, BI, Yellowstone, Austin, Lone Star, Disney, Pixar, British, Netflix, Insiders Locations: Washington ,, Germany, New York City, New York, Chicago

☆ ‘Greed, greed, greed’: Sanders demands Ozempic maker lower prices
▼ + stars: | 2024-09-24 | by ( Meg Tirrell | Tami Luhby | ) edition.cnn.com time to read: +7 min

“We are very committed to making sure that Americans have access at an affordable price point for our medicines,” Jorgensen replied. Similarly, Wegovy’s list price is $1,349 in the US, but it costs $186 in Denmark, $140 in Germany and $92 in the United Kingdom, he said. Tuesday’s hearing boiled down to a familiar argument over who is responsible for the US’s higher prices: drug companies that set starting – or “list” – prices or pharmacy benefit managers, the middlemen that negotiate discounts on those list prices in exchange for favorable insurance coverage and access. Jorgensen said Novo Nordisk pays back about 75% of its medicine sales in rebates, discounts and fees, so the net price it receives is far lower than the list price. “The broad totality is that less patients have access to our medicines when we lowered the price,” Jorgensen told Sen. Maggie Hassan, D-New Hampshire, after she pressed him to reduce list prices.

Persons: Sen, Bernie Sanders, ” Sanders, Lars Fruergaard Jorgensen, ” Jorgensen, “, Sanders, Jorgensen, it’s, Maggie Hassan, drugmakers, ”, PBMs, scot, ” Sen, Tim Kaine, Roger Marshall, Eli Lilly, Dr, Sanjay Gupta, Tammy Baldwin Organizations: CNN, Nordisk’s, US, Health, Education, Labor, Pensions, Yale, Novo Nordisk’s Ozempic, Novo Nordisk, Pharmaceutical Care Management Association, Nordisk, Novo Nordisk’s, Federal Trade Commission, CVS, Cigna’s, Republican, Wegovy’s, CNN Health, Medicare, Services Locations: United States, Danish, America, Canada, Denmark, Germany, United Kingdom, New Hampshire, Big, Virginia, Kansas, Novo, Wisconsin

WASHINGTON — Sen. Bernie Sanders, I-Vt., renewed his criticism of drugmaker Novo Nordisk on Tuesday, claiming that the CEOs of major generic pharmaceutical companies have told him that they can produce and sell its blockbuster diabetes drug Ozempic for less than $100 a month. During Tuesday's roundtable, Sanders said his recent conversations with generic drugmakers revealed that Novo Nordisk's pricing is "nothing less than excess corporate greed." “They have studied the math, and they tell me that they can sell a generic version of Ozempic, the exact same drug that Novo Nordisk is manufacturing, to Americans for less than $100 a month," Sanders said. Sanders’ office declined to say which generic drug companies told him that they could sell Ozempic at a fraction of what Novo Nordisk charges. Novo Nordisk did not immediately respond to a request for comment.

Persons: WASHINGTON — Sen, Bernie Sanders, Sanders, Lars Fruergaard Jorgensen's, Jorgensen, Wegovy, Dale Folwell, Eli Lilly's Organizations: drugmaker Novo Nordisk, Capitol, Novo Nordisk, Health, Education, Labor, Pensions, Wegovy, Nordisk, Yale Locations: U.S, Novo, Denmark, Germany, United Kingdom, North Carolina

☆ Novo Nordisk cuts profit outlook over disappointing Wegovy sales
▼ + stars: | 2024-08-07 | by ( ) edition.cnn.com time to read: +3 min

London — Novo Nordisk trimmed its full-year profit outlook Wednesday after reporting weaker-than-expected quarterly sales of its popular weight loss drug Wegovy. Chief Financial Officer Karsten Munk Knudsen in an interview called the market reaction unsurprising, given the market’s sensitivity to Novo’s mega-blockbuster drug Wegovy. Sales of Wegovy, Novo’s first-to-market weight loss drug, rose 53% to 11.66 billion crowns, well below the 13.54 billion crowns expected by analysts, while sales of Ozempic, a diabetes drug with the same active ingredient, also just missed expectations. Operating profit in the quarter rose 8% at constant exchange rates to 25.9 billion Danish crowns ($3.8 billion) compared with the 27.3 billion crowns forecast by analysts in an LSEG poll. All eyes on supplyNevertheless, Novo raised its sales growth outlook for this year to between 22% and 28% in local currencies from 19% to 27% previously.

Persons: Karsten Munk Knudsen, Wegovy, ”, Markus Manns, Lars Fruergaard Jorgensen, Eli Lilly, Jorgensen, Novo’s, Novo, Lilly Organizations: London, Nordisk, Novo, Union Investment, Barclays, Citi Locations: Germany, Danish, United States, Britain

☆ Ozempic predecessor suggests potential for GLP-1 drugs in Alzheimer’s in early trial
▼ + stars: | 2024-07-30 | by ( Meg Tirrell | ) edition.cnn.com time to read: +7 min

“This is the first study that actually looked at a relatively large number of patients for whether there is any neuroprotective effect in Alzheimer’s disease,” Edison said. The trial enrolled predominantly people with mild Alzheimer’s disease, measured by a test known as the Mini-Mental State Examination, a scale that goes up to 30. The GLP-1 drug class also includes Eli Lilly’s Mounjaro and Zepbound, which use the active ingredient tirzepatide, which mimics not just the hormone GLP-1 but another called GIP. But it hasn’t announced any trials of its GLP-1 drugs in Alzheimer’s. GLP-1 drugs can have side effects, though, primarily gastrointestinal problems like nausea and vomiting.

Persons: liraglutide, “, ”, Maria Carrillo, Carrillo, Paul Edison, ” Edison, Edison, Eli Lilly’s Mounjaro, Alzheimer’s Lilly, hasn’t, Lilly, Lars Fruergaard Jorgensen, there’s, Dr, Sanjay Gupta, semaglutide Organizations: CNN, Alzheimer’s Association International Conference, Alzheimer’s Association, Novo Nordisk, Imperial College London, ”, Nordisk, ” Novo Nordisk, CNN Health, University of Oxford, Alzheimer’s Society, Alzheimer’s Locations: United Kingdom, Philadelphia, Alzheimer’s, ” Novo, Danish

☆ Blockbuster weight loss drug Wegovy's sales just doubled — and could heat up even more with a price cut
▼ + stars: | 2024-05-03 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewDanish drugmaker Novo Nordisk will lower prices of its weight loss drug Wegovy as it plans to raise sales volumes and navigate tough competition. Prices for the blockbuster drug fell in the first quarter. Sales of Wegovy more than doubled in the first quarter year-on-year, to 9.4 billion Danish crowns, or $1.3 billion, according to the company's earnings. They did not specify how much Novo plans to cut Wegovy's prices. AdvertisementThe Danish pharmaceutical maker, which also produces viral weight loss drug Ozempic, reported better-than-expected sales of 65 billion Danish crowns, or $9.4 billion, in the first quarter.

Persons: —, Karsten Munk Knudsen, Knudsen, Lars Fruergaard Jorgensen, Ozempic, Eli Lilly, Wegovy, Bernie Sanders, Goldman Sachs, Oprah Winfrey, Elon Musk, Charles Barkley Organizations: Service, Nordisk, Business Locations: Danish, Novo

Lars Fruergaard Jorgensen has a problem: Too many people want what he’s selling. Even if the company isn’t quite a household name, the TV jingle for its best-selling drug — “Oh-oh-ohhh, Ozempic!” — might ring in your ears. Across the United States, Novo Nordisk’s diabetes and weight-loss drugs, Ozempic and Wegovy, have soared to celebrity status and helped make the company Europe’s most valuable public firm. Last year, when the company was celebrating its centenary, Novo Nordisk’s revenue jumped by a third, to 232 billion Danish kroner, or $33 billion. “Nobody forecast a 100-year-old company would grow more than 30 percent,” he said, seemingly torn between pride and amazement.

Persons: Lars Fruergaard Jorgensen, Jorgensen, ” Mr, ”, Wegovy Organizations: Novo Nordisk, Novo Nordisk’s, Nordisk Locations: Danish, United States, Copenhagen

Injection pens and boxes of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, November 21, 2023. REUTERS/Victoria Klesty/Illustration Acquire Licensing RightsSummaryCompanies Novo racing to meet demand for obesity drugsObesity market to reach $100 billion by 2030-analystsNew investment in France will boost capacity for obesity, diabetes drugsPARIS/LONDON Nov 23 (Reuters) - Novo Nordisk (NOVOb.CO) on Thursday announced a $2.3 billion investment to boost production of its wildly popular weight-loss and diabetes drugs at a site in Chartres, France as it races to meet soaring demand. There is a growing crisis in Europe over supply of diabetes therapy Ozempic, which uses the same ingredient semaglutide as the hugely popular weight-loss drug Wegovy, which is not yet widely available in Europe. Thursday's announcement comes after Novo earlier this month announced a $6 billion investment in its native Denmark to boost production. Analysts have estimated the obesity drug market will be worth as much as $100 billion by 2030.

Persons: Victoria Klesty, Danish drugmaker, Emmanuel Macron, Lars Fruergaard Jorgensen, Eli Lilly, Novo, Anna Ringstrom, Ludwig Burger, Terje Solsvik, David Goodman, Emelia Organizations: REUTERS, Novo Nordisk, WIN, French, Thomson Locations: Oslo, Norway, Victoria, France, PARIS, Chartres, Danish, Europe, Union, Germany, Belgium, Denmark, U.S, Paris

The company's research and development (R&D) engine is intact and therefore it is unlikely to do transformative deals soon, Jorgensen said. It was the latest in a series of similarly-sized deals the company has done this year. Last week, when reporting quarterly earnings, it forecast another year of double-digit sales growth for its two most popular drugs: weight-loss drug Wegovy and diabetes Ozempic. To keep up with demand, Novo is racing to increase production of those drugs, which contain the same active pharmaceutical ingredient, semaglutide, and are delivered in self-injection pens. A healthcare banker, speaking on condition of anonymity, told Reuters after the interview there were many companies in the cardiometabolic space with early-stage drugs that Novo Nordisk may be able to buy.

Persons: Lars Fruergaard Jorgensen, Wegovy, Jorgensen, Novo, Novo's, Jacob Gronholt, Maggie Fick, Terje Solsvik, Emelia, Barbara Lewis Organizations: Novo, Novo Nordisk, Reuters, KBP Biosciences, Nordisk, Pedersen, Thomson Locations: Novo, COPENHAGEN, Singapore, Copenhagen, London

As the company's fortunes soar on demand for its popular weight-loss medicine Wegovy, Jorgensen said Novo sought to acquire companies working on medicines in the areas where it is already focused. The company's research and development (R&D) engine is intact and therefore it is unlikely to do transformative deals soon, Jorgensen said. It was the latest in a series of similarly-sized deals the company has done this year. Last week, when reporting quarterly earnings, it forecast another year of double-digit sales growth for its two most popular drugs: weight-loss drug Wegovy and diabetes Ozempic. To keep up with demand, Novo is racing to increase production of those drugs, which contain the same active pharmaceutical ingredient, semaglutide, and are delivered in self-injection pens.

☆ EU proposal may accelerate pharma innovation decline, industry group says
▼ + stars: | 2023-11-06 | by ( Julia Payne | ) www.reuters.com time to read: +3 min

"Any changes to our incentives system would equally affect EU-based and foreign-based companies which bring medicines to the EU and, therefore, it would not put EU firms at a disadvantage," an EU Commission spokesperson said. Medication was the single biggest contributor to the EU’s trade surplus, with 235 billion euro ($252.13 billion) worth of exports in 2021. The EFPIA said small biotech companies have already moved to the United States and China. The Commission said its proposal would reduce new medicine approval times to 180 days from 400 days. Germany, Belgium and France would be the hardest hit by the proposed rules, the EFPIA said citing research by Dolon that it commissioned.

Persons: EFPIA, Lars Fruergaard Jorgensen, Jorgensen, Ozempic, " Jorgensen, Julia Payne, Lisa Shumaker Organizations: European Commission, European Federation of Pharmaceutical Industries, EU, Commission, Novo Nordisk, Thomson Locations: BRUSSELS, United States, China, Danish, Boston, U.S, Europe, EU, Germany, Belgium, France

☆ Timeline for supply limits on Novo Nordisk weight-loss drug unclear, US FDA says
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsSept 12 (Reuters) - The U.S. Food and Drug Administration said on Tuesday it was not clear when supply of lower doses of Novo Nordisk's (NOVOb.CO) Wegovy would normalize, backtracking from its earlier estimates to resume supply of the popular weight-loss drug this month. The FDA, in its drug shortage list, listed the 0.25 mg, 0.5 mg and 1 mg doses of the drug with limited availability and that the duration of shortage was "to be decided", while the larger doses of 1.7 mg and 2.4 mg were still available. The drug was approved for chronic weight management in people with obesity in 2021. Reporting by Leroy Leo in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Victoria Klesty, Lars Fruergaard Jorgense, Leroy Leo, Shinjini Organizations: REUTERS, U.S . Food, Drug Administration, FDA, Novo Nordisk, Thomson Locations: Oslo, Norway, August31, Victoria, U.S, Danish, Bengaluru

☆ Analysis: Wegovy launch in UK may underline Novo's need to get ahead of Lilly
▼ + stars: | 2023-09-10 | by ( Maggie Fick | ) www.reuters.com time to read: +5 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. Studies have demonstrated more weight loss than with Wegovy. Novo's type 2 diabetes drug Ozempic has been on the market in Britain since 2019. A Lilly spokesperson declined to comment on Wegovy's launch or when exactly it would launch Mounjaro for diabetes treatment. Studies have shown that, used alongside exercise and lifestyle changes, Wegovy led to 15% weight loss over 68 weeks, while Mounjaro led to more than 22% over 72 weeks.

Persons: Victoria Klesty, Eli Lilly's, Wegovy, Lars Fruergaard Jorgensen, Novo, Lilly, Mounjaro, Ozempic, Eli Lilly, Maggie Fick, Alexander Smith, Catherine Evans Organizations: REUTERS, Wegovy, Economic Co, Development, Reuters, National Health Service, stoke, NHS, Britain's Department of Health, Social Care, Diabetes, UBS, Novo, Thomson Locations: Oslo, Norway, August31, Victoria, Britain, British, Danish, United States, Denmark, Germany, Europe, England

☆ Big pharma's blockbuster obesity drug battle is just getting started, and it's headed for $100 billion
▼ + stars: | 2023-09-09 | by ( Bob Woods | ) www.cnbc.com time to read: +13 min

In this article LLYNOVO.B-DK Follow your favorite stocks CREATE FREE ACCOUNTOzempic drug to treat diabetes. Since Wegovy and Mounjaro have been on the market, "neither company can make the drug fast enough," she said. The Food and Drug Administration approved Ozempic in 2017 for diabetes and Wegovy in 2021 to treat obesity. Mounjaro, introduced in 2022 to treat diabetes, contains GLP-1, plus GIP, a similar appetite suppressor that can lead to weight loss. Coverage for Mounjaro ($1,023 per month) to treat diabetes varies based on an individual's insurance plan and drug benefits.

Persons: Eli Lilly, Novo's, Lilly's, Emily Field, Lilly, David Ricks, CNBC's Jim Cramer, Ozempic, Novo, Mounjaro, George Frey, Lars Fruergaard Jorgensen, Wajahat Mehal, Tom Carper, Bill Cassidy of, We've, Camilla Sylvest, there's, Sylvest, Cowen, What's, It's, Mike Mason, Amgen, Emmanuel Papadakis Organizations: Novo Nordisk, Pfizer, Amgen, Barclays, Nordisk, Drug Administration, Mounjaro, SVB Securities, Food and Drug Administration, Pharmacy, Reuters Novo, Novo, Wegovy, European Union, Medicare, Yale School, Metabolic, Congressional Black Caucus, CDC, pharma, American Medical Association, , Big Pharma, American Diabetes Association, Deutsche Bank Locations: Lilly, Denmark, Provo , Utah, U.S, European, Delaware, Bill Cassidy of Louisiana, Novo, Kalundborg, Hillerød, Boone County , Indiana

☆ Novo says Wegovy drug helps obese people with heart failure in trial
▼ + stars: | 2023-08-25 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

FILE PHOTO: A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The trial with 529 volunteers focused on a heart condition known as preserved ejection fraction, or HFpEF, where heart muscles stiffen and draw in less blood, mainly affecting overweight people. HFpEF accounts for about half of heart failure cases, with symptoms including shortness of breath and swelling of extremities. Showing specific medical benefits is crucial for Novo's push to move Wegovy beyond its image as a lifestyle drug. It is unclear, though, what conclusions regulators and physicians will draw from the STEP HFpEF results because other heart failure treatments are emerging.

Persons: Jim Vondruska, Wegovy, ”, Martin Lange, Danish drugmaker, Farxiga, Lars Fruergaard Jorgensen, Ludwig Burger, Jason Neely, Mark Potter Organizations: REUTERS, Novo Nordisk, Novartis, Reuters, Thomson Locations: Chicago , Illinois, U.S, Danish, Novo, United States, Europe, Germany

Wegovy is the first-to-market in a new class of highly effective weight-loss drugs. The self-injection drug has transformed the fortunes of Novo, whose shares have surged about 165% since Wegovy's U.S. launch two years ago. The lion's share may be claimed by frontrunners Novo and its U.S. rival Eli Lilly and Co (LLY.N). Last month, Novo launched Wegovy in Germany, its first big European market. Reporting by Maggie Fick and Jacob Gronholt-Pedersen Editing by Josephine Mason and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Novo Nordisk Lars Fruergaard Jorgensen, LUDOVIC MARIN, Lars Fruergaard Jorgensen's, Jorgensen, Eli Lilly, Wegovy, Novo, Maggie Fick, Jacob Gronholt, Pedersen, Josephine Mason, Mark Potter Organizations: Novo Nordisk, Chateau, BMI, Reuters, frontrunners Novo, Pfizer, Thomson Locations: Versailles, Paris, COPENHAGEN, Europe, Danish, United States, Denmark, Norway, Brussels, Wegovy, Germany

☆ Novo Nordisk CEO 'confident' Catalent will resolve Wegovy output problems
▼ + stars: | 2023-08-25 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

[1/3] A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsAug 25 (Reuters) - Novo Nordisk Chief Executive Lars Fruergaard Jorgensen said on Friday he was confident Catalent (CTLT.N) would resolves its problems making Novo's hugely-popular weight-loss drug Wegovy as the company scrambles to boost output to meet soaring demand. "I am confident in that," Jorgensen said at a Reuters Newsmaker event, when asked about the issues Catalent has had. Novo hopes to have a third external facility filling and finishing the injection pens by 2024, Jorgensen said. Even so, it will be "quite some years" before the company can satisfy the whole market for Wegovy, Jorgensen said.

Persons: Yves Herman, Lars Fruergaard Jorgensen, Jorgensen, Catalent, Novo, Maggie Fick, Josephine Mason, Mark Potter Organizations: REUTERS, Novo Nordisk, Reuters, Wegovy, Thomson Locations: Brussels, Belgium, Danish

Companies Novo Nordisk A/S FollowCOPENHAGEN, Aug 10 (Reuters) - Novo Nordisk's (NOVOb.CO) limits on U.S. supplies of starter doses of its hugely popular Wegovy weight-loss drug will last into next year even as the Danish drugmaker spends billions boosting output, its CEO told Reuters on Thursday. Earlier on Thursday, the company said it would continue to restrict U.S. supplies of starter doses of Wegovy as the company struggles to keep up with soaring demand. Novo has denied this, but when asked about this on Thursday Jorgensen said there may be shortages. The company expects to apply for regulatory approval for an expanded label indication in the U.S. and European Union later this year. "It'll take some time before we get it on label," Jorgensen said.

Persons: Lars Fruergaard Jorgensen, Thursday Jorgensen, Jim Vondruska, Jorgensen, " Jorgensen, Martin Lange, Nikolaj Skydsgaard, Jacob Gronholt, Josephine Mason, Jason Neely, Mark Potter Organizations: Novo Nordisk, COPENHAGEN, Reuters, REUTERS, Wegovy, Union, American Heart Association, Pedersen, Thomson Locations: Danish, Chicago , Illinois, U.S, Philadelphia, Copenhagen, London

☆ Novo Nordisk extends U.S. supply curbs on weight-loss drug Wegovy
▼ + stars: | 2023-08-10 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +3 min

The news came as the Danish drugmaker raised its full-year profit and sales forecasts for a second time. Wegovy is a weekly injection that can help patients to shed 15% of their weight alongside diet and exercise changes. Reuters has reported that larger doses are also in short supply, which Novo has denied. Many analysts had expected Novo to raise earnings guidance, given the huge U.S. demand for the weekly injection. The company also warned that it expected "continued periodic" supply constraints and drug shortages across a number of products and geographies.

Persons: Jacob Gronholt, Pedersen, Ozempic, Lars Fruergaard Jorgensen, Novo, " Jorgensen, Henrik Hallengreen Laustsen, Laustsen, Nikolaj Skydsgaard, Josephine Mason, Mark Potter Organizations: Novo Nordisk, REUTERS, Reuters, World Health Organization, Jyske Bank, Thomson Locations: Novo, Copenhagen, Denmark, U.S, COPENHAGEN, Danish

☆ Novo Nordisk to acquire obesity drug maker Inversago Pharma for up to $1 billion
▼ + stars: | 2023-08-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Novo Nordisk on Thursday said it will acquire Inversago Pharma, a privately held obesity drug maker, for up to $1.08 billion to broaden the Danish company's blockbuster weight loss portfolio. The deal's price depends on whether Inversago reaches certain development and sales goals, Novo Nordisk said in a release. Canada-based Inversago develops experimental therapies to treat people with obesity, diabetes and other conditions affecting the body's metabolism. Meanwhile, Novo Nordisk's Wegovy and Ozempic work by mimicking a hormone produced in the gut to suppress a person's appetite. Novo Nordisk intends to further investigate the potential of the oral drug for obesity and obesity-related complications.

Persons: Novo, Martin Holst Lange, Lars Fruergaard Jorgensen, availabilities Organizations: Novo Nordisk, Inversago Pharma, Novo, Novo Nordisk's Wegovy, Nordisk, Reuters Locations: Danish, Inversago, Canada, U.S

[1/3] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. It highlights the challenge Novo and rivals face in convincing European governments to pay for obesity drugs, which analysts say is likely to slow their take-up there. Germany's health ministry told Reuters there were no plans to change the law to cover weight loss drugs. DIFFERENT PICTUREIn the United States, the federal Medicare health plan for older Americans is prohibited from covering weight-loss drugs. Many health plans paid for by large employers will cover Wegovy, although they may require that patients try a rigorous diet programme or cheaper drugs first.

Persons: Jim Vondruska, Wegovy, Martin Merkel, Merkel, Duane Mellor, Novo, Lars Fruergaard Jorgensen, Michael Wirtz, Terence McManus, Phil McEwan, they've, McEwan, Patricia Weiss, Josephine Mason, Catherine Evans Organizations: REUTERS, Novo Nordisk, Wegovy, Europe's, pharma, European Union, Endocrinology Society, Aston University in, Reuters, Bellevue Asset Management, Barclays, Thomson Locations: Chicago , Illinois, U.S, Germany, FRANKFURT, Aston University in Birmingham, England, Wegovy, Europe, Danish, Berlin, Norway, Denmark, Britain, United States, Switzerland, Bellevue, EU, Cardiff , Wales, Frankfurt

A weekly injection of Wegovy leads to an average weight loss of around 15%, alongside changes to diet and exercise. That has effectively delayed the launch in most of Europe, following the recent launch of Wegovy in Denmark and Norway. Novo Nordisk has also had to overcome problems at a contract manufacturer. Novo Nordisk also said the number of people with obesity is forecast to rise to 1.5 billion by 2035. Research and development chief Martin Lange said that the company plans to investigate how to maintain the weight loss after stopping the drug.

Persons: Lars Fruergaard Jorgensen, Camilla Sylvest, Jorgensen, Wegovy, Martin Lange, Maggie Fick, Nikolaj Skydsgaard, Jennifer Rigby, Louise Heavens, Emma Rumney Organizations: pharma, Novo Nordisk, World Health Organisation, WHO, World Obesity Federation, Reuters, Research, Thomson Locations: COPENHAGEN, Europe, United States, U.S, Danish, Wegovy, Denmark, Norway, London, Copenhagen

☆ Novo Nordisk cuts some US supply of obesity drug Wegovy to cope with demand
▼ + stars: | 2023-05-04 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +3 min

SummarySummary Companies Novo halves supply of Wegovy starter doses in U.S. "To safeguard continuity of care, the supply of the lower Wegovy dose strengths in the US will be reduced temporarily," Novo said in a statement. Novo has faced supply constraints for its hugely popular Wegovy drug as a result of overwhelming demand, and has invested massively in increasing supply. Supply of starter doses in the U.S. would be cut by around 50% for "some months," Jorgensen added. Credit Suisse analysts said they were not surprised by the move, given the level of demand for the drug.

☆ Weight-loss drug maker Novo Nordisk beats earnings forecast
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

Companies Novo Nordisk A/S FollowCOPENHAGEN, May 4 (Reuters) - Danish drug developer Novo Nordisk (NOVOb.CO) on Thursday reported first-quarter operating profit above analyst forecasts, helped by sales in the United States of its hugely popular Wegovy weight-loss drug. Novo reported earnings before interest and taxes (EBIT) of 25 billion Danish crowns ($3.72 billion), above an average analyst forecast of 22.4 billion, according to a Refinitiv poll. Earlier this month, Novo, the second-most valuable company in Europe by market capitalisation, significantly raised its full-year operating profit and sales expectations on the back of strong demand for Wegovy. Novo on Thursday maintained the full-year growth guidance in local currencies. It specified that sales and operating profit growth reported in Danish crowns are now expected to be 6 and 9 percentage points lower than at local currencies, respectively.

☆ Novo Nordisk’s chunky valuation risks crash diet
▼ + stars: | 2023-05-04 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

LONDON, May 4 (Reuters Breakingviews) - Novo Nordisk’s (NOVOb.CO) weighty valuation could be headed for a crash diet. This lofty position is thanks to its domination of the obesity market via its Wegovy drug. Obesity sales for Novo are still only expected to reach $12 billion by 2027, according to estimates from Visible Alpha. It also remains unclear how fast the obesity drug market will grow. Novo reported earnings before interest and taxes of 25 billion Danish crowns ($3.72 billion), above an average analyst forecast of 22.4 billion, according to a Refinitiv poll.

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