FRANKFURT, July 29 (Reuters) - Novo Nordisk has launched blockbuster weight-loss drug Wegovy in Germany, its first big European market, hoping Germans will pay hundreds of euros out of pocket for a drug that public health insurance plans are so far barred from covering.
The Danish drugmaker's share price has more than doubled in the two years since the drug debuted, turning Novo (NOVOb.CO) into Europe's second-most-valuable listed company after LVMH.
Among major providers, Allianz (ALVG.DE) says it will pay if a physician diagnoses a medical need, while Debeka said its plans exclude weight-loss treatments.
Novo is ramping up production to meet soaring demand in the United States, where the drug sells for as much as $1,350 a month.
Doctors say many Germans seeking to lose weight have already used Ozempic, a diabetes drug also made by Novo that is a lower dose version of the same ingredient as Wegovy.
Persons:
Wegovy, Debeka, Robert Koch, Ludwig Burger, Maggie Fick
Organizations:
Novo Nordisk, Novo, LVMH, Allianz, European Union, Robert Koch Institute, Thomson
Locations:
FRANKFURT, Germany, United States, Europe, Norway, Denmark, Danish, Novo, Wegovy, Frankfurt, London