China went from headwind to tailwind for Apple: Dan Ives
Receive free Novo Nordisk AS updates
We’ll send you a myFT Daily Digest email rounding up the latest Novo Nordisk AS news every morning.
Healthcare providers in the US wrote more than 9mn prescriptions for Ozempic and similar weight loss and diabetes drugs in the final quarter of 2022, as demand soars for the blockbuster treatments.
Trilliant Health, a healthcare analytics group, said in a report on Wednesday the volume of prescriptions for GLP-1 weight loss drugs like Ozempic — approved by US regulators in 2017 to treat patients with type 2 diabetes — and Wegovy increased 300 per cent from the start of 2020 to the end of 2022.
In that period, “just over half of patients taking these medications have a history of type-2 diabetes or have an associated medical visit with their prescription”, the report said.
The report underscores how the drugs have skyrocketed in popularity since debuting a few years ago. Danish drugmaker Novo Nordisk developed semaglutide, branded as Ozempic for people with diabetes and Wegovy for weight loss.
Since Ozempic was approved in the US, it has made up almost two-thirds of GLP-1 prescriptions.
Many US insurers will not cover the cost of the GLP-1 drugs. Nevertheless, there is still high demand, despite monthly costs of more than $900 for uninsured users of semaglutide. Participants taking a weekly injection of semaglutide lost an average of about 15 per cent of their body weight, according to Novo’s research.
The popularity of the drug class has surged, as celebrities publicised their effectiveness in producing dramatic and rapid weight loss, and social media testimonials fuelled greater interest. Analysts at Barclays expect the market for GLP-1s to reach $100bn by 2030.
Shares of Novo Nordisk and Eli Lilly, which also produces weight loss drugs, have shot up more than 75 per cent in the past 12 months. Chinese pharmaceutical companies are hoping to enter the market by developing domestic versions of the drugs.
Obesity treatments could bring down overall healthcare costs in the US. Medical research cited by the Centers for Disease Control and Prevention said obesity-related healthcare accounts for more than $170bn in excess medical costs on an annual basis. In August, Novo Nordisk said Wegovy was shown to cut the risk of serious events such as heart attacks and strokes by 20 per cent.
Read the full article here
