Novo Nordisk's Weight-Loss Medications Under European Investigation Over Suicidal Risks Amid High Demand, Long Wait

The European Medicines Agency is reportedly investigating Novo Nordisk A/S's NVO weight-loss medications amid reports of suicidal risks associated with these drugs.

The investigation follows referrals from the Icelandic Medicines Agency, which reported two cases of suicidal thoughts linked to the drugs Saxenda and Ozempic.

An additional case of self-injury ideation associated with Saxenda was also reported.

The EMA is examining potential side effects in patients who have used medicines containing the active ingredients semaglutide or liraglutide for weight loss.

The recently popular weight-loss drug Wegovy, which also contains semaglutide, is also under scrutiny.

The EMA might extend its review to other drugs in the same GLP-1 receptor agonists class.

In response, Novo Nordisk stated that patient safety is a top priority and that they take reports of adverse events very seriously. Bloomberg reported that the company pointed out that GLP-1 receptor agonists have been used to treat type 2 diabetes for over 15 years and obesity for eight years.

Wegovy is currently available in the US, Denmark, and Norway and is set to enter the German market soon. The U.K. government is also considering making it widely available.

Due to a longstanding German law, Reuters reported, public health insurance will not cover the cost of weight-loss drugs, categorizing them as lifestyle choices, not health necessities. 

This means Wegovy's cost, with a U.S. list price of $1,350 per month, will not be reimbursed for 90% of Germans covered by public health plans.

Some health professionals argue that Wegovy could help curb the tide of weight-related diseases, which are expensive to treat.

Production issues and high U.S. demand have already slowed Wegovy's European rollout.

Despite the potential benefits of weight-loss drugs, Germany's health ministry has no plans to modify the law to include these medications.

Similar limitations are also present in Denmark and Norway, where public health insurance schemes will not cover the cost of Wegovy, citing its high cost relative to its benefits.

Price Action: NVO shares are up 0.15% at $155.25 on the last check Monday.