Bring On The Competition In Obesity Drugs: Novo Nordisk CEO Optimistic About Prolonged Patient Adherence to Obesity Drug Wegovy

Lars Fruergaard Jorgensen, CEO of Novo Nordisk A/S NVO, shared insights during the JPMorgan Healthcare conference, highlighting Wegovy's efficacy for weight loss, indicating that patients are likely to continue with Wegovy for more extended periods compared to older treatments commonly used.

Jorgensen emphasized the favorable effects observed among patients utilizing Wegovy, foreseeing these outcomes as incentives for continued usage. Although acknowledging it might be too early to definitively gauge, he expressed optimism about prolonged patient usage due to the encouraging impact experienced.

Citing an analysis of medical records and insurance claims data, it was revealed that 40% of individuals prescribed Wegovy in 2021 or 2022 persisted with the treatment after a year. 

This adherence rate notably surpasses the adherence levels observed with older medications, signifying a positive trend in patient commitment to the drug.

Novo Nordisk and Eli Lilly And Co LLY currently dominate the market for novel weight loss drugs, an area forecasted by analysts to potentially reach a value of $100 billion by the decade's end, Reuters noted. 

Despite this market dominance, Jorgensen welcomed competition, highlighting the company's focus on catering to the substantial global population of 14 million diabetes and obesity patients.

Additionally, Jorgensen acknowledged the approval of a competing drug, Zepbound, by Eli Lilly in November. Both drugs, falling under GLP-1 agonists initially developed for diabetes management, exert control over blood sugar levels, suppress appetite, and induce a sense of fullness.

Lastly, Jorgensen emphasized Novo Nordisk's exploration of both injectable and oral treatments, showcasing the company's once-daily weight-loss pill, demonstrating similar efficacy and safety to Wegovy in late-stage trials.

Price Action: NVO shares are up 0.02% at $106.97 during the premarket session on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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