Novo Nordisk A/S NVO has reported that U.S. patients are staying on their Wegovy weight-loss medication for an average of six months.
What Happened: Doug Langa, Novo’s head of North America operations, shared this information during a call with analysts following the company’s adjustment of its full-year profit outlook due to weaker-than-expected quarterly sales of Wegovy.
Langa also expressed confidence that as supply shortages are resolved, the duration patients stay on the medication will extend to 12 months, Reuters reported on Wednesday.
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Why It Matters: According to a recent study, only 25% of patients prescribed Novo Nordisk’s weight-loss drugs, Wegovy and Ozempic, continue their treatment after two years. This data suggests a significant decline in long-term adherence to these medications.
Additionally, concerns have been raised about the potential for eating disorder risks associated with weight loss medications like Wegovy, as noted by psychologist Tom Hildebrandt.
Supply issues have also led some doctors to prioritize availability when prescribing these medications, leading to increased competition from Eli Lilly’s weight-loss drug, Zepbound.
On Wednesday, Novo Nordisk’s shares dipped by 2.94% in pre-market trading after the company reported a second-quarter net profit of 20.05 billion Danish kroner ($2.93 billion) and revised its operating profit outlook downwards.
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Photo by Tobias Arhelger via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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