Novo Nordisk To Offer Wegovy In China At Fraction Of USA Cost

Danish pharmaceutical company Novo Nordisk A/S NVO said it will officially launch its weight-loss drug Wegovy in China.

China’s National Health Commission survey revealed over half of its 1.4 billion population is overweight or obese.

Wegovy is the world’s first weekly glucagon-like peptide-1 receptor agonist for long-term weight management.

China’s National Medical Products Administration (NMPA) approved Wegovy in late June. It is intended for individuals with a body mass index (BMI) of 30 or higher who also have at least one weight-related complication.

Also Read: Ozempic/Wegovy Maker Maintains Q3 Sales Growth On Booming Demand

Initial sales of Wegovy in China will begin at a public hospital in Shanghai, where the first prescriptions are set to be issued this week, the financial media company Yicai noted.

The cost of a four-injection pack is reported to be around $194 (CNY 1,400) compared to around $1,349 per patient per month in the U.S.

A month’s prescription for Wegovy costs $186 in Denmark, $140 in Germany, and $92 in the U.K.

In the U.S., Novo Nordisk has been criticized for charging high prices for Wegovy and Ozempic.

While Novo Nordisk’s CEO Lars Fruergaard Jørgensen has defended the high U.S. prices of the company’s blockbuster drugs, Ozempic and Wegovy, stating that these medications are reducing the economic burden of obesity-related health issues.

Due to the tight supply, access to the medication will be somewhat limited initially, requiring patients to schedule outpatient appointments and undergo a medication assessment.

Currently, Wegovy is not included in China’s national medical insurance program.

Zhou Xiaping, Novo Nordisk’s global senior vice president and president for China, noted that the company is actively pursuing strategies to make the drug more affordable, including potential partnerships with commercial insurance providers.

The Bloomberg report adds that while many patients in the U.S. and Europe get some help with drug costs through insurance, most Chinese consumers will need to pay for the drug themselves.

Price Action: NVO stock is down 1.67% at $100.04 at the last check on Monday.

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Photo by Tobias Arhelger via Shutterstock