Novo Nordisk's Weight-Loss Drug Wegovy Launches In Germany: Patients To Pay Out-of-Pocket

Novo Nordisk A/S's NVO revolutionary weight-loss medication, Wegovy, has hit the German market, its premier substantial European destination. The medication is already available in the U.S. and only in Norway and Denmark within Europe.

There are concerns about supply constraints due to non-obese individuals seeking prescriptions for vanity purposes, leading Novo to urge doctors to "prescribe responsibly" in a mid-July statement.

The pharmaceutical company anticipates that German consumers will willingly cover the drug's expenses as public health insurance is currently unable to cover it. 

Also Read: Novo Nordisk's Obesity Drug Saxenda Not Included In WHO's Essential Drug List.

A Novo spokesperson confirmed to Reuters that the first German patients have obtained their prescriptions, aligning with the previously stated plan to introduce the drug there by late July. 

Doctors and patients in Germany expect a high demand for weekly injections, anticipating patients to assume the starting cost of €170 ($190) per month, which could escalate beyond €300 as the treatment progresses. 

However, public health insurance, covering approximately 90% of Germans, will not subsidize the costs due to a longstanding law restricting them from covering weight-loss drugs. Coverage for Germans with private health insurance will vary.

Wegovy's German launch is seen as a positive development by patient advocates and physicians, as the country's adult obesity rate, at 18.5%, surpasses the European Union average of 16%.

Doctors have observed that many Germans attempting to lose weight have previously used Ozempic, a diabetes medication from Novo that contains a lower dosage of semaglutide, the same active ingredient found in Wegovy. 

Price Action: NVO shares are up 1.71% at $160.52 on the last check Monday.

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