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Novo Nordisk's obesity drug Wegovy goes on sale in China / Photo: © GETTY IMAGES NORTH AMERICA/AFP
NYSE - LSE
Novo Nordisk's obesity drug Wegovy goes on sale in China
Novo Nordisk's blockbuster weight-loss drug Wegovy is now available for use in China, the company confirmed to AFP on Tuesday, as the Asian nation battles high rates of obesity.
The Danish pharmaceutical firm is the maker of two game-changing treatments for diabetes and obesity -- Ozempic and Wegovy -- propelling its emergence as Europe's most valuable company.
Wegovy was approved for use in China in June, and local media reported that the first prescription at a public hospital was issued in Shanghai on Monday.
A Novo Nordisk spokesperson confirmed to AFP on Tuesday that the drug was "now available in China" for the treatment of adults with obesity and those overweight with at least one weight-related comorbidity.
China's rapid economic development has driven health improvements in recent decades but that growth was also accompanied by an explosion in weight-related disorders.
Nearly half of all adults in the country are either overweight or obese, according to a peer-reviewed study last year that was covered by state media.
Local media reported that a month's supply of Wegovy will cost around 1,400 yuan ($193), compared to the reported US list price of $1,349.
Novo Nordisk last week posted a 21 percent rise in net profit to 27.3 billion kroner ($3.94 billion) in the third quarter, despite production constraints.
The company said it expected full-year sales to rise by 23 to 27 percent from a year earlier, revising its earlier forecast of 22 to 28 percent.
M. Taylor--BTZ
