Health
Novo Nordisk’s new weight loss drug boosted by a pandemic-CEO
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Copenhagen, August 5 (Reuters)-The pandemic is increasing the number of people seeking treatment for obesity, Novo Nordisk’s top boss said Thursday. Throughout the year.
Sales of prescription drugs to treat obesity have failed to take off in the past due to moderate weight loss effects. However, new drugs have proven to be more effective, and obese people are choosing treatment.
“I think the (COVID-19) pandemic emphasizes the importance of treating obesity more than ever,” CEO Lars Fullergard Jorgensen told reporters Thursday.
“There is a general feeling of building that it is a disease and a disease that requires medical intervention.”
Although Wegovy was launched just six weeks ago, the company says its drug prescription has already reached the same level as Novo’s other obesity drug, Saxenda, launched in 2015.
Wegovy belongs to a series of new diabetes and obesity drugs known as GLP-1 analogs that mimic intestinal hormones that stimulate insulin production, reduce appetite, and increase patient satiety.
“Of the 650 million people living obese today, only 2% are being treated with prescription drugs, so obviously that’s a big opportunity,” Jorgensen said.
But he warned that it was too early to predict future growth.
Danish pharmaceutical companies surprised the market on Wednesday by raising their full-year forecasts, with second-quarter earnings above expectations.
The company’s share price rose 4.8% on Wednesday, trading at record highs, continued to rise on Thursday, and rose 3% in early trading.
Other major pharmaceutical companies, including Novo Nordisk’s rivals Eli Lilly and AstraZeneca, are also trying to open up the market for obesity treatments.
Report by Stine Jacobsen; edited by Anil D’Silva
Our criteria: Thomson Reuters Trust Principles.
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