Two weeks after approval, Novo Nordisk’s new Wegovy weight loss pill is available nationwide in the USA – thereby driving up the price of Novo Nordisk shares.
The tablet – an oral version of the popular Wegovy shot – is available at over 70,000 US pharmacies such as CVS and Costco, as well as various telemedicine providers such as Ro, LifeMD, Weight Watchers, NovoCare Pharmacy and GoodRx. The Danish pharmaceutical company Novo Nordisk announced this in a press release yesterday. The Novo Nordisk share then rose sharply at the start of the week on its home stock exchange in Copenhagen and ultimately closed 4.99 percent higher at DKK 346.75. The strong price gains continued on Tuesday: the Novo Nordisk share ultimately gained a further 4.99 percent to DKK 364.05.
The US Food and Drug Administration (FDA) approved the drug on December 22nd. The once-daily tablet is the first oral GLP-1 weight loss product on the market. Competitor Eli Lilly recently applied for US approval for its own GLP-1 weight loss tablet.
The Wegovy tablet is sold at a price of $149 per month for the starting dose of 1.5 milligrams. The 4-milligram dose is also available for $149 per month until April 15, after which the price increases to $199 per month.
According to the company, the highest doses of 9 and 25 milligrams will cost $299 per month.
Studies on the Wegovy tablet have shown that patients lose an average of 16.6 percent of their weight when taken consistently over 64 weeks, provided that the intake is accompanied by a reduced-calorie diet and more exercise.
Analyst Richard Vosser from JPMorgan estimates that the Wegovy pill will generate sales of $750 million in the US this year. Overall, the expert predicts a decline in sales of 10 to 15 percent for the weight loss product on the US market in 2026. Expected price declines are unlikely to be offset by increasing volumes.
DOW JONES / dpa-AFX