US EditionNovo Nordisk says copycat compounders are hurting Wegovy sales, may take legal action
- Novo Nordisk, a leading Danish drugmaker, faces increasing competition in the GLP-1 agonist market, particularly from compounded versions of its blockbuster weight-loss drug Wegovy, impacting sales in early 2025.
- This situation arose because of high costs and shortages of branded treatments like Wegovy, which contains semaglutide, leading the FDA to declare a shortage and allowing compounding pharmacies to legally make copies, although the shortage declaration has since been lifted.
- Novo Nordisk, which built its business on insulin and has a 63% share of the GLP-1 agonist market, is now implementing a multi-pronged strategy, including legal action against compounders violating intellectual property and an ad campaign warning about non-FDA-approved versions, to combat this competition.
- At the annual general meeting on February 5, 2025, CEO Lars Fruergaard Jørgensen stated that Novo Nordisk analysis detected "impurities and even banned products" in some compounded products and that "patients should really check the products before they inject them."
- Despite a recent downgrade from StockNews.com on March 21st and a 2.1% stock decrease in mid-day trading, analysts still estimate long-term earnings growth of 24% annually, and the company is taking steps to reassure investors amid negative sentiment and market volatility.
11 Articles
11 Articles
Novo Nordisk says copycat compounders are hurting Wegovy sales, may take legal action
Novo Nordisk said Thursday that the rampant growth of the U.S.' compounded drug industry was hurting Wegovy sales, and warned it was considering legal action against companies it believes to be violating its intellectual property.
Wegovy sales took a hit this year. Novo's CEO blames off-brand competition
Sales of Novo Nordisk’s (NVO) blockbuster weight-loss drug Wegovy took a hit due to rising competition from off-brand, or compounded, versions of the treatment, according to the Danish pharma giant’s CEO Lars Fruergaard Jørgensen.Read more...
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