Novo introduces Wegovy in China

Novo Nordisk has launched its weight loss medication Wegovy in China following approval by Chinese authorities at the end of June. The first prescription is expected to be issued in Shanghai this week. To qualify for Wegovy in China, patients must have a BMI of at least 30 and suffer from at least one weight-related co-morbidity. According to Søren Løntoft Hansen, senior analyst at Sydbank, there are 184 million severely overweight Chinese individuals today, projected to rise to 500 million by 2045, indicating significant market potential. Even with Wegovy’s patent expiring soon in China and local copycat products emerging, Novo’s established reputation in diabetes care and network in China could cushion the impact. Initially, Novo anticipates marketing Wegovy to patients paying out-of-pocket, potentially followed by inclusion in subsidy schemes as production capacity expands. Novo announced in March a plan to invest over $500 million in expanding its Tianjin factory in China.