Novo’s diabetes drug faces competition in China

Eli Lilly’s diabetes medication, containing the active ingredient tirzepatid, has been approved by Chinese authorities as reported by Reuters. This medication, part of Eli Lilly’s Mounjaro and weight loss product Zepbound, is only approved for treating diabetes in China. Novo Nordisk’s popular diabetes drug, Ozempic, was approved in China in 2021, leading to a significant sales increase, totaling 4.8 billion DKK in the Chinese market last year. Both Novo and its rival Eli Lilly are striving to meet the growing demand for diabetes and obesity treatments, hence they are scaling up production. Novo Nordisk has invested heavily in new production facilities, allocating 45 billion DKK for the current year, nearly four times its investment in 2022. During a recent press conference, Novo Nordisk stated uncertainty about when they can fulfill all demand. Novo’s weight loss drug Wegovy is not yet approved in China, but it may happen this year, albeit with a limited supply.