 Novo
Nordisk's new weight-loss drug getting a boost from pandemic -CEO
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[August 05, 2021]
COPENHAGEN (Reuters) - The pandemic is
pushing more people to seek treatment for obesity, Novo Nordisk's top
boss said on Thursday, referring to strong sales of the newly launched
drug, Wegovy, which helped the drugmaker raise its earnings forecast for
the full year.
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 Sales of prescriptions drugs to treat obesity have failed to take
off in the past due to modest weight-loss effects. But newer drugs
are proving to be more effective, prompting people with obesity to
opt for treatments.
"I think the (COVID-19) pandemic has underlined the importance of
treating obesity more than ever," Chief Executive Lars Fruergaard
Jorgensen told reporters on Thursday.
"There is a general sentiment building that it is a disease and it
is a disease that takes medical intervention."
Although Wegovy was launched just six weeks back, prescriptions for
the treatment have already reached a similar level to Saxenda,
Novo's other obesity drug that was launched in 2015, the company
said.
Wegovy belongs to a range of new diabetes and obesity drugs known as
GLP-1 analogues, which by imitating a gut hormone that stimulates
insulin production, lower appetite and increase feelings of fullness
in patients.
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 "Of the 650 million living with
obesity today only 2% are treated with
prescription medicine so obviously it's a huge
opportunity," Jorgensen said.
He however, cautioned that it was still too
early to make predictions on future growth.
The Danish drugmaker on Wednesday surprised the
market by raising its full-year forecast and
posted second-quarter earnings that beat
estimates.
Its shares closed up 4.8%, trading at their
highest level ever, on Wednesday and continued
to tick up on Thursday, rising 3% in early
trade.
Other big pharma companies including Novo
Nordisk rivals Eli Lilly and AstraZeneca are
also looking to tap the market for obesity
drugs.
(Reporting by Stine Jacobsen; Editing by Anil
D'Silva)
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