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China is now one step closer to joining the boom in weight-loss drugs. <\/p>\n
The country\u2019s health officials approved the popular weight loss drug Wegovy, its manufacturer Novo Nordisk said on Tuesday. The Danish company can market the jab, administered weekly, to those who are overweight or obese, according to a WeChat statement<\/a>. The statement did not reveal the date of the launch or details on pricing.<\/p>\n Novo Nordisk shares rose almost 4% on Tuesday.<\/p>\n The approval lets Novo Nordisk into a huge market. China, the world\u2019s second largest economy and home to about 1.4 billion people, is estimated<\/a> to have the world\u2019s largest overweight and obese population. A national survey <\/a>from China\u2019s National Health Commission, conducted between 2015 and 2019, put China\u2019s overweight and obesity rate among adults at 34.3% and 16.4% respectively.<\/p>\n Ozempic, Novo Nordisk\u2019s anti-diabetes drug, has been available in China since 2021. Ozempic sales in China reached 4.8 billion Danish kroner ($452 million) last year, twice as high as 2022. Ozempic\u2019s total global sales were 95.7 billion Danish kroner ($9 billion) in 2023.<\/p>\n In its capital markets day in March, Novo Nordisk highlighted the markets of mainland China, Hong Kong and Taiwan as a growth area for the company. The company estimates that the number of people living with obesity in these markets will hit 479 million by 2045, a 161% increase from 2021. Those living with diabetes will rise to 174 million, a 24% increase, over the same period.<\/p>\n But Novo Nordisk doesn\u2019t have until 2045 to solidify its presence in China. <\/p>\n The company\u2019s patent on semaglutide, the active ingredient in Wegovy and Ozempic, will expire in China<\/a> in 2026, much earlier than in Europe and Japan (2031) or the U.S. (2032).<\/p>\n Novo Nordisk is also currently in a legal tussle<\/a> in China over the patent. In 2021, a Chinese court invalidated the company\u2019s patent following a challenge from a Chinese pharmaceutical company. Novo Nordisk has appealed the decision, with no further rulings yet made. <\/p>\n There are at least 15 generic versions of Ozempic and Wegovy in development by Chinese companies, Reuters reported<\/a> in early June. At least 11 Chinese semaglutide drug candidates are already in the final stage of clinical trials.<\/p>\n Novo Nordisk also faces competition from its U.S. rival, Eli Lilly. China approved<\/a> the company\u2019s anti-diabetes drug tirzepatide in May. Eli Lilly\u2019s obesity drug Zepbound is currently under review. <\/p>\n A surge in demand<\/a> for Novo Nordisk\u2019s diabetes and weight-loss treatments have helped to make the drugmaker Europe\u2019s most valuable company, ahead of ASML Holding, the Dutch manufacturer of chipmaking equipment, and the luxury house LVMH.<\/p>\n<\/div>\nNovo Nordisk has a short window <\/strong><\/h2>\n
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