Reduced-weight version of semaglutide launched in Chinese market! Novo Nordisk A/S Sponsored ADR Class B(NVO.US) unlocks new growth engine.

The Danish pharmaceutical giant Novo Nordisk A/S Sponsored ADR Class B (NVO.US) has launched its highly successful "miracle weight loss drug" Wegovy (semaglutide) in the Chinese market. The price is much cheaper compared to the U.S. market, which means that Novo Nordisk A/S Sponsored ADR Class B has entered one of the largest and rapidly growing markets with one of its best-selling drugs. Previously, the "blood sugar version" of semaglutide (branded as Ozempic) had been approved in China, but only for the indication of diabetes. The arrival of Wegovy signifies the official entry of the "weight loss version" of semaglutide in the potentially huge Chinese market. On November 17, Novo Nordisk A/S Sponsored ADR Class B officially launched the weight loss version of semaglutide in the domestic market, which can achieve an average weight loss of 17%. According to media reports, a public hospital in Shanghai issued the first prescription to a 40-year-old man on Monday, indicating that Wegovy is classified as a prescription drug in China. Wegovy is also listed on several e-commerce platforms in China for private hospitals and clinics to order, where obese patients can register for clinical visits to assess their eligibility for treatment and prescription. The selling prices at these private healthcare institutions vary depending on the dosage, but according to Yicai and online list data, a monthly starting dose of 0.25 mg will cost 1400 yuan (equivalent to $193.31). Comparatively, this fixed price is significantly lower than the $1349 price of Wegovy in the U.S. Additionally, this price is also lower than some medicine selling prices mentioned by U.S. lawmakers criticizing the pricing of this Danish pharmaceutical company in some European markets. In a media interview, Novo Nordisk A/S Sponsored ADR Class B did not confirm the official selling price in the Chinese market, stating that the prices were listed by unauthorized online pharmacies selling Wegovy. A spokesperson mentioned that once the company completes the tendering process and all listing procedures, the prices in public hospitals will be publicly announced in each province's procurement system. Private Payment Required Despite this, many patients in the U.S. and Europe opt to at least partially rely on insurance providers to cover some medication costs. However, for now, Chinese buyers will largely have to pay out of pocket. Christine Zhou, Global Senior Vice President and President of China at Novo Nordisk A/S Sponsored ADR Class B, stated that the company is exploring ways to make the medication more affordable, including commercial insurance. Novo Nordisk A/S Sponsored ADR Class B announced the launch of Wegovy in China on Sunday, almost five months after the drug was officially approved in China. Ozempic, a blood sugar drug containing the same active ingredient as semaglutide, was officially approved in 2021 and included in the national medical insurance reimbursement list for the treatment of type 2 diabetes. In contrast, the newly launched Wegovy has not been included in the national medical insurance and is currently in the non-reimbursable category. With Novo Nordisk A/S Sponsored ADR Class B recently overcoming the supply shortage caused by high demand for weight loss drugs, their global sales continue to soar. Wegovy brought in sales of up to $2.5 billion for Novo Nordisk A/S Sponsored ADR Class B in the third quarter, significantly exceeding analysts' expectations and representing a 79% year-on-year increase. Huge Potential in the Weight Loss Drug Market Statistics show that the obesity rate in China is on the rise, with an estimated 85 million adults suffering from obesity by 2023. Globally, the World Obesity Federation (WOF) predicts that by 2035, over 4 billion people (more than half of the world's population) could suffer from varying degrees of obesity. A forecast report from the Wall Street giant Goldman Sachs Group, Inc. indicates that by 2030, the annual sales of the global anti-obesity drug market may increase to around $130 billion, higher than the bank's previous expectation of about $100 billion; the annual sales figure previously calculated by the Goldman Sachs Group, Inc. was only $6 billion. Novo Nordisk A/S Sponsored ADR Class B's main competitor, the U.S.-based pharmaceutical giant Eli Lilly and Company, has also received official approval for its weight loss drug in China. Meanwhile, some innovative biotechnology companies in China are also racing to develop competitive weight loss drugs. In recent years, Novo Nordisk A/S Sponsored ADR Class B, headquartered in Denmark, has attracted significant attention from global investors, partly due to its early launch of weight loss drugs compared to other top pharmaceutical companies worldwide and its superior weight loss effects compared to most competitors, endorsed by several global celebrities including Musk. This weight loss drug belongs to the GLP-1 class of drugs, and as early as June 2021, Wegovy under Novo Nordisk A/S Received approval from U.S. regulatory agencies. The market frenzy generated by this has propelled Novo Nordisk A/S Sponsored ADR Class B's stock price to skyrocket in the following years.Elevating, making this Danish pharmaceutical company the largest listed company in Europe by market value. The approval time for Liraglutide weight loss pills is significantly behind, with approval to sell the anti-obesity drug Zepbound only obtained in November last year."Bonjour, comment vas-tu aujourd'hui?" "Hello, how are you today?"