Novo Nordisk hopes to see US Wegovy sales recover soon

Written by Jacob Gunnett Pinsen and Magy in you

Wegenhagen/London CEO (Reuters) -Novo Nordsek expects to start sales of drugs in the United States in the United States in recovering the ban on copying a vehicle this month.

The American pharmacies that allowed the production of vehicle copies of Wegovy and Ozmpic were granted due to the lack of supply until May 22 to stop, after a review by the US Food and Drug Administration (FDA).

The compound is copying brand medications by combining, mixing or changing drug components.

Wegovy’s increasing sales have helped make Novo the most valuable company in Europe, at a value of $ 615 billion at its peak, but its market value decreased to about 310 billion dollars since its peak in June last year.

Medical prescriptions in the United States, its largest market, has not grown since February despite the increase in Novo supplies.

“It is expected that the growth in the second half of the year,” said Executive Director of Ers Fergard Georgessen in a call with reporters.

Investors are concerned that Novo I to the market is losing its progress to Eli Lily, whose American recipes have exceeded the divorce of obesity Zepbound Wegovy since mid -March.

Novo Nordisk said that Wikoufi sales in the first quarter were 17.36 billion Danish crowns ($ 2.64 billion), and it decreased by 13 % than the previous quarter, and less than 18.7 billion crowns expected by analysts.

“During the summer, it will be offered or silent for Wegovy,” said Emily Field, located in Barclays, CNBC. “Either medical prescriptions return, or people assume that Eli Lily will take this entire market.”

Based on a call with analysts, Novo’s executive officials said that the company has a strategy to win the market share that is currently being held by doubling pharmacies.

Novo shares were 3.4 % higher in 1300 GMT.

CEO Georgessen said that Novo estimated that about a third of the obesity drug market in the United States was captured by doubling pharmacies.

He said this had “erred” the company’s growth in the main American market. “It is unprecedented in our industry to have very large amounts of products that flow to patients who have not been approved,” he said. “We are really surprised by that.”

Yorgensen also said sales will benefit from a decision from the largest pharmacy management unit in the United States, CVS Health, to drop Zepbound from some of the lists of drugs that cover them to pay.

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