Key insights
- Novo Nordisk's oral Wegovy pill has generated significant demand in the UK with a 10,000-person waitlist ahead of regulatory approval. This indicates strong consumer interest in non-injection weight-loss treatments, potentially boosting Novo Nordisk's global sales, especially as it also seeks approval in Europe. The success of oral formulations could signal a shift in the obesity drug market, impacting competitors like Eli Lilly and influencing healthcare sector valuations.
Investing.com - Novo Nordisk A/S’s (NYSE:NVO) oral Wegovy pill has attracted a waiting list of more than 10,000 customers at UK online pharmacy Chemist4U ahead of expected regulatory approval in the coming weeks, according to reporting from Bloomberg.
About three-quarters of those waiting for a consultation on the tablets have never taken weight-loss shots, Chemist4U Chief Executive Officer James O’Loan reportedly said Wednesday. Convenience and a dislike of injections are driving customer interest, O’Loan said. "Taking a tablet is a bit more acceptable" to some people than getting a shot, he said. "People are used to taking paracetamol."
Novo filed for approval of the pill in the UK late last year. The Medicines and Healthcare products Regulatory Agency has 210 days to decide on applications. The agency declined to comment on the timing of its decision. If approved, the UK would be the second market outside the US to get the oral version of the drug after its introduction in the United Arab Emirates earlier in June.
In the US, the lowest doses of the daily pill are priced at $149 a month, less than the $199 that Novo charges self-pay patients for the weekly Wegovy shot. In the UK, Chemist4U’s starting price for the shot is 99 pounds ($133). Patient queries center on pricing, O’Loan said.
The Novo pill is on track for approval in Europe by late July, after a positive recommendation from the European Medicines Agency last month. Novo and rival Eli Lilly & Co. (NYSE:LLY) are increasingly looking outside the US for growth, a shift that will make obesity medicines more accessible to millions around the world.
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