Prescriptions surge for Novo Nordisk’s Ozempic and similar drugs

Receive free Novo Nordisk AS updates

we will send you myFT Daily Digest Email summary of latest news Novo Nordisk There is news every morning.

Healthcare providers in the U.S. filled more than 9 million prescriptions for Ozempic and similar weight loss and diabetes drugs in the final quarter of 2022, as demand for the blockbuster drug surged.

Prescriptions for GLP-1 weight-loss drugs such as Ozempic (which was approved by U.S. regulators in 2017 to treat patients with type 2 diabetes) and Wegovy increased 300% from the previous year, healthcare analytics group Trilliant Health said in a report Wednesday. From the beginning of 2020 to the end of 2022.

During this period, “more than half of the patients taking these drugs had a history of type 2 diabetes or had been prescribed the disease,” the report said.

The report highlights how rapidly these drugs have gained popularity since their introduction a few years ago. Danish drugmaker Novo Nordisk developed semaglutide, branded as Ozempic, for patients with diabetes, and Wegovy for weight loss.

Since Ozempic was approved in the United States, it has accounted for almost two-thirds of GLP-1 prescriptions.

Many U.S. insurance companies will not cover the cost of GLP-1 drugs. Still, demand remains high despite monthly costs for uninsured users of semaglutide exceeding $900. According to Novo’s study, participants who received weekly injections of semaglutide lost an average of about 15% of their weight.

The drug’s popularity has surged as celebrities tout its effectiveness in dramatic and rapid weight loss and social media recommendations spark greater interest. Barclays analysts predict that the GLP-1 market will reach $100 billion by 2030.

Shares in Novo Nordisk and Eli Lilly, which also makes diet pills, have soared more than 75% in the past 12 months. Chinese pharmaceutical companies hope to enter the market by developing domestic versions of the drug.

Obesity treatment could reduce overall health care costs in the United States. Medical research cited by the Centers for Disease Control and Prevention shows that obesity-related health care results in more than $170 billion in excess medical costs annually. Novo Nordisk said in August that Wegovy has been shown to reduce the risk of serious events such as heart attack and stroke by 20%.