Novo Nordisk A/S is launching its top-selling Wegovy obesity drug in China at a fraction of the US price, a key step in unlocking a big, fast-growing market for its blockbuster franchise.
Initial prescriptions for the drug are expected to be issued in Shanghai this week, Yicai news service reported Monday.
Wegovy is also listed as available for pre-orders on several e-commerce platforms where patients can register for clinical visits to assess their eligibility for treatment and prescriptions.
Prices vary by dosage, but a one-month supply of the 0.25 mg starter dose will cost 1,400 yuan ($193.31), according to Yicai and online listings.
That’s significantly lower than the $1,349 list price for Wegovy in the US. It’s also below prices in some of the European markets US lawmakers have cited when criticizing the Danish pharmaceutical firm over its pricing.
Private Payments
Still, while many patients in the US and Europe rely on insurance providers for at least a portion of the drug’s costs, Chinese buyers will largely have to pay out of their own pockets.
Wegovy isn’t reimbursable under China’s national health insurance program, which covers 95% of the country’s 1.4 billion people, and the authorities have ruled out coverage for weight-loss.
Novo is exploring ways to make the drug more affordable, including commercial insurance, Christine Zhou, the company’s global senior vice president and president for China, told Yicai.
Novo announced the China launch of Wegovy at an event Sunday, nearly five months after the medication was approved in the country.
Ozempic, a drug which contains the same active ingredient of semaglutide, was approved in 2021 and subsequently included on the state insurance reimbursement list for type 2 diabetes.
Global sales of both medicines, which target a hormone known as GLP-1, have continued to soar as Novo works through shortages caused by overwhelming demand.
Wegovy brought in $2.5 billion for Novo in the third quarter, exceeding analyst expectations.
China’s obesity rates are rising, with a 2023 study estimating around 85 million adults with the condition.
US-based Eli Lilly & Co., Novo’s main rival, has also gained Chinese approval for its weight-loss drug, while domestic biotech companies are working on competing candidates.
Novo has said it will limit the initial China launch for Wegovy to avoid global disruption.