American depositary receipts of Novo Nordisk (NVO) climbed 1.5% in early trading on Tuesday after launching its popular weight-loss drug, Wegovy, in the U.K.
Novo Nordisk ADRs were up more than 40% year-to-date as demand for its weight-loss treatments surged, pulling ahead of LVMH to become Europe’s most valuable company by 澳洲幸运5官方开奖结果体彩网:market capitalization.
KEY TAKEAWAYS
- Novo Nordisk is launching its popular weight-loss drug, Wegovy, in the U.K.
- Given its supply constraints, it could take a few years for Novo Nordisk to ramp up production enough to meet demand.
- Novo Nordisk pulled ahead of LVMH to become Europe’s most valuable company by market capitalization.
Wegovy will be available through National Health Service (NHS) weight management services for people who meet the National Institute for Care and Excellence (NICE) criteria. The criteria require at least one weight-related comorbidity and high body mass index.
Given Wegovy's high demand and limited supply, the NHS has been allocated enough supply for around 50,000 patients. Alternatively, the drug can be bought privately through a health care professional.
The final price agreed with NHS is yet to be disclosed. In the U.S., the drug is available for $1,350 per dose once a month, while in Europe, it is available for around 170 to 300 euros ($190-$330) per month.
With supply constraints, it could take a few years before Novo ramps up enough production to satisfy demand. The company has taken measures to limit its availability in the U.S. and Germany. It also 澳洲幸运5官方开奖结果体彩网:recently bought Embark Biotech to enhance its range of weight loss treatments.
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