Benzinga - by Vandana Singh, Benzinga Editor.
Novo Nordisk A/S (NYSE:NVO) says that despite earlier warnings from the Danish Medicines Agency about potential shortages of Wegovy, it does not anticipate a shortage of its weight-loss drug in Denmark.
The agency had warned of limited supply for the 1 mg injection pen from late May to mid-June and the 0.5 mg injection pen from mid-June to mid-July due to increased demand.
Also Read: What Are Pricing Strategies for Ozempic And Wegovy With Potential Medicare Coverage Expansion? Senate Committee Questions Novo Nordisk.
In both cases, the expected shortage was due to rising demand, the medicines agency said.
“Novo Nordisk is experiencing a high demand for Wegovy, which can result in periodic backorders of various doses of the product in Denmark,” Novo Nordisk said in a statement to Reuters.
“In the case of Wegovy FlexTouch 1.0 mg and 0.5 mg, the announcements from the Danish Medicines Agency are no longer current,” it said.
Wegovy is given by weekly injection. It starts at 0.25 mg of the active ingredient semaglutide and gradually increases to a maintenance dose of 2.4 mg.
Novo, struggling with supply constraints due to run-away demand for the hugely popular drug, said all doses were available in Denmark.
Earlier this month, as per a media report, online pharmacies and slimming clinics in Britain are reducing prices for Novo Nordisk’s Wegvoy and Eli Lilly And Co’s (NYSE:LLY) Mounjaro as initial supply shortages ease, a move driven by growing competition among retailers.
In April, Novo Nordisk warned that starter kits for its widely used diabetes drug Ozempic (semaglutide) would not be available in Germany during the second quarter.
Read Next: Novo Nordisk’s DoNordisk’sn Obesity & Diabetes Drug Market Backed by Strong Pipeline: Analyst Gives Outperform Rating.
Price Action: NVO shares are up 0.82% at $134.01 at last check Wednesday.
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