Novo Nordisk CEO Lars Fruergaard Jorgensen revealed the company’s strategy for launching its popular obesity treatment Wegovy in markets where its older weight-loss drug Saxenda has a strong presence, amid escalating competition from U.S. rival Eli Lilly.
With Lilly’s recent approval for its obesity drug Zepbound in key markets like the U.S., Britain, and the European Union, both Novo and Lilly are now offering the most effective weight-loss treatments available. Jorgensen disclosed that Novo is closely monitoring Lilly’s launches and adapting its strategy accordingly.
Acknowledging the competitive landscape, Jorgensen emphasized that both companies are likely assessing market dynamics and adjusting their approaches accordingly. He reiterated his stance that healthy competition benefits the industry and noted the potential for multiple drugs to coexist in the rapidly growing obesity drug market, projected to exceed $100 billion by 2030.
Novo Nordisk remains optimistic about Wegovy’s growth prospects, forecasting another year of double-digit growth as it ramps up supplies in the U.S. The company is directly competing with Lilly in markets like the U.S. and Germany, with Lilly set to launch in Britain imminently and having already entered Poland earlier this year.
Novo has strategically launched Wegovy in eight countries, prioritizing markets where its obesity business, particularly Saxenda, is well-established. Jorgensen emphasized the importance of leveraging existing market presence to facilitate smoother launches, as evidenced by the recent rollouts in Switzerland and the United Arab Emirates.
As demand for Wegovy surged, Saxenda experienced a sales boost, highlighting the complementary nature of Novo’s obesity drug portfolio. Jorgensen reiterated the company’s commitment to responsible expansion, particularly in European markets with single-payer healthcare systems. Novo aims to collaborate with governments to ensure equitable access to Wegovy for vulnerable patients.
Novo Nordisk’s proactive approach to competition and strategic market expansion underscores its dedication to advancing obesity treatment options while prioritizing patient access and affordability.
