Novo Wins China Approval for Wegovy Obesity Drug

China's drug regulator has approved Novo Nordisk's weekly semaglutide injection, branded as NovoCare, for long-term weight management. This approval grants the pharmaceutical company access to a significant market, given that China has the largest population of patients with obesity. The National Medical Products Administration (NMPA) has cleared the way for this treatment to be used by individuals with a BMI of 30 or higher, or those with a BMI between 27 and 30 who have at least one weight-related comorbidity.

Novo Nordisk sees China's expanding diabetes and obesity market as crucial for its growth. During a capital markets day event in March, the company highlighted its plans to tap into this market. The approval of NovoCare is a key milestone in these plans.

Previously, Novo Nordisk launched Ozempic, branded as NovoScan, for treating type 2 diabetes in adults in China. Approved in 2021, Ozempic achieved sales of $698 million last year. The company is now gearing up for the launch of NovoCare in China, targeting patients who are willing to pay out-of-pocket for the injectable treatment initially.

To meet the anticipated demand, Novo Nordisk announced an investment of $556 million in March to expand its sterile preparations facility in Tianjin, China. This expansion is part of the company's broader strategy to scale up production capacity in response to the new approval and the growing market needs.

In addition to its investment in China, Novo Nordisk disclosed earlier this week a plan to invest $4.1 billion to construct a second fill-finish facility in Clayton, North Carolina. This new facility represents one of the largest manufacturing investments in the company's history, underscoring Novo Nordisk's commitment to expanding its production capabilities and meeting global demand for its treatments.