Novo Nordisk Warns of Diabetes Drug Shortages Extending into 2024 Amid Strong Demand for GLP-1 Therapies

　　【Pharmaceutical Network Enterprise News】 The European Medicines Agency (EMA) announced on November 21 local time that Novo Nordisk stated that due to capacity constraints and increased demand, the shortages of its diabetes drugs "Ozempic" and "Victoza" would worsen in the fourth quarter of 2023 and continue into 2024. To increase the supply of Ozempic, the company decided to temporarily reduce the supply of Victoza.
 

Novo Nordisk stated in the letter that, in order to ensure the supply of Ozempic, the company has decided to temporarily reduce the supply of Victoza. This has resulted in intermittent shortages of Ozempic potentially continuing until 2024, while the shortage of Victoza will last at least until the second quarter of next year.
 

Novo Nordisk suggested in the letter that new patients should not be started on Victoza at least until the second quarter of 2024, with supply being prioritized for existing patients. The company has also restricted the availability of the 0.25 mg dose of Ozempic and recommended that doctors limit the number of new patients initiating the drug until supply becomes more sufficient in the first quarter of next year.
 

According to reports, Novo Nordisk's first-generation GLP-1RA, liraglutide injection (brand name: Victoza), is used to treat type 2 diabetes and entered the Chinese market in 2011. Another drug, semaglutide injection (brand name: Ozempic), is also used to treat type 2 diabetes but is often utilized for weight loss in Europe.
 

The history of Novo Nordisk can be traced back to 1923. Headquartered in Copenhagen, the capital of Denmark, its business covers disease areas such as diabetes, obesity, rare blood disorders, and endocrine disorders. This year, Novo Nordisk has gained global attention due to the strong performance of GLP-1 drugs like semaglutide in the weight loss field.
 

According to the Q3 report released by Novo Nordisk, the company's total revenue in the first three quarters of this year reached 166.398 billion Danish kroner, representing a year-on-year increase of 29%. Operating profit amounted to 75.808 billion Danish kroner, up 31% year-on-year. On a constant currency basis, revenue in the first three quarters increased by 33% year-on-year, while operating profit grew by 37%, consistent with the data published on October 13 local time. Notably, sales of Novo Nordisk's weight-loss drugs surged 174% (on a constant currency basis) in the first three quarters of 2023, reaching 30.4 billion Danish kroner, approximately $4.329 billion.
 

In terms of product sales, in the first three quarters, Ozempic sales reached 65.653 billion Danish kroner, a year-on-year increase of 53%; Wegovy (the English trade name for semaglutide's weight management indication) sales amounted to 21.729 billion Danish kroner, a year-on-year increase of 481%; and oral semaglutide, Rybelsus, achieved sales of 12.840 billion Danish kroner.
 

Based on the strong performance in the first three quarters, Novo Nordisk reiterated its previously raised full-year sales and operating profit forecasts in its financial report, expecting full-year sales growth of 32% to 38% and operating profit growth of 40% to 46%. The updated figures primarily reflect higher expectations for Ozempic's full-year sales in the U.S. and adjustments to the net sales of Ozempic and Wegovy in the U.S.
 

Disclaimer: In any case, the information or opinions expressed in this article do not constitute investment advice to any person.