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Chinese weight reduction medication scare Novo Nordisk

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Chinese weight reduction medication scare Novo Nordisk

Novo Nordisk Faces Challenge in China as Local Companies Develop Generic Versions of Main Drugs

Novo Nordisk A/S (NYSE: NGOs) is at present going through a significant problem in China, the place native pharmaceutical corporations are growing generic variations of their predominant medication for diabetes and weight problems.

According to a report by Reuters, no less than 15 Chinese drugmakers are engaged on growing medication much like Novo Nordisk’s Ozempic and Wegovy. The patent for the energetic ingredient of those medication is ready to run out in China in 2026.

Novo Nordisk is at present embroiled in a patent authorized battle in China, and an unfavorable court docket ruling might lead to an early lack of drug patent safety within the nation. This would make China the primary main market to strip Novo Nordisk of patent safety.

The potential inflow of generic variations of Ozempic and Wegovy in China comes at a essential time for Novo Nordisk, because the Chinese market is essential for the corporate as a result of excessive prevalence of weight problems and obese people within the nation. The approval of Ozempic in China in 2021 led to a big improve in gross sales for Novo Nordisk within the area.

Despite the competitors from native pharmaceutical corporations, Novo Nordisk can be going through challenges from international opponents. For occasion, Eli Lilly & Co (NYSE: LLY) just lately had its diabetes drugs Mounjaro permitted in China.

Novo Nordisk’s inventory has been performing effectively, with a year-to-date achieve of over 36%. However, the corporate’s market share may very well be impacted by the elevated provide of generic medication in China.

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The firm’s vice chairman, Maziar Mike Doustdar, has expressed doubts about some Chinese operators’ means to produce important volumes of generic medication. Novo Nordisk is awaiting a court docket determination on its patent case in China.

As the worldwide weight reduction drug market is predicted to achieve $150 billion by the early 2030s, the doorway of latest opponents out there might pose a big risk to Novo Nordisk’s market share.

Novo Nordisk shares closed 0.8% greater at $141 on Wednesday, with a 52-week vary of $75.56 to $142.41. The firm’s inventory gained 0.2% in after-hours buying and selling.

For extra updates on this matter, observe Calling Italy on social media channels equivalent to Twitter and Facebook.

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