financetom
Business
financetom
/
Business
/
Drug Compounders Fight Drugmaker Efforts to Push Them Out of Market for GLP-1 Medications
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Drug Compounders Fight Drugmaker Efforts to Push Them Out of Market for GLP-1 Medications
Nov 25, 2024 1:39 PM

04:09 PM EST, 11/25/2024 (MT Newswires) -- An industry trade group representing drug-compounding companies is asking US regulators to continue categorizing Novo Nordisk's ( NVO ) Wegovy, Ozempic, and other GLP-1 agonist medications as "currently in shortage," which would allow them to keep filling prescriptions for the popular weight-loss drugs' using their active ingredients.

Novo Nordisk ( NVO ) originally developed GLP-1 agonists like Wegovy to treat Type 2 diabetes by controlling glucose levels in the bloodstream in addition to working as weight-loss medications. GLP-1 drugs are generating outsized sales for the company, with GLP-1 diabetes sales growing by 32% year-over-year and obesity care sales growing by 32% during the three months ended Sept. 30.

The US Food and Drug Administration has categorized semaglutide, the active ingredient in Wegovy and Ozempic, as being in shortage since August 2022, allowing compounding firms to supplement demand.

Novo Nordisk ( NVO ) and Eli Lilly ( LLY ) , which also sells a GLP-1 medication, want the FDA to use its emergency powers to prohibit compounding, contending GLP-1 drugs are "demonstrably difficult to compound." In response, the Alliance for Pharmacy Compounding has been stepping up its efforts to maintain its share of the market, urging patients who take compounded GLP-1 and the prescribing doctors to contact the agency.

"We believe it's the only way to derail this effort by drugmakers to place GLP-1 drugs off limits for compounding," the trade group said on its website.

Price: 104.57, Change: -0.49, Percent Change: -0.47

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Equinor says it could cancel New York offshore wind project over Trump order
Equinor says it could cancel New York offshore wind project over Trump order
May 26, 2025
(Reuters) -The developer of a major U.S. offshore wind project warned that it will cancel the Empire Wind facility off the coast of New York if it cannot reach a resolution over a stop-work order issued by the Trump administration in the coming days. Molly Morris, president of the U.S. renewable energy arm of Norway's Equinor ( EQNR ), said...
Why Shopify (SHOP) Stock Hit A New 52-Week High Today
Why Shopify (SHOP) Stock Hit A New 52-Week High Today
May 26, 2025
Shopify Inc ( SHOP ) shares jumped 14.8% to $105.26 Monday afternoon. It was earlier announced the stock will join the Nasdaq-100 beginning May 19, replacing MongoDB. The move positions Shopify ( SHOP ) among the market's top tech names and could attract index-fund inflows. What Else: The e-commerce platform reported strong first-quarter results last Thursday, with revenue climbing 26.8%...
Gifols says on course to meet 2025 outlook as net profit triples
Gifols says on course to meet 2025 outlook as net profit triples
May 26, 2025
MADRID, May 12 (Reuters) - Grifols's net profit almost tripled from a year earlier, which the Spanish drugmaker said reinforced its confidence in meeting its full-year guidance. Reported group profit grew by 179% in the first three months of the year to 60 million euros ($66.41 million) while adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 14.2% to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved