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QUOTES-Novo Nordisk CEO on Wegovy prices, supplies and compounding
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QUOTES-Novo Nordisk CEO on Wegovy prices, supplies and compounding
Nov 9, 2024 11:15 AM

LONDON, Nov 6 (Reuters) - Novo Nordisk

reported forecast-beating quarterly sales of its popular Wegovy

weight-loss drug on Wednesday, sending its shares up nearly 9%.

Below are highlights of comments by CEO Lars Fruergaard

Jorgensen in an interview with Reuters:

CONFIRMS THE COMPANY HAS LIFTED US CURBS ON LOWER DOSES OF

WEGOVY IN PLACE SINCE MID-2023:

"In our guidance for the full year, you can assume that

there is a step up in the fourth quarter and that's partly

driven by increased products including Wegovy into the U.S..

"You can find different periods of times where you can say

it's plateauing but it's not because of plateaued demand, it's

simply because of the supply into the market."

ON WEGOVY PRICING IN THE UNITED STATES:

"Overall pricing in Q3 and Q2 is similar, and we see a

stable pricing environment where you enhance rebates year on

year to stay in the formulary.

"In this particular year,... we have a competitor launching

a product (and) enhancing rebates to align mid-prices on our

product... But that's a one-time change, so relative stability

between the quarters."

ON WEGOVY SUPPLIES:

"There's a one-to-one relationship between script data and

supply and we believe that with more supply into the U.S. market

that is going to lift the performance in the U.S.

"You will see that we will gradually be increasing the

volume produced in the future like we've done in the past... We

have tripled volumes over the last three years."

"We still have a situation where there are far more patients

who would like to have the treatment than what both Lilly and we

can supply."

WEGOVY SALES OUTSIDE THE UNITED STATES:

"It's clear that the international... sales of Wegovy were

significantly ahead of consensus because we are now launching in

more markets outside of the U.S.

"The key thing is that we will keep launching in more and

more international... markets and volumes will go in that

direction, but we'll also see more volumes going into the U.S.

market because we see an intact demand there and we're far from

saturating that demand."

ON COMPOUNDING:

"I'm really puzzled that in a market like the U.S. which is

a trusted regulated market that you can actually inject yourself

with a liquid product that is not regulated or approved or

inspected.

"It beats me to be honest when I consider all the

surveillance that we have our own production and also FDA has on

our operations."

"I think today it's going via the internet, health spas, and

stuff like that. It's not in the formal supply chain where we

sell our products. I think it's a separate channel, and I'm

quite alarmed by the prospect of the harm it can do to patients.

"The safety reporting is not done to the FDA but to states,

so states are monitoring this. I don't think we have seen the

real safety data yet. It's quite alarming, to be honest. It's

not something that's impacting our business as of today."

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