Novo Nordisk (NYSE: NVO), a leading diabetes company based in Denmark, has reportedly informed investors that its anti-obesity drug Wegovy (semaglutide) is anticipated to receive approval and launch in China by the end of this year. Christine Zhou Xiaping, the head of Novo Nordisk’s China business, shared this update during an investor meeting, as reported by Reuters. The drug is planned to be initially introduced in the self-pay market segment in China.
Wegovy was launched in Japan in February of this year and is currently available in eight global markets, following its first approval in the United States in 2021. Novo Nordisk is eager to introduce Wegovy in China, the largest market in Asia, especially since the drug’s patent is set to expire in the territory in 2026. The company is also in the process of appealing an earlier decision by the China National Intellectual Property Administration (CNIPA), which declared the drug’s China patent to be invalid.- Flcube.com
