Prescriptions for Over 9 Million Weight Loss Pills Issued in Three Months
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Prescriptions for Over 9 Million Weight Loss Pills Issued in Three Months: Novo Nordisk Sparks Weight Loss Craze in the US
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Prescriptions for Over 9 Million Weight Loss Pills Issued in Three Months: Novo Nordisk Sparks Weight Loss Craze in the US.
According to a report released on Wednesday, healthcare providers in the United States issued over 9 million prescriptions for weight loss drugs like Wegovy, Ozempic, and similar medications in the last three months of 2022.
This report comes from the analysis firm Trilliant Health, and it reveals a 300% increase in quarterly prescription numbers for these weight loss drugs compared to 2020.
As of the end of 2022, Novo Nordisk’s Wegovy accounted for over 65% of the total prescriptions. Semaglutide, the primary active ingredient in Wegovy, is a GLP-1 (glucagon-like peptide-1) receptor agonist that stimulates insulin secretion, inhibits glucagon secretion to slow down gastric emptying, and reduces appetite, ultimately leading to blood sugar reduction and weight loss.
These data further confirm the high demand for such weight loss medications in the market. In addition to weight loss, Wegovy also offers other health benefits. This has led to strong sales of Wegovy across the United States since its launch in June 2021, as the obesity rate in the United States has reached 40%, with over 100 million Americans being overweight. However, Novo Nordisk has struggled to meet demand while increasing production capacity.
Therefore, the future growth rate of weight loss drug prescriptions will largely depend on the supply from pharmaceutical companies like Novo Nordisk and Eli Lilly, with Lilly’s Mounjaro also belonging to the GLP-1 drug category.
In the foreseeable future, weight loss drugs like Wegovy will continue to be difficult to obtain due to demand surpassing the pharmaceutical industry’s capacity to produce enough medication.
Doug Langa, Executive Vice President of Novo Nordisk North America, previously stated, “We continue to see tremendous demand for Wegovy.” While supply capacity is gradually expanding, the supply of low-dose Wegovy will still be limited to ensure continuity of supply to existing users.
Trilliant Health’s analysis report is based on insurance claims data from approximately 300 million Americans. However, the total number of GLP-1 prescriptions may still be underestimated, as some insurance plans do not cover weight loss drugs like Wegovy and require patients to pay out of pocket.
Reportedly, Ozempic is priced at up to $935 per month, while its weight loss counterpart Wegovy costs around $1,300 per month. It’s worth noting that these drugs require indefinite use to maintain weight, similar to cholesterol-lowering medications or blood pressure drugs, which may need to be taken for a lifetime.
Other pharmaceutical companies are also competing in the emerging weight loss drug industry. Analysts suggest that Lilly’s Mounjaro, once approved in the United States, has the potential to surpass Novo Nordisk’s medication.
German investment bank Berenberg believes that Novo Nordisk and Lilly’s products will drive rapid growth in the global weight loss drug market in this decade. Berenberg estimates that the market’s value could reach up to $85 billion by 2030.
Prescriptions for Over 9 Million Weight Loss Pills Issued in Three Months: Novo Nordisk Sparks Weight Loss Craze in the US
(source:internet, reference only)
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