Novo Nordisk's fantastic voyage to the European pharma throne
AI-translated from the Chinese original · editorially reviewed
Licensed reprint: Pharma Statistics Insight
Over the past three years, global pharmaceutical companies have faced one challenge after another. Despite the bottlenecks the industry has hit amid the pandemic, industry transformation and drug development, some drugmakers have still performed impressively thanks to the strength of their product portfolios and standout individual drugs. By 2028, Roche is projected to take the revenue crown, while the best-selling drug title is expected to go to MSD's Keytruda (pembrolizumab).
The US FDA's key test: do the benefits outweigh the risks
The diabetes drug Ozempic and the obesity drug Wegovy have proven unstoppable, sending Novo Nordisk straight into the stratosphere.
Climbing and climbing, with no end in sight
Novo Nordisk raised its annual growth forecast to 32%-38%. That is another 5% above the estimate given in August, which itself was already 3% higher than April's.
High sales, high profits
Strong demand for Ozempic and Wegovy, combined with new price discounts in the US, has driven volumes sharply higher. The company also raised its profit forecast by 9%, to a range of 40% to 46%. Its expertise in this field has clearly paid off.
The company released these key figures early, with full third-quarter results due on November 2. Novo Nordisk is now the most valuable company in the EU by market capitalization.
Making sure every patient can get the drug
To avoid selling itself into a shortage, the company restricted Wegovy starter doses in May this year so that existing patients could keep getting the drug, and it expects the measure to remain in place into 2024.
All hands on deck
To boost output, Novo Nordisk enlisted Patheon, the CDMO subsidiary of Thermo Fisher, to help fill Wegovy injection pens. According to Reuters, the FDA had previously issued warnings to Novo Nordisk and another of its contractors, Catalent.
*CDMO: Contract Development and Manufacturing Organization
Striking while the iron is hot
Despite its unprecedented success, Novo Nordisk is not satisfied and wants to push semaglutide into additional indications. This month the company ended a trial early after semaglutide was shown to slow disease progression in patients with CKD and type 2 diabetes and to reduce the risk of kidney- and cardiovascular-related death.
*CKD: Chronic Kidney Disease
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