Novo Nordisk faces increased generic competition in China for diabetes and obesity drugs Ozempic and Wegovy due to patent expiration for semaglutide in 2026.
Denmark's Novo Nordisk faces increasing competition in China as local drugmakers develop about 15 generic versions of its blockbuster diabetes and obesity drugs, Ozempic and Wegovy. With the patent for semaglutide, the active ingredient in both drugs, expiring in China in 2026, Chinese firms are capitalizing on this segment. The global market for weight loss drugs is predicted to reach $150 billion by the early 2030s.
June 05, 2024
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