NVO - Novo Nordisk Surges Nearly 3% After Weight Loss Drug Wegovy Wins Approval in China | Benzinga
Novo Nordisk‘s (NYSE:NVO) weight loss drug Wegovy has received approval in China, representing a notable achievement for the Danish pharmaceutical firm. In response to this announcement, the company’s U.S.-listed stock is experiencing a surge of over 2% in pre-market trading on Tuesday.
What Happened: The Chinese National Medical Products Administration has given the green light to Novo Nordisk’s Wegovy for long-term weight management, reported CNBC. The drug will be available to patients with a body mass index of 30kg/m2, the threshold for obesity, and at least one weight-related comorbidity.
The approval comes at a crucial time as the patent for the drug’s active ingredient, Semaglutide is set to expire in China in 2026. Domestic drug manufacturers are also increasing competition in the market.
More than half of China’s ...