NVO - Novo Nordisk: Medicare Coverage To Unlock Another Big Market For Wegovy

2024-04-26 12:00:34 ET

Summary

• Novo Nordisk's weight loss drug, Wegovy, has received FDA approval for reducing the risk of major cardiovascular adverse events.
• Wegovy demonstrated a 20% reduction in the risk of major cardiovascular adverse events and a 19% reduction in the risk of all-cause death in the SELECT trial.
• The approval extends Novo Nordisk's leadership position in the obesity market and makes Wegovy eligible for Medicare coverage.
• Wegovy's cardiovascular benefits and Medicare coverage could contribute significant revenue growth for Novo Nordisk in the coming years.

Novo Nordisk A/S ( NVO ) secured the FDA approval for Wegovy, the weight loss version of the compound called semaglutide, for the indication of reducing risks of major cardiovascular adverse events ('MACE') in early March. Novo Nordisk is already enjoying significant commercial success with the type 2 diabetes version of semaglutide called Ozempic, and more recently, Wegovy is off to a strong start and would have higher uptake if it were not for the supply constraints as demand is exceeding supply....

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