Chinese approval unlocks huge new market for Wegovy

Danish drugmaker Novo Nordisk’s (NOV: N) GLP-1 receptor agonist Wegovy (semaglutide) has been approved in China for long-term weight management

This follows the 2021 approval of the same drug in China—under the brand name Ozempic—as a treatment for diabetes, with Ozempic’s Chinese sales totalling nearly $690 million last year. 

The scale of the inevitable rise in sales following the obesity approval will likely depend on Novo Nordisk’s ability to keep up with demand, both in China and across the world. The company continues to invest significantly in manufacturing as it attempts to do so.