The launch of a new oral weight-loss medication is poised to dramatically expand access to obesity treatment, reaching a vast patient population hesitant to use injectable drugs, according to the head of pharmaceutical giant Novo Nordisk A/S.
Pill Form Seen as Key to Market Expansion
Novo Nordisk's chief executive, Mike Doustdar, stated that the pill version of its blockbuster obesity drug Wegovy will allow the company to connect with a massive number of patients who have so far avoided GLP-1 medications. He made these remarks at an Endpoints event in San Francisco, held alongside the annual JPMorgan Healthcare Conference.
Doustdar highlighted that Novo and its main rival, Eli Lilly & Co, currently serve an estimated 10 to 15 million patients in the United States with their GLP-1 drugs. This figure stands in stark contrast to the approximately 110 million Americans living with obesity, representing a significant untapped market.
The executive pointed to key barriers that have prevented wider adoption, including a fear of needles and a social stigma associated with injections. The oral format is expected to overcome these hurdles, opening the door to new demographics of patients.
Regulatory Approval and Competitive Landscape
Novo Nordisk secured U.S. regulatory approval for its obesity pill in the final months of 2023. This approval provides a crucial boost for the Danish company, which has been competing fiercely with Eli Lilly for dominance in the lucrative weight-loss drug market.
While Novo has beaten Lilly to market with an oral formulation, Doustdar acknowledged the company is also focused on being more competitive and capturing existing market share from its rival. Meanwhile, Eli Lilly announced it expects its own highly anticipated weight-loss pill to receive U.S. approval as early as the second quarter of this year, a slight delay from earlier projections.
The Challenge from Compounders
Both pharmaceutical titans face another challenge: competition from compound pharmacies. These entities have offered cheaper, compounded versions of the popular weight-loss injections.
"We fought and still are fighting against knock-off products," Doustdar said, noting that Novo did not anticipate the rise of companies selling what he termed "unsafe knock-off products." He conceded that compounders had initially understood consumer desires better than large pharmaceutical firms, particularly on pricing.
Despite these challenges, the introduction of a convenient pill is set to redefine the obesity treatment landscape, potentially bringing life-changing medication to millions more patients across North America and beyond.
