Shares In Novo Nordisk Plunged As Much As 16% On Monday After The Company Disclosed It Will Not Be Able To Meet Us Demand For Its Obesity Drug Wegovy (Semaglutide) In The First Half Of 2022. According To The Drugmaker, A Contract Manufacturer That Was Filling Syringes For Wegovy Pens Has Temporarily Stopped Deliveries Due To Unspecified "Issues" With Good Manufacturing Practices (Gmp).Novo Nordisk Says It Will Prioritise Patients Who Have Already Initiated Treatment With Wegovy, Which Means It Expects "Few New Patients" Will Start Treatment With The Drug. However, The Company Anticipates Being Able To Meet Us Demand In The Second Half Of 2022, Having Previously Estimated It Would Do So At The Beginning Of The Year.Plan In PlaceThe Once-Weekly Glp-1 Receptor Agonist Was Approved By The Fda In June As An Adjunct For Chronic Weight Management In Adults With A Body Mass Index (Bmi) Of ?30, Or Those With A Bmi ?27 Plus At Least One Weight-Related Comorbidity. During Its Quarterly Results Presentation Last Month, Novo Nordisk Revealed That Initial Demand For The Drug In The Us Had "Significantly Exceeded" Expectations.Novo Nordisk Declined To Name The Contract Manufacturer In Question, But Said The Issues Concerned A European Site Of A Large International Company That It Believes Has A "Good Plan In Place" To Address The Matter. Wegovy Is Also Under Review In The Eu, Where Recently The European Medicines Agency'S Committee For Medicinal Products For Human Use Issued A Positive Opinion.Discover Our New Scientific Area Weekly NewslettersStay On Top Of Critical Developments In Top Fields Of Interest. Learn More.Sponsored By Firstword PharmaJeopardises Leg-Up On LillyJp Morgan Analysts Suggested That The Slowdown Would Give Novo Nordisk Less Time To Establish A Market Foothold Before A Potential 2024 Launch Of Eli Lilly'S Tirzepatide For Obesity (See Viewpoints: Eli Lilly Forced To Watch And Wait As Wegovy Steals A March). Tirzepatide, A Dual G1P And Glp-1 Receptor Agonist, Is Currently Under Review For Types 2 Diabetes, But Is Also Being Tested In The Phase Iii Surmount-1 Trial To Help With Weight Loss In Overweight And Obese Individuals. That Study Is Expected To Complete In 2024. However, Novo Nordisk'S Chief Financial Officer Karsten Munk Knudsen Dismissed The Analysts' Suggestion, Saying "There Should Be Sufficient Space For Both Agents In The Market."Earlier This Month, Novo Nordisk Announced Plans To Invest More Than Dkk 17 Billion ($2.6 Billion) To Expand Its Manufacturing Capabilities In Kalundborg, Denmark, Where It Currently Produces Products To Treat Obesity And Diabetes. Meanwhile, The Company Stated The Supply Challenges Will Not Impact Its Previously Communicated Financial Outlook For 2021. It Plans To Provide Its Forecast For 2022 At Its Next Earnings Call In February. Last Month, The Company Forecast Slower Sales In 2022 Due To The Impact Of China'S Volume-Based Procurement Programme On Its Insulin Products.
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