Novo Nordisk’s CEO, Lars Fruergaard Jørgensen, expressed optimism about the company’s experimental weight loss pill, Amycretin, stating that it “could develop into a best-in-class medicine.” His remarks came during an interview on CNBC, following a significant surge in Novo Nordisk’s stock price fueled by promising results for the drug. This surge propelled Novo Nordisk’s market capitalization past that of Tesla’s, making it the 12th most valuable company globally.
The company disclosed to investors on Thursday that Amycretin demonstrated promising outcomes in an early-stage trial, with users experiencing an average weight loss of 13% after 12 weeks. In comparison, patients using the diabetes weight loss drugs Ozempic and Wegovy, which are both administered through injections, typically achieve about a 6% weight loss in the same timeframe.
Jørgensen emphasized that he does not foresee Amycretin entirely replacing Wegovy in the market. He explained that the company believes in the existence of different segments within the anti-obesity treatment market, catering to patients with varying preferences. While some patients may prefer injectables like Wegovy, Novo Nordisk sees a niche for Amycretin as a once-weekly injectable option, offering convenience to users.
It will take Novo Nordisk years to meet full demand for weight loss drugs
Jørgensen also highlighted the significant gap between the demand for weight loss drugs and the available supply, suggesting that it could take the industry several years to bridge this disparity.
He emphasized that in the United States alone, there are over 100 million people affected by obesity, yet Novo Nordisk currently only serves a small fraction of that population, approximately 1 million individuals. Jørgensen noted that addressing this demand requires substantial time and effort from the industry.
Novo Nordisk took steps to address the supply shortage by acquiring three facilities from Catalent, a drug manufacturing company, for $11 billion in February. This acquisition aims to alleviate the shortage of Wegovy, one of the company’s key weight loss drugs. Additionally, Novo Holdings, the company’s largest shareholder, agreed to acquire Catalent as part of this transaction. Novo Nordisk anticipates that these new facilities will enhance its production capacity starting in 2026 and beyond.
Since May 2023, Novo Nordisk has been implementing measures to manage the supply of Wegovy starter doses, ensuring that there is adequate availability for patients already using the medication.