Double-Edged Sword of Weight Loss Drugs: Wegovy's Use in Mental Health Raises Questions Amid Suicide Concerns
Portfolio Pulse from Vandana Singh
U.S. psychiatrists are increasingly prescribing Novo Nordisk's weight-loss drug, Wegovy, to patients who have gained weight due to medicines for mental disorders. However, health plans are introducing limitations due to increased associated costs, with Wegovy priced at $1,350 per month. The FDA has advised doctors to watch for signs of depression or suicidal thoughts in patients using the drug, following reports of patients experiencing suicidal thoughts after beginning treatment with Wegovy in Europe. Novo Nordisk's shares are down 0.09% at $158.19.
August 04, 2023 | 2:08 pm
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Novo Nordisk's weight-loss drug Wegovy is increasingly being used for mental disorder patients, but health plans are limiting its use due to high costs. FDA warns of potential depression or suicidal thoughts. NVO shares are down 0.09%.
The increased use of Wegovy for mental disorder patients could potentially increase sales for Novo Nordisk. However, the limitations introduced by health plans due to high costs could limit the drug's market penetration. Additionally, the FDA's warning about potential depression or suicidal thoughts could negatively impact the drug's reputation and sales. This combination of factors could explain the slight decrease in NVO's share price.
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