Advocacy for Wegovy: Denmark Signals Cost-Sharing Talks While Novo Spent Millions On Medical Community For Drug Promotion
Portfolio Pulse from Vandana Singh
Denmark's Health Minister, Sophie Lohde, has indicated a willingness to discuss cost-sharing for Novo Nordisk's weight-loss drug Wegovy. Novo Nordisk is working to convince European governments to subsidize the drug. In Denmark, a risk-sharing program already exists for severe obesity cases, but the largest private health insurer will stop reimbursing weight loss medication from January 2024. Novo Nordisk has spent $25.8 million over a decade promoting obesity drugs, with significant payments to physicians. NVO shares dropped 1.20% to $100.62.
December 01, 2023 | 8:20 pm
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Novo Nordisk may enter cost-sharing talks with Denmark for Wegovy, and has spent heavily on promoting obesity drugs. The company's stock price has recently fallen by 1.20%.
The news of potential cost-sharing for Wegovy in Denmark could be seen as a positive development for Novo Nordisk, but the high expenditures on drug promotion and the recent decision by Denmark's largest private health insurer to stop reimbursing weight loss medication may raise concerns about the sustainability of such expenses. The recent drop in NVO shares suggests a negative short-term impact.
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