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Novo Nordisk A/S’s obesity pill will allow it to tap into a massive population of patients that have not yet taken GLP-1s, the drugmaker’s chief executive said.
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The pill version of its blockbuster obesity shot Wegovy will expand the market for these drugs, CEO Mike Doustdar said at an Endpoints event in San Francisco during the annual JPMorgan Healthcare Conference.
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Together, Novo and rival Eli Lilly & Co are selling GLP-1 drugs to around 10 to 15 million patients in the United States, when the total number of people living with obesity in the country is estimated at about 110 million, Doustdar said.
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Novo won approval to sell the pill in the U.S. at the end of last year, a boost to the Danish drugmaker that has trailed Lilly in the race to capture the obesity drug market. Many patients who would benefit from a GLP-1 have not taken the medicine because of issues such as phobia of needles or a taboo around the injections, Doustdar said.
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Lilly said Monday it expects its highly anticipated weight-loss pill to receive U.S. regulatory approval as early as the second quarter of this year, slightly later than it signalled earlier.
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Both Novo and Lilly have also had to face off with compounders, who have offered cheaper knock-off versions of weight-loss shots. “We fought and still are fighting against knock-off products,” Doustdar said. Novo did not expect the rise of companies selling what he called “unsafe knock-off products.”
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Still, compounders “read the consumers better” than Big Pharma, he said. “They got the price a bit better,” Doustdar said.
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While Novo has beaten Lilly to market with a pill version of it’s obesity shot, Doustdar said the Danish company was also trying to be more competitive and gain existing market share from its rival.
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