The Danish drug manufacturer Novo Nordisk is losing the patent for its popular weight loss drug semaglutide, sold as Wegovy for obesity and Ozempic for Type 2 diabetes. The patent expires Saturday in India, China and other heavy populated nations which opens the door for more affordable generic versions of the hugely popular GLP-1 medication.
Generic versions are already expected to be available in India this weekend and will be available in the coming months in Canada, Brazil, Turkey and South Africa, according to the New York Times.
This significant development means that starting this weekend, pharmaceutical companies in countries where the patent expires can begin producing and selling generic forms of the drug. As a result, millions more people may have access to these important medications at reduced prices, potentially transforming diabetes and obesity treatment options in developing regions. The drugs have also been shown to help prevent heart attacks and stroke.
The patent expiration is another blow for Novo Nordisk which saw its global market share slide in recent years as competition soared, particularly from the American drug manufacturer Eli Lilly.