Shares of Novo Nordisk (NVO 2.07%) rose more than 7% on Tuesday after the drugmaker received regulatory approval for its long-awaited GLP-1 pill in the U.S.
Image source: Novo Nordisk.
The pill is here
The U.S. Food and Drug Administration (FDA) approved the Danish healthcare leader's once-daily oral semaglutide treatment to reduce excess body weight and maintain weight reduction in adults.
The pill, which will be marketed under the brand name Wegovy, showed a mean weight loss of 16.6% in a clinical trial. That's similar to results achieved with the company's injectable Wegovy treatment, and with a comparable safety profile.
NYSE: NVO
Key Data Points
"As the first oral GLP-1 treatment for people living with overweight or obesity, the Wegovy pill provides patients with a new, convenient treatment option that can help patients start or continue their weight loss journey," CEO Mike Doustdar said in a press release.
Novo Nordisk intends to launch its Wegovy pill in the U.S. in early January.
A potentially enormous market
The pharmaceutical titan's new pill gives it a first-mover advantage in one of the fastest-growing segments of the global obesity drug market, which could approach a whopping $150 billion by 2035, according to investment bank Morgan Stanley.
Interest in oral versions of weight loss drugs like Wegovy is expected to be high, particularly among people who dislike shots and are more comfortable with tablet-based medications.
