As the demand for semaglutide and similar weight-loss drugs surges, pharmaceutical companies are ramping up efforts to increase the available supply.
Novo Nordisk, a leading global healthcare company founded in 1923, is increasing production of its semaglutide weight-loss drugs. This follows in the footsteps of its competitor, Eli Lilly, which has reportedly resolved the shortages of its tripeptide drugs as of Monday. Eli Lilly manufactures the weight-loss drugs Moujaro and Zepbound.
According to its website, Novo Nordisk manufactures several brands of semaglutide drugs:
- Wegovy: A 2.4 mg injection used to treat chronic weight management in adults who are obese or overweight and have weight-related health issues, or who are obese and have known heart disease
- Ozempic: A 0.5 mg, 1 mg, or 2 mg injection used to treat diabetes
- Rybelsus: A 7 mg tablet used to treat diabetes
The company made a statement regarding the shortages that it is experiencing. Currently, Wegovy’s lowest dose of 0.25 is the only dosage marked with “limited availability.” Four other larger dosage amounts are available, and Ozempic and Rybelsus are still readily available.
“Increasing our manufacturing capacity is a key factor in our ability to produce more medicines and we’re investing heavily to ensure that we’re growing to meet demand and continuing to run our facilities 24 hours a day, 7 days a week,” Novo Nordisk said on its website.
While Novo Nordisk is catching up to competitor Eli Lily, the two companies are dominating the weight-loss market and are expected to expand more in the upcoming years.
Data analysts predict that the weight-loss drug market will be worth between $111 billion and $158 billion by 2033.
Both companies are investing heavily in increasing their manufacturing capacity.
Eli Lilly plans to construct a $2.5 billion facility in Germany and a $5.3 billion manufacturing plant in Indiana.
In 2023, Novo Nordisk invested in a $6 billion plan to increase production in Denmark and earlier this year announced plans to buy three pharmacy fill-finish sites in the U.S., Italy, and Belgium. In March, Novo Nordisk pumped $556 million into its Chinese manufacturing facility to boost production.