Novo Nordisk (NVO.US) warns: Combo generic weight loss drugs have killed 10 people
AInvestWednesday, Nov 6, 2024 4:30 am ET
1min read
NVO --

Novo Nordisk's (NVO.US) chief financial officer Karsten Munk Knudsen said on Wednesday that the company was aware of 100 hospitalizations and 10 deaths related to the company's popular weight loss and diabetes drugs in combination with generic copies.

Knudsen said the company had been monitoring "some combination products in the market and found multiple safety issues" as well as reports of hospitalizations and deaths.

Last month, Novo Nordisk asked the U.S. Food and Drug Administration to stop manufacturers of combination drugs from producing copies of Wegovy and Ozempic, saying the drugs were too complex for manufacturers to produce safely.

U.S. regulations allow drug companies to copy brand-name drugs that are in short supply by combining, mixing or changing the ingredients to meet demand. Wegovy and Ozempic both contain semaglutide as their main ingredient, and the drugs are in short supply in the U.S.

Despite being listed as "available" on the FDA's website for all doses of Ozempic and Wegovy, the drugs are still on the agency's shortage list.

Novo Nordisk said at the time that this was the result of its investment in expanding production capacity and "ongoing communication" with the FDA.

"I don't want to speculate today whether we are completely off the shortage list, but this is a first step and we hope to be off in the future," Knudsen said on Wednesday.

He said this was important because if a product is not on the shortage list, manufacturers of copies are restricted.

Knudsen reiterated that Novo Nordisk "is highly focused on product safety" and that is why the company is looking at combination products in the market and related safety issues.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.