Novo Nordisk (NVO.US) warns: Ozempic supply shortage to continue through Q4

Danish drugmaker Novo Nordisk (NVO.US) warned that its popular diabetes drug Ozempic will remain in short supply until the fourth quarter of 2024. The company said the low-level supply shortage of Ozempic was due to increased demand and production capacity constraints at some manufacturing facilities. Novo Nordisk is reportedly working to increase the supply of its diabetes and weight loss drugs. The company has announced billions of dollars in investments to expand factories in Denmark, France and the US over the past 14 months. In June, Novo Nordisk said it expected to invest $6.8 billion in production this year, up from $3.9 billion in 2023. Novo Nordisk temporarily shifted some production of another diabetes drug, Victoza, to increase Ozempic's supply. The company said while Victoza's supply in the EU region has improved since the first quarter of 2024, there are still intermittent shortages in some countries.