Ozempic maker plans manufacturing blitz as market for the drug is expected to top $100 billion in 2030
Nov 24, 2023, 05:23 IST
- Novo Nordisk makes Ozempic and Wegovy, two hit drugs that treat obesity.
- Supply is a major issue right now, with the firm warning a European regulator it may ration Ozempic.
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Novo Nordisk, maker of the popular anti-obesity drugs Ozempic and Wegovy, is investing billions to ramp up production capacity amid surging demand.
Today, the company announced it will spend over $2.3 billion to expand a production facility in France, finalizing a deal with French President Emmanuel Macron. This investment will double the size of Novo's facility in Chartres.
Lilly recently gained FDA approval for a new anti-obesity medication Zepbound, which will compete directly with Ozempic and Wegovy.The investments to ramp up production come as the global market for anti-obesity drugs is expected to reach $100 billion a year by 2030, up from around $6 billion currently, according to Goldman Sachs.
With obesity rates rising globally, millions of patients are expected to turn to medications like Ozempic and Wegovy for weight loss in the coming years.