Novo Nordisk launches weight-loss drug Wegovy in Australia

By Jacob Gronholt-Pedersen

COPENHAGEN (Reuters) - Novo Nordisk has launched its Wegovy weight-loss medicine in Australia, the drugmaker said on Thursday, making the hugely popular drug available in 12 countries.

Novo, which has struggled to meet runaway demand for its first-to-market drug, is seeking to gain a foothold in new countries ahead of rivals such as Eli Lilly.

It is a market that analysts estimate could be worth up to $100 billion by the end of the decade.

The Danish company said Wegovy was available in Australia in weekly injection of 2.4 milligram doses of semaglutide, the active ingredient in the drug.

Two out of three adults in Australia were overweight or obese in 2022, according to the Australian Institute of Health and Welfare.

The drug will not be subsidised under the Pharmaceutical Benefits Scheme, and patients will need a prescription from their doctor, Novo Nordisk said.

The company launched the drug in Spain and Canada in May. It is also available in the United States, Denmark, Norway, Switzerland, United Arab Emirates, Japan, Britain, Germany and Iceland.

(Reporting by Jacob Gronholt-Pedersen; editing by Louise Breusch Rasmussen and Jason Neely)