Novo Nordisk has established itself in the medicine market with patents that earn billions. Mainly due to the obesity drug Wegovy and the diabetes medicine Ozempic. Both consists of an important substance called semaglutide, and its patent already expires in China in 2026. This will open up the market for much cheaper Chinese copies of the famous drug.
Justin Wang, who is a partner in the global consulting firm L.E.K. Consulting – a specialist in the pharmaceutical industry, explains how the company can lose large parts of the otherwise huge billion-dollar Chinese market for so-called GLP-1 agents.
“It will not be surprising if the Chinese players take up to 30% of the market,” he tells the Danish media Finans.
Novo Nordisk is believed to have approximately 70% of the Chinese market for GLP-1 agents.
The Danish pharmaceutical firm recently became Europe’s most valuable company when its market value increased to DKK 424.7 billion.
Source: bt.dk
