Novo Nordisk A/S (NYSE:NVO) is one of the best affordable long term stocks to buy according to hedge funds. On February 5, Novo Nordisk A/S (NYSE:NVO) said it would take legal action against Hims & Hers after the telehealth company announced plans to sell compounded versions of Wegovy at $49 per month. Novo Nordisk called the move illegal mass compounding that threatens patient safety and said it would pursue legal and regulatory steps to protect patients and its intellectual property, noting it is the only maker of an FDA-approved Wegovy pill using SNAC technology for oral semaglutide absorption.
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On February 4, Novo Nordisk A/S warned that “unprecedented” pricing pressure would cause sales and profits to fall for the first time in years.
According to the company, the pricing pressure will affect its weight-loss drug Wegovy and related diabetes treatments. It said the pressure comes from increasing competition and aggressive negotiations by healthcare payers, which are pushing drug prices lower. The company pointed to increased competition from similar GLP-1 weight-loss treatments, including drugs from Eli Lilly. Regarding healthcare payer negotiations, the company said that government programs and private insurers are demanding deeper discounts and tighter reimbursement terms.
Reuters reported separately on February 4 that Novo Nordisk announced the U.S. Food and Drug Administration (FDA) has approved a pill version of Ozempic. The FDA approved Ozempic tablets in three doses for adults with type 2 diabetes to improve blood sugar control, the company stated. The company added that it has filed a supplemental drug application for a fourth (higher) dose and that the FDA will pronounce itself by the end of this year.
Novo Nordisk A/S (NYSE:NVO) is a Danish healthcare company specializing in diabetes care, obesity treatments, and rare disease therapies. Its core products include insulin, GLP-1 receptor agonists, and weight management drugs such as Wegovy and Ozempic.
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Disclosure: None. This article is originally published at Insider Monkey.
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