Novo Nordisk's Wegovy Gets FDA Approval as Treatment for Heart Ailments
$Novo-Nordisk A/S(NVO.US$'s Wegovy (semaglutide) injection was approved by the U.S. Food and Drug Administration as treatment to reduce the risk of cardiovascular death, heart attack and stroke in adults.
That opens the door for wider insurance coverage of the drug that has fueled the stock's rally this year.
The stock has climbed 29% this year amid mounting optimism about the potential of Wegovy to accelerate Novo Nordisk's sales and profit growth. The stock was down 2% on Friday, tracking declines across the broader market.
"Wegovy is now the first weight loss medication to also be approved to help prevent life-threatening cardiovascular events in adults with cardiovascular disease and either obesity or overweight," John Sharretts, the director of the FDA's Division of Diabetes, Lipid Disorders, and Obesity. "This patient population has a higher risk of cardiovascular death, heart attack and stroke. Providing a treatment option that is proven to lower this cardiovascular risk is a major advance for public health.”
About 70% of American adults are affected by obesity and overweight, which can cause serious health issues that increase the risk for premature death and a variety of health problems, including heart attack and stroke, the FDA said in its press release.
Wegovy contains semaglutide, a glucagon-like peptide-1 (GLP-1) receptor agonist. The treatment should not be used in combination with other semaglutide-containing products or other GLP-1 receptor agonists, the FDA warned.
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Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
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