Novo Nordisk weight-loss drug Wegovy launched in Germany, first big EU market
By Ludwig Burger and Maggie Fick
FRANKFURT (Reuters) — Novo Nordisk (NYSE:NVO) has launched blockbuster weight-loss drug Wegovy in Germany, its first big European market, hoping Germans will pay hundreds of euros out of pocket for a drug that public health insurance plans are so far barred from covering.
The drug, shown to help patients reduce body weight by around 15% when used along with exercise and lifestyle changes, is already available in the United States, but in Europe is so far on sale only in small markets Norway and Denmark.
A spokesperson for Novo confirmed on Saturday that German patients had received their first prescriptions, in line with previously announced plans to launch the drug there at the end of July.
The Danish drugmaker's share price has more than doubled in the two years since the drug debuted, turning Novo into Europe's second-most-valuable listed company after LVMH.
Doctors and patients in Germany have told Reuters they anticipate high demand for the weekly injections, with many patients prepared to take on the cost, starting at 170 euros ($190) a month and rising to more than 300 euros as treatment requires the dosage to increase.
Public health insurance plans, which cover about 90% of Germans, will not foot the bill, under a decades old law that bars them from covering weight-loss drugs.
For the 10% of Germans with private health insurance, coverage will vary. Among major providers, Allianz (ETR:ALVG) says it will pay if a physician diagnoses a medical need, while Debeka said its plans exclude weight-loss treatments.
Patient advocates and physicians have welcomed the arrival of Wegovy in Germany, where 18.5% of adults are obese, above the European Union average of 16%.
The Robert Koch
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