Novo Nordisk Expands Weight-Loss Medication Wegovy to Australia

Novo Nordisk has launched its weight-loss medicine Wegovy in Australia, making it available in 12 countries. The drug, containing semaglutide, aims to tap an overweight population but isn't subsidized under Australia's Pharmaceutical Benefits Scheme.

Novo Nordisk has launched its Wegovy weight-loss medicine in Australia, the drugmaker announced on Thursday, expanding its reach to 12 countries. The company aims to establish its presence in new markets ahead of competitors like Eli Lilly.

Analysts predict the market for such drugs could be worth up to $100 billion by year's end. In Australia, Wegovy will be available in weekly injections, although it won't be covered by the Pharmaceutical Benefits Scheme.

In 2022, two-thirds of Australian adults were overweight or obese, as per the Australian Institute of Health and Welfare. Novo Nordisk had previously launched Wegovy in Spain and Canada in May and plans availability in multiple other countries.

(With inputs from agencies.)