The FDA has given the green light for a new pill designed for weight loss, just in time for those New Year resolutions.
Wegovy has earned the distinction of being the first oral medication of its type to receive approval from the US regulatory body, marking a significant milestone for weight loss medications, according to Novo Nordisk, the pharmaceutical company behind it.
Up until now, similar treatments required injections, but Wegovy offers the convenience of a pill.
While injections are known for their efficacy, they demand sterile needles for each use, proper administration skills, and are generally less pleasant than swallowing a pill.
The new medication is anticipated to arrive in the US market this month, just as many individuals plan to focus on ‘losing weight’ as part of their New Year’s resolutions.
So, what will be the price of this new drug?
The production costs for pills are lower compared to injections, making the pill a more economical option.
The current price for the lowest dose of the pill is $149 per month, but prices for higher doses have yet to be disclosed.
This is a considerable saving compared to the Ozempic injection, which is priced at $349 per month for lower doses, and a 2mg dose costs $499 monthly for existing users.
While Ozempic is not specifically approved as a weight loss drug, it is used to treat Type 2 diabetes and can suppress appetite, aiding weight loss when paired with a healthy lifestyle.
However, the new pill has received FDA approval specifically for weight management, with the highest dose prescribed for daily use.
Novo Nordisk conducted trials that showed about a third of the 1,300 participants losing 20 percent or more of their body weight over a 64-week period.
During the trial, the average weight loss among participants was 16.6 percent, according to Novo Nordisk.
Novo Nordisk’s CEO, Mike Doustdar, stated: “Patients will have a convenient, once-daily pill that can help them lose as much weight as the original Wegovy injection.”
He further commented, “As the first oral GLP-1 treatment for people living with overweight or obesity, the Wegovy pill provides patients with a new, convenient treatment option that can help patients start or continue their weight loss journey.”
Eli Lilly, another major pharmaceutical company, is also planning to introduce a similar pill.
Following the announcement of the new treatment, Novo Nordisk’s share prices saw a 10 percent surge during after-hours trading in New York.