Denmark-based pharmaceutical company Novo Nordisk has formally launched its super-successful obesity-treating medicine, Wegovy, in Thailand, the company’s local executive confirmed on Monday. The injectable medication is the company’s first launch in Southeast Asia, as it keeps pushing globally.
First launched in 2021, Wegovy gained significant momentum and propelled Novo Nordisk to the position of Europe’s highest valued listed company, with a record valuation of $615 billion. Already on sale in key markets such as the United States, Japan, and China, Wegovy’s latest expansion into Thailand further solidifies its international presence.
Early Approval and Competitive Advantage
“We already got the Thai FDA approval in 2023,” Novo Nordisk’s Thai subsidiary vice president and general manager Enrico Canal Bruland indicated. Bruland noted that Wegovy was introduced in Thailand before competitor Eli Lilly’s Zepbound obesity drug, showing Novo’s strong market strategy.
Though Bruland refused to disclose Wegovy’s prices in Thailand or the company’s plans to expand into other Southeast Asian nations, he did affirm that Wegovy prescriptions are already available at private hospitals and will soon be extended to public hospitals across the country.
Investment in Clinical Trials
“During the past four years, we have spent about 500 million Thai baht on clinical trials in Thailand,” Bruland said, highlighting Novo’s long-term commitment to the Thai market.
Novo Nordisk’s diabetes medication Ozempic, which has the same active ingredient as Wegovy, is currently on the Thai market. But Wegovy addresses weight loss directly, which makes it a valuable addition to the company’s product line.
Growing Obesity Problem in Thailand
Thailand faces growing concerns regarding obesity. According to the country’s health ministry, about 42% of the adult population is considered obese, and obesity rates among schoolchildren have jumped from 5.8% to 15% over the past two decades.
“If we then look at the economic effect that this has, roughly 1 percent of GDP goes towards health costs associated with obesity and lost productivity,” Bruland added. “We feel with this innovation, we can make a huge difference and hopefully curb this thing.”
With a population of about 66 million, Thailand is a key market for Novo Nordisk as it strives to meet global health issues associated with obesity.
