Novo Nordisk Star Product Smegglutide has been approved in China for long-term weight loss management.
On June 25th, Novo Nordisk announced that the National Medical Products Administration (NMPA) has recently officially approved the launch of a new indication for Smegglutide Injection (trade name: Novo Nordisk), which is suitable for long-term weight management of adult patients on the basis of controlling diet and increasing physical activity. Patients with an initial body mass index (BMI) greater than or equal to 30kg/m2 (obesity); Or between 27kg/m2 and 30kg/m2 (overweight), with at least one weight related complication present, such as hyperglycemia, hypertension, dyslipidemia, obstructive sleep apnea, or cardiovascular disease.
As of now, Smegglutide is the world's first and only weekly glucagon like peptide-1 receptor agonist (GLP-1RA) for long-term weight management, capable of achieving an average weight loss of 17% (16.8kg). Regarding the commercial launch of the weight-loss version of Smegglutide, Novo Nordisk told Time Finance, "Since its approval, we have officially launched the drug supply process according to the plan, and will bring this heavyweight product into the Chinese market as soon as possible to benefit obese patients."
In recent years, the obesity rate in China has skyrocketed, and obesity and related chronic diseases have become a major public health issue in China and globally. The Consensus of Experts on Obesity Prevention and Control among Chinese Residents shows that currently, more than 50% of Chinese adults are overweight or obese. By 2030, the combined prevalence of overweight/obesity among Chinese adults (≥ 18 years old) will reach 65.3%.
The active ingredient of Novoying is Smegglutide, which extends its half-life to 7 days and is administered once a week. From the perspective of its mechanism of action, Smegglutide, as a GLP-1 receptor agonist, exerts its effects by binding to and activating the GLP-1 receptor, helping patients reduce hunger, increase satiety, and lower food cravings, thereby helping patients reduce calorie intake and weight loss.
Professor Chen Wei from the Clinical Nutrition Department of Peking Union Medical College Hospital, Chinese Academy of Medical Sciences, stated to the public, "In response to the limited clinical situation of drugs approved for obesity treatment in China over the past 20 years, new medical weight loss drugs can provide patients with safe, effective, and convenient treatment options, help Chinese obesity patients scientifically manage their weight and related disease risks, and improve their quality of life."
Smeaglutide was first approved by the US Food and Drug Administration (FDA) for marketing in December 2017, which is used to assist diet control and exercise to improve blood sugar control in patients with type 2 diabetes; In June 2021, the US FDA approved the drug for chronic weight management in obese or overweight adults. As of now, there are three dosage forms of Smegglutide in the US market, namely Ozempic (injectable hypoglycemic drug), Wegovy (injectable weight loss drug), and Rybelsus (oral hypoglycemic drug).
In China, Smeglutide injection (trade name: Novotel) and Smeglutide tablet (trade name: Novotel) were approved for marketing in April 2021 and late January 2024 respectively for the treatment of type 2 diabetes.
As a phenomenal product in the field of weight loss and even in the pharmaceutical industry in 2023, Smegglutide has swept the world with lightning speed, favored by pharmaceutical companies, capital, and weight loss enthusiasts.
To this day, Smegglutide has become an important engine for the growth of Novo Nordisk's performance. According to Novo Nordisk's first quarter report this year, Smegglutide supported approximately two-thirds of Novo Nordisk's revenue, with three related products achieving a total revenue of 42.2 billion Danish kroner (equivalent to approximately 6.081 billion US dollars). Among them, the sales of the Wegovy slimming version of Smegglutide reached 9.377 billion Danish kroner (equivalent to an exchange rate of approximately 1.351 billion US dollars), a year-on-year increase of 106%.
GLP-1, also known as glucagon like peptide-1, is a peptide hormone encoded by the human glucagon gene and secreted by intestinal L cells. It can promote insulin synthesis and secretion, inhibit appetite, and delay gastric emptying. Under the butterfly effect of Smegglutide, both the international and domestic markets are promoting the wealth creation movement of GLP-1 related products.
A report from Goldman Sachs suggests that by 2028, as many as 68 million Americans may be taking GLP-1 drugs, accounting for approximately 20% of the US population. Goldman Sachs believes that by 2030, this potential usage scale may drive the revenue of GLP-1 drugs to soar to $400 billion, far exceeding the $100 billion predicted by some Wall Street institutions.
In the Chinese market, multiple GLP-1 drugs have been approved, among which Liraglutide, a biologically similar drug of Huadong Pharmaceutical (000963. SZ), and Benarutide, an innovative drug of Renhui Biotechnology, have both been approved for two major indications of hypoglycemic and weight loss. The star single product Tilpropetide (trade name: Mufengda; English name: Tirzepatide) of Eli Lilly Pharmaceutical was also approved for listing by the State Food and Drug Administration in May this year. It is applicable to adult type 2 diabetes patients who still have poor blood glucose control after receiving metformin and/or sulfonylurea drugs on the basis of diet control and exercise.
Several pharmaceutical companies, including Tonghua Dongbao (600867. SH), Huadong Pharmaceutical, and Hengrui Pharmaceutical (600276. SH), are also unwilling to fall behind. Among them, Hengrui Pharmaceutical currently has three key products under research, namely the oral small molecule receptor agonist HRS-7535, GIP/GLP-1 receptor agonist HRS9531 injection, and insulin/GLP-1 injection HR17031. According to the official website of clinical trials, Hengrui Pharmaceuticals has initiated a multicenter, randomized, double-blind phase 3 clinical study on HRS9531 for the treatment of obesity.