Novo Nordisk invests billions of dollars to buy factories and launches a battle for weight loss drug production capacity
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发表于 2024-2-6 17:13:58
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Global weight loss drug leader Novo Nordisk has made new moves in expanding production.
On February 5th, Novo Nordisk announced that its controlling shareholder Novo Holdings had agreed to acquire CDMO (Contract Development and Production Services) leader Catalent for $16.5 billion. As part of this transaction, Novo Nordisk will acquire three filling production bases of Catalent from Novo Holdings with a prepayment of $11 billion.
According to this press release, these three production bases specialize in sterile drug filling, located in Anani (Italy), Brussels (Belgium), and Bloomington (Indiana, USA).
In fact, Novo Nordisk had previously collaborated with Catalent. On the GLP-1 star drug company Megglutide in the former, Novo Nordisk produces its own active pharmaceutical ingredient (API), and the filling work is entrusted to Catalent.
Novo Nordisk said that the acquisition will help its current and future manufacturing network for the treatment of diabetes and obesity. It is expected that the acquisition of the production base will be completed by the end of 2024, and the filling capacity of the company will be gradually improved from 2026 onwards.
In terms of performance, Smegglutide, especially its weight loss certification, has driven Novo Nordisk's revenue and stock price. The drug was approved by the US Food and Drug Administration (FDA) for injection preparation Ozempic and oral preparation Rybelsus in 2017 and 2019, respectively, for the treatment of type 2 diabetes. The weight loss indication injection preparation Wegovy will be added in 2021.
The latest data shows that in 2023, the sales of Ozempic and Rybelsus were 13.889 billion US dollars and 2.72 billion US dollars, respectively, with a year-on-year increase of 60% and 66%; Wegovy's sales revenue was $4.548 billion, a year-on-year increase of 407%. The total revenue of the three reached $211.57, which is close to the revenue level of $21.2 billion for the global pharmaceutical king Xiumeile in 2022.
The reason for this increase in volume includes both the good weight loss effect of the product and the influence of Musk's "celebrity sales". However, since its launch, Wegovy has always been constrained by production capacity. In May 2023, Novo Nordisk also stepped on the brakes on Wegovy's marketing efforts to avoid stimulating further product demand.
As a result, Novo Nordisk has expanded production in multiple parts of the world, investing $6 billion to strengthen its existing production facilities in Karenburg, Denmark, upgrading its production base in Chartres, France, and acquiring Alkermes' manufacturing plant in Ireland.
The insufficient production capacity of weight loss pills is not a problem faced by the Novo Nordisk family. Its old rival Lilly is also restricted here. In May 2022 and November 2023, its GLP-1R/GIPR dual target agonist Tirzepatide was approved by FDA as the indication for type 2 diabetes and weight loss respectively.
As early as the indication for type 2 diabetes was approved, there was a shortage of tilporide. The weight loss effect of this drug is considered superior to that of smeglutide, and it is the main competitor of the latter. In the first three quarters of 2023, global sales of Tilposide were $2.958 billion.
According to industry media Fierce Pharma, Eli Lilly announced an additional $1.6 billion investment in a new production base in Indiana and $450 million in the Research Triangle Park factory in North Carolina to increase production capacity of intestinal stimulating insulin products, including telposide. During the 2023 Q3 earnings conference call, CEO David Ricks also stated that Lilly is actively planning to expand production.
Domestically, Smeglutide injection and oral Smeglutide have been approved by the State Food and Drug Administration (NMPA) in April 2021 and January 2024 respectively for the treatment of type 2 diabetes, and their weight loss indications are in the stage of listing application. Tilpodide's indications for type 2 diabetes and weight loss are in the application for listing.
Among domestic enterprises, companies such as East China Pharmaceutical have made rapid progress in GLP-1 class drugs. Among them, Xinda/Lilly's double target product, Mashdopeptide, is in clinical phase III stage in terms of type 2 diabetes and weight loss indications.
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