Increased Demand for Popular Drug 'Ozempic', China Produces Similar Version

A pharmaceutical company in China has produced a similar version of the diabetes drug 'Ozempic', which many use for weight loss, and has submitted a request for approval to sell it in the country. Ozempic became the world's best-selling diabetes drug last year, with sales in China more than doubling to reach $694 million. The genetic engineering company 'Hangzhou Jiwan' announced that it has applied for permission to sell this drug, named 'Jiutai', for blood sugar control in patients with type 2 diabetes. According to the annual report of the Danish company 'Novo Nordisk', the sales license for 'Ozempic' and the weight loss drug 'Wegovy' will expire in 2026. The sudden increase in demand for the diabetes drug 'Ozempic' is largely due to the enthusiasm of individuals seeking weight loss, as its active ingredient, 'semaglutide', is the same as that used in the weight loss drug 'Wegovy', but at a lower dose. Therefore, the introduction of cheaper versions of 'Ozempic' in Asia's largest market could reduce demand for the weight loss drug 'Wegovy', which 'Novo Nordisk' plans to launch this year under a patient out-of-pocket payment model. The approval of the Chinese version of Ozempic will make this injectable drug the first semaglutide drug in China that has a similar structure to the existing drug, Ozempic, but is not exactly the same. The increased demand for the diabetes drug 'Ozempic' has led to the sale of counterfeit versions of this drug in several countries around the world. The CEO of 'Novo Nordisk' told Reuters that the company takes the matter 'very seriously'. He stated that the company has tested suspicious products and will cooperate with authorities in countries where counterfeit versions of the drug have been found. Several consumers of these counterfeit drugs, including in Iraq, Belgium, the UK, Lebanon, the USA, and Austria, have experienced dangerously low blood sugar levels. The US Food and Drug Administration has seized counterfeit versions of the weight loss drug 'Ozempic'. The UK is investigating the connection between weight loss and diabetes drugs with suicide and self-harm. The popularity of the weight loss drug 'Wegovy'; American insurers: we do not cover it. What we know about 'Ozempic'; the weight loss drug that has made waves on 'TikTok'.