Novo Nordisk has spent more than DKK 400 million on promotion of their new diabetes medicine, for the American market.
Novo Nordisk has provided a total of DKK 415 million in capital since July 2018, specifically to promote Ozempic® on the US market. Ozempic® is Novo Nordisk's new drug against type 2 diabetes. It is a drug that, unlike its predecessors, only needs to be taken once a week.
Ozempic® was approved by the US health authority (FDA) in late 2017, and in Canada in the beginning of 2018. It was finally approved by the European Medicines Agency (EMA), in February 2018.
“Ozempic has proven to be significantly better than any other diabetes drug. It sets completely new standards, and I think it will completely take over the Danish diabetes market for this group of medicines in a short time - maybe only half a year”, says professor and chief physician Sten Madsbad.
The perfect market
Novo Nordisk has taken to heavily promote this new and improved drug on the big US market, one of only two markets in the world where businesses are allowed to promote drugs using TV commercials. The other being New Zealand.
Diabetes drugs, which are also classified as GLP1 products, accounted for 78 per cent of Novo Nordisk growth in 2017.
“Right now, we see strong dynamics in the GLP1 segment, and each time a new high quality product has been added to the market, it has increased growth,” says Lars Fruergaard Jørgensen, CEO of Novo Nordisk, to Børsen.
We believe that information should be free and will therefore never put up a paywall.
If you like reading our reports about the Scandinavian business scene and would like to donate towards the upkeep of the site, we would be very grateful. Click here to donate.
Game Development | 🕐 18. Feb. 2020
Business | 🕐 04. Feb. 2020
Startups | 🕐 12. Feb. 2020
Culture | 🕐 14. Mar. 2019
Tech | 🕐 02. Dec. 2019
Tech | 🕐 22. Nov. 2019
Startups | 🕐 25. Nov. 2019
Startups | 🕐 14. Nov. 2019
Startups | 🕐 21. Nov. 2019