Novo Nordisk's Wegoby is approved in China

Novo Nordisk (NVO) has risen 2.1% in pre-market transactions in response to the fact that the company's weight loss remedy Wegoby was approved by the world's second-largest economy.

It's a big market for blockbuster drugs. According to China's National Health Commission, more than half of Chinese people aged 18 and over are obese or overweight.

Novo Nordisk's diabetes treatment drug Ozempic has already obtained approval in China in 2021, but the patents for semaglutide, which is an active ingredient in Wegoby and Ozempic, will expire in 2026. Rival pharmaceutical manufacturers are also developing generic drugs for both products.