Novo Nordisk said Monday it has launched its popular obesity drug Wegovy in China, the world’s second-largest pharmaceuticals market where it estimates more than 180 million people live with obesity.
The move intensifies the competition with Eli Lilly, which secured approval for its weight-loss drug in China in July but has yet to launch it.
Both companies are ramping up production to capitalize on a weight-loss market projected by analysts to exceed $150 billion by the beginning of the next decade.
A spokesperson for the Danish drugmaker confirmed the news to Reuters after it was first reported by China-based financial media outlet Yicai.
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