Obesity drugs: Novo Nordisk quietly lowered weight-loss drug prices in Finland

Novo Nordisk has reduced the prices of its weight-loss drug Wegovy in Finland, with the two largest dosage sizes now costing about 20% less. The price for the highest 2.4 milligram dose has dropped from 285 euros per month to 233 euros, making it the cheapest in Europe.

Semaglutide, the active ingredient in Wegovy, is also sold under the brand names Ozempic and Rybelsus, which are officially for diabetes treatment but are widely used for weight loss. Ozempic and Wegovy are injectable, while Rybelsus is a tablet. Last year, nearly 90,000 people in Finland purchased semaglutide drugs for weight management with their own funds, spending approximately 66 million euros.

Despite the price decrease, the Finnish social insurance institution Kela has rejected Novo Nordisk's application for reimbursement for the treatment of obesity. The price of semaglutide varies by brand; for instance, a one milligram dose of Ozempic is nearly 70 euros cheaper per month than the same dose of Wegovy, despite being the same product. Ozempic is available in doses up to one milligram.

The price reductions were reportedly linked to the reimbursement process. Only France in Europe has approved semaglutide for obesity treatment, and even there, it applies to a limited group of severely obese individuals, with prices negotiated secretly. The cost of weight-loss drugs is expected to fall dramatically once the patents for the first effective medications expire. Semaglutide's patent expired in Canada at the beginning of this year, leading to the market entry of biosimilar versions. These are estimated to cost around 60 euros per month for the largest dose. European patents are expected to expire in the early 2030s, at which point generic versions will also become available in Europe.