A new weight loss drug has been approved in China, which has the second largest pharmaceutical market in the world. The company, Novo Nordisk, known for their research in diabetes care, has launched its popular obesity drug “Wegovy” in China, which has a massive pharmaceutical market. This drug would be immensely popular because it will create a whole new opportunity for weight loss methods. It will also change plenty of people’s lives. Because 50.7% of China’s adult population is considered overweight, it may seam that Chinese citizens are now unhealthy as shown in this article “More than half of Chinese adults are now considered overweight, a study conducted by the country’s National Health Commission revealed on Wednesday.” (Nectar Gan, 2020).
Wegovy (the weight loss drug) will not be reimbursed by China’s national healthcare insurance, which provides basic coverage for most of the country’s 1.4 billion population. While competitive companies such as Eli Lilly, who have yet to launch their weight loss drug , are ramping up production to capitalize on the weight-loss market, which is expected to exceed $150 billion by the beginning of the next decade. In the United States, the list price for Wegovy is $1,349 per month. The final cost for Wegovy in China is unknown as insurance will not cover the price of the drug. While the price for Wegovy is relatively high, “35% of Americans think that weight loss drugs would do “not much” or “nothing at all” (Alice Park, 2024). This high percentage of Americans who don’t believe in weight loss drugs could be affecting the price of Wegovy by constricting the demand.
Having a drug like Wegovy become legalized in major countries such as China could influence many other countries to follow suit. With China having one of the largest pharmaceutical markets, Wegovy can affect the global supply chain by creating a new demand and new entire market for weight loss medication ingredients. Overall, this drug could revolutionize the weight loss marker in China and in some other parts of the world.
