(just reposting this because I still think it's absolutely hilarious -- Novo Nordisk fouled their paperwork up so badly and refused to pay $450 to fix it, leading to the absence of an enforceable...
(just reposting this because I still think it's absolutely hilarious -- Novo Nordisk fouled their paperwork up so badly and refused to pay $450 to fix it, leading to the absence of an enforceable patent in Canada. Genuinely, someone is never working in the pharmaceuticals industry again because of this, but as a result, thousands (or more!) of people will live who wouldn't otherwise. The most absolutely hilarious way to have a sure pass through the pearly gates)
From the article: [...] [...] [...] [...] [...] [...]
From the article:
The blockbuster weight loss drug sold as Ozempic and Wegovy will soon go generic in countries that are home to 40 percent of the world’s population, significantly lowering the price of a costly medicine that had been largely unaffordable to nearly all but the wealthiest people.
On Saturday, Novo Nordisk, the company that until now has had a monopoly on selling the drug, will lose patent protection in several of the world’s most populous countries. The first generic versions are expected to arrive in India as soon as this weekend. In the coming months, the generics are also expected to become available in China, Canada, Brazil, Turkey and South Africa.
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In the United States and Europe, the drug is not expected to go generic until the early 2030s. That delay is due to special regulatory protections that are intended to encourage innovation by extending a brand-name drugmaker’s monopoly.
Dozens of generic manufacturers have been racing to produce supplies and win regulatory approvals in countries where they can soon compete. Huge demand is expected from patients who could not afford Novo Nordisk’s offering but can budget for cheaper generics. Novo Nordisk sells the drug, semaglutide, as Ozempic for diabetes and as Wegovy for obesity.
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The expiration of the patents presents more trouble for Novo Nordisk, whose stock has plummeted as global competition has eroded its market share. At its peak in mid-2024, the Danish drugmaker was the most valuable public company in Europe.
Eli Lilly, an American company that sells its weight loss drug as Mounjaro for diabetes and as Zepbound for obesity, poses the biggest competitive threat. Eli Lilly is expected to retain patent protection for another decade in most major markets.
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Seeking to preserve its monopoly, Novo Nordisk has fought in courts in India, China and Brazil to try to block the generics. The company has also cut prices in China and India in anticipation of competition.
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Once the generics arrive in Canada, where Novo Nordisk’s patent protection expired in January, some U.S. patients might seek to import the drug from Canadian pharmacies.
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By early March, 10 generic competitors were in the final stage of being evaluated by Chinese regulators to sell their semaglutide products, and at least a dozen more firms had completed clinical trials.
The United Laboratories, which has its headquarters in the southeastern province of Guangdong and in Hong Kong, expects approval to sell its generic for diabetes before July, said Cao Chunlai, an executive at the company’s research and development subsidiary.
China’s national health insurance system covers Novo Nordisk’s drug for diabetes, while people taking it for obesity must pay out of pocket.
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Patents are good for 20 years after an application is filed. But because Novo Nordisk spent years developing its drug and waiting for regulatory review, the company has been selling it for only about eight years.
For situations like this, the United States and Europe grant brand-name drugmakers like Novo Nordisk special protections, called patent term extensions, giving them a monopoly for a few more years.
(just reposting this because I still think it's absolutely hilarious -- Novo Nordisk fouled their paperwork up so badly and refused to pay $450 to fix it, leading to the absence of an enforceable patent in Canada. Genuinely, someone is never working in the pharmaceuticals industry again because of this, but as a result, thousands (or more!) of people will live who wouldn't otherwise. The most absolutely hilarious way to have a sure pass through the pearly gates)
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