Novo Nordisk CEO: ‘Surprised’ about weight-loss drug traction in Europe

While weight-loss drug Wegovy has experienced ballooning demand globally, one thing has surprised the 100-year-old Danish company’s CEO: the willingness among Europeans to pay out of their own pockets to access it.

“The uptake we see has surprised us initially. We wondered, was that only a U.S. phenomenon? We tested it out in Denmark and Norway, we saw more or less the same,” Novo’s Lars Fruergaard Jørgensen told the Financial Times. 

“It’s perhaps the first time that you see a large population willing to pay out of pocket for medicine.”

Wegovy is only available in a handful of European countries including Germany, Denmark, Norway, and Switzerland, where demand has expanded since its launch. Last year, Novo saw sales of obesity drugs Wegovy and Saxenda increase by 147% in local currency compared with 2022. 

In European countries, Wegovy is typically not available in public health systems, which means a large portion of the purchases—80%, according to Novo—are paid for by consumers out of pocket. That’s in contrast to America, where Novo says over 90% of Wegovy sales are covered either fully or partially by health insurance providers. 

But anti-obesity drugs like Wegovy that also bring other health benefits don’t come often—and people recognize that, the Novo chief said.

“When there’s finally something that works and brings improved health and quality of life for the individual, there’s very high willingness to pay,” Jørgensen told the FT.

The price of Wegovy differs between countries—in Germany it costs between €170 and €300 ($183 to $323) per month, while in the U.K. the range is £199 to £299 ($250 to $376) for a month’s supply. Wherever in the world consumers are trying…