Novo Nordisk (NVO, Financial) has submitted an application to the U.S. FDA for approval of an oral version of its GLP-1 weight-loss drug, Wegovy (semaglutide). A company spokesperson confirmed this development. In May 2023, Novo Nordisk announced positive Phase 3 trial results for the oral semaglutide, showing a 50 mg dose can reduce body weight by 15%.
Although the trial data was released in 2023, the company delayed the application to focus on potentially more effective alternatives to injectable semaglutide, marketed as Ozempic for type 2 diabetes and Wegovy for weight management.
Competitor Eli Lilly (LLY) recently reported that its oral weight-loss drug, Orforglipron, performed well in Phase 3 trials. Results indicated that Orforglipron's weight-loss effects could match or surpass injectable GLP-1 medications, with patients losing an average of 16 pounds, or 7.9% of their body weight.
At the close of the U.S. stock market on Monday, Novo Nordisk shares rose by 0.43%, while Eli Lilly shares fell by 2.6%.
