Novo Nordisk’s (NVO) shares came alive early Friday after the British health watchdog announced it has approved a higher weekly dosage of the Danish pharmaceutical giant’s Wegovy weight-loss injection.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
On Friday, the Medicines and Healthcare Products Regulatory Agency said it gave the go-ahead on January 6 for obese patients in the country to take up to 7.2 milligrams of the injection in a week, administered as three 2.4 milligram shots. However, such patients must also have a body mass index of 30kg/m² or higher and be on a reduced-calorie diet with excercise.
The approval lifts the maximum weekly approved dose from the previous 2.4 milligram and could support higher revenue per patient if uptake of the higher dose is strong. The UK permission comes several weeks after the EU medicines regulator similarly issued a positive opinion on the higher dose, paving the way for possible approval by the European Commission.
Novo Nordisk is also awaiting a similar approval from the U.S. Foods and Drug Administration following its application in late November.