Novo Nordisk warns of supply constraints on its best-selling diabetes drug

Danish drug developer Novo Nordisk on Wednesday (February 1) warned of supply constraints on its best-selling drug.

The company, which develops diabetes and obesity drugs, said it expected "periodic supply constraints" this year, partly driven by higher than expected demand for its blockbuster diabetes drug, Ozempic, and manufacturing constraints.

"Supply of Ozempic cannot keep up with demand in some markets," Novo's Chief Financial Officer Karsten Munk Knudsen told journalists on Wednesday, but said Ozempic was available in the United States, the firm's biggest single market.

Shortages of human growth hormone would also cause sales in its rare disease franchise to drop by a "mid-single digit" percentage in 2023, as its Norditropin drug would be out of stock in certain markets, Knudsen said.

Sales of Novo Nordisk's new obesity drug, Wegovy, grew nearly 300 per cent in local currencies last year, despite having faced serious supply issues throughout the year.