Once-Weekly Injection Enhances Patient Convenience
New Option for Obesity and Diabetes Patients
The obesity treatment drug 'Wegovy,' which has been attracting global attention, is scheduled to enter the Korean market next month. Developed by the Danish global pharmaceutical company Novo Nordisk, this drug was originally developed as a diabetes treatment but was later approved for obesity treatment due to its outstanding weight loss effects.
Wegovy received marketing approval from the Korean Ministry of Food and Drug Safety in April last year, but its launch was delayed due to supply shortages caused by a surge in global demand. Novo Nordisk has invested more than approximately 13 trillion KRW in expanding production facilities and recently announced that supply quantities for Korea have been secured.
The drug gained further fame after it was reported that Tesla's Elon Musk used it. Notably, Novo Nordisk's existing obesity treatment, Saxenda, requires daily self-injection, whereas Wegovy reduces the injection frequency to once a week, enhancing patient convenience.
The domestic obesity treatment market is estimated to be about 178 billion KRW as of the end of last year, and the launch of Wegovy is expected to change the market landscape. Industry experts anticipate that Wegovy will significantly replace the existing Saxenda market. Additionally, competition among domestic pharmaceutical companies to develop obesity treatments is expected to intensify.
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It is noteworthy that there are currently no plans to launch the diabetes treatment drug 'Ozempic,' developed alongside Wegovy, in Korea. Although Ozempic received domestic marketing approval a year earlier than Wegovy, Novo Nordisk cites difficulties in securing stable supply quantities as the reason for the delay.
However, there is another perspective within the industry. Ozempic aimed for inclusion in the national health insurance reimbursement list, but it is analyzed that the application was voluntarily withdrawn when the expected price during drug price negotiations was anticipated to be unsatisfactory. In fact, Ozempic withdrew its application just before the price decision at the Drug Reimbursement Evaluation Committee of the Health Insurance Review and Assessment Service in May last year.
On the other hand, Wegovy is planned to be launched as a non-reimbursed drug from the start. This decision appears to consider that, despite being covered by health insurance in countries like the United States and Japan, the drug remains expensive. In Japan, for example, even after health insurance coverage, the monthly drug cost reportedly exceeds 300,000 KRW.
This situation highlights the dilemma in domestic health policy. The conservative drug pricing by the Korean Ministry of Food and Drug Safety is positive in terms of patient burden and the soundness of health insurance finances, but it can also delay the introduction of new drugs domestically. From the pharmaceutical companies' perspective, it may be a rational business decision to prioritize launching new drugs in countries where higher prices can be obtained.
The domestic launch of Wegovy is expected to provide new treatment options for patients with obesity and diabetes. However, issues related to pricing and accessibility remain challenges. It will be important to find a balance between timely introduction of innovative new drugs and reasonable pricing through cooperation between the government and the pharmaceutical industry in the future.
Ultimately, the launch of Wegovy in Korea is expected to inject new vitality into the domestic obesity treatment market. However, since it will be launched as a non-reimbursed drug, it is necessary to observe how accessible it will be to actual patients. Furthermore, this case is expected to stimulate more active social discussions on various issues arising during the domestic introduction process of new drugs.
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