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Novo Nordisk CDR (CAD Hedged)
Symbol NVON
Shares Issued 640,000
Close 2025-05-22 C$ 7.53
Market Cap C$ 4,819,200
Recent Sedar Documents

Globe says Novo Nordisk's Wegovy needs gov't support

2025-05-23 07:35 ET - In the News

The Globe and Mail reports in its Friday edition that provincial governments should cover the weight-loss drug Wegovy for overweight individuals who have survived a heart attack or stroke, according to a report from Canada's Drug Agency. The Globe's Kelly Grant writes that the draft recommendation suggests reimbursement for those with a body mass index of 27 or higher and pre-existing cardiovascular conditions, as a clinical trial showed a 20-per-cent reduction in the risk of subsequent heart attacks, strokes, or cardiovascular death. If implemented, Novo Norkisk's Wegovy would become the first prescription weight-loss drug covered by public insurance in Canada for this specific patient group. "This is a huge landmark moment in that we're looking at obesity in a much more holistic sense," said Obesity Canada's Sanjeev Sockalingam. Wegovy is one of the brand names of semaglutide, a medication better known as Ozempic. Ozempic is approved by Health Canada for the treatment of Type 2 diabetes, but it has become a sales and cultural juggernaut because of how readily it helps users lose weight. The report says Wegovy would have to cut the drug's sticker price by 67 per cent to make it cost-effective for taxpayers.

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