A SPANISH drug company aims to lower prices and cash in on the Ozempic boom by manufacturing the key ingredient.
Galenicum, a Barcelona pharmaceutical company, has started manufacturing the active ingredient in weight loss drugs, semaglutide.
Novo Nordisk, the company behind Ozempic and Wegovy, and now the most valuable in Europe, will lose its exclusive rights to the drug in Canada, Brazil, Turkey, India, and China in 2026.
Meanwhile, in 2030 their European and US rights expire.
This leaves the door open for other companies to produce and sell their versions of the drug.
The arrival of a host of new weight loss drugs will drive down prices and make them more accessible.
Galencium has started to market its version of the drug in 23 countries, including Spain, Canada and India.
They hope to become a world-leading supplier by providing the same product for less.
The market for weight loss drugs is booming.
According to forecasts, the market value of semaglutide will jump from $64.42 billion in 2025 to $170.75 billion in 2033.
The Catalan company intends to ‘capitalise on growth opportunities’ and skyrocket their profits.
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