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By Maggie Fick and Nikolaj Skydsgaard
LONDON/COPENHAGEN, June 20 (Reuters) - Novo Nordisk's launch of obesity drug Wegovy in most of Europe will be slower than planned and the drug will likely not be sold in developing nations for a very long time, executives said on Tuesday, as demand booms in the United States.
"Short term we are challenged because we cannot fully meet demand. But everyone can rest assured that we are strongly committed to make sure that patients over time will get the medicine they expect," said Chief Executive Lars Fruergaard Jorgensen.
Wegovy, which launched in the U.S. in mid-2021, has propelled the company to record sales and its current position as the third biggest pharma company globally by market capitalisation, according to Refinitiv data.
A weekly injection of Wegovy leads to an average weight loss of around 15%, alongside changes to diet and exercise. Its impact has captured the attention of patients, investors and even celebrities, but the Danish drugmaker has been unable to keep up with demand even as the company spends billions of dollars to ramp up production capacity.
Outside the U.S., Wegovy has only been launched in Denmark and Norway. Its inability to keep up with U.S. demand is effectively delaying the launch in Europe. It has also had to overcome production problems at a contract manufacturer.
Camilla Sylvest, executive vice president of commercial strategy and corporate affairs, did not respond directly to a question during a news conference about when the company would launch in other European countries. She said the launch will be "a little bit slower than originally planned".
(Reporting by Maggie Fick in London and Nikolaj Skydsgaard in Copenhagen, Editing by Louise Heavens)
