FTC challenges ‘junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic [CNBC]
Novo Nordisk A/S (NVO)
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Source: CNBC
drugs, including Novo Nordisk's blockbuster diabetes drugs Ozempic, Saxenda and Victoza. The announcement expands the Biden administration's effort to crack down on alleged patent abuses by the pharmaceutical industry. The FTC has argued that drugmakers are needlessly listing dozens of extra patents for branded medications to keep their drug prices high and stall generic competitors from entering the U.S. market. The patent disputes add to a broader effort by the Biden administration to make health care more affordable for Americans – a key pillar of President Joe Biden's 2024 re-election campaign. On Tuesday, the agency issued letters to 10 companies, warning them that certain drug patents were improperly listed. That includes Novo Nordisk, AstraZeneca , Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline Novartis Teva Pharmaceuticals and Amphastar Pharmaceuticals as well as some of their subsidiaries. Many of the drug patents are for Type 2 diabetes, along with asthma and in
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NVO
News
- Novo Nordisk unsure when it will meet obesity drug demand: report [Seeking Alpha]Seeking Alpha
- Nestlé launches food line targeting Ozempic, other weight-loss drug users [FOX Business Network]FOX Business Network
- Many Quit Weight-Loss Drugs Too Early for Benefits, Insurer Says [BNN Bloomberg (Canada)]BNN Bloomberg
- Wegovy, Saxenda study reveals surprising trend for weight loss drugs [USA TODAY]USA TODAY
- Denmark's economy shrinks 1.8% on reduced pharma production, showing extent of Novo Nordisk dependency [Fortune]Fortune
NVO
Earnings
- 5/3/24 - Beat
NVO
Sec Filings
- 5/17/24 - Form 6-K
- 5/17/24 - Form SD
- 5/15/24 - Form 6-K
- NVO's page on the SEC website