Eli Lilly, Novo Nordisk increase weight loss drug supply | Wilnesh News

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Good Afternoon! It’s still hard to find a group of very popular weight loss and diabetes drugs in the U.S. A major manufacturer of these treatments, Eli Lilly and Company and Novo Nordiskare working hard to change this situation.

But Wall Street appears to be more encouraged by one of them.

The drugmaker shared a supply update as it reported first-quarter financial results. Last year, demand for the weight-loss and diabetes drugs far outstripped supply, forcing the companies to invest heavily to expand production.

Investors cheered after Eli Lilly raised its full-year revenue forecast by $2 billion, in part because of confidence in ramping up production of its weight-loss drug Zepbound, diabetes treatment Mounjaro and similar drugs through the rest of the year. The company calls these treatments incretin drugs, which mimic certain gut hormones to suppress appetite and regulate blood sugar in humans.

“Four months into the year, we have a better understanding of these capacity nodes,” Eli Lilly and Company Chief Financial Officer Anat Ashkenazi told investors on an April 30 earnings call. Clear understanding and more confidence.

She noted that Eli Lilly has multiple manufacturing sites that are “expanding or under construction,” including two plants in North Carolina, two in Indiana, one in Ireland and one in Germany. The company also recently acquired a seventh facility from Nexus Pharmaceuticals.

Ashkenazi also highlighted the recent approval and upcoming launch of Mounjaro’s new delivery device KwikPen in Europe and U.K.She said this would “free up new supply capacity” in certain international markets. That’s because Eli Lilly has been using the device to make insulin for years, so the company can use existing manufacturing resources to make more of its other incretin drugs.

The KwikPen is a four-dose pen that covers a month of treatment.Patients using current auto-injectors for weight loss and diabetes medications Use four different pens each month. Asked whether the company would launch the device in the U.S., Eli Lilly CEO David Ricks told investors, “We have not ruled out launching the device in other jurisdictions.”

Ashkenazi said Eli Lilly expects supplies of Zepbound, Mounjaro and other incretin drugs to remain “fairly tight” in the short to medium term as demand remains high. But she noted that Eli Lilly expects to increase its production of salable doses of its incretin drug later this year by at least 1.5 times compared with the second half of 2023 – a goal the company first proposed in February.

Eli Lilly’s shares rose more than 5% on the day it reported earnings on higher guidance and a supply update.

JPMorgan analyst Chris Schott said in a research note: “While (Eli Lilly) still believes that demand for incretins exceeds supply for the foreseeable future, the company is clearly making progress in increasing production capacity, which should This will translate into accelerated sales growth throughout the year.

Meanwhile, investors seemed less than impressed with Novo Nordisk last week. The company’s shares fell more than 2% after reporting first-quarter results on Thursday.

Novo Nordisk is gradually increasing U.S. production of low-strength or “starting” doses of its weight-loss drug Wegovy after limiting supply last May to cope with demand, Novo Nordisk executives said on a media call on Thursday.

About 27,000 new patients in the U.S. are now starting weekly injections, CEO Lars Fruergaard Jorgensen said on a media conference call. That’s up from 5,000 per week in December.

“This is really a very good sales increase, just as we planned,” Jorgensen said.

He added that the company will continue to increase supply of Wegovy and its diabetes drug Ozempic throughout the remainder of the year. Jorgensen said the company’s main focus is “ensuring continuity of care for patients who have already begun treatment.”

Still, Novo Nordisk’s sales of its weight-loss drug Wegovy fell short of Wall Street expectations, even as supply and prescriptions for the drug increased in the quarter. Wegovy’s revenue more than doubled to 9.38 billion Danish crowns ($1.35 billion) in the period, missing analysts’ expectations of 10.55 billion Danish crowns ($1.52 billion), according to FactSet.

Chief Financial Officer Karsten Munk Knudsen told analysts on a conference call that’s because prices for Wegovy and its diabetes drug Ozempic fell in the first quarter as sales and competition increased.

He added that this trend will continue through the rest of the year. Wegovy and Ozempic still cost about $1,000 a month in the U.S., but Novo has been offering rebates and discounts to insurance companies to expand coverage to more patients.

We will continue to monitor changes in the supply landscape for the remainder of the year. Please stay tuned for our coverage.

Please feel free to send Annika any tips, suggestions, story ideas and data: annikakim.constantino@nbcuni.com.

apple Its heart-monitoring technology received approval from the U.S. Food and Drug Administration last week.

The agency on May 3 declare Apple Watch’s atrial fibrillation history feature is available for clinical research through its Medical Device Development Tools program. The FDA said Apple’s feature is the first digital health technology to qualify for the program.

FDA’s MDDT plan Identify techniques that are reliable enough to be used in scientific research settings. This is a voluntary pathway where MDDT-eligible tools and solutions are then used to help evaluate new medical devices.

Apple’s atrial fibrillation history recording technology will serve as biomarker testing To evaluate the safety and effectiveness of cardiac ablation devices used to treat cardiac arrhythmias.

Atrial fibrillation, commonly known as AFib, is an irregular heart rhythm caused by the “chaotic” beating of the ventricles of the organ. mayo clinic. Atrial fibrillation often causes a fast, pounding heartbeat that can lead to blood clots and increase the risk of stroke or heart failure.

The condition affects different people differently, and sometimes people don’t experience any symptoms. Even so, people with atrial fibrillation often need treatments such as medications, therapy or surgery to prevent consequences such as stroke, the Mayo Clinic says.

Apple’s AFib History feature allows users to track when their heart shows signs of AFib over an extended period of time, according to the company. Company website. The feature is not suitable for people under the age of 22, and users need to wear their Apple Watch for at least 12 hours a day, five days a week, to receive estimates.

Users can also share their data with doctors to help them determine the right treatment and next steps.

AFib History was originally approved by the FDA two years ago, and Apple has Step by step Online instructions are provided for patients interested in setting up.

Apple did not immediately respond to CNBC’s request for comment.

Please feel free to send Ashley any tips, suggestions, story ideas, and data: ashley.capoot@nbcuni.com.