Novo Nordisk (NYSE:NVO) announced that one of its contract manufacturers filling syringes for its Wegovy (semaglutide) pens in the U.S. market has temporarily ceased manufacturing following a report of Good Manufacturing Practice (GMP) problems.
The company projects it will be unable to meet U.S. demand for the drug in the first half of 2022 and that use of the drug will likely be constrained to a limited number of patients.
NVO shares dipped 8.21% to $107.45 on Dec. 17. In afternoon trading on Dec. 20, they fell another 3.33% to $103.88.
Novo Nordisk anticipates a resolution of the supply shortage by the second half of 2022.
The obesity drug Wegovy is a glucagon-like peptide-1 (GLP-1) receptor agonist indicated for patients with a body mass index of 30 kg/m2 or greater or 27 kg/m2 or greater (overweight) with at least one weight-related comorbidity.