Who Owns Ozempic?

Ozempic (semaglutide) was developed by Novo Nordisk's research teams over many years, building on the company's decades of expertise in diabetes treatment. Semaglutide is a glucagon-like peptide-1 (GLP-1) receptor agonist, a class of medications that mimic the GLP-1 hormone naturally produced in the gut. GLP-1 receptor agonists stimulate insulin secretion, reduce glucagon release, slow gastric emptying, and reduce appetite, making them effective for both blood sugar control and weight management.

Ozempic received FDA approval in December 2017 for the treatment of type 2 diabetes in adults, and was subsequently approved in the European Union and other markets. The medication is administered as a once-weekly subcutaneous injection using a pre-filled pen device. Clinical trials demonstrated that Ozempic significantly reduced HbA1c (a measure of long-term blood sugar control) and also showed cardiovascular benefits, including reduced risk of major adverse cardiovascular events in patients with type 2 diabetes and established cardiovascular disease.

The cardiovascular benefit data, published in the SUSTAIN-6 trial, was a significant differentiator for Ozempic compared to older diabetes medications and contributed to its rapid adoption by physicians treating patients with both diabetes and cardiovascular disease.

Ozempic's profile as a weight loss agent became widely known in 2022-2023 when the medication gained significant media attention and social media discussion as a weight loss drug, despite being approved only for diabetes. This off-label use created significant supply shortages that affected patients with type 2 diabetes who relied on the medication. Novo Nordisk launched Wegovy (a higher-dose semaglutide formulation) specifically for obesity treatment in 2021, but Ozempic continued to be used off-label for weight loss due to Wegovy supply constraints.

By 2023, Ozempic and Wegovy together had transformed Novo Nordisk into one of Europe's most valuable companies, with the semaglutide franchise generating over $20 billion in annual revenue.