Who Owns Wegovy?

Wegovy (semaglutide 2.4 mg) was developed by Novo Nordisk as a higher-dose formulation of semaglutide specifically for chronic weight management in adults with obesity or overweight with at least one weight-related condition. The drug builds on Novo Nordisk's decades of research into GLP-1 receptor agonists, which began with the development of liraglutide (Victoza for diabetes, Saxenda for obesity) and continued with semaglutide.

The pivotal clinical trial for Wegovy, known as STEP 1, was published in the New England Journal of Medicine in 2021 and demonstrated that participants taking semaglutide 2.4 mg lost an average of approximately 15% of their body weight over 68 weeks, compared to approximately 2.4% for placebo. This level of weight loss was unprecedented for a pharmaceutical treatment and significantly exceeded the efficacy of previously available weight loss medications.

Wegovy received FDA approval in June 2021 for chronic weight management in adults with a body mass index (BMI) of 30 or greater, or 27 or greater with at least one weight-related condition such as high blood pressure, type 2 diabetes, or high cholesterol. The medication is administered as a once-weekly subcutaneous injection using a pre-filled pen device.

Following FDA approval, Wegovy faced significant supply constraints due to manufacturing capacity limitations and unexpectedly high demand. These supply shortages persisted through 2022 and into 2023, limiting the brand's commercial ramp-up despite strong physician and patient interest.

The brand gained enormous mainstream attention in 2022-2023 when widespread media coverage and celebrity discussions about GLP-1 medications for weight loss drove public awareness. Wegovy became one of the most discussed pharmaceutical brands globally, with significant social media discussion and media coverage. By 2024, Wegovy was generating over $10 billion in annual revenue for Novo Nordisk, making it one of the fastest-growing pharmaceutical brands in history.

In 2023, Novo Nordisk published the SELECT cardiovascular outcomes trial, which demonstrated that Wegovy reduced the risk of major adverse cardiovascular events (heart attack, stroke, cardiovascular death) by 20% in adults with obesity and established cardiovascular disease. This cardiovascular benefit data, published in the New England Journal of Medicine, significantly expanded Wegovy's clinical profile and supported broader insurance coverage.