Benzinga | Jun 7, 2021 08:15AM EDT

Novo Nordisk's Semaglutide Gets FDA Approval to Tackle Obesity

* Novo Nordisk A/S (NYSE:NVO) has gained U.S. approval for a once-weekly semaglutide 2.4 mg injection, dubbed Wegovy, for chronic weight management.

* The drug will be available to obese adults and certain overweight people and should be used in conjunction with diet and exercise, Novo Nordisk said in a statement.

* Wegovy is the first weight management drug approved for chronic use in most obese and overweight adults since 2014, the FDA said.

* The medication will carry a warning about the risk of certain thyroid cancer.

* Wegovy's price will be similar to Saxenda, which is $1,349 a month, Novo spokesman Michael Bachner said. The company plans to make the exact cost available in the coming days.

* The FDA approved the drug, as an addition to diet and exercise, based on phase 3 data showing Wegovy helped one-third of patients lose more than 20% of their body weight over the 68-week trial period. Patients without type 2 diabetes lost 17% to 18% of their weight on average.

* See the related presentation here.

* Related content: Benzinga's Full FDA Calendar.

* Price Action: NVO shares are up 0.09% at $81.02 during the premarket session on the last check Monday.