Michael Siluk/UCG/Universal Images Group via Getty Images
- Novo Nordisk has said it will cut prices of Wegovy amid rising sales and competition.
- Sales of the blockbuster weight-loss drug more than doubled in the first quarter year on year.
- Novo faces competition from Eli Lilly and scrutiny from the US government over drug pricing.
The Danish drugmaker Novo Nordisk is set to lower prices of its weight-loss drug Wegovy as it plans to raise sales volumes and navigate tough competition.
Prices for the blockbuster drug fell in the first quarter, and Novo Nordisk's chief financial officer, Karsten Munk Knudsen, said in a Thursday earnings call that the company planned to continue to cut prices in the US because of high volume and competition.