US Stock Movement: Novo Nordisk rises 1% pre-market on news of seeking approval from Chinese regulators for Wegovy listing

Glonghui June 16 | A certain exchange rose 1% before the market, at $44.36. In terms of news, the CEO of the exchange, Mike Doustdar, stated that they plan to soon seek approval from Chinese regulators for the weight-loss drug Wegovy, hoping to catch up with Eli Lilly in the Chinese market. Doustdar said they will submit the oral Wegovy data within a few months to seek regulatory approval, and competition from generic drug manufacturers is expected to appear from the second quarter of next year. Although the exchange has regulatory data protection until early next year, the patent for the active ingredient semaglutide in its best-selling drugs Wegovy and Ozempic expired in China in March.