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Novo Mulls What To Do With Wegovy Windfall

 
• By Kevin Grogan

The fortunes of the foundation that controls Novo Nordisk and backs a wide range of scientific, humanitarian and social causes are set to be transformed by the spectacular commercial success of the weight loss blockbuster Wegovy.

Kutay Kasim 2023
Novo Holdings CEO Kasim Kutay • Source: Novo Nordisk Foundation

The stunning success of Novo Nordisk A/S's weight loss drug Wegovy has taken the head of the foundation that controls the Danish drugmaker by surprise, presenting it with the welcome challenge of what to do with the mountain of cash coming its way from the jaw-dropping launch.

Key Takeaways
  • The Novo Nordisk Foundation's coffers will be full to overflowing thanks to the multi-billion dollar obesity drug Wegovy
  • Kasim Kutay, Novo Holdings CEO, spoke of the huge responsibility that comes with the windfall
  • However,

Speaking to journalists in Copenhagen, Mads Krogsgaard Thomsen, who was appointed as CEO of the Novo Nordisk Foundation in March 2021 after serving over 20 years as Novo Nordisk's chief scientific officer, said that "nobody would have expected" such a successful launch for Wegovy (semaglutide injection 2.4mg)

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