Novo Nordisk Korea seeks national insurance coverage for Wegovy weight-loss drug

Novo Nordisk Korea announced that it has lodged an application with the Health Insurance Review and Assessment Service to secure reimbursement for its weight-management drug Wegovy under South Korea's National Health Insurance. The firm says the filing is intended to expand access for patients suffering from severe obesity and associated comorbidities. The request arrives amid growing competition: Eli Lilly's semaglutide product Mounjaro is rapidly increasing its share of the Korean market, and domestic firm Hanmi Pharmaceutical is set to introduce a new weight-loss medicine.

Analysts suggest Novo Nordisk's strategy includes the recent reduction of Wegovy's price in South Korea, aimed at preserving its market leadership ahead of Hanmi's launch. If approved, the reimbursement could make the therapy more affordable for a broader segment of the population. The outcome will influence the competitive dynamics of the country's emerging obesity-treatment sector.