Ozempic Shortage Crisis - Germany Weighs Export Restrictions on Novo Nordisk's Drug

Germany's Federal Institute for Drugs and Medical Devices (BfArM) is reportedly contemplating a potential export prohibition on Novo Nordisk A/S's NVO popular diabetes medication, Ozempic, due to an ongoing scarcity.

Citing an interview with Spiegel magazine, Reuters noted BfArM President Karl Broich's concerns, emphasizing the escalating discussions with policymakers to address the drug shortage.

Broich underscored the possibility of enforcing export limitations if existing measures and public communications fail to alleviate the crisis, highlighting the imperative to retain adequate supplies within the country. 

The drug's migration to other European nations and the U.S. has further strained availability in Germany.

The drug's usage for weight loss has triggered significant deficits across Europe, prompting temporary suspensions in Britain and Belgium to secure sufficient quantities for diabetic patients. 

Broich highlighted the relocation of Ozempic from Germany due to cost disparities elsewhere, coupled with soaring demand attributable to its weight-loss utility.

However, Broich cautioned about the complexities surrounding export restrictions within the European Union's single market, citing the considerable legal impediments associated with such measures. 

Affordable Medicines Europe, representing drug wholesale companies facilitating cross-border pharmaceutical trades, revealed that several EU nations have ceased Ozempic exports. 

Countries like Austria, France, Greece, and the Czech Republic have imposed bans, while others have stringent regulations preventing exports.

In response, BfArM reiterated its plea for physicians to strictly prescribe GLP-1 receptor agonists, including Ozempic and Eli Lilly And Co's LLY Trulicity, solely for authorized diabetes treatments.

Price Action: NVO shares are down 0.96% at $98.25 during the premarket session on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.