The rise of Ozempic: How a diabetes medication sparked the weight loss drug revolution
Danish pharma giant Novo Nordisk launched its game-changing diabetes medication Ozempic in 2017. The weekly injection helps people with type-2 diabetes regulate their blood sugar levels. However, it has become widely known and coveted for is weight loss side effects. Booming demand for Ozempic has transformed Novo Nordisk into one of the most valuable companies in the world. In 2023, Ozempic sales reached nearly $14 billion.
Here is a summary of key events in the rise of Ozempic.
1990: Scientists discover a GLP-1 receptor agonist in Gila monster venom
Scientists John Pisano, Jean-Pierre Raufman, and John Eng identify a molecule in the venom of the Gila monster, a reptile native to the American Southwest, that mimics a gut hormone — glucagon-like peptide 1 (GLP-1). It regulates blood sugar levels, and they call it exendin-4.
2005: Eli Lilly and Amylin launch the first GLP-1 treatment for type-2 diabetes
Eli Lilly and Amylin Pharmaceuticals got approval from the U.S. Food and Drug Administration (FDA) in 2005 to sell Byetta, a exendin-4 synthetic, to treat type-2 diabetes. The treatment is administered twice daily via a subcutaneous injection.
2010: Novo Nordisk introduces a longer-lasting GLP-1 drug
Danish pharma giant Novo Nordisk launched their own GLP-1 treatment for type-2 diabetes, Victoza, in 2010. Victoza is more convenient for patients since it only needs to be taken once a day.
2017: Novo Nordisk introduces an even longer-lasting GLP-1 medication, Ozempic
In December of 2017, the FDA approved Novo Nordisk’s semaglutide (brand name Ozempic) for the treatment of type-2 diabetes. The even more convenient weekly injection becomes known, like all other GLP-1 drugs, for its weight loss side effects.
2018: Oh-oh-oh Ozempic
In 2018, commercials for Ozempic start featuring a cover of the Pilot song “Magic.” The catchy jingle helps turn Ozempic into a household name and is even parodied on Saturday Night Live.
2021: Novo Nordisk launches Wegovy for weight loss
As the off-label use of Ozempic for weight loss starts to increase, Novo Nordisk launches in 2021 a higher dose version of the drug specifically for treating obesity. A clinical trial of Novo Nordisk’s Wegovy found that it helped users lose about 15% of their body weight over 68 weeks.
2022-2023: Ozempic takes over Hollywood
Celebrities ranging from Chelsea Handler, Tracy Morgan, and Oprah start coming forward and sharing that they have used Ozempic and Wegovy to lose weight. Tesla CEO Elon Musk was one of the first prominent figures to say he used Wegovy for weight loss in a post on X in 2022.
2023: Ozempic and Wegovy sales surge
In 2023, Ozempic and Wegovy sales collectively reached nearly $18.5 billion, making up over half of Novo Nordisk’s total sales (about $34 billion) that year.
2023-2024: Everyone wants a piece of the Ozempic business
Companies including Equinox, Life Time Fitness, Costco, and Weight Watchers all start offering services catering to people on Ozempic and similar drugs. In some cases, they even offer prescriptions for the medications.
2030 and beyond: $100 billion market
Morgan Stanley analysts anticipate the global market for weight loss drugs like Ozempic will reach $105 billion by 2030. The investment bank also expects the adoption of these treatments to reach about 31.5 million people in the U.S., about 9% of the nation’s population, by 2035.