The popular obesity drug Wegovy, already available in the U.S., Europe, and Japan, is set to be released in South Korea this month. Developed by Danish pharmaceutical company Novo Nordisk, Wegovy was approved by South Korea’s Ministry of Food and Drug Safety in April 2022.

The drug will be priced at 370,000 won for a four-week supply for medical institutions and pharmacies. However, patients without insurance coverage are expected to pay around 800,000 won out of pocket.

The pharmaceutical industry is watching closely to see how Wegovy’s introduction will impact South Korea’s obesity treatment market. In the U.S., the drug gained attention after public figures such as Tesla founder Elon Musk credited it for their weight loss, leading to high demand.

Illustrated by Kim Hyun-kook

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Distribution for Wegovy will begin on Oct. 15, with orders from clinics and pharmacies. Prescriptions are expected to be available by late October. Wegovy is administered once a week via an injection pen and comes in five dosage levels: 0.25 mg, 0.5 mg, 1.0 mg, 1.7 mg, and 2.4 mg. Patients typically start with a lower dose and gradually increase it.

Because obesity drugs are not covered by insurance in South Korea, patients must bear the full cost. Including additional fees such as consultations and prescriptions, total monthly costs are expected to be around 800,000 won. Prices may vary by clinic, and initial demand could drive them higher, according to a pharmaceutical industry official.

Wegovy is prescribed only to individuals with a body mass index (BMI) of 30 or higher, or to those with a BMI between 27 and 30 who have obesity-related conditions.

Saxenda, an injectable prescription medicine for adults with a BMI of 27 or higher with weight-related medical conditions, or a BMI of 30 or more, and for children aged 12 to 17 who weigh at least 132 pounds (60 kg) and have obesity./Novo Nordisk

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The drug belongs to the GLP-1 (glucagon-like peptide-1) class of treatments, which mimics a hormone that stimulates insulin production and slows digestion, helping reduce appetite and increase feelings of fullness. Novo Nordisk’s earlier obesity drug, Saxenda, also belongs to this category but requires daily injections, while Wegovy is administered weekly. Clinical trials show that Wegovy users lost an average of 14.8% of their body weight over 68 weeks, compared to 7.5% over 56 weeks with Saxenda.

Experts predict Wegovy could soon surpass Saxenda, which currently holds the largest market share in South Korea’s obesity drug market.

If Wegovy succeeds, Eli Lilly’s competing drug, Mounjaro, could enter the South Korean market sooner than expected. Like Wegovy, Mounjaro is a GLP-1 treatment requiring weekly injections and has been a blockbuster in the U.S., with second-quarter sales in 2023 exceeding $4.34 billion. Clinical trials showed an average weight loss of 22% over 72 weeks.

Some medical experts are expressing concern over potential misuse. “Interest in Wegovy has surged even before its release, raising concerns about overuse, similar to what we saw with Saxenda,” said Dr. Park Se-eun, an endocrinologist at Kangbuk Samsung Hospital. “Wegovy has side effects, and patients need to consult specialists. Weight regain is also common after stopping the drug.”

[Kim Hyo-in]

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