A view of a plastic model of a stomach during an interview with Doctor Thomas Horbach, specialist in surgery, visceral surgery and nutritional medicine on Novo Nordisk, which will start selling its hugely popular obesity drug Wegovy in Germany later this month, in Munich, Germany, July 17, 2023.
Christine Uyanik | Reuters
Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments in the U.S. during the first seven months of this year, up 20% from the same period a year ago, according to new data released Friday.
The data, from advertising analytics firm MediaRadar, demonstrates the rush by companies to capture new customers after months of hype around Novo Nordisk’s diabetes drug Ozempic and weight loss counterpart Wegovy.
These drugs and similar treatments have experienced a surge in demand this year due to their ability to assist patients in losing excess weight. Known as GLP-1s, these medicines mimic a hormone produced in the gut to suppress appetite.
Healthcare providers in the U.S. wrote over 9 million prescriptions for Ozempic, Wegovy, and other obesity and diabetes drugs in the last three months of 2022, a 300% increase from early 2020.
From January 1, 2022, to July 31, 2023, MediaRadar compiled ad spending from national TV broadcasts, print publications, newspapers and websites, and social media platforms.
The top four drugs advertised were Novo Nordisk’s Ozempic, Wegovy, and diabetes pill Rybelsus, as well as Boehringer Ingelheim’s diabetes treatment Jardiance, which is set to undergo drug price negotiations with the federal Medicare program.
Together, these treatments accounted for $358 million, or about three-quarters, of total ad spending for obesity and diabetes drugs during the first seven months of this year.
Spending on Ozempic ads during that time period was $120 million, a 23% increase from the previous year.
MediaRadar stated that the rise in popularity of Ozempic has had a “positive impact on similar medications.”
“It’s a classic case of ‘a rising tide lifts all boats,'” said MediaRadar CEO Todd Krizelman. “As Ozempic’s popularity grows, so does the demand for other weight loss and diabetes drugs, especially Wegovy, which has made a significant mark this year, particularly from Q2 onwards.”
Wegovy accounted for over $20 million in ad spending during the first seven months of the year, primarily due to a spike in spending from April to July, according to MediaRadar.
However, MediaRadar noted that in May, Novo Nordisk paused some key promotional advertising for Wegovy, specifically local and national TV advertising.
MediaRadar mentioned that most of the spending on the drug was for digital advertising, such as online videos.
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