Biosimilars
Semaglutide (Ozempic; Wegovy)
Mechanism of Action: Glucagon-like peptide-1 receptor agonists Drug class: Glucagon-like peptides Originator: Novo Nordisk Developer: Gilead Sciences; Novo Nordisk Indication: Non-alcoholic steatohepatitis; Obesity; Type 2 diabetes mellitus
Market revenue of Semaglutide
Semaglutide, particularly in the form of Ozempic, has driven a significant rise in revenue for Novo Nordisk. In 2024, semaglutide generated around USD 28.43 billion in sales, up roughly 25-26 % compared with the prior year, and together with Wegovy (the semaglutide weight-loss version), the products contributed a large share of the company’s overall revenue growth. This surge reflects strong global demand across diabetes and obesity care, expanding indications, and broad geographic uptake, making semaglutide one of the top-selling drug classes worldwide.
Market revenue of Semaglutide (2020- till Q3 2025)
Fig 4: Market revenue of Semaglutide
The Growing Impact of Semaglutide Biosimilars in 2026 and Beyond
The anticipated launch of a biosimilar to Ozempic in 2026 is expected to significantly reshape the diabetes and obesity drug market, particularly in China and potentially beyond. Chinese pharmaceutical firm Hangzhou Jiuyuan Gene Engineering is seeking approval for Jiyoutai, a semaglutide biosimilar that could become China’s first alternative to Novo Nordisk’s Ozempic and related weight-loss therapies. Approval efforts come as Novo Nordisk’s patent protection on semaglutide is set to expire in 2026, opening the door for lower-cost competitors.