In the midst of tariffs threatened by the US and counter-tariffs by other countries, Danish healthcare company Novo Nordisk’s top management has cautioned of possible price increases and shortages, echoing the general concern of the pharma industry, including from India.

Pointing to their globalised operations, Lars Fruergaard Jørgensen, Novo Nordisk’s President and Chief Executive Officer (CEO) said the company has a strong US footprint that it can build on, to mitigate the impact of tariffs. However, giving an industry overview on the impact of tariffs on drug prices, he cautioned, there was a risk of shortages and higher prices, as international drug companies source active pharmaceutical ingredients at low prices from other markets and products get moved across borders.

The pharmaceutical industry braces for impact as the tariff war plays out with US President Donald Trump-imposed tariffs on imports from Canada, Mexico, China and others, including India expected to kick in on April 2.

The Novo Nordisk team was addressing international medial on the heels of its announcement on Wednesday to drop prices on Wegovy (semaglutide) in the US, and deliver directly to patients who paid in cash (without insurance coverage).

In spotlight

In fact, Novo Nordisk has been in the spotlight following the popularity of its diabetes and weightloss drug semaglutide, popular across the world as Ozempic and Wegovy. The popularity among patients and celebrities (given its weightloss features), drove up demand for injectable semaglutide, resulting in supply constraints.

Nevertheless, Novo Nordisk management said the product will continue to be rolled out across countries, even in those that may not have a robust patent protection regime. While a clear timeline was not given for the launch of the injectable version of the product in India, a Novo Nordisk representative said, it was continuing to launch the product, even as generic drugmakers were waiting in the wings, with their version of the product. Novo’s oral version of the product is available in India. And the patent on the product is expected to expire in some markets in 2026.