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Novo Nordisk Collaborates With India's Online Marketplace To Remove Unauthorized Wegovy Listings

Vandana Singh
·1-min read

IndiaMART, an online marketplace in India, has reportedly taken action to remove unauthorized listings of Novo Nordisk A/S's (NYSE: NVO) highly sought-after weight-loss drug Wegovy after engaging in discussions with the Danish pharmaceutical company earlier this month.

Numerous listings were removed after Novo Nordisk notified IndiaMART about sellers needing the trademark for Wegovy.

Novo Nordisk, the sole patent holder of semaglutide—the active component in Wegovy and Novo's diabetes medication Ozempic—has been combating illicit sales and counterfeit versions globally due to the remarkable demand for its weight-loss drugs.

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The drugmaker's India legal team initiated talks with IndiaMART's top executives to establish a collaborative "framework" to notify counterfeit listings, aiming to curb illegal sales.

Citing Novo Nordisk's global spokesperson, Reuters reported that the company regularly monitors suspicious or illicit online sales and endeavors, where feasible, to engage with platforms to prevent or address such unauthorized offers.

However, the company refrained from providing details about its initiatives in India.

Novo Nordisk's India Managing Director, Vikrant Shrotriya, previously expressed the challenges in tracing illegal sellers, emphasizing the complexity involved in addressing this issue effectively.

Moreover, IndiaMART's inclusion on a U.S. government agency's 'Notorious Markets' list for 2022 underscores the persistence of counterfeit goods on the platform as a significant concern.

Price Action: NVO shares are up 1.46% at $100.43 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Company

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This article Novo Nordisk Collaborates With India's Online Marketplace To Remove Unauthorized Wegovy Listings originally appeared on Benzinga.com

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