Australia announced on Wednesday that it would ban compounded versions of weight-loss drugs like Novo Nordisk A/S’s (NYSE:NVO) Ozempic and Eli Lilly And Co’s (NYSE:LLY) Mounjaro, citing safety concerns. Recently, the Chinese regulatory authority approved Eli Lilly’s diabetes drug, tirzepatide. Health Minister Mark Butler emphasized that these unregulated copies have not undergone rigorous testing, leading to potential patient risks. Related: The Ozempic Diet: Nestle Launches $5 Pizza For Weight
Global obesity rates have nearly tripled since 1975, per WHO and Goldman Sachs. The growing usage of GLP-1 drugs in weight management now makes the industry a thriving one.
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