Novo loses share in Brazil to cheaper generics, but holds up in Canada and India
NVO•Novo Nordisk lost market share in Brazil after semaglutide’s patent expired, contributing to a 3% decline in emerging market sales in the third quarter. The company largely held its ground in Canada and India, CEO Mike Doustdar told Reuters.
1. Brazil faces cheaper competition
Novo Nordisk is losing market share in Brazil after semaglutide’s patent protection expired in March, CEO Mike Doustdar said. Brazil’s size among emerging markets contributed to a 3% decline in sales in the category in the third quarter, while sales in Europe and Canada combined grew 19%.
2. Canada and India hold up
Novo retained a large part of its business and patient base in Canada after patent protection lapsed in January. Doustdar said generic makers had faced supply problems and delays, while Novo competed at lower prices and won some volumes. In India, where protection ended in March, Novo lost some share but less than it feared, as it kept prices well above those of generic rivals.
