Prices at the Pumps - March 20, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesFRANKFURT - Germany's health ministry said that no large volumes of diabetes drug Ozempic are being exported out of the country, quashing a suggestion by the nation's drugs regulator that outbound trade in the drug, coveted for its weight-loss effect, may have to be banned.
The head of German drugs regulator BfArM, which is subordinate to the ministry, in November suggested banning exports of Novo Nordisk's Ozempic if other steps fail, as Europe's health systems grapple with shortage of the diabetes drug.The ministry of health said in a statement it has"currently no evidence that larger volumes of diabetes medicines are being exported".
"Shortages of certain pharmaceuticals, GLP-1 analogues in particular, exist in a number of EU countries because of high demand and limited production volumes," a ministry spokesperson added, responding to a query by Reuters about any considerations to restrict trade. GLP-1 analogues is the name of a class of drugs that include Ozempic and its high-dose version Wegovy, which is approved for weight loss.