CB Insights July 25, 2024
As concerns mount around the rise of counterfeit drugs, supply chain technologies such as IoT asset tracking, blockchain ledgers, and product & packaging authentication can provide pharma companies with more visibility and supply chain security.
Interest in Ozempic — a GLP-1 receptor agonist developed to treat Type 2 diabetes — has skyrocketed due to its off-label use for rapid weight loss in recent years.
The impact on the pharma industry has been substantial, with Ozempic’s producer, Novo Nordisk, seeing a 36% rise in sales in 2023 driven by the accelerated adoption of its GLP-1 products. D2C pharmacies like Hims are also entering the space, offering their own GLP-1 drugs at a fraction of the cost to patients.
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