Novo Nordisk is reducing the price of its popular weight-loss drug, Wegovy, for some patients who are paying out of pocket.
Starting Wednesday, Wegovy will be available for $499 per month at all dose levels through NovoCare Pharmacy, a new service that directly delivers the drug to patients. This price reduction applies to patients without insurance or those whose insurance does not cover obesity medications. Previously, patients could purchase the drug for $650 per month without insurance, according to the company’s website.
This change follows a recent decision by the Food and Drug Administration (FDA), which declared that the active ingredient in Wegovy, as well as in Novo Nordisk’s other weight-loss drug, Ozempic, is no longer in short supply. Last month, competitor Eli Lilly also reduced the price of its weight-loss drug, Zepbound, for self-paying patients, after a similar FDA ruling.
Together, Novo Nordisk and Eli Lilly dominate the weight-loss market, which analysts from Goldman Sachs predict could reach $130 billion by 2030.
Novo Nordisk’s shares rose nearly 4% on Wednesday, although the company’s stock has fallen by about 25% over the past year.
