Novo Nordisk to cut prices of popular diabetes and weight loss drugs
Battling to regain its market share over rival Eli Lilly, Novo Nordisk announced Tuesday that it will reduce the list prices of its popular weight loss drug Wegovy and diabetes drugs Ozempic and Rybelsus by up to half starting in 2027, reports BritPanorama.
The current monthly list price of $675 aims to make the GLP-1 medications more accessible for patients whose costs are tied to the list price, including those with high deductibles or who pay co-insurance for medications through employer-based plans.
Wegovy’s list price is currently $1,349, while Ozempic and Rybelsus are priced at $1,028; however, insured patients may pay as little as $25 a month.
The announcement marks the latest development in the pricing competition between Novo Nordisk and Eli Lilly, the manufacturer of the weight loss drug Zepbound and diabetes medication Mounjaro. Both companies are aiming to capture a rising demand for obesity treatments and have been lowering prices for cash buyers who opt out of insurance. Furthermore, both corporations have entered “Most Favored Nation” agreements with the Trump administration, allowing expanded access to Medicare patients.
According to the Danish drugmaker, the change in list prices will not affect self-pay amounts. Prices for Wegovy pills through direct-to-consumer channels range from $149 to $299 monthly based on dosage, while the Wegovy injectable pen is priced at $349, with a promotional rate of $199 for new patients during the first two months.
The Ozempic injectable pen varies from $349 to $499 monthly, again dependent on dosage, with a reduced price of $199 available for new self-pay patients for the initial two months.
Bloomberg initially reported the list price reductions, highlighting that a shift in market dynamics has seen Eli Lilly overtaking Novo Nordisk in capturing new prescriptions for obesity treatments. Earlier this month, Novo Nordisk forecast a decline in sales and profit growth for the year, resulting in a significant drop in its stock price. Additionally, the company disclosed disappointing results for its CagriSema obesity drug trial earlier this week.
The evolving landscape of drug pricing underscores the increasing competition in the obesity treatment market, with both companies vying for consumer preference amid growing demand.
