Novo Nordisk has made a significant advancement in patient care by launching a direct-to-patient online pharmacy, NovoCare Pharmacy, that will provide its popular weight loss injection, Wegovy, at more than half the list price. The company aims to enhance affordability and accessibility for those who are cash-paying patients and have been prescribed Wegovy but lack insurance coverage. The price for Wegovy through NovoCare Pharmacy is set at $499 per month, a striking reduction from its list price of $1,349.02.
Most patients, particularly those with health insurance that covers weight-management medications, do not typically pay the list price. In fact, insured patients in the U.S. who have specific coverage for weight management medicines—totaling approximately 55 million individuals—pay between $0 to $25 monthly for their Wegovy prescriptions. Dave Moore, president of Novo Nordisk, emphasized the company's commitment to providing affordable solutions for patients regardless of their insurance status, stating, "Novo Nordisk continues to advance solutions for patients that improve affordability and access to our medicines, whether they have insurance or not." Adding to the context, weekly prescriptions for Wegovy in the U.S.
more than doubled over the past year, reaching around 200,000, according to Moore during a recent analyst call. This surge illustrates the growing demand for effective weight management solutions amid rising health concerns related to obesity. In the backdrop of this development, it is noteworthy that the Food and Drug Administration (FDA) issued a warning in December regarding unapproved glucagon-like peptide-1 treatments, bringing attention to the importance of approved and reliable medications for weight management. Furthermore, in February, Eli Lilly made headlines by reducing the prices on certain dosages of its competitor weight-loss drug, Zepbound, for self-pay patients.
This pricing strategy highlights the competitive nature of the weight loss pharmaceutical market, prompting a greater focus on affordability for consumers. Novo Nordisk's shares, which are publicly traded on the New York Stock Exchange, saw a 3.9% increase following the announcement of their new pharmacy model, reflecting investor confidence in the company's innovative approach to addressing the growing demand for accessible weight-loss treatments..