Novo Nordisk to Reduce Ozempic and Wegovy Prices by Up to 50% Beginning in 2027
Novo Nordisk executive vice president of U.S. operations Dave Moore discusses the drugmaker’s newly launched once-daily oral weight-loss pill on ‘The Claman Countdown.’
Novo Nordisk has made headlines with its recent announcement regarding significant price reductions for its widely used diabetes and weight-loss medications, Ozempic and Wegovy. The company revealed plans to cut the list prices of these drugs by up to 50% in the U.S., effective January 1, 2027.
This strategic move aligns with the introduction of new, lower prices for Ozempic and Wegovy under Medicare plans, aimed at benefiting older Americans. The adjusted list price for various doses of these medications will be set at $675, marking a 50% reduction for Wegovy and a 35% decrease for Ozempic from their current prices. Notably, these price cuts will also extend to Wegovy and Rybelsus pills.
“Lowering the list price of Wegovy and Ozempic is the best approach to address the unprecedented opportunity to help more than 100 million people living with obesity and over 35 million people with type 2 diabetes in the United States,” stated Jamey Millar, executive VP of U.S. operations for Novo Nordisk.
NOVO NORDISK EXECUTIVE REPORTS HIGH INTEREST FOR ONCE-DAILY, ORAL WEIGHT-LOSS PILL
Novo Nordisk announced it will cut Wegovy and Ozempic list prices by up to 50% starting next year. (Dhiraj Singh/Bloomberg via Getty Images)
“Our actions today answer that call and remove cost barriers so the value of Wegovy and Ozempic can be realized by more patients,” Millar elaborated. He emphasized that the lower list price aims to connect more individuals with these innovative medicines, particularly those whose out-of-pocket costs are tied to list prices, such as those with high-deductible health plans or co-insurance benefit designs.
AIRLINES HAVE 580 MILLION REASONS TO LIKE GLP-1 WEIGHT-LOSS DRUGS, ANALYSIS FINDS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVO | NOVO NORDISK A/S | 39.63 | -7.79 | -16.43% |
Novo Nordisk’s GLP-1 drugs contain semaglutide as the active ingredient, which has received FDA approval for treating adults with obesity in the case of Wegovy, while Ozempic is specifically approved for type 2 diabetes. Furthermore, Ozempic injections are FDA-approved for type 2 diabetes and chronic kidney disease, with both Wegovy and Ozempic also approved for comorbid cardiovascular disease.
It’s important to note that these pricing changes do not affect direct-to-patient or self-pay prices for consumers.
COSTCO MEMBERS WILL SOON HAVE ACCESS TO WEIGHT-LOSS SHOTS AT A MAJOR DISCOUNT
Wegovy and other GLP-1 drugs are being used for weight-loss as well as treating diabetes. (Shelby Knowles/Bloomberg via Getty Images)
The market for GLP-1 drugs is becoming increasingly competitive, with a noticeable shift towards consumer-driven, cash-pay channels making price points more sensitive. Currently, Novo Nordisk offers Wegovy on its direct-to-consumer website for $349, which is approximately one-third of its official list price.
In a bid to remain competitive, both Novo Nordisk and its rival Eli Lilly have entered into agreements with the U.S. government to reduce prices this year and sell products through TrumpRx.gov, a website that directs consumers to the companies’ direct-to-consumer platforms.
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As competition intensifies, both companies are also facing challenges from cheaper compounded versions of the drugs offered by telehealth platforms like Hims & Hers, which are allowed to create and sell the medications in personalized doses or compositions.
Reuters contributed to this report.
Novo Nordisk executive vice president of U.S. operations Dave Moore discusses the drugmaker’s newly launched once-daily oral weight-loss pill on ‘The Claman Countdown.’
Novo Nordisk has made headlines with its recent announcement regarding significant price reductions for its widely used diabetes and weight-loss medications, Ozempic and Wegovy. The company revealed plans to cut the list prices of these drugs by up to 50% in the U.S., effective January 1, 2027.
This strategic move aligns with the introduction of new, lower prices for Ozempic and Wegovy under Medicare plans, aimed at benefiting older Americans. The adjusted list price for various doses of these medications will be set at $675, marking a 50% reduction for Wegovy and a 35% decrease for Ozempic from their current prices. Notably, these price cuts will also extend to Wegovy and Rybelsus pills.
“Lowering the list price of Wegovy and Ozempic is the best approach to address the unprecedented opportunity to help more than 100 million people living with obesity and over 35 million people with type 2 diabetes in the United States,” stated Jamey Millar, executive VP of U.S. operations for Novo Nordisk.
NOVO NORDISK EXECUTIVE REPORTS HIGH INTEREST FOR ONCE-DAILY, ORAL WEIGHT-LOSS PILL
Novo Nordisk announced it will cut Wegovy and Ozempic list prices by up to 50% starting next year. (Dhiraj Singh/Bloomberg via Getty Images)
“Our actions today answer that call and remove cost barriers so the value of Wegovy and Ozempic can be realized by more patients,” Millar elaborated. He emphasized that the lower list price aims to connect more individuals with these innovative medicines, particularly those whose out-of-pocket costs are tied to list prices, such as those with high-deductible health plans or co-insurance benefit designs.
AIRLINES HAVE 580 MILLION REASONS TO LIKE GLP-1 WEIGHT-LOSS DRUGS, ANALYSIS FINDS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVO | NOVO NORDISK A/S | 39.63 | -7.79 | -16.43% |
Novo Nordisk’s GLP-1 drugs contain semaglutide as the active ingredient, which has received FDA approval for treating adults with obesity in the case of Wegovy, while Ozempic is specifically approved for type 2 diabetes. Furthermore, Ozempic injections are FDA-approved for type 2 diabetes and chronic kidney disease, with both Wegovy and Ozempic also approved for comorbid cardiovascular disease.
It’s important to note that these pricing changes do not affect direct-to-patient or self-pay prices for consumers.
COSTCO MEMBERS WILL SOON HAVE ACCESS TO WEIGHT-LOSS SHOTS AT A MAJOR DISCOUNT
Wegovy and other GLP-1 drugs are being used for weight-loss as well as treating diabetes. (Shelby Knowles/Bloomberg via Getty Images)
The market for GLP-1 drugs is becoming increasingly competitive, with a noticeable shift towards consumer-driven, cash-pay channels making price points more sensitive. Currently, Novo Nordisk offers Wegovy on its direct-to-consumer website for $349, which is approximately one-third of its official list price.
In a bid to remain competitive, both Novo Nordisk and its rival Eli Lilly have entered into agreements with the U.S. government to reduce prices this year and sell products through TrumpRx.gov, a website that directs consumers to the companies’ direct-to-consumer platforms.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
As competition intensifies, both companies are also facing challenges from cheaper compounded versions of the drugs offered by telehealth platforms like Hims & Hers, which are allowed to create and sell the medications in personalized doses or compositions.
Reuters contributed to this report.
