Novo Nordisk announced a major shift on Monday, confirming that it will cut the US price of its injectable weight-loss drug Wegovy while doubling down on its upcoming oral version.
The company said it is preparing to "go all in" on its new weight-loss pill as it tries to regain lost ground in a rapidly growing market.
The drugmaker expects a US decision on the oral Wegovy pill by the end of the year. Because many patients prefer pills over shots, Novo Nordisk hopes this new option will help it compete more strongly against Eli Lilly, its biggest rival.
CEO Mike Doustdar told investors, "We have more than enough pills this time, so we're going to go all in and really make this happen."
Novo Nordisk also revealed that it has already begun lowering the price of injectable Wegovy for cash-paying US patients.
The monthly cost is now $349 instead of $499, CNBC reported. The company said this change comes earlier than planned after reaching an agreement with President Donald Trump to reduce drug costs.
New users can also get the lowest doses of Wegovy and Ozempic for $149 per month through Medicare, Medicaid, and approved partners such as GoodRx, Costco, WeightWatchers, and the government's TrumpRx program.
The lower prices follow growing pressure from Lilly and from pharmacies that have offered cheaper copycat versions of Wegovy.
Novo Nordisk said on Monday it would lower the U.S. price of its injectable Wegovy obesity drug and pledged to go "all in" on its upcoming oral weight-loss pill, as the firm races to claw back lost ground in the lucrative market. https://t.co/IG9b5LvsoJ pic.twitter.com/vBi8ohf9Gq
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Investors Praise Novo Nordisk's New 'Bold Tone'
Doustdar explained that weight-loss customers behave differently from traditional diabetes patients, noting that they make choices more like everyday shoppers. "That requires that we need to very quickly adjust to this," he said.
His comment emphasized the fast-changing nature of the weight-loss drug market.
The company is also making internal changes. Newly elected chairman Lars Rebien Sorensen said he plans to bring in board members with experience in over-the-counter products, showing Novo's push toward a more consumer-friendly strategy.
Some investors say the company is finally taking needed risks. "I like the initiative and the new tone," said Claus Henrik Johansen of Global Health Invest, who believes Novo is showing stronger leadership as US sales growth slows.
According to Reuters, Doustdar admitted that fourth-quarter sales may drop by about 4%, but he believes lower prices and more supply will help more people access treatment. "We are only giving medication to a fraction of those who want it, who need it," he said.
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