Novo Nordisk announced Tuesday that it will cut the US list prices of its blockbuster drugs Wegovy and Ozempic by as much as 50%, marking a major move in its intensifying competition with Eli Lilly.
Beginning Jan. 1, 2027, the monthly list price for both medicines will drop to $675. That equals a 50% reduction for Wegovy and about a 35% cut for Ozempic, FoxBusiness reported.
The lower pricing will also apply to certain pill versions, including Rybelsus. At the same time, new reduced prices will roll out under Medicare plans.
The cuts come as Eli Lilly gains ground in the fast-growing weight-loss market with its own treatments. Demand for GLP-1 drugs, which help people lose weight by lowering appetite and also treat type 2 diabetes, has surged.
Millions of Americans now use these medications, and industry analysts expect the global market to nearly double from $72 billion to $139 billion by 2030.
Ozempic, Wegovy prices to drop up to 50% as Novo Nordisk’s rivalry with Eli Lilly heats up: report
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Drugmaker Novo Nordisk plans to slash list prices for its wildly popular weight-loss and diabetes drugs Wegovy and Ozempic by as much as 50%, according t…
Novo Nordisk Slashes Drug Costs
Novo Nordisk said high list prices have kept some patients from starting treatment, especially those with high-deductible insurance plans or co-insurance.
By lowering the official price, the company hopes to make costs clearer and more manageable for people who pay based on list price.
"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," said Jamey Millar, executive vice president of US operations.
"Our actions today answer that call and remove cost barriers so the value of Wegovy and Ozempic can be realized by more patients."
The pricing shift does not change the company's existing self-pay or direct-to-consumer discounts.
Novo Nordisk already offers Wegovy on its website for $349 per month, far below the previous list price.
According to the NY Post, cash prices outside insurance range from $149 to $499, depending on the drug and dosage.
Both Novo Nordisk and Eli Lilly have also signed agreements with the federal government to offer discounted medicines through TrumpRx.gov, which connects consumers directly to drugmakers' websites.
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