Novo Nordisk has cut direct-to-consumer prices for blockbuster weight loss drug Wegovy and diabetes treatment Ozempic to US$349 per month from $499, ramping up the price war for in-demand GLP-1 medications as the Danish drugmaker battles sliding market share.
The Monday announcement includes a temporary introductory offer letting new cash-paying patients access the two lowest doses for $199 monthly during their first two months of treatment - available through 31 March 2026.
It marks Novo's latest move to stem losses to rival Eli Lilly, which captured 57% of the U.S. GLP-1 market during the second quarter, up from 53% earlier this year, according to Lilly investor presentations.
Novo's shares have cratered 44.8% year-to-date as investors fret over prescription trends and heightened competition.
The pricing cuts follow deals struck by President Donald Trump with both drugmakers in early November to broaden Medicare access and slash government costs for GLP-1 drugs - part of his "Most Favored Nation" push to align U.S. drug prices with other developed nations.
Under those agreements, Medicare will cover obesity drugs for the first time starting mid-2026, with beneficiaries paying $50 co-pays each month.
The government's TrumpRx platform - launching in January - will sell Wegovy and Ozempic for $350 initially, trending down to $245 over two years.
"Our new savings offers provide immediate impact, bringing forward greater cost savings for those who are currently without coverage or choose to self-pay," Dave Moore, Novo Nordisk's head of U.S. operations, said in a release.
The reduced pricing reflects Novo's "softening market share as the company looks to regain its footing", pharmaceutical analyst Evan Seigerman at BMO Capital Markets wrote in a Monday note to clients.
Cash-paying customers account for roughly 10% of total Wegovy prescriptions in the U.S., though KFF polling released Friday found about one in eight adults currently use GLP-1 drugs, with cost cited as a primary reason for stopping treatment.
Eli Lilly moved immediately after Trump's November announcement, trimming $50 off its LillyDirect platform - starter doses of Zepbound now run $299 versus higher doses at $449.
The company's tirzepatide drug (sold as Zepbound for obesity and Mounjaro for diabetes) became the world's best-selling medication in Q3 with year-to-date sales hitting $24.8 billion, surpassing Merck's Keytruda.
Both companies are racing to launch oral GLP-1 versions - Novo submitted FDA applications for a Wegovy pill in February, while Lilly's orforglipron could gain fast-track approval as soon as March after receiving a priority review voucher as part of the Trump deals.
The global GLP-1 market reached $52 billion in 2024 and is projected to hit $187 billion by 2032, with conservative estimates pegging compound annual growth near 17%.
Novo's discounted pricing is available through Wegovy.com and Ozempic.com, NovoCare pharmacy, and partners including Costco, GoodRx, WeightWatchers, Ro, LifeMD and eMed.
The highest Ozempic dose (2mg) remains tagged at $499 a month.
The U.S. price cuts won't flow through to Australia, where Ozempic for diabetes costs A$31.60 under the nation's pharmaceutical benefits subsidy (PBS) or A$134-$140 for private scripts.
Wegovy launched in August 2024 at $350-$460 a month but remains unsubsidised after the Pharmaceutical Benefits Advisory Committee rejected its PBS listing, arguing Novo's proposed wholesale rate wasn't cost-effective.
Australia's independent assessment process operates separately from U.S. pricing dynamics, with no timeline for when GLP-1s might secure PBS support for weight loss.
