Novo Nordisk Expands Wegovy Discount Amid Stock Concerns

Novo Nordisk has expanded its savings program for the obesity medication Wegovy, allowing cash-paying patients to purchase the drug for $499 per month at retail pharmacies, down from a previous price of $650. This discounted price, which represents more than a 60% reduction from the list price of $1,349, was previously available only through NovoCare, Novo Nordisk's direct-to-consumer service. The change is part of Novo Nordisk's strategy to make its weight loss drug more accessible amid competitive pressures, as Eli Lilly has also reduced prices for its obesity medication. While the offer applies to cash-paying patients and those with commercial insurance not covering obesity medications, it excludes patients enrolled in government-funded programs. Despite the potential to expand access, Novo Nordisk's stock fell by 2%, as investors expressed concern over potential revenue impacts.