Novo Readies Wegovy For Direct-To-Consumer At Discount
Novo Nordisk is adopting a strategy similar to that of its rival Eli Lilly & Co., preparing to offer its blockbuster weight-loss drug directly to obese US consumers at a discounted rate.
Bloomberg reports that Novo’s Wegovy will be offered directly to cash-paying consumers for $499 per month—significantly lower than the uninsured cost of about $1,350 per month.
Lilly began selling its obesity drug Zepbound directly to patients last year. At the same time, Wegovy’s limited supply drove some customers to compounded versions sold by telehealth companies like Hims & Hers Health Inc., which locked overweight Americans into a monthly subscription model.
The introduction of Novo’s new direct-to-consumer model for Wegovy sent shares in Copenhagen up nearly 4% on Wednesday. Shares are still locked in a vicious bear market, down 40% since peaking in late June 2024.
The Danish pharmaceutical giant has been losing ground to Eli Lilly’s Zepbound. At the same time, its next-generation anti-obesity drug, CagriSema, recently fell short of the market’s expectations in a closely watched clinical trial.
Shares of Hims & Hers fell 6% on the news. HIMS shares have nearly halved since peaking on Feb. 19, following the resolution of shortages for Novo and Lilly’s drugs. This development prompted the US Food and Drug Administration to instruct pharmacies to stop compounding those medications.
More broadly, Goldman’s GLP-1 Exposed basket has largely underperformed the GLP-1 At-Risk basket over the last year. This is mainly because the market sees President Trump and RFK Jr. as unfriendly to big pharma.
As for buying the Novo dip, Goldman’s mega-bull on Novo, James Quigley, outlined his key takeaways for clients from a recent meeting with executives from the Danish pharma giant—offering potential clues on whether the dip is a buying opportunity or if investors should wait for lower levels.
Tyler Durden Wed, 03/05/2025 – 12:15
Source: https://freedombunker.com/2025/03/05/novo-readies-wegovy-for-direct-to-consumer-at-discount/
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