Ozempic, Wegovy prices to drop up to 50% as Novo Nordisk’s rivalry with Eli Lilly heats up: report

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 to a report.

Starting next January, Wegovy and Ozempic will each list for $675 a month – half of Wegovy’s current price tag and a 34% drop for Ozempic, the Wall Street Journal reported Tuesday.

Pill versions of both drugs, including a version known as Rybelsus, will also see the price cuts, according to the report.

Drugmaker Novo Nordisk plans to slash list prices for its wildly popular weight-loss and diabetes drugs, according to a report. REUTERS

The discounts mark Novo Nordisk’s attempt to regain the lead in the weight-loss market from rival Eli Lilly, the maker of Mounjaro and Zepbound, which has pulled ahead in the race.

It will be the first time Novo Nordisk – a massive Danish drugmaker responsible for much of Denmark’s economy, landing it the title “pharmastate” – has lowered its drug list prices.

Millions of patients are taking the wildly popular weight-loss drugs – with the number of Americans using such medications more than doubling over the past year and a half, according to a Gallup survey late last year.

Novo Nordisk suspects the category’s steep price tags have deterred many more potential customers, so it’s aiming to reduce out-of-pocket costs for new patients enrolled in high-deductible plans.

“Our hope is that reduced prices will lead to better access and affordability,” Jamey Millar, executive vice president of US operations at Novo Nordisk, told the Journal.

Anti-obesity drug Wegovy and diabetes medication Ozempic will each list for $675 a month, according to the report. Christopher Sadowski

Both drugmakers have already been offering discounts to insurers and consumers, including through recent deals with the Trump administration, in an attempt to keep prices low.

For patients paying for prescriptions outside insurance, Novo Nordisk slashed its cash prices to $149 to $499 a month depending on the exact drug and dosage.

Eli Lilly previously lowered Zepbound to a cash range from $299 to $499 a month – down from a list price of more than $1,000 a month.

The new cuts to drug list prices won’t change Novo Nordisk’s discounted offerings, which can be found on TrumpRx – a new government site that gives consumers direct access to discounted drugs.

Novo Nordisk also recently launched the first pill version of a GLP-1 for weight loss, while both drugmakers have started selling their medications directly through websites to consumers.

The global market for GLP-1 drugs – which can be used for weight loss or to manage diabetes – is roughly $72 billion, expected to jump to $139 billion by 2030, according to TD Cowen.

Demand is so high that the drugs, which are known to help users lose weight by suppressing their appetite, are posing a substantial threat to the fast-food and booze industries.

Also next January, Novo Nordisk will launch new, lower prices for the same drugs in the Medicare system – offering Ozempic and Wegovy at $274 for a 30-day supply.