Pharmaceutical company Novo Nordisk will offer their weight-loss drug for a price of $499 to qualifying consumers.
In a bid to lower drug prices in the United States, President Donald Trump signed an executive order with the intention of making drug prices in the U.S. the same as in other countries. This move comes as major pharmaceutical companies, such as Novo Nordisk and Eli Lilly, have announced plans to expand the supply and cut the costs of their medications.
Novo Nordisk, a Danish pharmaceutical company, has made headlines with its new vials and pricing for Ozempic, a drug primarily prescribed for type 2 diabetes. The company has partnered with telehealth service GoodRx to offer both Ozempic and its weight-loss drug Wegovy for $499 per month, a significant reduction from the typical cost of over $1,000 per month.
Eli Lilly, an American pharmaceutical company, has also announced plans to expand the supply and cut the costs of its weight-loss drug Zepbound, making it more accessible to patients without insurance. The company, which also produces a competing drug called Mounjaro, has not yet announced similar pricing reductions for this drug.
President Trump, in an interview with Fox News, shared an example of a friend purchasing a drug in London for significantly less than in New York, highlighting the need for action on drug prices. The stock price for Novo Nordisk (NVO) currently stands at $54.43, with a decrease of $0.37 and a change percentage of -0.68%. Similarly, the stock price for Eli Lilly (LLY) is $695.84, with a decrease of $7.82 and a change percentage of -1.11%.
Notably, the stock price of GOODRX HOLDINGS INC. (GDRX) decreased by 5.67% following the announcement of partnerships to offer Wegovy and Ozempic for $499 per month. This drop in stock price may be due to investors' concerns about the impact of lower prices on the company's profits.
In a further effort to make these drugs more accessible, Novo Nordisk's Ozempic will be available through its NovoCare pharmacy program, including for the first time outside of insurance, and through GoodRx. Similarly, Eli Lilly's Zepbound will be more widely available to patients without insurance.
Lowering drug prices in the U.S. is a priority for President Trump's administration, and these moves by Novo Nordisk and Eli Lilly represent a significant step towards achieving this goal. As more information becomes available, it will be interesting to see how these changes affect the prices of other drugs and the overall cost of healthcare in the U.S.
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