Latest news with #DaveMoore
Yahoo
22-05-2025
- Business
- Yahoo
Novo Nordisk battles Wegovy copycats through discounted prices, legal threats
Novo Nordisk (NVO) is offering a one-month reduction in the price of its blockbuster weight-loss GLP-1 drug, to help encourage new patients to use the branded drug, as compounded copycats are forced off the market. "This one-time offer is intended to help patients who have previously been prescribed unapproved or illicit 'semaglutide' drugs and are seeking access to authentic, FDA-approved Wegovy," the company said in a statement Thursday. Semaglutide is the key ingredient in Novo's weight-loss drug Wegovy and Type 2 diabetes drug Ozempic. Novo announced a $199 price for one month of doses, for self-pay and uninsured patients, after which the price will increase to the standard cash price of $499 per month. The company also said that insured patients can pay as little as $0 per month. "Mass compounding of 'semaglutide' is illegal, dangerous, and must stop now, which is why we are doubling down on our commitment to accessibility, availability, and affordability of authentic, FDA-approved Wegovy," said Dave Moore, EVP of U.S. Operations in a statement Thursday. The company, along with competitor Eli Lilly (LLY), found their drugs on the FDA's shortage list in the past couple of years as demand suddenly outstripped supply as the "accidental blockbuster" rose to popularity. While GLP-1s aren't new, the latest formulation has provided the most weight-loss ever, prompting non-diabetics to take the drugs. The shortage allowed compounded pharmacies to produce the copycats at cheaper prices, while made from variable forms of the key ingredients —semaglutide for Novo and tirzepatide for Lilly — which, in some cases turned out to be unsafe. The FDA warned against using such copycats. Novo said in its statement Thursday that the FDA's grace period to allow mass compounding of the drug ended, which is why the company launched the offer and a "Choose the Real Thing" awareness campaign. The deals can be accessed through telehealth platforms like Ro and LifeMD. Both companies are also providing limited-time deals for access to their wrap-around support services to help patients on their weight-loss journeys. Novo warned that compounded versions would now be considered "unlawful." Ro has removed compounded semaglutide from its site's offerings. "Now that the FDA's grace period has ended, any entity that mass produces or sells knockoff semaglutide is breaking the law and putting patient safety at risk. Attempts by compounders to evade these laws by making manipulated, unnecessary, and pretextual changes to ingredients, routes of administration, or dosages are also unlawful," the company said. But some compounders have already expressed their intentions to continue offering the product, though in reduced quantities, through available loopholes. The issue could continue to be debated through legal battles. "To date, Novo Nordisk has filed nearly 120 lawsuits across 34 states against compounders and other entities making false and misleading claims about 'semaglutide' drugs, including entities deceiving patients into believing they are receiving 'personalized' or 'customized' drugs. Novo Nordisk will continue pursuing legal action to protect patients from the risks posed by unapproved knockoff drugs and foreign illicit active pharmaceutical ingredients (API)," the company said. Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Health
- Yahoo
Wegovy maker cuts weight-loss drug's price to $199, but there's a catch
The Danish drugmaker Novo Nordisk announced it has temporarily reduced the price of the weight-loss drug Wegovy for new customers as it attempts to limit sales of compounded versions of the medication. Novo Nordisk will sell a one-month supply of Wegovy for $199 through June 30 for patients who previously took compounded versions of the medication. The announcement coincides with a federal deadline on May 22, for manufacturers to cease distributing less expensive, compounded versions of the drug. Novo Nordisk officials said the one-time discounted price is meant for people who must pay for the drug because they are uninsured or their health insurance doesn't cover it. The price will revert to a cash price of $499 after June 30. "We want to be there and meet patients as they transition from a compounded (version) to the real Wegovy," said Dave Moore, Novo Nordisk's executive vice president of U.S. operations. Novo Nordisk and Eli Lilly have been scrutinized over prices for the popular class of diabetes and obesity medications known as GLP-1, or or glucagon-like peptide-1, drugs. While insurers often cover GLP-1 drugs when prescribed for diabetes or heart conditions, many insurers have been reluctant to cover the medications for obesity. Some Blue Cross Blue Shield plans won't cover the drugs for weight loss at all. In April, the Trump administration rejected a Biden proposal to expand Medicare coverage of the weight-loss medications. Consumers who turned to compounding pharmacies to purchase less expensive versions of those medications no longer have that option. The federal government allowed compounding pharmacies to sell copies of GLP-1 drugs while the medications were in short supply. But the Food and Drug Administration said the shortages of Wegovy and Eli Lilly's Zepbound are over. As of May 22, manufacturers are no longer allowed to distribute the compounded versions of semaglutide, which Novo Nordisk sells under the brand Wegovy for weight loss and Ozempic for diabetes. The industry trade group Outsourcing Facilities Association sued the FDA in U.S. District Court in Texas and filed a motion seeking to delay enforcement. But a federal judge denied the group's motion. Lee Rosebush, chairman of the industry group, said patient access to the medications "has taken an enormous step backwards." He said the FDA relied on data supplied by pharmaceutical companies to declare the GLP-1 medications are no longer in shortage, thus ending the legal avenue for compounders to sell less expensive copies. "FDA-registered outsourcing facilities will no longer be able to make compounded GLP-1 medications, removing a more affordable option for consumers, particularly as major insurers are now refusing to cover GLP-1s," Rosebush said. "We urge patients who are affected by the FDA's action to contact their members of Congress and the FDA directly to share how the shortage designation removal is impacting their health and well-being." In April, Novo Nordisk announced it would partner with telehealth firms Hims & Hers, LifeMD and Ro to offer Wegovy, an effort to expand access to cash-paying patients, the company said. The telehealth company Ro said it will reduce the first month of its membership fee to $45. The fee covers access to a licensed prescriber, tailored coaching, side effect monitoring and other services, the company said. Novo Nordisk said new customers can get the one-time, $199 price via the company's NovoCare pharmacy. Customers who are prescribed the drug by their doctor can visit to print out the offer or have it sent to their mobile phone. The one-time, $199 price also will be offered through the telehealth companies, which might have their own terms and charges. In February, Eli Lilly cut the monthly price for lower-dosage vials of its obesity drug Zepbound by $50 for consumers who pay cash via the drugmaker's LillyDirect website. Lilly's prices differed based on dosage. Customers who buy a month's supply of 2.5 mg vials will pay $349, and 5 mg vials will cost $499. This article originally appeared on USA TODAY: Wegovy maker offers one-month discount as cheaper versions go away Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Health
- Yahoo
LifeMD Collaborates with Novo Nordisk to Launch $299 Introductory Bundle for Self-Pay Patients Prescribed Wegovy®
Bundled Offer Includes Wegovy® at $199 and LifeMD's Virtual Weight Loss Program for a Total First-Month Cost of $299, $599 per Month Thereafter NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced a limited-time $299 introductory bundle for new self-pay patients prescribed Wegovy® (semaglutide), which includes both the medication and access to LifeMD's virtual weight management program. As part of its collaboration with Novo Nordisk announced last month, LifeMD is offering Wegovy® at a discounted price of $199 for eligible patients through its recently completed integration with NovoCare® Pharmacy, with an additional $100 covering LifeMD's clinical care, onboarding, and ongoing support. The collaboration with Novo Nordisk strengthens LifeMD's ability to deliver branded GLP-1 medications through a fully integrated care experience, addressing the needs of the growing number of self-pay patients seeking FDA-approved replacements for compounded therapies. LifeMD's platform provides an end-to-end model—from virtual consultation to prescription fulfillment to ongoing coaching and support—ensuring continuity of care at every stage of the weight loss journey. The $299 bundle is available to eligible patients prescribed Wegovy® on or before June 30, 2025. Beginning with the second month, the program will cost $599 per month, with no long-term commitment required. 'Our collaboration with Novo Nordisk reflects LifeMD's commitment to improving affordability, convenience, and access for patients seeking medically guided weight loss,' said Justin Schreiber, Chairman and CEO of LifeMD. 'This bundled solution provides a seamless, affordable on-ramp to FDA-approved GLP-1 therapy—replacing the fragmented and often inconsistent experience many patients have faced with compounded alternatives. We look forward to expanding this collaboration to reach more patients and drive better outcomes at scale.' 'Novo Nordisk continues to work with LifeMD to expand access to authentic, FDA-approved Wegovy®, a proven therapy for chronic weight management along with a reduced calorie diet and increased physical activity,' said Dave Moore, Executive Vice President, US Operations of Novo Nordisk Inc. 'This collaboration enables patients to begin their treatment journey through a trusted virtual care platform. We look forward to this collaboration and improving access and outcomes for patients nationwide.' LifeMD's weight management program delivers personalized, clinically guided care for patients across the U.S. By leveraging its vertically integrated platform—including a 50-state medical group and national diagnostic lab partnerships—LifeMD offers a seamless experience from consultation through prescription fulfillment and ongoing support. To learn more about LifeMD's $299 introductory bundled offering with Wegovy®, please visit Wegovy® is the first GLP-1 therapy approved in the United States for both chronic weight management and cardiovascular risk reduction in adults with obesity. Through this offering, all doses of Wegovy® are available in an injector pen – by prescription – to eligible LifeMD patients who are uninsured or whose insurance does not cover prescription weight-loss medications. About LifeMD, Inc. LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men's and women's health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a 22,500-square-foot affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit Cautionary Note Regarding Forward Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: 'believe,' 'expect,' 'anticipate,' 'project,' 'should,' 'plan,' 'will,' 'may,' 'intend,' 'estimate,' 'predict,' 'continue,' and 'potential,' or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition. Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, 'Risk Factors' identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods. Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation. Investor Contact:Marc Benathen, Chief Financial Officermarc@ Media Contact:Jessica Friedeman, Chief Marketing Officerpress@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
22-05-2025
- Health
- USA Today
Wegovy maker cuts weight-loss drug's price to $199, but there's a catch
Wegovy maker cuts weight-loss drug's price to $199, but there's a catch Show Caption Hide Caption Compounding pharmacies to halt semaglutide sales May 22 Come May 22, compounding pharmacies must stop making semaglutide injections, which serve as a more affordable generic alternative to Ozempic and Wegovy. This decision follows a judge's denial of the pharmacies' request to continue selling the formulation. Fox - 10 Phoenix The Danish drugmaker Novo Nordisk announced it has temporarily reduced the price of the weight-loss drug Wegovy for new customers as it attempts to limit sales of compounded versions of the medication. Novo Nordisk will sell a one-month supply of Wegovy for $199 through June 30 for patients who previously took compounded versions of the medication. The announcement coincides with a federal deadline on May 22, for manufacturers to cease distributing less expensive, compounded versions of the drug. Novo Nordisk officials said the one-time discounted price is meant for people who must pay for the drug because they are uninsured or their health insurance doesn't cover it. The price will revert to a cash price of $499 after June 30. "We want to be there and meet patients as they transition from a compounded (version) to the real Wegovy," said Dave Moore, Novo Nordisk's executive vice president of U.S. operations. Novo Nordisk and Eli Lilly have been scrutinized over prices for the popular class of diabetes and obesity medications known as GLP-1, or or glucagon-like peptide-1, drugs. While insurers often cover GLP-1 drugs when prescribed for diabetes or heart conditions, many insurers have been reluctant to cover the medications for obesity. Some Blue Cross Blue Shield plans won't cover the drugs for weight loss at all. In April, the Trump administration rejected a Biden proposal to expand Medicare coverage of the weight-loss medications. Consumers who turned to compounding pharmacies to purchase less expensive versions of those medications no longer have that option. The federal government allowed compounding pharmacies to sell copies of GLP-1 drugs while the medications were in short supply. But the Food and Drug Administration said the shortages of Wegovy and Eli Lilly's Zepbound are over. As of May 22, manufacturers are no longer allowed to distribute the compounded versions of semaglutide, which Novo Nordisk sells under the brand Wegovy for weight loss and Ozempic for diabetes. The industry trade group Outsourcing Facilities Association sued the FDA in U.S. District Court in Texas and filed a motion seeking to delay enforcement. But a federal judge denied the group's motion. Lee Rosebush, chairman of the industry group, said patient access to the medications "has taken an enormous step backwards." He said the FDA relied on data supplied by pharmaceutical companies to declare the GLP-1 medications are no longer in shortage, thus ending the legal avenue for compounders to sell less expensive copies. "FDA-registered outsourcing facilities will no longer be able to make compounded GLP-1 medications, removing a more affordable option for consumers, particularly as major insurers are now refusing to cover GLP-1s," Rosebush said. "We urge patients who are affected by the FDA's action to contact their members of Congress and the FDA directly to share how the shortage designation removal is impacting their health and well-being." In April, Novo Nordisk announced it would partner with telehealth firms Hims & Hers, LifeMD and Ro to offer Wegovy, an effort to expand access to cash-paying patients, the company said. The telehealth company Ro said it will reduce the first month of its membership fee to $45. The fee covers access to a licensed prescriber, tailored coaching, side effect monitoring and other services, the company said. Novo Nordisk said new customers can get the one-time, $199 price via the company's NovoCare pharmacy. Customers who are prescribed the drug by their doctor can visit to print out the offer or have it sent to their mobile phone. The one-time, $199 price also will be offered through the telehealth companies, which might have their own terms and charges. In February, Eli Lilly cut the monthly price for lower-dosage vials of its obesity drug Zepbound by $50 for consumers who pay cash via the drugmaker's LillyDirect website. Lilly's prices differed based on dosage. Customers who buy a month's supply of 2.5 mg vials will pay $349, and 5 mg vials will cost $499.
Yahoo
01-05-2025
- Business
- Yahoo
CVS strikes a deal to offer Wegovy at a discount
Customers at CVS will be able to buy weight loss drug Wegovy at a discount. Cash purchasers can get the Novo Nordisk–made product for $499 per month. The pharma company has also recently struck deals with major telehealth companies. CVS and Novo Nordisk have struck a deal that will see the drugstore chain offering the Wegovy weight-loss drug to customers at a discount. Approximately 9,000 CVS locations will begin selling Wegovy for $499 per month to customers who pay cash out of pocket. That's the same rate Novo Nordisk has offered previously through its online pharmacy. Novo Nordisk has been looking for ways to expand its market share lately. It also recently aligned itself with telehealth companies Hims & Hers, Ro, and LifeMD to sell Wegovy at a discount for cash customers. "As the leader in obesity care for more than a decade, it is our responsibility to continue to work with others across the U.S. health care system to find innovative opportunities to meet the needs of these patients and connect them with…Wegovy in a convenient and affordable way," Dave Moore, president of Novo Nordisk, said in a statement. Wegovy trails Ozempic in market share. Both drugs are made by Novo Nordisk. The announcement comes as CVS exceeded analyst expectations in its first-quarter earnings. The company reported earnings per share of $2.25, versus a projected $1.70. Those numbers, however, did not include charges tied to a recent jury verdict against the company's Omnicare program, which found the unit has filed false claims with Medicare, Medicaid, and Tricare, resulting in damages of over $135.5 million. The company also raised its 2025 guidance to a range of $6 to $6.20 in earnings per share, up from $5.75 to $6. This story was originally featured on Sign in to access your portfolio
