Latest news with #NovoCarePharmacy
Forbes
01-05-2025
- Health
- Forbes
Novo Nordisk Forges Multiple Partnerships To Sell Wegovy At A Discount
The pharmaceutical firm Novo Nordisk is pursuing a multi-pronged strategy to regain market share ... More that it has lost to Eli Lilly in the lucrative obesity drug market. One of its weight loss products, Wegovy (semaglutide), is an injectable prescription medicine. It should be used with a weight loss plan and (increased) physical activity. (Photo by: Michael Siluk/UCG/Universal Images Group via Getty Images) The pharmaceutical firm Novo Nordisk is pursuing a multi-pronged strategy to regain market share that it has lost to Eli Lilly in the lucrative obesity drug market. On Thursday, Novo Nordisk announced a new partnership with the conglomerate, CVS Health Corporation, which gives the weight loss drug Wegovy a preferred coverage status over its competitor Zepbound for customers who are insured for obesity medications. And at the same time, Novo Nordisk struck a deal in which CVS pharmacy will offer Wegovy at a discount for cash-paying customers who aren't insured for the medication. This move follows another collaboration forged between Novo Nordisk and the telehealth company Hims & Hers Health to offer discounted Wegovy. Additionally, the drug maker sells weight loss products to customers via its NovoCare Pharmacy program for a reduced price. Glucagon-like peptide-1 medications such as semaglutide (Ozempic, Wegovy) and tirzepatide (Mounjaro, Zepbound) were in shortage starting in 2022. The Food and Drug Administration declared the shortages over for tirzepatide and semaglutide this past winter. But between 2022 and this year, compounded versions of these medications had sometimes become a more accessible and affordable option for patients. Compounded products containing the same active ingredients fill a void if and when the branded medications are in scarce supply. Telehealth platforms, such as Hims & Hers, connect patients seeking treatments, which include compounded medications, to licensed healthcare providers, who perform virtual evaluations and prescribe medications if they deem them appropriate. Hims & Hers and other similar companies could offer patients compounded GLP-1s for far less money than the branded products. This posed a particular challenge to Novo Nordisk's sales of its weight loss therapeutics, as did competition from Eli Lilly's Zepbound, a GIP and GLP-1 receptor, which performed better than Wegovy in terms of its ability to lower weight. Now that the shortages are resolved, compounded GLP-1s are mostly being phased out, though the practice of compounding can still help in unusual circumstances in which custom-tailoring is indicated. For the most patients, it's out with compounded GLP-1s for weight loss and in with discounted branded drugs. In the wake of the removal of semaglutide and tirzepatide from the FDA's shortage list, the business model of selling directly to the consumer has become popular for the two main manufacturers of obesity drugs. Here, the patient often pays a discounted amount for the branded medicine. In 2024, Eli Lilly adopted a direct-to-consumer strategy for Zepbound, among other products, with its LillyDirect service. This service includes a DTC pharmacy and a referral network of in-person and telehealth clinicians. And LillyDirect allows uninsured or under-insured individuals not on Medicaid or Medicare to purchase Zepbound product directly after obtaining the requisite prescription from their doctor. The firm recently extended the range of Zepbound products available through LillyDirect with the addition of high-dose vials at $499. Rival Novo Nordisk also launched a DTC option, NovoCare Pharmacy, two months ago. Patients not insured in the public sector who wish to have access to Wegovy can acquire the drug for an out-of-pocket cost of $499 per month, provided they have a prescription and make use of the designated specialty pharmacy. This is the same amount customers pay when they access Wegovy from Hims & Hers. And now, following the agreement with CVS, cash-paying customers without weight loss drug coverage will be able to buy Wegovy for $499 per month at the pharmacy. In addition, for insured patients, CVS Caremark, the nation's largest pharmacy benefit manager, said that starting in July, the weight loss treatments Wegovy and Saxenda (liraglutide) will be the preferred GLP-1 medicines on its largest commercial formularies. It's unknown precisely what this implies in terms of out-of-pocket costs for patients. But generally patients with coverage for obesity drugs have monthly cost-sharing under $100. Notably, Zepbound will no longer be preferred and may even be excluded on certain formularies.
Reuters
29-04-2025
- Health
- Reuters
Novo Nordisk ties up with three telehealth firms to expand Wegovy access
April 29 (Reuters) - Novo Nordisk ( opens new tab said on Tuesday it was partnering with telehealth firms Hims & Hers (HIMS.N), opens new tab, Ro and LifeMD (LFMD.O), opens new tab to sell branded versions of Wegovy, ahead of potential restrictions on selling compounded versions of the obesity drug. This is an expansion of Novo's efforts to offer Wegovy to cash-paying customers. The drug was previously available through local pharmacies and Novo's direct-to-consumer pharmacy, called the NovoCare Pharmacy program. here. Patients will now be able to access Wegovy through the telehealth platforms. "We are seeing (more and more) patients receiving access to care for obesity through telehealth, and we wanted to make sure that we could be there and provide real Wegovy at the same place that they are receiving care," Dave Moore, executive vice president, U.S. Operations and president of Novo Nordisk told Reuters. The move comes at a time when bulk compounding of obesity treatments is likely to be significantly curtailed. A U.S. judge on Thursday rejected a bid by compounding pharmacies to keep making copies of Novo's popular diabetes and weight-loss drugs, Ozempic and Wegovy, while a legal challenge over drug shortages was underway. Several telehealth companies were allowed to sell cheaper copies of Eli Lilly's (LLY.N), opens new tab Zepbound and Novo's Wegovy when they were in shortage. The branded drugs have since been removed from the U.S. Food and Drug Administration's shortage list. "This should also be a very clear message that we have full supply of Wegovy ... we want everyone to know that all doses are available," said Moore. In March, Novo Nordisk launched NovoCare to supply the drug at a reduced cost of $499 for self-paying patients. Later that month, it extended the offer to all eligible cash-paying customers at their local pharmacy. Customers will be able to access NovoCare Pharmacy through a bundled offering, starting at $599 monthly, which includes a membership and access to all Wegovy doses, Hims & Hers said, adding that the offering will be available this week. Hims & Hers' shares jumped 29.9% to $36.90 in premarket trading. The company will still continue to offer personalized compounded versions of semaglutide on its platform, Hims' CEO Andrew Dudum said. "Adding Novo Nordisk's FDA-approved treatments at the best available cash price will help more patients nationwide get the obesity care they need to achieve their goals, particularly those without insurance coverage," said Ro's CEO Zach Reitano. Ro in December began offering single-dose vials of Zepbound and was directly integrated with Eli Lilly's direct-to-consumer website.
Yahoo
07-03-2025
- Health
- Yahoo
Wegovy price cut: Novo Nordisk cuts the price of the weight-loss drug for the uninsured
Less than two weeks after Zepbound-maker Eli Lilly reduced the price of the weight-loss drug, competitor Novo Nordisk said Wednesday it would cut the price of its popular weight-loss drug Wegovy for cash-paying customers. Novo Nordisk said patients who are prescribed Wegovy can purchase the obesity drug through the company's NovoCare Pharmacy for $499 per month. The injectable medication's price is the same for five dosages ranging from 0.25 to 2.4 milligrams and will be shipped directly to consumers' homes. The Danish drugmaker said the new price could appeal to the uninsured and those whose insurance doesn't cover the class of obesity medications called GLP-1, or glucagon-like peptide-1, medications. While health insurers often cover diabetes drugs such as Ozempic and Mounjaro, they are less likely to cover medication for obesity. A 2024 survey by benefits consultant Mercer said less than half of large employers covered GLP-1 drugs for obesity. That means consumers often face large bills for drugs that cost more than $1,000 per month before rebates or discounts. Novo Nordisk's discounted price is available only to consumers who buy the medication through the company's NovoCare Pharmacy. Cash-paying customers can purchase the drug for $650 at other pharmacies. Novo Nordisk spokesperson Jamie Bennett said the company plans to extend the $499 price to cash-paying customers at other pharmacies "in the near future." The list price for Wegovy remains at $1,349 for a one-month supply. Customers whose insurance covers the obesity drug typically pay a copay of no more than $25 per month, the company said. On Feb. 25, Novo Nordisk's competitor, Eli Lilly, cut the monthly price for lower-dosage vials of 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. Lilly also announced higher dosages of 7.5 mg and 10 mg at monthly prices of $599 and $699, respectively. Higher dosage prices will be discounted to $499 per month for the first fill, as well as refills within 45 days. The price cuts arrive as consumers are expected to lose access to less expensive, compounded versions of the weight-loss medications. The federal government allows compounding pharmacies to sell copies of drugs when the medications are in short supply. However, the FDA recently declared that blockbuster weight-loss drugs Wegovy and Zepbound are no longer in shortage. That means consumers who visit telehealth companies or other prescribers to get cheaper, compounded versions will need to get their medications elsewhere. This article originally appeared on USA TODAY: Cheaper Wegovy: Drug price cut for uninsured, self-pay customers Sign in to access your portfolio
USA Today
05-03-2025
- Health
- USA Today
Wegovy price cut: Novo Nordisk cuts the price of the weight-loss drug for the uninsured
Wegovy price cut: Novo Nordisk cuts the price of the weight-loss drug for the uninsured Show Caption Hide Caption Will Ozempic, Wegovy be affordable in the near future? Could the high cost of hugely popular weight loss drugs Ozempic and Wegovy be coming down in the near future? Cheddar Novo Nordisk is cutting the price of its weight-loss drug Wegovy to $499 per month for cash-paying customers who buy through its NovoCare Pharmacy. The discounted price is aimed at uninsured patients and those whose insurance doesn't cover weight-loss medications like Wegovy. The move follows a similar price reduction by competitor Eli Lilly for its weight-loss drug Mounjaro. Less than two weeks after Zepbound-maker Eli Lilly reduced the price of the weight-loss drug, competitor Novo Nordisk said Wednesday it would cut the price of its popular weight-loss drug Wegovy for cash-paying customers. Novo Nordisk said patients who are prescribed Wegovy can purchase the obesity drug through the company's NovoCare Pharmacy for $499 per month. The injectable medication's price is the same for five dosages ranging from 0.25 to 2.4 milligrams and will be shipped directly to consumers' homes. The Danish drugmaker said the new price could appeal to the uninsured and those whose insurance doesn't cover the class of obesity medications called GLP-1, or glucagon-like peptide-1, medications. While health insurers often cover diabetes drugs such as Ozempic and Mounjaro, they are less likely to cover medication for obesity. A 2024 survey by benefits consultant Mercer said less than half of large employers covered GLP-1 drugs for obesity. That means consumers often face large bills for drugs that cost more than $1,000 per month before rebates or discounts. How can I buy discounted Wegovy? Novo Nordisk's discounted price is available only to consumers who buy the medication through the company's NovoCare Pharmacy. Cash-paying customers can purchase the drug for $650 at other pharmacies. Novo Nordisk spokesperson Jamie Bennett said the company plans to extend the $499 price to cash-paying customers at other pharmacies "in the near future." The list price for Wegovy remains at $1,349 for a one-month supply. Customers whose insurance covers the obesity drug typically pay a copay of no more than $25 per month, the company said. On Feb. 25, Novo Nordisk's competitor, Eli Lilly, cut the monthly price for lower-dosage vials of 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. Lilly also announced higher dosages of 7.5 mg and 10 mg at monthly prices of $599 and $699, respectively. Higher dosage prices will be discounted to $499 per month for the first fill, as well as refills within 45 days. The price cuts arrive as consumers are expected to lose access to less expensive, compounded versions of the weight-loss medications. The federal government allows compounding pharmacies to sell copies of drugs when the medications are in short supply. However, the FDA recently declared that blockbuster weight-loss drugs Wegovy and Zepbound are no longer in shortage. That means consumers who visit telehealth companies or other prescribers to get cheaper, compounded versions will need to get their medications elsewhere.
Yahoo
05-03-2025
- Health
- Yahoo
Novo Nordisk Drops Price of Weight-Loss Drug Wegovy for Some Patients Paying Out of Pocket
Novo Nordisk is lowering the price of its weight-loss drug Wegovy to $499 per month for some patients paying out of pocket. The deal is available through the drugmaker's new NovoCare Pharmacy offering. Eli Lilly made a similar move last month, lowering the cost of its weight-loss drug Zepbound for some self-pay Nordisk (NVO) is lowering the price of its popular weight-loss drug Wegovy for some patients paying out of pocket. Wegovy will now be available for $499 per month at all dose levels through NovoCare Pharmacy, the drugmaker's new direct-to-patient delivery offering, Novo Nordisk said Wednesday. The offer applies to patients without insurance or those with commercial insurance that doesn't cover obesity medications. Patients could previously buy the drug without insurance for $650 per month, according to the company's website. The move comes after a recent Food and Drug Administration decision that the active ingredient in Wegovy and Novo Nordisk's other weight-loss treatment Ozempic was no longer considered to be in short supply. Last month, rival drugmaker Eli Lilly (LLY) also dropped the price of its popular weight-loss drug Zepbound for self-paying patients on the heels of a similar FDA ruling. Between them, Novo Nordisk and Eli Lilly dominate a weight-loss market that Goldman Sachs analysts reportedly said could reach $130 billion by 2030. Shares of Novo Nordisk rose close to 4% intraday Wednesday, but have lost about a quarter of their value over the past 12 months. CORRECTION—March 5, 2025: This article has been corrected to reflect Novo Nordisk made its announcement Wednesday. Read the original article on Investopedia Sign in to access your portfolio
