Novo Nordisk Cuts Drug Prices: Will It Expand Access?

Novo Nordisk announced Tuesday it will reduce the list prices of its popular weight loss drug Wegovy and its diabetes medications Ozempic and Rybelsus by up to 50%, starting in 2027, in a move the Danish drugmaker says is intended to improve affordability and access.

The list price reductions will bring the monthly cost of all three semaglutide products to $675, according to the company. Currently, Wegovy lists for $1,349 a month, while Ozempic and Rybelsus each list for $1,028. Novo Nordisk stated the change is aimed at benefiting patients whose costs are tied to list prices, such as those with high deductibles or co-insurance through their insurance plans.

The announcement comes as Novo Nordisk battles Eli Lilly for market share in the rapidly growing market for GLP-1 receptor agonists, a class of drugs used for both diabetes and weight loss. Eli Lilly manufactures Zepbound for weight loss and Mounjaro for diabetes. Both companies have been engaged in lowering prices, particularly for cash-paying customers, and have secured “Most Favored Nation” deals with the Trump administration to expand Medicare access to their medications.

However, experts caution that the impact of Novo Nordisk’s list price reduction may be limited. While the change will lower out-of-pocket costs for some insured patients, what truly influences coverage decisions by employers and other payers is the “net price” – the actual cost after rebates and discounts are applied.

The list price change will not affect self-pay prices, Novo Nordisk clarified. Wegovy currently sells for between $149 and $299 a month through direct-to-consumer channels, depending on dosage, with the injectable pen costing $349 a month, and a discounted $199 price available for new patients for the first two months. The Ozempic injectable pen ranges from $349 to $499 a month, with new self-pay patients also eligible for a $199 introductory price for two months.

The move is the latest development in what industry observers are calling “GLP-1 price wars,” as demand for these medications continues to surge. Novo Nordisk shares experienced a decline following the announcement, according to reports.