Novo Nordisk announced a significant price reduction for its weight-loss drug Wegovy and diabetes medication Ozempic, effective Monday. The cash price for both medications will drop by 30%, bringing the monthly cost down to $349 from $499 for patients paying out of pocket. This change will be implemented at approximately 70,000 retail pharmacies, including major chains like Walmart and Costco.

Dave Moore, executive vice president of Novo Nordisk, emphasized the company's commitment to making these FDA-approved medications more affordable. "As pioneers of the GLP-1 class, we are committed to ensuring that real, FDA-approved Wegovy and Ozempic are affordable and accessible to those who need them," he stated.

In addition to the price cut, Novo Nordisk is introducing a temporary offer for new cash-paying patients. For the first two months, they can access the two lowest doses of Wegovy and Ozempic for just $199 per month. After this introductory period, the standard price of $349 will apply. This offer is available until March 31, 2026.

The price reduction aligns with recent agreements between Novo Nordisk and the Trump administration aimed at improving access to these medications. The administration's initiatives include introducing Medicare coverage for obesity drugs and launching a new direct-to-consumer website, TrumpRx, which will offer discounted medications.

While the cash price for most doses of Ozempic will also be $349, the highest 2 mg dose will remain at $499. The company is also facing competition from Eli Lilly, which has its own weight-loss drug, Zepbound, priced at $299 for the lowest dose starting in January.

Novo Nordisk's recent pricing strategy is part of a broader effort to enhance access to its medications. The company has been under pressure to respond to market competition and has made significant changes, including appointing a new CEO and announcing layoffs. The new cash offers can be accessed through the company's direct-to-consumer pharmacy, NovoCare, and various partners, including telehealth providers and retail pharmacies.