Novo Nordisk Lowers Wegovy Costs for Cash-Pay Patients, Stock Up 4%

Group 1: Novo Nordisk's New Initiative - Novo Nordisk is launching a direct-to-patient online pharmacy called NovoCare, offering its obesity injection Wegovy at a discounted price of $499 per month for uninsured patients and those with insurance that does not cover obesity medicines [1] - Wegovy's current market price is approximately$1,350 per month, but insured patients typically pay between $0 to$25 [2] - The stock of Novo Nordisk rose nearly 4% following the announcement, indicating positive market reception to the new pricing strategy [2] Group 2: Market Context and Competitors - The launch of Novo Nordisk's discounted Wegovy follows a similar pricing strategy by Eli Lilly, which has also reduced prices for its obesity treatment Zepbound to $499 per month through a self-pay program [5] - The FDA announced in late February that the shortage of Wegovy has been resolved, allowing for increased availability of the drug [4] - The removal of Wegovy and Lilly's products from the FDA's shortage list has negatively impacted telehealth companies like LifeMD and Hims & Hers Health, whose stocks have dropped over 30% since the announcement [9]