Novo Nordisk to slash GLP-1 list prices by up to 50% in U.S. to cut costs for insured patients

Novo Nordisk on Tuesday said it plans to slash the monthly list prices of its popular obesity and diabetes drugs in the U.S. by up to 50% starting in 2027, in a bid to make the treatments more accessible to patients with insurance coverage. 

The obesity injection Wegovy, its new pill counterpart, the diabetes shot Ozempic and the oral diabetes drug Rybelsus will have a new lower list price of $675 per month starting on Jan. 1, 2027. The Wegovy medicines both currently have list prices of around $1,350 per month, while the diabetes drugs have list prices of around $1,027 per month.

For the first time, Novo said its price cuts are targeting insured patients whose out-of-pocket costs are linked to list prices, such as people with high-deductible health plans or co-insurance benefit designs. The Danish drugmaker has previously cut the direct-to-consumer prices of Wegovy and Ozempic, which primarily benefit cash-paying patients who often don't have insurance coverage for the drugs. 

The move could help Novo stay more competitive with Eli Lilly, which now holds the majority share in the blockbuster GLP-1 market. Lilly's more effective drugs and earlier foray into the direct-to-consumer space have allowed it to take the lead in the space, but the company has yet to significantly lower the U.S. list prices of its medicines.

"Private and public payers, as well as patients, want access and have been calling for lower list prices," Jamey Millar, Novo Nordisk's head of U.S. operations, said in a statement. "Our actions today answer that call and remove cost barriers so the value of Wegovy and Ozempic can be realized by more patients."