Novo Nordisk just made their third announcement, and it’s the best one yet! They will offer their diabetes medication Ozempic for $499 per month to US patients who pay cash. This new pricing approach reduces the monthly offer list price by more than half. The medicine now becomes much more accessible at a time when the pressure to reduce drug costs has intensified.
The move to sell Ozempic for a lower price comes after months of political pressure, especially from former President Donald Trump. In July, Trump sent letters to Novo Nordisk and other pharmaceutical companies urging them to adopt pricing models that would allow medications to be sold directly to consumers or businesses. This announcement comes on the heels of skyrocketing healthcare costs and an increasing public frenzy about high drug prices.
Ozempic is a billion-dollar blockbuster treatment for diabetes. It’s a member of the GLP-1 class of drugs, which help control blood sugar and lower appetite by imitating gut hormones. The active ingredient in both Ozempic and its sister drug Wegovy is semaglutide. The recent semaglutide shortage led to a huge increase in the popularity of these drugs. In response, Novo Nordisk promised to make things right.
In March, it made Wegovy available at 50% of its list price to Americans paying with cash. True to form with this latest effort, for all of these U.S. markets, GoodRx will be bringing Ozempic to the same deeply-discounted $499 per month price point. And these discounts will be available at over 70,000 pharmacies across the country, giving patients in need greater access and coverage.
Dave Moore, executive vice president of U.S. operations and global business development at Novo Nordisk, emphasized the importance of making medications affordable for all patients.
“It is well covered in the U.S., let’s not forget that there are some patients who pay out-of-pocket for this vital medicine.” – Dave Moore
This new pricing method is indicative of Novo Nordisk’s commitment to satisfying market competition as well as market demand. In that, the company is trying to out-compete other drug makers, in a race to control the lucrative market for these new GLP-1 drugs.
Moore argued from a patient safety standpoint, saying that ensuring access to medications approved by the best qualified scientists is imperative.
“We believe that if even a single patient feels the need to turn to potentially unsafe and unapproved knockoff alternatives, that’s one too many.” – Dave Moore
Additionally, Novo Nordisk is implementing a significant new price plan for Ozempic. Encouraging the use of generics and biosimilars is a profound step forward to reduce the cost of lifesaving medications for the U.S. healthcare system. To help those suffering from diabetes, the company is lowering the price of Ozempic for patients. This step meets the critical need for cheaper drug prices seen across the country.