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Investing.com -- GoodRx (NASDAQ:GDRX) stock surged 18% after announcing a collaboration with Novo Nordisk (NYSE:NVO) to offer Ozempic and Wegovy to eligible self-paying patients for $499 per month.
The partnership marks a significant price reduction for these popular GLP-1 medications and represents the first time Ozempic has been made available at this self-pay price point. The offer is effective immediately and available at over 70,000 retail pharmacies nationwide.
This collaboration comes amid soaring demand for GLP-1 medications, with GoodRx reporting that nearly 17 million people visited its platform seeking savings and information on these drugs over the past year—a 22% increase YoY.
"Demand for GLP-1 medications is at an all-time high, but too many Americans still face barriers accessing them," said Wendy Barnes, President and Chief Executive Officer of GoodRx. "By partnering with Novo Nordisk, we’re taking a significant step forward in making these innovative brand-name treatments more accessible for millions of people who need them."
The deal addresses a significant gap in the market, as many patients lack insurance coverage for these medications, particularly when prescribed for weight loss. GoodRx research indicates that 19 million people have no coverage for GLP-1s prescribed for weight management.
Shares of competitor Hims & Hers Health fell 2.3% following the announcement, suggesting investors view the GoodRx-Novo Nordisk partnership as potentially disruptive to other players in the telehealth and prescription drug space.
The partnership allows GoodRx to leverage its platform to deliver savings directly to patients seeking FDA-approved treatments for type 2 diabetes and obesity, potentially accelerating patient access to these in-demand therapies.
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