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Investing.com - Eli Lilly (NYSE:LLY) announced on Tuesday that it would begin selling 7.5 milligram and 10 milligram single-dose vials of its Zepbound weight-loss drug at a roughly $150 discount to its injector pen versions.
Shares in the group edged higher in early U.S. trading.
Lilly said in a statement that patients could buy the Zepbound vials for $499 per month on its LillyDirect website, roughly 23% cheaper than the $650 it charges for its injector pen to insured patients whose coverage does not include the medicine.
Self-pay patients with obesity now have additional vial options as well, including at 2.5 mg, 5 mg, 7.5 mg, and 10 mg doses. Lilly is also slashing the price for a month’s supply of the two lowest doses by about $50 to $349 and $499, respectively.
Patrik Jonsson, President of cardiometabolic health at Lilly, said the business is looking for new options to both improve the affordability and availability of Zepbound for patients paying out-of-pocket.
Zepbound is a key medication for Lilly as it looks to compete in the burgeoning market for obesity drugs, which analysts have estimated could be worth $200 billion by 2031. The drug’s main rival, Novo Nordisk (NYSE:NVO)’s Wegovy, costs $650 for a month’s supply to out-of-pocket patients and is not sold in vials.
Still, Zepbound’s latest offer of $499 per month for Zepbound is higher than those typically charged by compounding pharmacies in the U.S. Recent shortages of Zepbound and Wegovy have driven more patients to these medications, although U.S. regulators have taken Wegovy and Zepbound off the shortage list over the past three months.
Late on Monday, Hims & Hers warned that it may stop selling legal copies of Wegovy, sending shares in the U.S. telehealth firm down sharply on Tuesday.
(Reuters contributed reporting.)