Novo Nordisk offers Wegovy at lowered cost, Hims & Hers Health shares fall

Investing.com -- Novo Nordisk (NYSE:NVO) is introducing NovoCare Pharmacy, a direct-to-patient delivery option offering Wegovy at a reduced price of $499 per month for certain cash-paying patients.

The program is available to uninsured individuals and those with commercial insurance that does not cover obesity medicines, expanding access to the company’s blockbuster weight-loss drug.

The announcement weighed on shares of Hims Hers Health Inc (NYSE:HIMS), a telehealth provider that offers compounded versions of weight-loss drugs, which fell around 3% in premarket trading Wednesday.

Novo Nordisk U.S.-listed shares climbed nearly 5%.

The move follows the FDA’s recent announcement that the supply shortage of Wegovy has been resolved, with all dose strengths now meeting or exceeding demand.

By offering direct home delivery through CenterWell Pharmacy, Novo Nordisk aims to streamline patient access while reducing reliance on retail pharmacies. The company is also providing support services such as benefit verification, refill reminders, and live case management.

"Novo Nordisk continues to advance solutions for patients that improve affordability and access to our medicines, whether they have insurance or not," said Dave Moore, Executive Vice President of U.S. Operations and President of Novo Nordisk Inc.

He highlighted that over 55 million people in the U.S. now have coverage for weight-loss medications, and the majority of those with insurance pay between $0 and $25 per month for Wegovy.

Novo Nordisk is positioning the program as both a convenience and a safety measure, urging patients to use FDA-approved treatments instead of compounded semaglutide products, which have drawn regulatory scrutiny.

The company plans to extend lower pricing to cash-paying patients using traditional pharmacies in the near future.