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Novo Nordisk A/S (NVO) is trading sharply higher following the announcement that the company will offer its GLP-1 drugs, Ozempic (for diabetes) and Wegovy (for weight loss), at a cash price of $499 per month to self-paying patients through GoodRx (GDRX). This move is expected to enhance accessibility for uninsured or underinsured patients, potentially boosting sales volume for these blockbuster drugs.

Concurrently, GDRX is surging on the news, as the addition of Ozempic and Wegovy to its platform is anticipated to serve as a substantial top-line growth catalyst. GDRX was already distributing Eli Lilly’s (LLY) competing GLP-1 drugs, Mounjaro (diabetes) and Zepbound (weight loss), positioning it as a key player in the growing market for these therapies. The inclusion of NVO’s drugs further strengthens GDRX’s platform, likely driving increased user engagement and transaction volume.

• Furthermore, last Friday, NVO announced that the FDA granted accelerated approval for Wegovy (semaglutide 2.4 mg) for a new indication: the treatment of adults with noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) with moderate to advanced liver fibrosis. This approval, based on the Phase 3 ESSENCE trial, demonstrated that 63% of patients treated with Wegovy achieved resolution of steatohepatitis without worsening liver fibrosis, compared to 34% on placebo, yielding a statistically significant 29% difference in response rate.
• This new indication significantly expands Wegovy’s addressable market beyond obesity, tapping into a patient population with a serious liver condition that lacks robust treatment options. The approval is likely to bolster Wegovy’s sales growth by attracting new patients and reinforcing its clinical versatility. However, the accelerated approval status may require further confirmatory trials, which could pose risks if outcomes are not as favorable. Nonetheless, this development underscores NVO’s commitment to expanding its therapeutic portfolio.
• NVO’s diabetes and obesity programs have lagged behind LLY’s in recent quarters. On August 6, NVO reported 1H25 results, with Diabetes and Obesity Care sales increasing 16% yr/yr, driven by a robust 56% growth in Obesity Care (primarily Wegovy) and an 8% rise in GLP-1 diabetes sales (Ozempic and Rybelsus). In contrast, LLY’s Q2 results showcased Mounjaro’s global sales soaring 68% to $5.20 bln and Zepbound’s U.S. sales skyrocketing 172% to $3.38 bln compared to the same period in 2024.
• Several factors contribute to this gap. LLY has benefited from aggressive pricing strategies, a stronger U.S. market presence, and fewer supply constraints for Mounjaro and Zepbound compared to NVO’s challenges with Wegovy and Ozempic shortages. Additionally, LLY’s tirzepatide (the active ingredient in Mounjaro and Zepbound) targets both GLP-1 and GIP receptors, potentially offering superior efficacy, which has resonated with prescribers and patients. NVO has also faced headwinds from compounding pharmacies offering cheaper, non-FDA-approved versions of semaglutide, eroding market share.
• The launch of Ozempic and Wegovy on GDRX represents a strategic move by NVO to regain competitive ground. By partnering with GDRX, NVO enhances the affordability of its GLP-1 drugs for self-paying patients, potentially capturing a larger share of the uninsured or high-deductible plan market. This pricing strategy could drive higher prescription volumes, particularly for Wegovy, which has faced accessibility challenges due to high list prices (often exceeding $1,300 per month).
• However, this approach may come at the cost of lower margins, as the $499 price point is significantly below the standard cash price. While increased volume could offset reduced per-unit profitability, NVO’s gross margin (currently around 84%) may face pressure if GDRX sales cannibalize higher-priced channels.

NVO’s decision to offer Ozempic and Wegovy at $499 per month on GDRX, coupled with Wegovy’s new MASH indication, positions both NVO and GDRX for potential growth. This development provides NVO with a much-needed catalyst to boost GLP-1 sales and regain competitive footing, while GDRX benefits from increased platform traffic and revenue. For both companies, this partnership appears to be a win-win.