Novo Nordisk Price Cut Lowers Ozempic, Wegovy Costs

Novo Nordisk said in a press release on February 24, 2026, that it will align list prices for Wegovy, Ozempic, and Rybelsus to lower out-of-pocket costs for patients with high-deductible or co-insurance plans.

New List Price and Scope

The company set a new wholesale acquisition cost (WAC) of $675 per month for Wegovy, Ozempic, and Rybelsus, effective January 1, 2027. This reduces Wegovy’s price by about 50% and Ozempic’s by roughly 35%. The adjustment applies to all doses: Wegovy injections at 2.4 mg and tablets at 25 mg; Ozempic injections at 0.5 mg, 1 mg, and 2 mg; and Rybelsus tablets at 7 mg and 14 mg.

Novo Nordisk said direct-to-patient self-pay pricing, including its NovoCare Pharmacy program and telehealth partners, will remain unchanged. The company framed the cuts as targeting patients whose out-of-pocket costs depend on list prices, such as those with high-deductible or co-insurance health plans. It noted the changes could expand access for more than 100 million people living with obesity and over 35 million with type 2 diabetes in the U.S. The announcement did not include forward guidance on revenue, earnings, or market share.

Market Reaction and Competitive Context

Novo Nordisk faces growing competition from Eli Lilly’s GLP-1 drugs Mounjaro and Zepbound. Results from the CagriSema trial, reported February 23, 2026, showed Novo’s next-generation obesity drug produced mean weight loss of 20.2% at 84 weeks, trailing Eli Lilly’s tirzepatide (Zepbound), which achieved 23.6%. The trial also underperformed in diabetes studies. Analysts sharply cut long-term revenue forecasts for CagriSema from about $18.4 billion in 2024 projections for 2030 to roughly $6.9 billion in current consensus.

Shares of Novo Nordisk fell 2.61% by the close on the day of the announcement. Analysts said the clinical setback extends Lilly’s commercial advantage and called for a strategic overhaul and broader diversification beyond obesity and diabetes. Wegovy and Ozempic are listed on the Trump administration discount platform Trumprx.gov, and Novo had announced an earlier pricing plan for these medicines in November 2025.

Jamey Millar, executive vice president of U.S. operations, said, “Our actions today answer that call and remove cost barriers so the value of Wegovy® and Ozempic® can be realized by more patients.”