Novo Nordisk partners with Ro, Hims and LifeMD to sell low-cost Wegovy

Novo Nordisk is partnering with online telehealth companies to sell a direct-to-consumer, lower cost version of its popular weight-loss drug Wegovy.

The pharmaceutical company announced it would be partnering with Hims & Hers., LifeMD and Ro. to provide all five dose strengths of its weight-loss GLP-1 medication Wegovy at a reduced cost of $499. All doses will be delivered with a once-weekly single-dose pen.

Novo Nordisk's direct-to-consumer pharmacy, NovoCare® Pharmacy, was announced last month, meant for patients who are uninsured or on plans that don't cover obesity drugs.

The list price for one month’s supply of Wegovy is normally $1,349 without insurance.

Dave Moore, Novo Nordisk's executive vice president of U.S. operations, said partnering with telehealth companies was an "important step forward in allowing patients to receive care in the way they choose and helping them to achieve their weight loss goals with an authentic, FDA-approved medicine."

These telehealth companies sold compounded versions of semaglutide, significantly less expensive than the Food and Drug Administration (FDA)-approved version sold by Novo Nordisk, online while semaglutide was considered to be in shortage by the FDA.

That ended earlier this year when the FDA officially moved both Ozempic and Wegovy off the shortage list, finding that there was enough to meet or exceed current demand in the U.S. Groups representing compounding pharmacies had pushed back against this change, but ultimately the shortages were declared over.

Novo said in its announcement that CenterWell Pharmacy would be the dispensing pharmacy that would fulfill Wegovy orders made through its telehealth partners.

"Bringing our teams together and continuing to explore our shared commitment and focus on delivering the future of healthcare has been inspiring," Hims & Hers CEO Andrew Dudum said in a statement. "We share a vision of what consumer-centered healthcare looks like, and this is just the first step towards delivering that future.”

In response to the news on Tuesday, the stock prices of Novo Nordisk and Hims & Hers shot up, with the latter stock price rising by nearly $10.

Ro CEO Zach Reitano said, "Adding Novo Nordisk's FDA-approved treatments at the best available cash price will help more patients nationwide get the obesity care they need to achieve their goals, particularly those without insurance coverage."

Justin Schreiber, chairman and CEO of LifeMD, said the partnership would allow more patients to access Wegovy without "unnecessary delays or barriers."