Novo Nordisk has announced partnerships with telehealth companies Hims & Hers, Ro, and LifeMD to expand access to its popular weight-loss drug Wegovy for cash-paying patients in the United States. The move comes as the Danish pharmaceutical company seeks to assert its market position following a recent legal victory against compounding pharmacies.
The announcement triggered significant market reactions, with shares of Hims & Hers jumping more than 25% and LifeMD shares surging over 36% in afternoon trading.
"This should also be a very clear message that we have full supply of Wegovy... we want everyone to know that all doses are available," Dave Moore, executive vice president of U.S. operations for Novo Nordisk, told Reuters.
The strategic expansion follows a U.S. judge's recent decision rejecting a bid by compounding pharmacies to continue selling copies of Wegovy while a legal challenge over drug shortages plays out. Larger outsourcing facilities that produce compounded drugs in bulk have been given until May 22 to cease production, while smaller compounding pharmacies must stop immediately.
Both Hims & Hers and Ro had previously been selling compounded versions of semaglutide, the active ingredient in Wegovy and Novo's diabetes drug Ozempic. Hims CEO Andrew Dudum stated that the company will continue to offer personalized compounded versions of semaglutide on its platform alongside the branded Wegovy option.
Through these new partnerships, patients can access Novo Nordisk's NovoCare pharmacy program directly through the three telehealth platforms. The program was launched earlier this year to make Wegovy more accessible to cash-paying patients at a reduced cost of $499, later extending the offer to eligible cash-paying customers at local pharmacies.
Hims & Hers announced it will begin offering all doses of Wegovy this week, starting at $599 per month to eligible cash-paying patients with a prescription. Meanwhile, Ro and LifeMD stated they would provide access to all doses of the drug for $499 per month.
This move mirrors similar strategies by competitor Eli Lilly, which has worked to make its obesity drug Zepbound more accessible to cash-paying patients, including a partnership with Ro to offer the medicine through its platform.
The telehealth partnerships represent Novo Nordisk's latest effort to maintain market dominance in the increasingly competitive weight-loss drug market while addressing accessibility concerns for patients paying out-of-pocket.
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