Copyright Investor's Business Daily
The Trump administration announced deals Thursday with Eli Lilly (LLY) and Novo Nordisk (NVO) to slash the prices of their weight-loss drugs by as much as 74%. Under the terms of the deal, Novo Nordisk's Ozempic and Wegovy will cost $350 per month for patients paying cash through the new direct-to-consumer website, TrumpRx. Ozempic, a type 2 diabetes drug, wholesales for $1,000 a month, while weight-loss drug Wegovy goes for $1,350. Patients seeking Eli Lilly's obesity treatment Zepbound will pay just $346 a month on TrumpRx. That's 68% lower than the $1,086 wholesale acquisition cost. The deal also includes weight-loss pills from Novo and Lilly. If approved, oral Wegovy will cost just $150 a month, while Lilly's counterpart, orforglipron, will carry the same $346 monthly price tag as Zepbound. Notably, the Medicare prices for Ozempic, Wegovy, Zepbound and Lilly's diabetes drug Mounjaro will be $245 a month. "Today's announcement makes available potentially life-changing medications to adults struggling with obesity, representing a historic opportunity to reverse the obesity epidemic and associated chronic disease crisis when coupled with lifestyle changes to preserve and improve health gains long-term," the White House said in a fact sheet detailing the deals. Eli Lilly stock rose 1% to 934.81, while Novo Nordisk stock sank 2% to 47.47 in midday trades. More to follow. Follow Allison Gatlin on X/Twitter at @AGatlin_IBD. YOU MAY ALSO LIKE: Novo Nordisk CFO On Metsera, Hims And Lilly, And Why 'Hyper Growth' Has Stalled Moderna Surges; Covid Vaccine Sales Decline, But Top Expectations Want More IBD Insights? Subscribe To Our Investing Podcast! Short-Term Trades Can Add Up To Big Profits. IBD's SwingTrader Shows You How
