Price of Wegovy, Mounjaro Dump in the US and the UK

The price of Novo Nordisk’s weight loss drug Wegovy and type 2 diabetes drug Ozempic fell in the United States and the UK following rising competition and volumes from cheaper alternatives. The prices of Wegovy in the United States fell slightly in the first quarter. Novo anticipates further decline through the rest of the year, according to Karsten Munk Knudsen, the company’s chief financial officer.

During an investor call, Knudsen said, “we do see continued reduction in price” in the United States market. Knudsen cited increased volumes and competition. The comment came after the Danish drugmaker raised its full-year outlook as a result of skyrocketing demand for the weekly injection. Ozempic and Wegovy contain the same active ingredient, but the former is used for type 2 diabetes treatment.

Wegovy also saw price cuts in British pharmacies

Slimming clinics and online pharmacies in Britain are cutting prices for Mounjaro and Wegovy just a month after the weight loss drugs launched in the country. This follows easing shortages of the drugs and growing competition between retailers. 

There is a rising fear that patients who purchase the drugs out of pocket rather than relying on the National Health Service (NHS) will miss out on long-term aftercare by switching providers. This category of patients already accounts for a vast chunk of revenues from both drugs.

In February, Simple Online Pharmacy cut the price of starter doses of Mounjaro from 179 pounds to 159 pounds (approx. $198) for a one-month supply. Last Monday, it slashed that price further to 149 pounds. 

The retailer told Reuters that the demand for the new obesity drugs was alarming and still growing but noted that Mounjaro’s launch had “significantly alleviated” the supply chain pressure. In a survey carried out by Simple Online Pharmacy involving 500 people who used Mounjaro or Wegovy, a third said they had tried to access the medication through the state-funded NHS but found it either difficult or too long.

In recent months, London Slimming Clinic and Mayfair Weight Loss Clinic which also offer online prescription and pharmacy services have cut the prices of either Wegovy or Mounjaro. Professor of health economics and founder of consultancy Intelligent Parameters, Darrin Baines, said the market was opening up after initial supply constraints.

“The (drug retail) industry is trying to find out what its margin is on this ... Pharmacies with an online business are trying to offer deals to win customers,” Baines said.