Novo Nordisk (NYSE: NVO) has announced sweeping price cuts for its blockbuster GLP-1 drugs, Wegovy and Ozempic, offering patients access to the lowest doses for just $199/month.
New cash-paying patients will be able to access its anti-obesity treatments at that price for the first two months, the pharmaceutical behemoth confirmed in a press release today.
Also on Monday, the Danish multinational lowered the standard dose, cash-pay pricing to $349 a month as well.
The price cuts arrive shortly after President Donald Trump inked deals with Novo Nordisk and Eli Lilly to make their weight-loss drugs more accessible and affordable for Americans.
At the time of writing, Novo Nordisk stock is trading more than 40% below its year-to-date high.
What the Trump deal means for Novo Nordisk stock
Trump’s deal with NVO to cap GLP-1 prices at $245 per month for Medicare and Medicaid – and offering them at a discounted price ($350 per month) on TrumpRx – marks a historic expansion of obesity drug coverage.
For Novo Nordisk, this is a double-edged sword. On one hand, it opens the door to millions of new patients, especially seniors who were previously excluded from coverage.
On the other hand, it accelerates pricing pressure and could weigh on gross margins.
Still, the trade-off may be worthwhile: broader access could drive higher volumes and entrench semaglutide’s dominance before oral competitors arrive.
NVO stock price declined this morning, therefore, likely reflects near-term caution – not long-term pessimism.
What Novo’s new pricing means for rival Eli Lilly
Novo Nordisk’s aggressive pricing may put pressure on Eli Lilly (NYSE: LLY) – which has been gaining ground with its own GLP-1 drug, Zepbound.
While Lilly had already lowered prices on its LillyDirect platform, Novo’s $199 introductory offer undercuts Zepbound’s $299 a month entry point.
However, a more than 20% increase in LLY share price since early October suggests investors see the TrumpRx deal as a net positive.
Why? Mostly because of Lilly’s broader pipeline, including orforglipron (its oral GLP-1 candidate) positions it well for future growth.
Moreover, TrumpRx levels the playing field by standardizing access and pricing, reducing Novo’s first-mover advantage. In this light, NVO’s price cut may be more defensive than disruptive.
Is it worth buying NVO shares heading into 2026?
Novo Nordisk’s latest move signals a strategic pivot: prioritize scale over premium pricing.
With GLP-1 demand surging and political pressure mounting, the firm is betting that affordability will drive volume and fend off both branded and compounded competition.
The TrumpRx initiative, meanwhile, reshapes the reimbursement landscape and could catalyze a new era of obesity drug adoption.
For investors, the message is clear: expect volatility, but don’t underestimate the long-term growth runway for GLP-1 leaders.
Wall Street currently has a consensus “overweight” rating on Novo Nordisk shares, with a mean target of about $63, indicating potential upside of nearly 40% from here.
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