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The “Wegovy” weight loss injector is now available at the Achat pharmacy in Mitte, Germany, marking its one-year presence in the country.
Novo Nordisk announced on Tuesday the expansion of its weight loss drug, Wegovy, through telehealth platforms such as Hims & Hers Health, Ro, and Life MD, as the supply issues in the U.S. have been resolved.
Following the announcement, shares of Hims & Hers surged by 40% in premarket trading, while Novo Nordisk experienced a 3% increase in its stock price.
The Danish pharmaceutical company is striving to capture a larger market share now that many compounding pharmacies, which previously offered unauthorized, cheaper alternatives to Wegovy during its scarcity, face legal restrictions against producing such versions, save for rare exceptions.
“It was crucial for us to collaborate with telehealth companies to ensure patient access to Wegovy as the supply of compounded versions decreases,” stated Dave Moore, executive vice president of U.S. operations at Novo Nordisk, in an interview with CNBC.
Moore emphasized the positive response from patients eager to switch from compounded medications back to the branded version of Wegovy.
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The collaboration with telehealth providers is designed to streamline patient access to Wegovy, making it convenient for them to receive the medication directly at home. This new model includes a new online pharmacy, NovoCare, where patients can obtain Wegovy through their telehealth provider.
NovoCare offers Wegovy at a price of $499 per month for cash-paying patients, significantly lower than the standard monthly list price for those without insurance coverage for this medication.
Prices may vary slightly among the telehealth companies, which could incorporate additional services in their offerings, according to a Novo Nordisk spokesperson.
Starting this week, Hims & Hers will provide all dosage sizes of Wegovy, along with 24/7 care, nutritional counseling, and ongoing clinical support, at a cost of $599 per month for eligible cash-paying patients with a prescription.
Hims & Hers CEO Andrew Dudum mentioned that the partnership with Novo Nordisk could serve as a model for how patients can access high-quality medications and treatments more efficiently.
Earlier in the month, Hims & Hers also began offering Eli Lilly’s Zepbound for weight loss, along with the diabetes medication Mounjaro and the generic alternative liraglutide. However, Lilly has clarified in a statement that it has “no affiliation” with Hims & Hers.
The telehealth provider had been prescribing compounded semaglutide, the main ingredient in Novo Nordisk’s Ozempic and Wegovy, since May 2024 but has since reduced these offerings, except for personalized doses where clinically necessary.
Dudum affirmed their commitment to advocating for consumer rights in access to medications. “The regulations are quite explicit on these matters,” he noted.
During instances of FDA-declared drug shortages, pharmacists are permitted to create compounded versions of brand-name drugs. However, the need for such practices can also arise on a case-by-case basis for specific patient needs, such as difficulties swallowing pills or allergies to certain ingredients.
Despite this, drug manufacturers and health experts have raised concerns about the safety of compounded drugs, which lack FDA approval. Large compounding pharmacies that produce semaglutide copies in bulk without prescriptions must cease production by May 22, while smaller, state-regulated pharmacies have already passed their April 22 deadline.
“We must adhere to the regulations,” Moore remarked. “This approach is essential in serving patients effectively.”
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