Novo Nordisk sets $675 monthly list price for Wegovy, Ozempic, Rybelsus

Novo Nordisk announces it will lower U.S. list prices for its semaglutide medicines Wegovy, Ozempic and Rybelsus to a common $675 per month, effective January 1, 2027. The move applies to all doses of the three drugs and is intended to reduce out-of-pocket costs for patients in insurance designs that tie cost sharing to list prices.

The company said the change will roughly halve the list price of Wegovy, which currently carries a list price near $1,349 per month, and will cut the list price of Ozempic from about $1,027 a month to $675, a reduction of roughly 34 to 35 percent. Rybelsus, the oral GLP-1, will also adopt the $675 list price; all three medicines previously had list prices above $1,000 per month.

Novo Nordisk identified patients whose copays and coinsurance are calculated off list price as the primary beneficiaries. The company said the action targets people with high-deductible plans and coinsurance designs whose up-front costs rise with higher list prices. Direct-to-consumer portal pricing will remain unchanged, the company said; Novo previously offered injectable Wegovy and most Ozempic doses to direct buyers for $349 per month, down from $499.

In a company statement attributed to Jamey Millar, executive vice president of U.S. operations, Novo Nordisk framed the cut as a response to demand for broader access. Millar said, "Lowering the list price of Wegovy® and Ozempic® is the best approach to address the unprecedented opportunity to help more than 100 million people living with obesity and over 35 million people with type 2 diabetes in the United States. Private and public payers, as well as patients, want access and have been calling for lower list prices. Our actions today answer that call and remove cost barriers so the value of Wegovy® and Ozempic® can be realized by more patients. The lower list price is intended to connect more people with our innovative medicines, specifically those whose out-of-pocket costs are linked to list price, such as individuals with high-deductible health plans or co-insurance [...]"

Pharmacies and payers will see the relisting take effect across branded doses specified by the company, including Wegovy 2.4 mg injections and 25 mg tablets, Ozempic 0.5, 1 and 2 mg injections, and Rybelsus 7–14 mg tablets. Novo said the timing coincides with implementation of lower negotiated Medicare prices for these drugs, which are set substantially below the new list price in the federal program.

The announcement comes as the GLP-1 market grows more competitive. Eli Lilly's weight-loss drug Zepbound has captured market share, and Novo Nordisk disclosed late-stage results this week showing its next-generation obesity medicine CagriSema underperformed Zepbound in a head-to-head trial. The release of those results triggered a sharp market reaction earlier in the week, with Novo shares falling about 16 percent on Monday; shares moved lower again in premarket trade around the price announcement.

Analysts have pared forecasts for Novo after recent trial data, and investors are watching whether the list-price cut will change net pricing dynamics, including rebates and payer contracts. The company said the action is limited to list price and does not automatically alter net price arrangements or patient support programs. Observers say the shift could ease cost burdens for insured patients who face list-price-driven cost sharing while leaving cash-pay pricing and Medicare reimbursement structures to play large roles in overall access and affordability.