Novo Nordisk says WeightWatchers will sell Wegovy, announces US$299 price

This image shows the logo of WeightWatchers on a mobile phone, and the company's website, in New York, March 7, 2023. (AP Photo/Richard Drew, File)

Novo Nordisk said on Thursday it will collaborate with WeightWatchers to sell its blockbuster weight-loss drug Wegovy, starting July 1.

Under the deal, cash-paying patients can access a month’s supply of Wegovy through the Danish drugmaker’s Novocare pharmacy for US$299. The one-time price will also be available through Novo’s other telehealth partners through July 31, the company said in a release.

Novo recently announced the end of its collaboration with Hims and Hers Health, citing the telehealth platform’s sales of Wegovy copies and marketing tactics.

WeightWatchers, which has exited bankruptcy, no longer offers compounded versions of semaglutide, the active ingredient in Wegovy and other Novo Nordisk medicines, according to the company’s website.

“We will continue to pursue and build on agreements with companies that share our values and refine initiatives that help improve access to our FDA-approved medicines for patients,” said Dave Moore, an executive vice president at Novo Nordisk, adding that it is in talks with other potential partners.

Novo said it is maintaining deals with Ro and LifeMD, rivals to WeightWatchers.

WeightWatchers, intending to shed over $1 billion in debt, filed for Chapter 11 bankruptcy in May as part of a restructuring plan. In court documents, the company said its weight management program faced competition from sales of drugs like Wegovy.

The partnership helps Novo capture patients who have been using compounded versions of the medicine, while allowing WeightWatchers to reboot its weight-loss drug strategy, said Evan Seigerman, an analyst at BMO Capital Markets.

Referring to the abrupt end to Novo’s deal with Hims, Seigerman said, “Novo is in a position where they can probably demand more of WeightWatchers to give them access to branded products.”

Demand for cheaper compounded versions of popular weight-loss drugs boosted sales at Hims and other telehealth sites over the past two years. Sales of the copies were allowed after the U.S. Food and Drug Administration declared a shortage of some doses of Wegovy starting in 2023.

After declaring an end to the shortage with all doses available, the FDA set a May 22 sunset date for compounders to halt sales of the copies.

Hims and some other compounders have continued selling copies under an exception for personalized dosages for patients. After its deal with Novo fell apart, Hims’ CEO Andrew Dudum in a statement this week accused the drugmaker of attempting to steer patients toward the branded version of Wegovy.

(Reporting by Mariam Sunny in Bengaluru and Amina Niasse in New York; Editing by Shreya Biswas, Caroline Humer and Bill Berkrot)