Novo Nordisk Expands Wegovy Access Through Telehealth Partnerships

NEW YORK, NY — Novo Nordisk announced on Tuesday that it will make its weight loss drug, Wegovy, accessible through telehealth providers like Hims & Hers. This decision comes as the medication is no longer in short supply in the United States.

Shares of Hims & Hers jumped 40% in premarket trading after the announcement, while Novo Nordisk’s stock increased by 3%. The Danish pharmaceutical company aims to capture more patients now that strict regulations limit the creation of cheaper compounded versions of Wegovy, which were popular during its previous shortage.

Dave Moore, executive vice president of U.S. operations at Novo Nordisk, emphasized the importance of partnering with telehealth companies to facilitate access to Wegovy as compounded options decrease. “We’re really pleased about the level of interest to access branded Wegovy,” Moore told CNBC. He described the new partnerships as a way to streamline the experience for patients.

Patients will be able to access Novo Nordisk’s direct-to-consumer online pharmacy through these providers. Wegovy will be available for $499 a month in cash, a price significantly lower than its standard list price for those without insurance. However, telehealth companies may charge more depending on the additional services offered, according to a spokesperson for Novo Nordisk.

This week, Hims & Hers will start offering all dosage sizes of Wegovy, along with access to continuous care and nutritional guidance, starting at $599 per month for cash-paying patients who have a prescription. CEO Andrew Dudum believes this partnership will serve as a model for how patients access quality medications.

Earlier this month, Hims & Hers announced that patients could get access to other diabetes medications, aligning some offerings with Novo Nordisk but clarifying that they have “no affiliation” with the drugmaker.

Since May 2024, Hims & Hers has been prescribing compounded semaglutide, the active ingredient in Wegovy and Ozempic. Although they have had to limit offering compounded medications, Dudum stated that personalized doses could still be available when necessary.

“We will always fight for consumers’ rights,” Dudum stated. “The regulation is very clear.”

During a specified period, pharmacists could legally create compounded versions of brand-name drugs but only when medically justified. While some health experts are concerned regarding safety, especially since compounded drugs aren’t FDA-approved, larger pharmacies face a deadline of May 22 to cease marketing these alternatives.

“The spirit of this is that we stay true to what the rules are,” Moore said, reinforcing his commitment to serving patients properly.