Novo Nordisk Expands Wegovy Access Through Telehealth Partnerships with Hims & Hers, Ro, and LifeMD

Novo Nordisk has announced an exciting partnership with telehealth providers Hims & Hers Health, Ro, and LifeMD to offer its weight loss medication, Wegovy. In a strategic move to secure a larger market share, especially since newer legal restrictions have limited compounding pharmacies from producing less expensive, unapproved versions of Wegovy, Novo Nordisk is making its drug more accessible. Patients can now acquire Wegovy through the company’s direct-to-consumer online pharmacy, NovoCare, via these telehealth services.

This announcement significantly impacted the stock market, with Hims & Hers shares surging by 30% in premarket trading on Tuesday, while Novo Nordisk experienced a commendable 3% rise in its stock price.

Compounding pharmacies, once popular for supplying cheaper alternatives during a Wegovy shortage caused by soaring demand, are now under strict regulations. Recognizing the need to adapt, Novo Nordisk is actively working to cater to these patients. Dave Moore, Executive Vice President of U.S. Operations at Novo Nordisk, stated to CNBC, “We knew it was crucial to collaborate with telehealth companies to ensure Wegovy remains accessible as compounding diminishes.”

Moore expressed satisfaction with the public’s keen interest in acquiring branded Wegovy, highlighting the opportunity to transition patients from compounded versions to the official medication. Through telehealth platforms, customers can directly access NovoCare, which offers Wegovy at a cash price of $499 monthly—roughly 50% of its regular list price—for those without insurance coverage for the weekly injections.