According to Bloomberg, the discounted price is aimed at uninsured patients or those whose commercial insurance does not cover obesity treatments. Typically, uninsured patients in the U.S. would pay around $1,350 per month for Wegovy.

The move follows a similar decision by pharmaceutical giant Eli Lilly, which recently lowered prices for its own weight-loss drug, Zepbound. Eli Lilly now offers smaller-dose vials of Zepbound—2.5 mg and 5 mg—at $399 and $549 per month, respectively, making the drug more accessible to patients without insurance coverage.

The rising demand for weight-loss medications has led to supply shortages, with the FDA reporting shortages for both Wegovy and Zepbound. By offering lower prices and direct sales to patients, Novo Nordisk and Eli Lilly aim to counter competition from cheaper, unauthorized versions of these drugs being sold by telehealth companies.

Following Novo Nordisk’s announcement, the company’s stock rose nearly 4% in Copenhagen, while shares of Hims & Hers, a telehealth firm offering weight-loss drug subscriptions, dropped by 7% in pre-market trading in New York.

With the market for weight-loss drugs projected to exceed $100 billion by the end of the decade, Novo Nordisk and Eli Lilly remain the dominant players with Wegovy and Zepbound leading the industry.