Lilly falls after rival Novo Nordisk rolls out Wegovy priced at $349
Shares of Eli Lilly LLY.N fall 1% to $1016.79 and Novo Nordisk NOVOb.CO down 1.4% at $27.58, premarket
Danish rival Novo Nordisk says it has begun selling its popular weight-loss drug Wegovy for $349 a month to cash payers
The same cash price will apply to most doses of Novo's diabetes drug Ozempic, except the highest 2 mg dose which will remain $499 - Novo
Lilly also announced the lowest dose of its obesity medicine Zepbound would be available for $299 per month as of January, with additional doses priced at $449 per month for cash-paying patients under the new deal
Novo and U.S. President Donald Trump announced a deal earlier this month to cut the prices of Wegovy and diabetes drug Ozempic, both known chemically as semaglutide, to $350 a month for cash payers starting in January, down from $499
Up to last close, LLY down ~33% YTD and NVO down ~44% YTD
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