Novo Nordisk (NVO) To Lower US Prices of its Injectable Wegovy Obesity Drug

​Novo Nordisk A/S (NYSE:NVO) is one of the Most Profitable Stocks to Buy Now. On November 17, Reuters reported that Novo Nordisk A/S (NYSE:NVO) will lower the US prices of its injectable Wegovy obesity drug.

The price reduction for injectable Wegovy follows the company’s earlier announcement on November 6, where it agreed with the US Administration to lower drug prices beginning in 2026. However, the price reduction timeline was accelerated as Reuters on November 17 reported the company began cutting the price of Wegovy from $499 to $349 per month for US cash-paying patients.

The report by Reuters also noted the CEO of Novo Nordisk A/S (NYSE:NVO), Mike Doustdar, pledging to go “all in” with its upcoming oral weight-loss pill, expected to be approved by the end of the year. This is significant as the company is locked in competition with Eli Lilly and is looking to avoid repeating the supply issues it faced with the launch of Wegovy in 2021. CEO Mike Doustdar said,

​”We have more than enough pills this time, so we’re going to go all in and really make this happen.”

​Wall Street has a mixed opinion on Novo Nordisk A/S (NYSE:NVO). On November 17, Evan Seigerman from BMO Capital lowered the firm’s price target on the stock from $55 to $50, while reiterating a Hold rating. Earlier on November 13, Kerry Holford from Berenberg Bank had also lowered the price target on the stock from $67 to $62, but maintained a Buy rating.

​Novo Nordisk A/S (NYSE:NVO) is a global healthcare company focused mainly on diabetes and obesity care.

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Disclosure: None. This article is originally published at Insider Monkey.