LifeMD Offers Novo Nordisk’s Ozempic For $499 A Month To Eligible Patients

LifeMD Inc. (LFMD) announced on Tuesday that it has partnered with Novo Nordisk AS (NVO) to offer Ozempic through an integration with NovoCare Pharmacy to eligible patients.

According to the company’s announcement, eligible self-pay and uninsured patients, as well as insured patients whose plans do not cover GLP-1 therapies, now have direct access to all FDA-approved dose strengths of Ozempic within LifeMD’s end-to-end virtual care platform for $499 a month.

LifeMD’s shares were up nearly 3% in Tuesday’s opening trade, while Novo Nordisk's shares were down 3%. Retail sentiment on Stocktwits around LifeMD trended in the ‘neutral’ territory, while users felt ‘extremely bullish’ about Novo Nordisk.

LifeMD’s addition of Ozempic adds to the company’s existing offerings of GLP-1 therapies approved by the U.S. Food and Drug Administration (FDA), which include Novo  Nordisk’s Wegovy.

“Our expanded collaboration with Novo Nordisk further advances LifeMD’s mission to make high-quality, branded medications more affordable and accessible for millions of Americans,” said Justin Schreiber, Chairman and CEO of LifeMD.

Ozempic currently has the broadest range of FDA-approved indications for adults with type 2 diabetes. Novo Nordisk’s expanded partnership with LifeMD comes amid concerns of the Ozempic-maker’s growth prospects in the U.S. in the weight loss prescription segment, said analysts at Morgan Stanley in a note on Monday, according to TheFly.

The firm downgraded Novo Nordisk to ‘Underweight’ from ‘Equal Weight’ and lowered the price target to $47 from $59, implying a potential downside of nearly 13% from current levels. Morgan Stanley stated that Novo Nordisk lacks catalysts and that the stock carries downside risks over the next six months.

LFMD stock is up 30% year-to-date, while NVO stock is down 35%.

Also See: NuScale Power Stock Gets A Downgrade At BofA On Valuation Concerns

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