Eli Lilly lowers the cost of its weight-loss medication, Zepbound

Eli Lilly dropped the cost of Zepbound on Monday after the pharmaceutical giant and Ozempic producer Novo Nordisk reached an agreement with the Trump government to reduce prices for the popular weight-loss medications.

The monthly out-of-pocket pricing for the lowest single-dose vial of Zepbound is now $299 when purchased through Eli Lilly’s LillyDirect platform, a 14% decrease from $349, while the 5-milligram dose was decreased to $399, a cut of about 20% from $499, Eli Lilly reported. The 7.5- to 15-milligram doses were now only $449 instead of $499.

Novo Nordisk stated last month that the monthly out-of-pocket pricing of Ozempic and Wegovy would be dropped from $499 to $349, and that the two lowest doses of each drug would be available for $199 per month for the first two months.

Eli Lilly’s shares plummeted roughly 1% in premarket trade on the announcement.

Eli Lilly became the first pharmaceutical company to attain a market valuation of $1 trillion in November, following a spike in its stock price of more than 38% this year. The corporation is the second non-technology company to reach this milestone, following Warren Buffett’s Berkshire Hathaway.