In an effort to increase access and drive sales, U.S. pharmaceutical company Eli Lilly (LLY) has released a new version of its popular weight loss drug Zepbound at half its list price.
Eli Lilly said in a written statement that the cheaper version of Zepbound is aimed at reaching millions of people in America who don’t have medical insurance, including those on Medicare.
The move also comes as demand for Zepbound skyrockets and as Eli Lilly tries to counter cheaper copycat versions of the drug, mostly from China, that are flooding the internet illegally.
Going forward, Eli Lilly will offer 2.5-milligram and 5-milligram single-doses of Zepbound for $399 U.S. and $549 U.S. per month through its direct-to-consumer website.
The list price of Zepbound is currently $1,000 U.S. per month before insurance and other rebates are applied to help reduce the cost.
The lower prices are expected to benefit patients who pay out of pocket for Zepbound, are enrolled in Medicare, or participate in employer-sponsored healthcare plans that do not cover obesity treatments.
Consumers can access the cheaper versions of the Zepbound weight loss drug from Eli Lilly’s direct-to-consumer website called “LillyDirect.”
Demand for Zepbound and Eli Lilly’s diabetes drug, Mounjaro, each of which are under patent protection in the U.S., is skyrocketing, fueling the company’s sales and profit growth.
The stock of Eli Lilly has risen 72% in the last 12 months and currently trades at $950.53 U.S. per share.
