One of America’s top retailers, Costco, just made its mark in the weight loss drug market through Ozempic and Wegovy. Although the retailer already has a strong presence in the retail industry, it is expanding the company’s pharmacy department too. Consumers do not have to look and go far anymore. Instead, while they are busy with their grocery shopping, they can now purchase what they need from the retailer’s pharmacy.
Details about this addition
This fan favourite warehouse club, which is best known for its bulk bargains and $1.50 hot dogs, is expanding its pharmacy into the fast-growing weight-loss drug market. This may come as a surprise to many, but the retailer is always ready to make the lives of its consumers more convenient. And what a convenient way this is to purchase what you need while doing your grocery shopping.
Therefore, the company is now selling Ozempic and Wegovy, which are two of the most in-demand prescription medications in the United States. The retail giant will have both these drugs available at its pharmacies nationwide. This new program will be available at more than 600 Costco pharmacies across the United States
It is important for the public to note that members will still need a prescription to purchase these two medications. A benefit that executive members and Costco Citibank Visa cardholders can earn is a 2% cash back on their purchases through the retailer’s rewards program.
Costco’s presence in Health Care
Novo Nordisk, which is the Danish pharmaceutical company behind both medications, made an announcement that Costco will now offer a one-month supply of Ozempic or Wegovy for $499. This price is similar to that of what Novo Nordisk lists on its direct-to-consumer website and what is available for purchase through other retailers such as CVS and Walmart.
According to GoodRx, that is a massive markdown compared to what the general retail prices of these products. It has been found that the regular price is around $1,300 for Ozempic and $1,600 for Wegovy. Both drugs are part of a class which is known as GLP-1 agonists. This is generally used for injectable medications that can help regulate blood sugar and suppress appetite. Ozempic is approved to treat Type 2 diabetes, while Wegovy is FDA-approved for chronic weight management.
In addition, this move highlights the retailer’s growing presence in the health sector. As weight-loss medications continue to reshape consumers’ health spending, the Costco’s and Novo Nordisk partnership, positions the retailer to play a larger role in how Americans access, and afford, these drugs.
The price of these items
David Moore, who is the executive vice president for Novo Nordisk’s United States operations, stated that the partnership is intended to make access easier. He further added that “Our collaboration with Costco is another step forward by Novo Nordisk in making real Wegovy and Ozempic easier to access and afford – right where people already shop,” Moore said in a statement. “By partnering with one of the country’s most trusted retailers, we are meeting people where they are and connecting them to real, FDA-approved medicines in our premium pen devices with our $499 self-pay offer. Everyone deserves care that’s simple, reliable, and within reach – and we’re proud to lead the way in helping make that a reality.”
In addition, it is not just Costco offering the $499 mark. Novo Nordisk stated that it lowered its price in August, the price specifically for Ozempic. This change has been implemented for self-paying patients to only pay $499 per month. One prefilled 2 mg pen of the Ozempic or four prefilled 0.25 mg pens of Wegovy are also currently available for $499 through the coupon. This is similar to the Costco price, since it is effectively giving patients this option through an online discount channel.
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