Novo Nordisk’s Wegovy Weight Loss Drug Sees Meteoric Rise in Popularity

Novo Nordisk on Wednesday said it will offer its weight loss drug Wegovy for less than half of its usual price per month through a new direct-to-consumer online pharmacy.

Direct-to-Consumer Online Pharmacy

The cash-pay offering is available to millions of patients without insurance coverage for the blockbuster injection. It aims to make Wegovy available to more people, while also ensuring that patients use the branded medication instead of cheaper compounded copycats that exploded in popularity during a recently resolved U.S. shortage of Novo Nordisk’s drug.

The pharmacy, called NovoCare, will allow patients to pay $499 in cash per month for the weekly drug. Wegovy’s list price before insurance and other rebates is almost $1,350 per month.

Patient Support Services

The site can also ship Wegovy prescriptions directly to patients’ homes through a specialty pharmacy partner. NovoCare will also offer refill reminders and access to live support from a case manager at the company, among other patient support services.

Industry Move

The company’s move follows a similar strategy from its main rival, Eli Lilly. The two companies are fighting to dominate the market for so-called GLP-1s, which mimic certain gut hormones to suppress appetite and regulate blood sugar.

Eli Lilly’s Direct-to-Consumer Online Pharmacy

Eli Lilly in January 2024 launched its own direct-to-consumer online pharmacy, LillyDirect, to help patients access its weight loss drug Zepbound. The website allows eligible patients to get a prescription through a telehealth provider and can provide home delivery. More recently, LillyDirect also started offering Zepbound in single-dose vials that are half or even less than its usual $1,000 monthly list price.

FDA Shortages

In recent months, the Food and Drug Administration has declared the U.S. shortages of both Zepbound and Wegovy over. That decision will prevent certain compounding pharmacies from creating unapproved versions of the injections.

Conclusion

Novo Nordisk’s new direct-to-consumer online pharmacy, NovoCare, aims to make Wegovy more accessible to patients, while also ensuring that they use the branded medication instead of cheaper compounded copycats. This move is part of the company’s efforts to dominate the market for GLP-1s, which mimic certain gut hormones to suppress appetite and regulate blood sugar.

FAQs

Q: What is Wegovy?
A: Wegovy is a weight loss drug developed by Novo Nordisk that works by mimicking certain gut hormones to suppress appetite and regulate blood sugar.

Q: What is the usual price of Wegovy?
A: The usual price of Wegovy before insurance and other rebates is almost $1,350 per month.

Q: How much will patients have to pay for Wegovy through NovoCare?
A: Patients will have to pay $499 in cash per month for Wegovy through NovoCare.

Q: What services will NovoCare offer to patients?
A: NovoCare will offer refill reminders and access to live support from a case manager at the company, among other patient support services.

Tariff Exemption for Automakers: Trump Administration Announces One-Month Reprieve

In an unexpected move, the White House has announced a one-month tariff exemption for automakers, effective immediately. The decision comes after President Donald Trump spoke with the heads of General Motors, Ford, and Stellantis on Tuesday, and following a request from the American Automotive Policy Council (AAPC) to waive 25% tariffs on Mexico and Canada on vehicles that comply with the United States-Mexico-Canada Agreement’s (USMCA) trade rules of origin.

Background

The tariffs, which were put in place on Tuesday, have sparked concerns among automakers and industry experts, who fear that prolonged tariffs could lead to decreased production and increased costs for consumers. The AAPC, representing the "Big 3" Detroit automakers, has been pressing the White House to exempt vehicles and parts that meet USMCA requirements from the tariffs.

White House Decision

According to Press Secretary Karoline Leavitt, the president has granted a one-month exemption to automakers whose vehicles comply with USMCA rules of origin. The decision aims to avoid putting these companies at an economic disadvantage. Leavitt also confirmed that the president is open to hearing requests from other industries seeking exemptions.

Automaker Reactions

The decision has been met with positive reactions from the automotive industry. The AAPC has applauded the move, recognizing that vehicles and parts that meet the USMCA requirements should be exempt from tariffs. Shares of General Motors, Ford, and Stellantis have also seen significant increases, with Stellantis closing up 9.2%, followed by GM up 7.2%, and Ford higher by 5.8%.

Uncertainties Remain

While the exemption provides some relief to automakers, several uncertainties remain. It is unclear whether the exemption applies only to vehicles or also includes automotive parts. Additionally, it is unclear how much input Tesla CEO Elon Musk had on the tariffs or the delay. Musk has been a close advisor to Trump and has often been present at key events.

Conclusion

The one-month tariff exemption for automakers is a significant development in the ongoing trade tensions between the United States, Mexico, and Canada. The decision aims to avoid putting American automakers at an economic disadvantage while also providing a temporary reprieve from the 25% tariffs. As the situation continues to unfold, it remains to be seen whether the exemption will be extended or if other industries will be granted similar relief.

Frequently Asked Questions

Q: What is the one-month tariff exemption for automakers?
A: The exemption allows automakers whose vehicles comply with USMCA rules of origin to be exempt from 25% tariffs on Mexico and Canada for a period of one month.

Q: Who requested the exemption?
A: The American Automotive Policy Council, representing the "Big 3" Detroit automakers, requested the exemption.

Q: How did automakers react to the decision?
A: Shares of General Motors, Ford, and Stellantis saw significant increases following the announcement, with Stellantis closing up 9.2%, followed by GM up 7.2%, and Ford higher by 5.8%.

Q: What are the uncertainties surrounding the exemption?
A: The exemption’s scope is unclear, with questions remaining about whether it applies only to vehicles or also includes automotive parts. Additionally, it is unclear how much input Tesla CEO Elon Musk had on the tariffs or the delay.

The gig economy has revolutionized the way we work, providing flexibility and opportunities for entrepreneurship. However, it has also raised concerns about worker protections, benefits, and job security. As the gig economy continues to grow, it is essential to re-examine labor laws to ensure they keep pace with the changing nature of work.

Challenges of the Gig Economy

The gig economy has created a new class of workers who are increasingly self-employed, but without the traditional benefits and protections afforded to full-time employees. These workers, often referred to as “gig workers,” face numerous challenges, including:

### Lack of Job Security

Gig workers are often at the mercy of algorithms and can be terminated at any moment without notice or severance. This lack of job security can be stressful and unsettling, making it difficult to plan for the future.

### Inconsistent Schedules

Gig workers often have irregular schedules, which can make it challenging to balance work and personal life. This can lead to burnout, stress, and decreased productivity.

### No Benefits or Protections

Gig workers are not entitled to benefits such as health insurance, paid time off, or workers’ compensation, leaving them vulnerable and exposed.

### Exploitation

Gig workers are often paid on a per-task or per-hour basis, which can lead to exploitation, as they may be required to work long hours without overtime pay or benefits.

Labor Law Reforms

To address the challenges faced by gig workers, labor law reforms are necessary to ensure that these workers are protected and have access to the same benefits and protections as traditional employees. Some potential reforms include:

### Misclassification Reforms

Reforms could require companies to reclassify gig workers as employees, providing them with the same benefits and protections as traditional employees.

### Benefit Mandates

Reforms could mandate that companies provide gig workers with access to benefits such as health insurance, paid time off, and retirement plans.

### Overtime Pay

Reforms could require companies to pay gig workers overtime pay for hours worked beyond a certain threshold.

### Unionization

Reforms could allow gig workers to unionize, giving them a collective voice and bargaining power to negotiate better wages, benefits, and working conditions.

Examples of Successful Labor Law Reforms

Several countries have implemented labor law reforms to protect gig workers and ensure they receive fair treatment. For example:

### California’s AB-5

In 2019, California passed AB-5, a landmark bill that reclassified gig workers as employees, providing them with access to benefits and protections. This law has set a precedent for other states and countries to follow.

### The EU’s Platform Workers’ Directive

In 2021, the European Union passed the Platform Workers’ Directive, which requires companies to provide platform workers with better protections, including the right to minimum wage, social security, and collective bargaining.

### Australia’s Fair Work Act

In 2016, Australia passed the Fair Work Act, which requires companies to provide workers with a minimum wage, paid annual leave, and superannuation. This law has helped to improve the lives of millions of workers in the country.

Conclusion

The gig economy has created new opportunities for entrepreneurship and flexibility, but it has also raised concerns about worker protections and benefits. Labor law reforms are necessary to ensure that gig workers are treated fairly and have access to the same benefits and protections as traditional employees. By implementing reforms such as misclassification, benefit mandates, overtime pay, and unionization, we can create a more equitable and just workplace for all workers.

FAQs

Q: What is the gig economy?
A: The gig economy refers to the growing trend of short-term, flexible, and often freelance work arrangements.

Q: Who are gig workers?
A: Gig workers are individuals who work on a short-term, flexible, or freelance basis, often through digital platforms.

Q: What are some of the challenges faced by gig workers?
A: Gig workers often face challenges such as lack of job security, inconsistent schedules, no benefits or protections, and exploitation.

Q: What are some potential labor law reforms that could help address the challenges faced by gig workers?
A: Potential reforms include misclassification, benefit mandates, overtime pay, and unionization.

Q: What are some examples of successful labor law reforms that have protected gig workers?
A: Examples include California’s AB-5, the EU’s Platform Workers’ Directive, and Australia’s Fair Work Act.