How much have Americans overspent on weight loss drugs in 2024? GoodRx Reveals – Novo Nordisk (NYSE:NVO), Eli Lilly (NYSE:LLY)

GoodRx Holdings DDRXa prescription savings platform in the US, has released its latest Weight Loss Medications Tracker, showing a sharp increase in the consumption of popular weight loss medications such as: Eli Lilly and Co LLY Mounjaro and Zepbound, and Novo Nordisk A/S’ NVO Ozempic and Wegovy.

Despite limited insurance coverage and high out-of-pocket costs, demand for these medications is increasing rapidly.

Also Read: 99% of Mounjaro/Zepbound Patients Remained Free of Diabetes After 3 Years, Eli Lilly’s Detailed Phase 3 Data Shows

According to GoodRx, fills for Wegovy and Zepbound have increased by 100% and 300%, respectively, since the beginning of 2024.

The research also shows that Americans overspent at least $200 million on these drugs in 2024 because they did not take advantage of GoodRx’s available savings options.

The tracker notes that insurance still doesn’t cover weight loss medications. Nearly 20% of commercially insured individuals do not have insurance coverage for GLP-1 and GIP medications when prescribed for weight loss.

Even for those with some insurance coverage, out-of-pocket costs remain high, with people using Zepbound paying more than $2,500 annually in out-of-pocket costs.

The research also uncovers notable regional differences, with Alaska seeing the highest demand for weight-loss drugs, while states like Massachusetts, New Jersey and Delaware report higher-than-average use of drugs like Wegovy and Zepbound.

GoodRx’s research also underscores the growing popularity of weight loss medications despite financial hurdles. Tori Marsh, director of research at GoodRx, noted the “extreme effectiveness” of GLP-1 and GIP drugs in weight control.

Marsh expressed the company’s commitment to bridging the gap between high drug costs and patient access by offering significant savings.

GoodRx patients can save an average of $250 per month or $3,000 per year on these medications, the company said in the report.

Meanwhile, in the UK, the National Institute for Health and Care Excellence (NICE) has planned a phased introduction of tirzepatide (Mounjaro) for weight management, targeting around 250,000 people with a body mass index of 35 or higher and at least one weight-related condition Disease.

The program aims to address the significant health burden of obesity. The cost to the NHS is estimated at $404.17 million (£317.2 million) per year by the third year of implementation.

NICE initially decided to prioritize those with the highest clinical need before expanding access to other patients in the coming years.

Final guidance from NICE on the rollout is expected in December, with the first NHS patients starting treatment with tirzepatide in early 2025.

Price promotion: LLY stock was down 0.65% at $824.47 at last check on Thursday.

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Photo via Eli Lilly and Company