Amazon (AMZN) Begins Selling Novo Nordisk’s Weight-Loss Pill

E-commerce giant Amazon (AMZN) has announced that it is now selling Novo Nordisk’s (NVO) new weight-loss pill through its digital pharmacy.

Novo Nordisk began rolling out an oral version of its injectable obesity drug Wegovy in the U.S. on Jan. 5, offering a starting dose for $149 a month. Patients with insurance coverage can get the pill for as low as $25 per month.

The daily pill is the newest product in the red-hot market for weight-loss and diabetes drugs, which is dominated by Denmark’s Novo Nordisk and U.S.-based Eli Lilly (LLY). The availability of the new Wegovy pill on Amazon highlights Novo Nordisk’s efforts to expand beyond traditional sales channels and reach new patients as it scrambles to gain market share.

Beating Eli Lilly To Market

Amazon said that in the coming weeks, it will also offer the Wegovy pill through its prescription vending kiosks, which are located in select One Medical clinics across the U.S. The Seattle-based e-commerce company launched its Amazon Pharmacy in 2020 as part of a push into the U.S. healthcare industry.

Amazon aims to attract users to its pharmacy by offering speedy delivery and price transparency. It currently offers same-day prescription delivery to nearly half of U.S. consumers. After its recent launch, Novo Nordisk’s weight-loss pill is now available at more than 70,000 U.S. pharmacies, as well as Costco Wholesale (COST).

Novo Nordisk beat Eli Lilly to market with its obesity pill. Eli Lilly has a rival weight-loss pill that is slated to win U.S. Food and Drug Administration (FDA) approval later this year.

Is AMZN Stock a Buy?

AMZN stock has a consensus Strong Buy rating among 47 Wall Street analysts. That rating is based on 46 Buy and one Hold recommendations assigned in the last three months. The average AMZN price target of $294.55 implies 19.09% upside from current levels.

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