Eli Lilly (LLY) to Offer Higher Doses of Its Weight-Loss Drug on Website

Pharmaceutical giant Eli Lilly (LLY) says it will offer higher-dose versions of its popular weight-loss drug Zepbound on its LillyDirect website, with shipments starting in August.

The company said the 12.5 milligrams and 15 mg doses of the popular weight-loss drug will be available for $499 per month on its website with shipments to self-paying patients. Healthcare providers can begin prescribing the 12.5 mg and 15 mg high-dose vials on July 7 of this year, the company said in a news release.

Lilly began offering vials of the two lowest doses of Zepbound, typically sold in auto-injector pens, through the LillyDirect website in August of last year. In February, the company started offering the vials at a discount as it seeks to attract consumers and take market share from rival Novo Nordisk (NVO).

Pricing Issues

The pricing of Zepbound continues to be an issue for Eli Lilly. The company had been charging $1,059 for a month’s supply of Zepbound, regardless of the dosage. That cost had drawn criticism from customers and politicians, who accused Eli Lilly of price gauging.

However, Zepbound can cost as low as $25 for a one month supply, depending on the type of healthcare insurance a person has and other discounts that can be applied by retail pharmacies and through the LillyDirect website. Some insurance plans still don’t cover the cost of weight-loss drugs, saying they are not medically necessary and there are other ways to lose weight.

Is LLY Stock a Buy?

The stock of Eli Lilly has a consensus Strong Buy recommendation among 20 Wall Street analysts. That rating is based on 17 Buy, two Hold, and one Sell recommendations issued in the last 12 months. The average LLY price target of $997.60 implies 27.08% upside from current levels.

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