Shares of Mangoceuticals (MGRX), the Texas-based telehealth company focused on men’s health, rose sharply in early trading on Thursday, climbing 24.43% to $2.19 per share. This came after the company disclosed that it had secured the partnership of American pharmaceutical heavyweight Eli Lilly (LLY) and its Danish rival Novo Nordisk (NVO) to sell their blockbuster weight-loss medications.
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To sell these medications, Mangoceuticals launched two programs, MangoRx Direct and PeachesRx Direct, to provide its customers with access to Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy. Customers will be able to purchase these weight-loss injections with cash at fixed prices starting as low as $499 per month — without requiring insurance — the telehealth company said.
Mangoceuticals plans to provide access to these flagship obesity drugs through Eli Lilly’s LillyDirect, launched last year, and Novo Nordisk’s NovoCare Pharmacy service, rolled out earlier this year.
U.S. Drugmakers Slash Costs Under Trump
The partnership comes days after both pharmaceutical competitors entered a deal with the Trump administration to cut the prices of their obesity medications under the U.S. government’s Medicare and Medicaid health insurance programs. The administration has also signed similar deals with pharma giant Pfizer (PFE) and its British counterpart AstraZeneca (AZN) to reduce the cost of their drugs.
Big Pharma Races for Obesity Market Share
According to estimates, obesity among adults in the U.S. costs individuals, employers, and the government as much as $210 billion per year. However, the obesity market is a booming section for pharma companies, as Pfizer recently knocked out Novo Nordisk to secure the deal to acquire biotech startup Metsera (MTSR) to improve its position in the market.
On its part, Novo Nordisk is preparing to launch the oral version of its popular weight loss product, even as it continues to shop around for other obesity market deals. The market is believed to be worth around $70 billion.
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