Published November 18, 2025
Summary: Novo Nordisk (NYSE: NVO) remains in the spotlight after rolling out a U.S. self‑pay price cut for Wegovy and Ozempic—plus a two‑month $199 introductory offer for new patients—while its controlling shareholder Novo Holdings exited its ConvaTec stake in London. U.S.-listed shares were modestly lower intraday as investors weighed near‑term pricing pressure against potential volume gains and ongoing governance/pipeline developments. [1]
Live price snapshot (U.S. ADS: NVO)
As of 16:12:38 UTC on Nov 18, 2025, NVO traded at $47.55, down 1.9% on the day (intraday range: $47.27–$48.03). Volumes were ~7.9 million shares.
Note: U.S. market moves today are occurring alongside broader, mixed equity action; traders continue to parse drug‑pricing headlines and governance shifts linked to last week’s extraordinary general meeting.
What’s new today (Nov 18)
1) Price cuts and a $199 intro offer remain the key U.S. story
Novo Nordisk is cutting the out‑of‑pocket price of obesity drug Wegovy to $349/month for self‑pay patients and is launching a $199/month introductory deal for the first two months for new patients at the lowest doses of Wegovy and Ozempic. Access is available through the company’s NovoCare Pharmacy and partners such as GoodRx, WeightWatchers, Costco, and others. Importantly, the offer window runs Nov 17, 2025–Mar 31, 2026; after the intro period, standard self‑pay pricing applies (e.g., Wegovy all doses at $349; Ozempic 0.25/0.5/1 mg at $349; 2 mg at $499). Media coverage continued today, keeping the cuts front‑and‑center for investors. [2]
Why it matters for NVO: The pricing reset could compress near‑term U.S. margins but support volume growth by converting cost‑sensitive patients to branded semaglutide and pulling demand from compounding pharmacies. It also aligns with political and payer dynamics ahead of broader coverage changes. [3]
2) Novo Holdings exits ConvaTec
Novo Holdings—the investment arm of the Novo Nordisk Foundation and controlling shareholder of Novo Nordisk—sold its entire 7.8% stake in ConvaTec in a discounted placement, exiting the position. While not a Novo Nordisk corporate action, the move is closely watched because of the governance and capital‑allocation links between the entities. [4]
Context moving the stock this week
- Medicare price negotiation outcome: Earlier this month, Novo Nordisk said it had agreed on a Medicare price for semaglutide (Ozempic/Wegovy) under the Inflation Reduction Act, with the company describing the impact as low‑single‑digit to sales had it applied in 2025. Investors viewed the result as better than feared, easing one overhang even as commercial pricing normalizes. [5]
- Board/leadership reshuffle fallout: Governance headlines remain relevant after last week’s extraordinary general meeting and associated board changes. In the run‑up, Pfizer’s former R&D chief Mikael Dolsten withdrew from the board race, and minority‑shareholder pushback over the Foundation‑backed slate drew scrutiny—though the revamped board ultimately gained approval. These developments keep attention on strategic direction and U.S. execution. [6]
- Pipeline signals (CagriSema): Beyond weight‑loss efficacy, late‑stage data for CagriSema (cagrilintide + semaglutide) showed notable reductions in systolic blood pressure and inflammatory markers versus semaglutide alone—an incremental cardiometabolic signal that could widen the drug’s value proposition if broader outcomes data confirm benefits. [7]
Investor take: what today’s news means for NVO
- Near‑term revenue mix shift: The $349 cash price and $199 intro promotion likely trade price for penetration, especially among uninsured/self‑pay patients and those tempted by compounders. Expect a volume‑driven strategy as Novo aims to expand the addressable base and reinforce brand loyalty with authentic, FDA‑approved semaglutide (mitigating safety concerns around non‑branded alternatives). [8]
- Policy tailwinds vs. pricing headwinds: The Medicare negotiation clarity reduces a key policy risk while the self‑pay cuts acknowledge U.S. affordability realities. Together, they sketch a path where unit volumes (and potential payer coverage expansion) could offset per‑script pricing pressure over time. Execution on manufacturing/supply and telehealth/pharmacy partnerships will be critical. [9]
- Governance and capital allocation watch: Novo Holdings’ ConvaTec exit underscores how Foundation‑level portfolio moves can ripple through sentiment on Novo Nordisk—less by direct P&L effect than by signaling where strategic and financial firepower is being directed. Keep an eye on follow‑on BD/licensing activity as the company and its owners re‑prioritize resources. [10]
- Pipeline breadth as a differentiator: With oral GLP‑1 programs advancing and CagriSema showing cardiometabolic signals, Novo’s story is no longer just about weight loss percentages; it’s increasingly about whole‑patient outcomes—a narrative with potential payer appeal if confirmed in outcomes trials. [11]
Key details and dates to know
- U.S. self‑pay pricing: Wegovy $349/month; Ozempic $349 (0.25/0.5/1 mg) and $499 (2 mg). Intro offer: $199/month for first two months at 0.25 mg and 0.5 mg doses for new patients; valid Nov 17, 2025–Mar 31, 2026; prescription required; available via NovoCare and partner networks. [12]
- Today’s trading: NVO $47.55 at 16:12:38 UTC, -1.9% intraday.
- Governance backdrop: EGM actions and candidate shifts (e.g., Dolsten’s withdrawal) continue to frame expectations for U.S. growth strategy under the revamped board. [13]
Bottom line
For Nov 18, 2025, Novo Nordisk’s stock narrative is anchored by U.S. pricing resets designed to broaden access and protect share, juxtaposed against the controlling shareholder’s portfolio move in London and a still‑busy governance/pipeline calendar. The market’s reaction—modestly lower NVO today—reflects a familiar trade‑off: near‑term price/margin pressure versus the long‑term volume and outcomes story that Novo Nordisk is trying to re‑assert. [14]
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.novocare.com, 13. www.reuters.com, 14. www.reuters.com
