Your Costco card might soon be less valuable than you think.
The retail giant has teamed up with Danish pharmaceutical firm Novo Nordisk to provide popular weight loss medications like Ozempic and Wegovy at reduced prices for uninsured members.
“Access to straightforward, dependable, and affordable healthcare is essential for everyone, and we are excited to help make that happen,” mentioned Dave Moore, who leads U.S. operations at Novo Nordisk.
Beginning on October 3rd, eligible Costco members can obtain a month’s supply of injectable GLP-1 for $499 at over 600 Costco pharmacies across the country.
For executive members and those using Costco City Bank credit cards, there’s an additional 2% discount on the medications, making them a bit more affordable.
This is significant because many insurance plans tend to overlook these costly medications. Without coverage, Ozempic may cost around $1,000 and Wegovy about $1,350, according to GoodRx.
To get the medication, members need a valid prescription and must sign up for Costco’s member prescription program. Pricing varies for customers with insurance based on their specific plans.
Both Ozempic and Wegovy contain Semaglutide, a potent ingredient that mimics hormones in the body to suppress appetite and manage blood sugar levels.
While Ozempic is FDA-approved for treating type 2 diabetes, Wegovy is specifically intended for weight management in those aged over 12 who are considered obese.
The two drugs can help in weight loss, but some research indicates Wegovy might be more effective, primarily due to higher dosage.
Initial studies also hint that semaglutide could help in reducing substance abuse issues and may have additional benefits for Alzheimer’s prevention.
However, it’s not all positive. Many patients experience side effects, with gastrointestinal issues like nausea and diarrhea being the most frequently reported.
Despite these challenges, the demand for GLP-1 medications has surged in recent years, occasionally leading to shortages.
This scarcity, combined with high prices, has driven some people to look for knock-off versions from unregulated pharmacies.
Novo Nordisk and the FDA have cautioned that these non-branded drugs lack proper evaluation for safety or effectiveness.
“Our goal is to ensure patients have access to authentic Wegovy and Ozempic,” Moore stated. “Costco is a brand people trust.”
Novo Nordisk currently sells both medications at $499 and offers similar pricing through CVS and Walmart.
Yet, experts caution that even these lower costs might still be prohibitive for many Americans.
“The individuals who would benefit the most are often underinsured or lack coverage entirely and might not have the financial means to afford them,” explained Dr. Harlan Krumholz, a cardiologist at Yale School of Medicine.
“To significantly improve the nation’s health, we need to ensure that more people can access these valuable medications,” he added.
The initiative to make GLP-1 treatments more affordable comes as the U.S. grapples with a growing obesity crisis.
About two in five Americans fall under the obesity category, with alarming rates among children and teenagers too.
Excess weight not only lowers quality of life but also raises the likelihood of chronic diseases, such as type 2 diabetes, high blood pressure, and heart disease, among others.
