Competition surrounding GLP-1 drugs is extending from the pharmaceutical sector to the medication delivery process. Amazon (AMZN) recently started selling Novo Nordisk’s (NVO) oral GLP-1 weight-loss drug Wegovy tablets through its pharmacy. This move could impact companies also involved in related businesses or services, such as Hims & Hers (HIMS), WW International (WW), and GoodRx Holdings (GDRX).
In the GLP-1 drug field, pharmaceutical giants Eli Lilly (LLY) and Novo Nordisk have long been engaged in fierce competition. Previously, GLP-1 weight-loss drugs were only available in injectable forms until 2026 when Novo Nordisk pioneered the oral tablet Wegovy. Although Eli Lilly is also developing oral GLP-1 drugs, Novo Nordisk, with its first-mover advantage, is expected to regain some market share. The emergence of oral formulations may further broaden consumer acceptance of GLP-1 drugs, thereby driving overall demand growth.
Amazon’s entry into this market is driven by the commercial opportunities it presents. The Wegovy tablets offered by its pharmacy can cost as low as $25 per month for those with insurance and as low as $149 for those without. It is anticipated that Hims & Hers, WW International, and GoodRx will price their offerings similarly to remain competitive. Among them, WW stands out with its comprehensive weight-loss support programs. However, Amazon holds significant advantages in the retail segment due to its vast Prime membership base, built-in advertising platform, and convenient shopping experience.
Overall, rising demand for GLP-1 drugs may generally benefit related sales companies. However, Amazon, with its massive customer scale and e-commerce channel capabilities, is poised to capture a substantial share of the retail market. If oral GLP-1 weight-loss drugs become more widespread, companies such as Hims & Hers, WW International, and GoodRx may face intensified competitive pressure.
It is worth noting that Hims & Hers recently began offering a generic version of the Wegovy tablet at $49 per month, significantly lower than the branded drug price. CEO Andrew Dudum stated that this initiative aims to provide consumers with more treatment options through the platform and offer customized services based on patient preferences.
