How Much Did Americans Overspend On Weight Loss Medications in 2024? GoodRx Reveals

GoodRx Holdings (NASDAQ:GDRX), a prescription savings platform in the U.S., has released its latest Weight Loss Medications Tracker, revealing a sharp increase in the use of popular weight loss drugs like Eli Lilly And Co’s (NYSE:LLY) Mounjaro and Zepbound, and Novo Nordisk A/S’ (NYSE:NVO) Ozempic and Wegovy.

Despite limited insurance coverage and high out-of-pocket costs, demand for these medications is soaring.

Also Read: 99% Of Mounjaro/Zepbound Patients Remained Diabetes-Free Even At 3 Years, Eli Lilly’s Detailed Phase 3 Data Shows

According to GoodRx, fills for Wegovy and Zepbound have surged by 100% and 300%, respectively, since the beginning of 2024.

The research also shows that Americans overspent at least $200 million on these medications in 2024 by not using available savings options through GoodRx.

The tracker highlights that insurance still does not cover weight loss medications. Nearly 20% of people with commercial insurance lack coverage for GLP-1 and GIP medications when prescribed for weight loss.

Even for those with some insurance coverage, out-of-pocket costs remain high, with individuals using Zepbound paying more than $2,500 annually in copays.

The research also reveals notable regional disparities, with Alaska seeing the highest fill rate for weight loss medications, while states like Massachusetts, New Jersey, and Delaware report higher-than-average usage of drugs like Wegovy and Zepbound.

GoodRx’s research also emphasizes the growing popularity of weight loss medications despite financial barriers. Tori Marsh, Director of Research at GoodRx, noted the “extreme effectiveness” of GLP-1 and GIP medications in managing weight.

Marsh expressed the company’s commitment to bridging the gap between high medication costs and patient access by offering significant savings.

GoodRx patients can save an average of $250 per month, or $3,000 annually, on these medications, the company said in the report.

Meanwhile, in the U.K., the National Institute for Health and Care Excellence (NICE) has outlined a phased roll-out of tirzepatide (Mounjaro) for weight management, targeting around 250,000 individuals with a body mass index of 35 or higher and at least one weight-related illness.

The program aims to address obesity’s significant health burden, with the cost to the NHS estimated at $404.17 million (317.2 million pounds) annually by the third year of implementation.

NICE initially decided to prioritize individuals with the highest clinical needs before expanding access to other patients in the coming years.

NICE’s final guidance on the roll-out is expected in December, with the first NHS patients to begin receiving tirzepatide in early 2025.

Price Action: LLY stock is down 0.65% at $824.47 at the last check on Thursday.

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Photo via Eli Lilly and Company