Ozempic Price History: U.S. Injection List Price by Year, 2017–2027

By Weight Loss Provider Guide Editorial Team
Last verified: August 3, 2026 · Dataset version 1.1

Ozempic's reported U.S. injection list price rose from $729.40 in August 2018 to a current WAC of $1,027.51 in 2026—an increase of $298.11, or 40.9%. Novo Nordisk has announced a reversal to $675 effective January 1, 2027, but that lower price is not yet in effect.

There is a second price history moving in the opposite direction. HHS's estimated non-Medicaid manufacturer net-price series fell from $531.08 in 2018 to $290.08 in 2024, a decline of 45.4%, while the matched list-price series rose 32.8%. Those are not two versions of the same number. One is a published list-price benchmark; the other is an estimate of manufacturer revenue after discounts and concessions in non-Medicaid markets.

One more thing worth sitting with. When FDA approved Ozempic injection in December 2017, Novo Nordisk said it planned to charge $676. The announced 2027 injection WAC is $675. The future sticker price is scheduled to land one dollar below the planned price reported at approval—before inflation, and with both endpoints correctly labeled as announcements rather than transactions.

Table 1. Ozempic price history at a glance
MeasureVerified amount
2017 planned price reported at approval$676.00
First historical pen price recovered, August 2018$729.40
Current injection WAC, manufacturer page dated May 2026$1,027.51
Announced injection WAC effective January 1, 2027$675.00
HHS estimated non-Medicaid manufacturer net price, 2024$290.08
2018–2026 injection list-price change+$298.11 (+40.9%)
2018–2024 estimated net-price change−$241.00 (−45.4%)

Source: Weight Loss Provider Guide Research compilation of FDA, HHS ASPE, Oregon Prescription Drug Affordability Board, Massachusetts Health Policy Commission, Novo Nordisk, Reuters, and contemporaneous Fierce Pharma records. Calculations by Weight Loss Provider Guide Research. Last verified August 3, 2026.

Line chart of Ozempic U.S. injection list-price history from the reported 2017 planned price through the announced 2027 WAC.

Chart source: Weight Loss Provider Guide Research compilation of the records listed in Table 2. The 2017 and 2027 points are announcements; the 2018–2026 points are historical or current observations. Last verified August 3, 2026.

Download the data: CSV · JSON


What are the key Ozempic price history statistics?

The cleanest historical comparison is $729.40 in August 2018 versus $1,027.51 in 2026: a nominal increase of $298.11, or 40.9%. Over the matched 2018–2024 HHS series, list price rose 32.8% while estimated non-Medicaid manufacturer net price fell 45.4%.

The numbers most likely to be quoted are these:

  • 40.9%: increase from the August 2018 injection benchmark to the current 2026 WAC.
  • 4.4%: compound change per year-labeled interval across the eight intervals from 2018 through 2026. This is not a date-exact CAGR because the effective dates of the 2025 and 2026 increases were not established.
  • 32.8%: increase in the matched list-price series from 2018 through 2024.
  • 45.4%: decrease in HHS's estimated non-Medicaid manufacturer net-price series over the same years.
  • 70.0%: the 2024 calculated gap between list price and estimated net price as a share of list price. This is a list-to-estimated-net gap, not a pure rebate rate.
  • 34.3%: announced reduction from the current $1,027.51 WAC to $675 on January 1, 2027.
  • $274: CMS's rounded 30-day Maximum Fair Price for the selected-drug grouping containing Ozempic, Rybelsus, and Wegovy beginning in 2027.
  • $276.78: CMS's package-specific 2027 MFP example for one Ozempic 4 mg/3 mL pen.

Those figures answer different questions. The rest of the page keeps their definitions attached so none of them turns into a misleading standalone “Ozempic price.”


What is Ozempic's price history from 2017 to 2027?

Across the year-labeled observations from 2018 through 2026, every change in Ozempic injection's published U.S. list-price benchmark was upward, from $729.40 to $1,027.51. Novo Nordisk has announced a $675 WAC effective January 1, 2027, which remains a future price as of this page's verification date.

This is the core series. It tracks Ozempic injection and normalizes the record around a one-pen, approximately 30-day package. It does not mix in retail cash quotes, discount cards, manufacturer self-pay, estimated net price, pharmacy acquisition cost, Medicare's negotiated price, or patient copays.

Table 2. Ozempic U.S. injection list price by year, 2017–2027
DatePriceChange from prior rowEvidence statusSource
Dec. 5, 2017$676.00Planned price reported at approvalFDA approval letter; Reuters
Aug. 13, 2018$729.40+$53.40 (+7.9%)*Historical pen price reported during rolloutFierce Pharma; HHS ASPE
2019$772.43+$43.03 (+5.9%)Historical WAC/list-price observationOregon PDAB document package
2020$811.05+$38.62 (+5.0%)Historical WAC/list-price observationOregon PDAB document package
2021$851.60+$40.55 (+5.0%)Historical WAC/list-price observationOregon PDAB document package
2022$892.06+$40.46 (+4.8%)Historical WAC/list-price observationOregon PDAB document package
Dec. 31, 2023$935.77+$43.71 (+4.9%)Historical WACOregon PDAB document package
Jan. 1, 2024$968.52+$32.75 (+3.5%)Historical WACOregon PDAB document package
2025, attested Nov. 6$997.58+$29.06 (+3.0%)Manufacturer-attested WAC; exact increase date not establishedNovo Nordisk testimony to Massachusetts HPC
2026, page dated May$1,027.51+$29.93 (+3.0%)Current manufacturer-published WAC; exact increase date not establishedNovo Nordisk price-transparency page
Jan. 1, 2027$675.00−$352.51 (−34.3%)Announced future WAC; not yet effectiveNovo Nordisk announcement

*The 2018 arithmetic compares a historical pen price with a planned price reported before commercial launch. It is not a clean annual WAC increase.

Source: Weight Loss Provider Guide Research compilation of the linked records. Oregon's current affordability review rounds the 2018–2024 values to whole dollars; the exact values above come from the cited exact-value records. Calculations by Weight Loss Provider Guide Research. Last verified August 3, 2026.

The 2017 and 2027 rows are not the same kind of fact as the rows between them. The first was a reported plan before launch. The last is a future announcement. They remain in the table because they are central to the public price story, but the status column prevents them from masquerading as observed transactions.

The 2025 and 2026 amounts are verified too. What is not verified is the exact day each increase became effective. The page dates those observations to the records that establish the amounts instead of inventing a January effective date that the source does not provide.


What does this data show — and what doesn't it show?

The core series shows published U.S. list-price and WAC benchmarks for Ozempic injection. It does not show what every patient, insurer, employer, pharmacy, Medicaid program, or Medicare plan paid.

Novo Nordisk defines WAC as the price from a manufacturer to a wholesaler or direct purchaser before discounts or rebates. Its current page also says most people with health insurance do not pay WAC. Oregon's affordability review makes the same structural point: WAC does not account for discounts, rebates, or other changes through the supply chain.

That does not make WAC meaningless. It makes the label non-negotiable. A $1,027.51 WAC, a $349 manufacturer self-pay amount, a $290.08 estimated manufacturer net price, a $276.78 Medicare MFP package example, and one patient's $25 copay can all be accurate at once because they describe different transactions.

This page will not tell a reader what one prescription will cost at one pharmacy under one benefit plan. It will tell the reader which price type a quoted number belongs to, when it was measured, and whether it was observed, estimated, current, or merely announced.


How we built this Ozempic price history

We assembled the record from FDA approvals, federal and state price analyses, manufacturer testimony, the manufacturer's current price page, and contemporaneous reporting used for the two early price observations. Every consequential row carries a price type, package basis, evidence status, source, and verification date; no missing year was estimated.

Here is exactly what we did.

We separated the product first. The core time series covers Ozempic injection. FDA approved a product-name change creating Ozempic tablets in January 2026, but adding that newer oral product to the old injection series would create a package and dosage-form break. The tablet history is addressed separately.

We started with the government record. Oregon's Prescription Drug Affordability Board published a 2018–2024 WAC history constructed from Medi-Span data and normalized to a 30-day supply. Its current table rounds the values to whole dollars. An earlier Oregon document package and the HHS ASPE table preserve exact amounts for the core series.

We used contemporaneous reporting only where it adds a specific early observation. FDA establishes the December 5, 2017 approval date and NDA 209637. Reuters reported Novo Nordisk's planned $676 price at approval. Fierce Pharma reported a $729.40 pen price on August 13, 2018. HHS later included both early figures in its historical table.

We extended the series beyond the state review. Novo Nordisk attested to a $997.58 WAC in testimony filed for the Massachusetts Health Policy Commission's 2025 Cost Trends Hearing. Its current price page lists $1,027.51 for each displayed injection package and is dated May 2026. Its February 24, 2026 announcement supplies the future $675 WAC and January 1, 2027 effective date.

We did not force incompatible prices into one line. Estimated manufacturer net price, Oregon carrier concessions, manufacturer self-pay, Oregon pharmacy acquisition cost, and Medicare MFP each get their own table. That is not extra complexity. It is what keeps the history true.

We calculated, but did not manufacture, the derived statistics. Annual change is (current price ÷ prior price − 1) × 100. The 2018–2026 nominal increase is (1,027.51 ÷ 729.40 − 1) × 100 = 40.9%. The 2027 announced cut is (675 ÷ 1,027.51 − 1) × 100 = −34.3%. The list-to-estimated-net gap is list price − estimated net price; its share is gap ÷ list price.

Version 1.1 change record: separated injection WAC from estimated manufacturer net price more precisely; changed “rebate share” to “list-to-estimated-net gap”; added the contemporaneous source for the exact August 2018 pen price; removed an unsupported $245 Ozempic benchmark; corrected the Oregon acquisition-cost time windows; and replaced an unresolved tablet-page note with FDA's January 2026 approval record.

Source hierarchy

  1. The issuing federal or state agency.
  2. An official affordability review that identifies its pricing-data source.
  3. Manufacturer price pages, filings, testimony, and announcements.
  4. Contemporaneous reporting quoting the manufacturer when the early price could not be recovered from an original price filing.

How much did Ozempic cost when it launched?

Novo Nordisk said it planned to charge $676 when FDA approved Ozempic injection on December 5, 2017. The first historical pen price recovered in this review is $729.40 from August 13, 2018.

FDA's approval letter identifies Ozempic injection, NDA 209637, and the approval date. It does not state a price. The $676 amount comes from contemporaneous Reuters reporting quoting the company, and HHS later used $676 as its 2017 historical entry.

The $729.40 amount is not an estimate reverse-engineered from a later percentage. Fierce Pharma reported the per-pen price during the U.S. rollout in August 2018, and HHS later carried the exact amount. Oregon's newer official table rounds it to $729.

The distinction matters when someone writes that Ozempic is “returning to its launch price.” The announced $675 future WAC is one dollar below the $676 plan reported at approval, but it is $54.40 below the first historical pen price recovered here. Both comparisons are legitimate when the baseline is named. Neither is legitimate when the baseline disappears.

Sources: FDA approval letter; Reuters report; Fierce Pharma report; HHS ASPE historical table.


How did Ozempic's list price change each year?

The year-to-year increases were 5.9%, 5.0%, 5.0%, 4.8%, 4.9%, 3.5%, 3.0%, and 3.0% across the 2018–2026 sequence. The cumulative increase from the August 2018 benchmark reached 40.9% before the announced 2027 cut.

Table 3. Annual and cumulative change in Ozempic injection's list price
Year or datePriceChange from prior observationCumulative vs. Aug. 2018
Aug. 2018$729.40baseline
2019$772.43+5.9%+5.9%
2020$811.05+5.0%+11.2%
2021$851.60+5.0%+16.8%
2022$892.06+4.8%+22.3%
Dec. 31, 2023$935.77+4.9%+28.3%
Jan. 1, 2024$968.52+3.5%+32.8%
2025 observation$997.58+3.0%+36.8%
2026 observation$1,027.51+3.0%+40.9%
Jan. 1, 2027, announced$675.00−34.3%−7.5%

Source: Weight Loss Provider Guide Research calculations from Table 2. Last verified August 3, 2026.

The shape is worth noticing without inventing a reason for it. The series has five changes near 5%, followed by 3.5%, then two 3.0% steps between verified amounts. Federal price negotiation, manufacturer self-pay expansion, and the future WAC announcement all occurred later in the chronology, but this dataset does not claim that any one event caused a specific annual increase.

Oregon's official 2018–2024 review reaches a similar descriptive result from its rounded 30-day series: an average annual increase of 4.8% and a cumulative increase of 32.8%.


How did Ozempic's estimated net price change from 2018 to 2024?

HHS's estimated non-Medicaid manufacturer net-price series fell from $531.08 in 2018 to $290.08 in 2024, a 45.4% decline. Across the same six year-to-year comparisons, the matched list-price series rose 32.8%.

HHS ASPE published list and estimated net prices side by side. The estimated net figures come from SSR Health and use a four-quarter rolling average for non-Medicaid markets. HHS did not call the difference a rebate rate, and neither do we.

Table 4. Ozempic list price vs. estimated non-Medicaid manufacturer net price, 2018–2024
YearList priceEstimated net priceCalculated list-to-net gapGap as % of list
2018$729.40$531.08$198.3227.2%
2019$772.43$498.83$273.6035.4%
2020$811.05$460.75$350.3043.2%
2021$851.60$430.92$420.6849.4%
2022$892.06$369.75$522.3158.6%
2023$935.77$319.67$616.1065.8%
2024$968.52$290.08$678.4470.0%

Source: List and estimated net prices from HHS ASPE Issue Brief HP-2024-25, using AnalySource list-price data and SSR Health estimated non-Medicaid net prices. Gap columns calculated by Weight Loss Provider Guide Research. Last verified August 3, 2026.

Three findings fall out of that table.

The two published series moved in opposite directions in all six year-to-year comparisons. List price rose each time; estimated net price fell each time.

2022 is the first year estimated net price fell below half of list price. It was 50.6% of list in 2021 and 41.5% in 2022.

The calculated dollar gap grew every year, from $198.32 to $678.44. The 2024 gap was 3.4 times the 2018 gap.

The caveat is not decorative. SSR Health derives estimates from public company financial information. The values are not audited claim-level transactions, use a rolling average, and exclude Medicaid statutory rebates. The calculated gap can reflect rebates, discounts, fees, concessions, estimation choices, and timing differences. Calling the entire 70.0% a “rebate share” would claim more precision than the source supports.


What do Oregon's carrier records show about actual price concessions?

Oregon's 2023 carrier-submitted commercial data recorded $51.48 million in gross Ozempic cost and $24.44 million in reported price concessions, leaving $27.05 million after concessions. Price concessions appeared on 85.8% of the 48,107 submitted claims.

This is a different window from the HHS national estimated net-price series. It is state-specific, carrier-submitted, and claim based. That makes it useful precisely because it is not another restatement of the same estimate.

Table 5. Oregon carrier-reported commercial Ozempic concessions, 2023
MetricOregon carrier-submitted value
Enrollees16,254
Claims48,107
Claims with a price concession41,258
Share of claims with a concession85.8%
Cost before concessions$51,483,857
Reported manufacturer price concessions$21,165,105
Reported PBM price concessions$3,269,305
Other reported price reductions$3,408
Total reported concessions$24,437,818
Cost after concessions$27,046,039
Average gross payer spend per enrollee$3,167
Average after-concession payer spend per enrollee$1,664
Average gross spend per claim$1,070
Average after-concession spend per claim$562
Average concession per claim$508

Source: Oregon Prescription Drug Affordability Board, Ozempic affordability review, Tables 7 and 8. Reorganized by Weight Loss Provider Guide Research. Last verified August 3, 2026.

The arithmetic in Oregon's table produces a 47.5% reduction from submitted gross cost to submitted after-concession cost. That does not turn into a national rebate rate. It is a 2023 Oregon commercial-market snapshot built from the carriers that responded to the state's data call.

Oregon also states that it did not have enough specific evidence to calculate the total manufacturer-to-PBM concessions in the broader Oregon market as a percentage of the drug's price. The carrier table is real; the missing broader estimate is real too.


Has Ozempic's list price risen faster than inflation?

In a limited two-point CPI-U comparison, the $729.40 August 2018 benchmark equals about $966.05 in June 2026 dollars. The current $1,027.51 WAC is 6.4% above that inflation-adjusted benchmark, compared with a 40.9% nominal increase.

Here is the arithmetic:

Inflation-adjusted value = historical price × comparison-period CPI ÷ historical-period CPI

$729.40 × 333.952 ÷ 252.146 = $966.05

The inputs are the Bureau of Labor Statistics' non-seasonally adjusted CPI-U for August 2018 and June 2026. June is the latest month used in this comparison; the WAC is the current amount verified on August 3, 2026. The result is therefore an anchored comparison, not a month-by-month real-price series.

Oregon's year-by-year table separately shows Ozempic's WAC change exceeding CPI-U over the annual intervals ending in 2019, 2020, 2023, and 2024, and trailing CPI-U over the intervals ending in 2021 and 2022.

A full inflation-adjusted history would require exact effective months for every increase. Those dates are not established for the 2025 and 2026 changes, so this page does not pretend to have that series.

Sources: BLS historical CPI-U table; Oregon PDAB Ozempic review. Calculation by Weight Loss Provider Guide Research.


What is Ozempic's list price in 2026?

Novo Nordisk's price-transparency page lists a WAC of $1,027.51 for every displayed Ozempic injection pen package. The page is dated May 2026 and was verified on August 3, 2026.

Table 6. Current manufacturer-published Ozempic injection WAC
Injection packageWAC
0.25 mg or 0.5 mg dose, 3 mL pen, one-pen package$1,027.51
1 mg dose, 3 mL pen, one-pen package$1,027.51
2 mg dose, 3 mL pen, one-pen package$1,027.51

Source: Novo Nordisk Ozempic price-transparency page, dated May 2026. Last verified August 3, 2026.

The page establishes the amount and the current package configuration. It does not establish the exact date in 2026 when the WAC moved from $997.58 to $1,027.51. That effective date remains unclaimed.

The equal package WAC does not mean every patient uses the same dose or pays the same amount. It means the manufacturer publishes the same WAC for the three displayed injection packages.


Will Ozempic's list price go down in 2027?

Novo Nordisk has announced that Ozempic injection's U.S. WAC will fall from $1,027.51 to $675 on January 1, 2027. The calculated reduction is $352.51, or 34.3%, and remains an announced future change until implementation is verified.

The manufacturer announcement applies the $675 WAC to Ozempic injection 0.5 mg, 1 mg, and 2 mg and describes the reduction as approximately 35%. It also says the list-price change does not alter direct-to-patient self-pay prices.

Three details should travel with the headline:

$675 is not the current WAC. The current published injection WAC remains $1,027.51 as of the verification date.

A lower WAC is not a guaranteed copay. Novo Nordisk says the cut is intended to help patients whose costs are linked to list price, including some people with high-deductible or coinsurance designs. The effect on one person's out-of-pocket amount still depends on that person's coverage.

The one-dollar comparison is nominal. The future $675 is one dollar below the $676 planned price reported at approval. It is not one dollar below the $729.40 historical August 2018 pen price, and it is not an inflation-adjusted comparison.

Source: Novo Nordisk announcement, February 24, 2026.


What will Medicare's negotiated price for Ozempic be in 2027?

CMS reports a rounded $274 30-day Maximum Fair Price for the selected-drug grouping “Ozempic; Rybelsus; Wegovy,” effective January 1, 2027. Its package-specific example for one Ozempic 4 mg/3 mL pen is $276.78.

Those figures are Medicare negotiated prices. They are not Ozempic's national WAC and are not a guaranteed beneficiary copay.

Table 7. The verified 2027 Ozempic price benchmarks
BenchmarkAmountEffective dateWhat it measures
Manufacturer injection WAC$675Jan. 1, 2027Announced national list price before discounts and rebates
CMS rounded 30-day MFP$274Jan. 1, 2027Negotiated benchmark for the selected-drug grouping containing Ozempic, Rybelsus, and Wegovy
CMS package-specific MFP example$276.78Jan. 1, 2027One Ozempic 4 mg/3 mL pen, NDC 00169-4130-13

Source: CMS negotiated-price fact sheet for initial price applicability year 2027 and Novo Nordisk's 2027 WAC announcement. Last verified August 3, 2026.

CMS's rounded table uses a $959 2024 list-price basis and reports a 71% discount for the selected semaglutide grouping. The package file then applies the negotiated price to specific NDCs, producing $276.78 for the cited Ozempic pen.

Is the $245 Medicare GLP-1 price an Ozempic price?

No—not under CMS's current Bridge product list.

CMS says participating manufacturers provide eligible Bridge products at a $245 net price per monthly supply, with a $50 beneficiary copay. The current eligible products are Foundayo, Wegovy injection and tablets, and Zepbound KwikPen. Ozempic is not on that list.

Ozempic does appear elsewhere on the CMS page in the historical Part D utilization lookback used to determine Bridge eligibility. That does not make Ozempic a covered Bridge product. Treating the $245 Bridge amount as a verified Ozempic price would collapse two separate CMS provisions into one false number.

Source: CMS Medicare GLP-1 Bridge information for Part D plans, last verified August 3, 2026.


Why does every source show a different Ozempic price?

Because “the price of Ozempic” can mean WAC, estimated manufacturer net price, manufacturer self-pay, retail cash price, a discount-card quote, pharmacy acquisition cost, Medicare MFP, or one patient's out-of-pocket amount. Those figures describe different transactions and cannot be spliced into one time series.

Table 8. What each Ozempic price type actually measures
Price typeWhat it measuresExample in this recordBelongs in the core WAC history?
WAC / list priceManufacturer price to a wholesaler or direct purchaser before discounts and rebates$1,027.51 in 2026Yes
Estimated manufacturer net priceEstimated manufacturer revenue after discounts and concessions in non-Medicaid markets$290.08 in 2024No; separate series
Manufacturer self-payDirect program price subject to dose, channel, and eligibility terms$199 introductory; then $349 or $499 for injectionNo; separate timeline
Retail cash priceA pharmacy's quoted cash priceVariesNo
Discount-card priceA negotiated consumer quote through a particular programVariesNo
Pharmacy acquisition costA pharmacy-purchase benchmark under a defined program and unitOregon AAAC varies by quarterNo
Medicare Maximum Fair PriceStatutorily negotiated Medicare price$274 rounded 30-day grouping; $276.78 package exampleNo; separate Medicare table
Patient out-of-pocket costCopay, coinsurance, deductible exposure, or self-pay amount for one personVaries by patient and planNo

Source: Weight Loss Provider Guide Research definitions based on Novo Nordisk's WAC definition, HHS ASPE methodology, Oregon PDAB methodology, and CMS negotiated-price materials. Last verified August 3, 2026.

How to check an Ozempic price claim in two minutes

  1. Name the price type. If the source does not say list, net, self-pay, cash, acquisition, negotiated, or out-of-pocket, the number is incomplete.
  2. Attach the date. The $968.52 WAC was correct in 2024 and stale by 2026.
  3. Attach the product and package. Ozempic now includes injection and tablets. A tablet bottle and an injection pen should not silently share one historical line.
  4. Check the status. The $675 WAC is announced for 2027, not current in 2026.
  5. Use the issuer for current figures. Novo Nordisk is the direct source for current WAC and program prices; CMS is the direct source for Medicare MFP and Bridge rules.
  6. Use government histories for older observations. Oregon and HHS expose the source and methodology behind the annual series.

How has the manufacturer's injection self-pay price changed?

The first national manufacturer injection self-pay offer located in this review was $499 per month in August 2025. Novo Nordisk reduced the standard amount for the lower injection doses to $349 in November 2025 and currently advertises two qualifying introductory fills at $199 before the standard dose-based price applies.

Table 9. Novo Nordisk injection self-pay timeline
DateInjection self-pay amountScope and status
Aug. 18, 2025$499 per monthNew national offer for eligible self-paying injection patients
Nov. 17, 2025$199 for each of first two monthly fillsIntroductory offer for qualifying new patients at 0.25 mg or 0.5 mg
Nov. 17, 2025$349 per monthNew standard amount for 0.25 mg, 0.5 mg, or 1 mg
Nov. 17, 2025$499 per monthStandard amount for 2 mg remained $499
Current, verified Aug. 3, 2026$199 intro, then $349; $499 for 2 mgIntroductory two-fill offer stated through Dec. 31, 2026; current terms control

Sources: Novo Nordisk's August 18, 2025 announcement; November 17, 2025 announcement; current NovoCare terms. Last verified August 3, 2026.

The current terms make a distinction the old draft missed. People enrolled in government-funded insurance may use the self-pay option outside their insurance, according to the current NovoCare page. The payment does not count toward the person's deductible or out-of-pocket requirements and cannot be submitted to the insurer for reimbursement.

The manufacturer also defines one injection month as one box containing one pen and reserves the right to modify or cancel the program. The $199 amount is not a new national WAC. It is a temporary program price for two qualifying fills at the lowest injection doses.


What did Oregon Medicaid pharmacies report paying for Ozempic?

Oregon's reported AAAC moved from $386.65 per unit in the first quarter of 2020 to $387.93 in the fourth quarter of 2024, a 0.3% endpoint increase. Its annual average moved from $389 in 2020 to $382 in 2024, a 1.8% decline.

Both statements are true because they use different observations. The draft had combined the 0.3% quarter-end change with the annual-average table and then compared it with a 2018–2024 WAC change. Version 1.1 keeps the time windows straight.

Table 10. Oregon Medicaid fee-for-service AAAC for Ozempic
YearAnnual average AAAC per reported unit
2020$389
2021$389
2022$374
2023$366
2024$382

Source: Oregon Prescription Drug Affordability Board Ozempic affordability review, Table 6, compiled from Oregon Health Authority pharmacy surveys. Last verified August 3, 2026.

Over the shared 2020–2024 calendar window, the normalized package WAC in this page's core series rose from $811.05 to $968.52, or 19.4%. The AAAC annual average fell 1.8%. That is a comparison of trends, not a direct comparison of dollar levels.

The direct dollar levels should not be divided by each other without confirmed unit definitions. Oregon places AAAC per unit beside unit WAC, but its review reports inconsistent end-of-2024 unit-WAC figures in different sections. This page therefore reproduces Oregon's AAAC trend and does not claim a pharmacy margin from those mismatched units.


Why does the current price page show Ozempic tablets?

The tablets are not a pricing-page error. FDA approved a January 30, 2026 labeling change that renamed Rybelsus formulation R2 as Ozempic tablets, and Novo Nordisk's current price page lists Ozempic tablet strengths alongside the injection pens.

FDA's supplement approval letter is explicit: the labeling update changed the product name from “Rybelsus (formulation R2)” to “Ozempic (semaglutide) tablets.” The manufacturer price page currently displays 1.5 mg, 4 mg, and 9 mg tablet bottles, each at a $1,027.51 WAC.

The core history on this page remains injection-only. The historical 2017 approval, pen packages, NDC selection, and annual WAC observations were built around Ozempic injection. Folding the newer tablet brand into that old line would make the dataset less clear, not more complete.

Sources: FDA supplement approval letter, January 30, 2026; Novo Nordisk current price page. Last verified August 3, 2026.


How can you verify the Ozempic price data yourself?

Every core number on this page traces to a public record, and the downloadable data preserves the source URL, date precision, evidence status, and limitations note for each row. The shortest verification path is the source register below.

Table 11. Ozempic price-history source register
What you want to verifyDirect source
FDA approval date and NDA 209637FDA Ozempic injection approval letter
$676 planned price reported at approvalReuters contemporaneous report
Exact $729.40 August 2018 pen priceFierce Pharma contemporaneous report
Historical list and estimated net price seriesHHS ASPE Issue Brief HP-2024-25
Exact 2019–2024 WAC historyOregon PDAB 2024 document package
Rounded 2018–2024 history, CPI comparison, AAAC, and Oregon concessionsOregon PDAB Ozempic affordability review
$997.58 manufacturer-attested 2025 WACNovo Nordisk testimony to Massachusetts HPC
Current $1,027.51 WAC and package listNovo Nordisk Ozempic price page
Announced $675 WAC for 2027Novo Nordisk February 24, 2026 announcement
2027 Medicare MFPCMS negotiated-price fact sheet
Current $245 Bridge rule and eligible productsCMS Medicare GLP-1 Bridge information
Current manufacturer self-pay termsNovoCare Ozempic savings and self-pay page
CPI-U inputsBLS historical CPI-U table
Ozempic tablet name changeFDA January 30, 2026 supplement approval

Source: Weight Loss Provider Guide Research. Last verified August 3, 2026.

The CSV is the practical research file. It uses one row per observation or metric and includes a series ID so incompatible price types can be filtered instead of accidentally charted together. The JSON version carries the same rows plus methodology, limitations, and rejected-claim notes.


What are the limitations of this Ozempic price history?

This dataset tracks published benchmarks and estimates, not every transaction. The 2017 and 2027 endpoints are announcements, the effective dates of the 2025 and 2026 increases remain unverified, and the net-price series is an estimate rather than an audited claim file.

The full limits are these:

The core history is injection-only. Ozempic tablets became a labeled product name in 2026 and are treated separately.

Package configurations are not identical in every year. The series is normalized around a one-pen, approximately 30-day benchmark. Oregon's official methodology selected package and NDC data to represent the historical trend.

The 2017 $676 figure is a reported plan. FDA verifies approval; Reuters supplies the contemporaneous price statement.

The exact $729.40 early observation comes from contemporaneous reporting. HHS later corroborates the amount, while Oregon's newer table rounds it to $729.

The exact effective dates of the 2025 and 2026 increases were not established. The amounts are verified. The dates are not invented.

The 2027 $675 WAC is announced, not current. Its status should change only after implementation is verified.

The HHS net prices are estimates. They come from SSR Health, use a four-quarter rolling average, and apply to non-Medicaid markets. They are not audited payer transactions and do not include Medicaid statutory rebates.

The calculated list-to-net gap is not a pure rebate rate. It can include multiple forms of discounts and concessions plus estimation and timing effects.

The Oregon concession table is state-specific. It reflects carrier-submitted 2023 commercial data, not a national all-payer rate.

The Oregon AAAC series is program- and unit-specific. The trend is reportable; a direct dollar comparison with package WAC is not supported without reconciled unit definitions.

The CMS $274 and $276.78 figures are Medicare-specific. They are not national list prices and not guaranteed beneficiary copays.

The inflation calculation is a two-point comparison. It does not replace a complete real-price series with exact effective months.

This is a U.S. price record. It does not describe prices in other countries.

This page is educational. Price history does not determine whether Ozempic is appropriate for a particular person. Medical decisions belong with a licensed clinician; benefit and coverage questions belong with the relevant insurer, pharmacy, program administrator, or official source.


Frequently asked questions about Ozempic price history

The answers below keep injection WAC, estimated manufacturer net price, self-pay, pharmacy acquisition cost, and Medicare prices separate. Each answer uses the same dated definitions and source boundaries as the tables above.

How much did Ozempic cost when it first came out?

Novo Nordisk said it planned to charge $676 per prescription when FDA approved Ozempic injection on December 5, 2017. The first historical pen price recovered in this review is $729.40 from August 13, 2018.

What is Ozempic's list price in 2026?

Novo Nordisk's current price page lists a $1,027.51 WAC for every displayed Ozempic injection pen package. The page is dated May 2026 and was verified August 3, 2026.

How much has Ozempic's list price increased?

From the $729.40 August 2018 benchmark to the current $1,027.51 WAC, the nominal increase is $298.11, or 40.9%. The compound change across the eight year-labeled observation intervals is approximately 4.4% per interval, not a date-exact CAGR.

Has any published Ozempic price gone down?

The core injection WAC/list-price observations rose through 2026. HHS's separate estimated non-Medicaid manufacturer net-price series fell from $531.08 in 2018 to $290.08 in 2024, a 45.4% decline.

What will Ozempic cost in 2027?

Novo Nordisk has announced a $675 injection WAC effective January 1, 2027. CMS separately reports a $274 rounded 30-day MFP for the selected-drug grouping and a $276.78 package-specific example for one Ozempic 4 mg/3 mL pen.

Is the $245 Medicare GLP-1 price an Ozempic price?

No—not under CMS's current Bridge product list. The Bridge's $245 manufacturer net price currently applies to eligible Foundayo, Wegovy, and Zepbound KwikPen products; Ozempic is not listed as an eligible Bridge product.

Is Ozempic's list price what patients pay?

Not necessarily. Novo Nordisk says most insured people do not pay WAC. One person's cost depends on coverage, deductible and coinsurance rules, dose, pharmacy, program eligibility, and other plan terms.

Will the 2027 WAC cut lower every copay?

No. The effect depends on how a plan calculates cost-sharing. A lower WAC can matter when coinsurance or deductible exposure is tied to the underlying price, while a flat copay may not move in the same way.

Why are there now Ozempic tablets?

FDA approved a January 30, 2026 labeling change that renamed Rybelsus formulation R2 as Ozempic tablets. The current Ozempic price page lists tablet strengths alongside the injection pens, but the core historical series on this page remains injection-only.


How to cite this page

The citation record below identifies the publisher, page title, dataset version, verification date, and canonical URL.

Weight Loss Provider Guide Research. “Ozempic Price History: U.S. Injection List Price by Year, 2017–2027.” Version 1.1. Last verified August 3, 2026.
https://weightlossproviderguide.com/research/ozempic-price-history/


About this research

Weight Loss Provider Guide Editorial Team produced this page for Weight Loss Provider Guide Research by extracting and reconciling public regulatory, government, manufacturer, and contemporaneous historical records.

Who produced this: Weight Loss Provider Guide Editorial Team for Weight Loss Provider Guide Research.

How it was produced: We extracted price observations from FDA, HHS, CMS, state drug-affordability records, manufacturer testimony and current price pages, and contemporaneous reporting for the early announced and historical amounts. We classified each observation by product, price type, package basis, date precision, and evidence status before calculating changes.

Why it exists: Ozempic's public price record is scattered across approval letters, long government PDFs, manufacturer pages, testimony, program terms, and announcements. Those records use different definitions. This page consolidates them without turning unlike prices into one misleading chart.

Weight Loss Provider Guide Research is the site's noncommercial research and reference section, publishing source-led datasets about weight-loss care and medication access.

Related research: GLP-1 Affordability Index · Medicare GLP-1 Spending by State · GLP-1 Insurance Coverage Mandates by State