Novo Nordisk A/S is undercutting arch-rival Eli Lilly & Co. on obesity drugs for cash-pay patients, showing its willingness to compete on price as it tries to claw back a larger share of the US market.

Starting Monday, introductory doses of Novo’s blockbusters Wegovy and Ozempic are available for $199 a month, the Danish drugmaker said. The price applies to the first two months of treatment; after that, Novo will offer the drugs via its NovoCare direct-to-consumer portal for $349 a month, 30% less than the current self-pay price. That matches Lilly’s price for a low dose of its obesity shot Zepbound and is less than the price of higher doses.

Shares of Novo Nordisk rose less than 1% in Copenhagen on Monday, while Lilly’s shares were down less than 1% in New York.

The price cuts will als

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