Novo Nordisk, Europe's largest pharmaceutical firm, will reduce the price of its weight-loss drug, Wegovy, to less than half its listed price, following a similar move by Eli Lilly. This price competition comes as both companies face scrutiny over high drug costs, with many consumers unable to afford these medications. Novo Nordisk's shares rose by 3.8% after the announcement, but the company has underperformed compared to Eli Lilly this year. The FDA's recent declaration of an end to drug shortages may affect the availability of compounded versions of these medications. Novo Nordisk aims to improve affordability and access for patients without insurance coverage, while also preparing for slower growth in 2025 due to increasing competition.