Cash price for popular weight loss drug Wegovy dropping 30% Monday, manufacturer says
Injection pens for the weight-loss treatment Wegovy, manufactured by Novo Nordisk A/S, on display during a news conference in Mumbai, India, on Tuesday, June 24, 2025.(Photographer: Dhiraj Singh/Bloomberg via Getty Images)
(NEW YORK) — The cash price for popular weight-loss medications Wegovy and and the medication authorized for people with type 2 diabetes Ozempic are dropping by 30% in U.S. on Monday, according to Novo Nordisk, the Danish pharmaceutical company that manufactures both drugs.
The new monthly cost for either GLP-1 drug will be $349, down from its current price of $499, for customers who are not using insurance, the company said. The new pricing will be in place on Monday at 70,000 retail pharmacies and other places, including Walmart and Costco’s pharmacies, the drugmaker said.
The previous cash price for Wegovy matched that of a full dose of Zepbound, a competing drug from competitor Eli Lilly.
“As pioneers of the GLP-1 class, we are committed to ensuring that real, FDA-approved Wegovy and Ozempic are affordable and accessible to those who need them,” Dave Moore, Novo Nordisk executive vice president, said in a statement. “The US healthcare system is complex, with different types of insurance and various ways for patients to obtain their medicines. Our new savings offers provide immediate impact, bringing forward greater cost savings for those who are currently without coverage or choose to self-pay.”
Moore added that the price cut is “part of a larger strategy to expand access that includes building relationships with telehealth providers and major retailers, expanding coverage, and working with the Administration to lower costs for people living with chronic diseases like obesity and type 2 diabetes.”
This is a developing story. Please check back for updates.
The Cloudflare logo appears on a smartphone screen and as the background on a laptop computer screen in this photo illustration in Athens, Greece, on October 31, 2025. (Photo by Nikolas Kokovlis/NurPhoto via Getty Images)
(NEW YORK) — Web infrastructure company Cloudflare said it is experiencing problems across its network on Tuesday, curtailing access to some popular websites.
“Cloudflare is aware of, and investigating an issue which potentially impacts multiple customers,” the company said online at around 7 a.m. ET.
Minutes later, the company said it had begun to resolve the issue. “We are seeing services recover, but customers may continue to observe higher-than-normal error rates as we continue remediation efforts,” Cloudflare said.
Some popular websites, like social media platform X and artificial-intelligence chatbot ChatGPT, appeared to be down or limited on Tuesday.
Cloudflare helps companies handle user traffic, including efforts to respond to cyberattacks and load information.
A landing page on X alerted ABC News to an “internal server error,” urging users to “visit cloudflare.com for more information.” A similar warning appeared on ChatGPT’s website, telling ABC News to “please unblock challenges.cloudflare.com to proceed.”
X did not immediately respond to ABC News’ request for comment. Neither did OpenAI, the company behind ChatGPT.
This is a developing story. Please check back for updates.
(NEW YORK) — Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase.
The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week ending on Thursday, which amounted to the largest one-week drop in mortgage rates this year, FreddieMac data shows. As recently as January, the average 30-year fixed mortgage rate exceeded 7%.
The sharp drop in mortgage rates owes in part to government data showing a significant decline in hiring, which has heightened expectations that the Federal Reserve will slash interest rates and in turn put downward pressure on borrowing costs, some analysts told ABC News.
Each percentage point decrease in a mortgage rate can save thousands or tens of thousands in additional cost each year, depending on the price of the house, according to Rocket Mortgage.
“This is a significant drop,” Ken Johnson, a real estate economist at the University of Mississippi, told ABC News.
The trend poses a quandary for homebuyers, the experts added: Do buyers move quickly to snap up a favorable mortgage or wait to see if interest rates fall even further?
Mortgage rates closely track the yield on a 10-year Treasury bond, or the amount paid to a bondholder annually. Bond yields are shaped in part by expectations of the benchmark interest rate set by the Fed, some experts said.
Five meetings and nine months have elapsed since the Fed last adjusted interest rates. The federal funds rate stands between 4.25% and 4.5%, preserving much of a sharp increase imposed in response to a pandemic-era bout of inflation.
That posture is expected to shift, however. Fed Chair Jerome Powell recently hinted at the possibility of an interest rate cut, appearing to indicate greater concern for flagging employment growth than for rising prices.
Investors peg the chances of three quarter-point rate cuts by the end of this year at about 76%, according to CME FedWatch Tool, a measure of market sentiment.
The anticipated decline of interest rates has already been priced into the level of mortgage rates, however, meaning the path of rate cuts would need to become more aggressive than expected in order to push mortgage rates down further, Lu Liu, a professor at the Wharton School at the University of Pennsylvania, told ABC News.
A further slowdown of the job market could prompt the Fed to cut interest rates more than expected, but a continued resurgence of inflation could deter central bankers from easing rates at the risk of exacerbating price increases.
“Expectations of lower near-term rates are being priced in, so current mortgage rates look a bit more attractive,” Liu said.
Julia Fonseca, a professor at the Gies College of Business at the University of Illinois at Urbana-Champaign, cautioned against homebuyers attempting to predict the level of mortgage rates.
“Trying to time the market or predict future rate movements is notoriously hard to do,” Fonseca told ABC News.
Meanwhile, the typical price of a home has fallen in recent months. The median sales price of a home in the U.S. registered at $410,800 over three months ending in June, which marked a decline from a price of $423,100 over the previous three-month period, U.S. Census Bureau data shows.
“Prices have cooled, inventory is up, time on the market is up,” Fonseca said. “All of this suggests it’s a more favorable market for buyers relative to recent years. That said, it’s really hard to predict what will happen with prices in the future.”
If homebuyers move forward with a purchase but later find that mortgage rates have continued to fall, they can opt to refinance their homes, Fonseca added. She suggested homebuyers avoid mortgage contracts that include pre-payment penalties, since such fees could add to the cost of a potential decision to refinance.
“I would be guided by your needs and your personal financial situation, rather than try to make predictions about future prices and future interest rates,” Fonseca added.
(NEW YORK) — Exercise equipment company Peloton is voluntarily recalling approximately 833,000 exercise bikes due to a potential issue specific to the bike’s seat post, the company announced Thursday.
According to the company announcement, the recall affects “certain Original Series Bike+ models manufactured from December 2019 through July 2022 for sale in the U.S. and Canada.”
“The Original Series Bike+ seat post can break during use, posing a potential fall and injury risk to consumers,” the company stated.
Peloton said it has so far received three reports of Original Series Bike+ seat posts breaking “out of approximately 833,000 units sold in the U.S.”
“Peloton has received no reports of a seat post breaking, out of 44,800 units sold in Canada,” it added.
According to a recall announcement on the U.S. Consumer Product Safety Commission website, the affected bikes were sold at Peloton and Dick’s Sporting Goods stores nationwide, as well as online at Peloton, Dick’s, Amazon and eBay from January 2020 to April 2025. The bikes retailed for approximately $2,495, according to the agency.
The CPSC also stated that of the three broken seat post reports Peloton received, two included “reports of injuries due to a fall.”
Peloton said Thursday that impacted users should stop using the recalled bikes and contact Peloton for a replacement seat post.
The replacement seat post is a CPSC-approved solution, a Peloton spokesperson told ABC News.
Both the company and the CPSC noted the new seat posts can be self-installed.
The affected bikes bear the model number PL02 and serial numbers beginning with the letter “T,” according to Peloton. The serial number can be found “inside the front fork, behind the front fork, or behind the flywheel,” the company said.
In a statement to ABC News, the Peloton spokesperson said, “The integrity of our products and our Members’ well-being are our top priorities. We are taking this opportunity to make replacement seat posts available to all affected Bike+ users and we encourage them to contact us to receive the redesigned seat post as soon as possible.”
Peloton previously voluntarily recalled over 2 million bikes, Bike Model PL01, in 2023, warning that the bike seat post assembly could break and cause users to fall.
