Weight loss drugmaker Novo Nordisk will cut the list prices of Ozempic and Wegovy by up to 50% beginning in 2027, the company announced on Tuesday.

Wegovy currently carries a list price of $1,349 per month, while Ozempic is listed at $1,028 for a one-month supply. Both drugs will be listed at $675 per month beginning on Jan. 1, 2027, “representing reductions of approximately 50% and 35% for Wegovy and Ozempic, respectively,” according to Novo Nordisk.

The price cut will be designed to make Ozempic and Wegovy more affordable for people who receive the diabetes and obesity drugs through their health insurance, Novo Nordisk said.

Some insurance plans link coverage and out-of-pocket costs to the list price of medications. The upcoming price cuts will be the most helpful for “individuals with high-deductible health plans or co-insurance benefit designs,” said Jamey Millar, executive vice president of U.S. operations.

Novo Nordisk already announced Ozempic and Wegovy price cuts for some people last year, with the drugs now costing $349 per month for those paying full price without insurance. The drugs will also be cheaper for those on Medicare after the company cut a deal with President Trump’s administration.

Tuesday’s announcement came one day after the Denmark-based company released a study that revealed its planned next generation weight loss drug, CagriSema, could not keep up with Eli Lilly’s Zepbound and Mounjaro in a clinical trial .