Survey Reveals the Amount Individuals are Willing to Invest in Weight Loss Medications
A recent survey conducted by Evercore ISI has shed light on the amount individuals are willing to invest in weight loss medications, specifically GLP-1s. GLP-1s are a new class of medications that are used to treat Type 2 diabetes and obesity. The survey, which included over 600 participants, sought to understand the willingness of patients to pay out of pocket for these treatments and how it correlated to their annual income.
One of the key findings of the survey was that patients’ willingness to pay more for weight loss medications was strongly correlated to their annual income. Participants with annual incomes over $250,000 stated that they were willing to pay more than $300 per month out of pocket for a GLP-1. On the other hand, only 4% of participants with annual incomes less than $75,000 said the same. Within this group, 64% stated that the maximum price they were willing to pay out of pocket for a GLP-1 was $50 per month or less.
The survey also highlighted concerns about equity in access to weight loss drugs, as insurance coverage for these medications is limited. GLP-1s, such as Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound, can cost between $900 and $1,350 per month before insurance and rebates. Both pharmaceutical companies offer savings programs to reduce out-of-pocket costs for these drugs, regardless of a patient’s insurance coverage.
In terms of current spending on GLP-1s, the survey found that more than half of people currently taking the medication are paying $50 or less per month out of pocket. This aligns with the maximum price they stated they were willing to pay. However, a small share of both current users and those considering the treatment reported paying more than $750 per month out of pocket.
The survey also examined the duration of time that patients stayed on the drugs. Interestingly, over 80% of participants who used to take a GLP-1 reported being on the therapy for 12 months or less. Reasons for discontinuation varied, including cost, reaching weight loss goals, or experiencing side effects. This premature stoppage of treatment is a concern for insurers who are hesitant to cover these medications.
Despite these concerns, nearly half of current GLP-1 users stated that they intend to stay on the drugs permanently. Only 10% of those considering the treatment said the same. Of this group, over 70% expressed intent to continue using the medication until they reach their weight loss goal.
The survey also asked participants if they would restart taking a GLP-1 if they regained weight after stopping the drug. The majority across all groups answered “yes.” Among those who used to take a GLP-1, 42% reported gaining some weight back after stopping treatment, while 13% gained most of it back and 23% gained all of it back. However, 23% of this group stated that they remained at a lower weight after stopping the drug.
The survey delved into the impact of GLP-1s on eating and drinking habits. Over 70% of respondents reported eating less while taking a GLP-1, regardless of pre-existing conditions. This aligns with the mechanism of action of GLP-1s, which mimic a hormone produced in the gut to suppress appetite and regulate blood sugar. Additionally, more than half of participants without pre-existing conditions reported drinking less alcohol while on a GLP-1. Among those with pre-existing conditions, a greater share abstained from alcohol while taking the medication.
Overall, the survey provides valuable insights into the willingness of individuals to invest in weight loss medications and how it relates to their income. It also highlights concerns about access and insurance coverage for these breakthrough drugs. The findings suggest that patients’ willingness to pay out of pocket is influenced by their income level, and there is a need for more affordable options and increased insurance coverage to ensure equity in access to these medications.
