Danish drugmaker Novo Nordisk said Wednesday that it will drop prices 23% for all doses of Wegovy. The new monthly price of $499 takes effect immediately.

After Zepbound-maker Eli Lilly reduced the price of the weight-loss drug, competitor Novo Nordisk has cut the price of weight-loss drug Wegovy.

Novo Nordisk said it will offer all doses of Wegovy for $499 a month to patients paying cash, a bid to reach consumers who can’t get the blockbuster drug through insurance.