How much weight loss pills will cost as expert predicts just how effective they will be

The FDA has approved the use of a new weight loss drug in pill form, just in time for the New Year.

Wegovy has become the first pill of its kind to be approved by the US regulator, and represents a big step for weight loss drugs, according to pharmaceutical company Novo Nordisk.

Previously, similar drugs have had to be taken via injection, but Wegovy can be taken as a pill.

Injections are effective, but require clean needles for each use, being able to safely administer the shot, and are also much more unpleasant to take than a pill.

The new treatment is expected to be available in the US this month, as many people will be placing 'lose weight' on their list of new year's resolutions.

But just how much does the new drug cost?

The new treatment is in pill form (Jonathan Raa/NurPhoto via Getty Images)

Well, the costs involved in manufacturing pills versus injections means that the pill option will be cheaper.

Currently, the lowest dose of the pill is priced at $149 a month, though costs for the highest doses have not been announced yet.

This is significantly cheaper than the injected Ozempic, which costs $349 a month for lower doses, while a 2mg dose costs $499 a month for existing patients.

Ozempic is not licensed as a weight loss drug specifically, but for treating Type 2 diabetes, though it does also work as an appetite suppressant, which can help with weight loss when combined with a healthy diet and exercise.

However, the new pill has been approved by the FDA specifically for weight loss, with the highest dose being taken daily.

Trials carried out by Novo Nordisk saw around a third of 1,300 participants experiencing weight loss of 20 percent of their body weight or more over a period of 64 weeks.

Diabetes treatment Ozempic is injected (Peter Dazeley/Getty Images)

Over that period, the average weight loss for participants in the trial was 16.6 percent, Novo Nordisk has said.

Mike Doustdar, the Novo Nordisk chief executive, said: "Patients will have a convenient, once-daily pill that can help them lose as much weight as the original Wegovy injection."

He added: “As the first oral GLP-1 treatment for people living with overweight or obesity, the Wegovy pill provides patients with a new, convenient treatment option that can help patients start or continue their weight loss journey."

Another pharmaceutical giant Eli Lilly is also looking to release a pill form.

Novo Nordisk share prices leapt by some 10 percent during after hours trade in New York following the announcement of the new treatment.