The FDA recently granted approval to Novo Nordisk’s Wegovy (semaglutide) for the treatment of noncirrhotic metabolic dysfunction–associated steatohepatitis (MASH). Approximately 6% of U.S. adults (14.9 million people) have MASH (formerly known as nonalcoholic steatohepatitis [NASH]), and its prevalence is growing. Wegovy is the first glucagon-like peptide-1 receptor agonist (GLP-1 RA) approved for this indication and is already approved for chronic weight management and to reduce the risk of major adverse cardiovascular events (MACE) with cardiovascular disease in obese patients. The annual wholesale acquisition cost (WAC) for Wegovy is approximately $18,000. Wegovy will now compete with Madrigal’s Rezdiffra (resmetirom), which received approval for MASH in March 2024 and has an annual WAC of approximately $50,000.