Novo Nordisk (NVO) said Tuesday it launched Wegovy HD, an injectable 7.2 milligram version of its popular weight-loss drug, in the US.

The company said the drug is priced at $399 per month for self-paying customers, a price that undercuts the cash prices for the higher doses of rival Eli Lilly's (LLY) Zepbound. Self-pay prices for the higher doses of Zepbound range from $499 to $699, according to Lilly's website.

Wegovy HD, with a dosage higher than the previously approved maximum of 2.4 mg, showed an average weight loss of about 21% at 72 weeks in a clinical trial, Novo Nordisk said.

The drug will be available nationwide through pharmacies and telehealth providers, the company said.