The talks on drugs including Novo Nordisk's Wegovy, GSK's Trelegy Ellipta, and Pfizer's Xtandi will set Medicare prices that go into effect in 2027.

Novo Nordisk’s blockbuster GLP-1 products Ozempic and Wegovy are among the next 15 drugs subject to the government’s Medicare negotiation program under the Inflation Reduction Act, following repeated calls from lawmakers to make the treatments more affordable.

The U.S. government has selected the second batch of drugs up for Medicare price negotiations under the Inflation Reduction Act. | The U.S. government has selected the second batch of drugs up for Medicare price negotiations under the Inflation Reduction Act.

Stock prices for Novo Nordisk fell by about 3% at market open after the Biden administration selected its revolutionary drugs for mandatory price negotiations.

The US plans to slash the price it pays for the Novo Nordisk A/S blockbusters Ozempic and Wegovy, the latest drugs to be targeted under legislation that’s expected save the government more than $200 billion over a decade.

The Biden administration said Medicare will negotiate discounts with drug companies on 15 drugs prescribed to treat cancer, diabetes and asthma.

The U.S. government on Friday announced a list of 15 prescription medicines targeted for Medicare price negotiations for 2027, which includes Novo Nordisk's blockbuster weight-loss drug Wegovy.Here's

On its last weekday in power, the Biden Administration has chosen the next batch of drugs up for price negotiation in Medicare.