Prices for Novo Nordisk’s blockbuster diabetes and weight-loss drugs Ozempic and Wegovy could face steep price cuts in the US after the government included them in the next round of Medicare negotiations.
Joe Biden’s administration on Friday named semaglutide, the key ingredient in the two blockbuster Novo Nordisk medicines, among a group of 15 drugs whose prices will be negotiated directly between manufacturers and the government.
Investor concerns that prices for Novo Nordisk’s bestselling medicines could be significantly cut knocked the Danish drugmaker from its position as the largest company in Europe by market capitalisation. Its shares dropped 4.3 per cent to DKr575.6 ($79.33).
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