Trump Pushes Ozempic Price Cuts; Stocks Fall

At a White House event, President Trump said Novo Nordisk’s Ozempic (semaglutide) should cost much lower — about $150 out‑of‑pocket — after his administration’s drug‑price negotiations and referenced a most‑favored‑nation pricing approach. CMS head Dr. Mehmet Oz clarified formal negotiations for the GLP‑1 class, which includes Ozempic and Novo’s obesity drug Wegovy, have not been completed. The remarks sent shares of Novo Nordisk and rivals including Eli Lilly sharply lower in premarket and early trading. Novo Nordisk said it is in discussions with the administration but provided no timeline, and analysts called the president’s comments aggressive posturing. Observers noted that insurers, Medicare negotiations under the Inflation Reduction Act, and the differing approvals and off‑label use of Ozempic versus Wegovy mean the ultimate commercial impact is uncertain.