Novo Nordisk pact to bring GLP-1s to more Americans at a lower cost

Danish diabetes and obesity drug giant Novo Nordisk (NOV: N) has agreed with the US Administration to lower drug prices beginning in 2026 and expand patient access and affordability for its GLP-1 semaglutide medicines, including Wegovy and Ozempic, in the USA.

The list price for Ozempic and Wegovy jabs would drop from at least $1,000 a month to $350 when bought through TrumpRx, the US President’s new website that is scheduled to launch in early 2026.

Novo Nordisk's shares were down 1.8% following the announcement. Analysts expect the price cuts to impact short-term revenue, but potentially boost volumes in the longer term. "These price cuts represent a near-term headwind laid on top of competitive pressures, but in the medium to long term, they may boost volumes," TD Cowen analysts said in a note.