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

Novo Nordisk's blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy are among the 15 drugs targeted for Medicare price negotiations for 2027, the U.S. government said on Friday.

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 announced Friday that Ozempic, Wegovy and 13 additional drugs will now be covered under Medicare Part-D for price negotiations, the next round of negotiations under the Inflation Reduction Act passed by President Joe Biden in 2022.

The Centers for Medicare and Medicaid Services (CMS) has included Ozempic among the next 15 drugs chosen for Medicare negotiation. The CMS listed Ozempic, Rybelsus and Wegovy — all forms of

Novo Nordisk's Ozempic and Wegovy, among 15 drugs including Pfizer's Ibrance, will face Medicare price negotiations in 2027, as mandated by the Biden administration's Inflation Reduction Act. The negotiations aim to curb high costs for Medicare beneficiaries,

Novo Nordisk's blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy are among the 15 drugs targeted for Medicare price negotiations for 2027, the U.S. government said on Friday. Other drugs on the list include Pfizer's cancer drugs Ibrance and Xtandi,

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

The White House on Friday said Novo Nordisk’s weight-loss drugs Wegovy and Ozempic were among the 15 medications picked for a round of price negotiations with Medicare. The companies do not have to negotiate,

Biden's administration announced weight loss drugs Ozempic and Wegovy will be included on Medicare's list of medications subject to direct price negotiations.