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

Popular weight loss and diabetes drugs like Ozempic and Wegovy have been added to Medicare’s list of medications that will be negotiated directly between the government and drug manufacturers, the Biden administration said Friday.

Federal officials are targeting the blockbuster drugs as part of their ongoing initiative to lower drug costs.

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,

Ozempic was one of the 15 drugs selected for the 2027 Medicare drug price negotiation program three days before President-elect Donald Trump takes office.

Wegovy, Ozempic added to list of drugs where the federal government will try winning discounts from manufacturers.

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.

Drugs used to treat cancer, diabetes and other chronic conditions are among 15 picked for negotiations that could result in lower prices for patients, the Department of Health and Human Services confirmed Friday.

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

And the last round of IRA negotiations gave Medicare an average of 22% in ter