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.

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

The Biden administration released another list of prescriptions drugs that would be subject to price controls. The price controls for the selected drugs will become effective in 2027.

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 U.S. government targets Novo Nordisk's drugs, including Ozempic and Wegovy, for Medicare price negotiations in 2027. Despite opposition from the pharmaceutical giant and other companies, these medications are part of the second wave under the Inflation Reduction Act to reduce costs for senior citizens.

The government is expected to pay lower prices for Ozempic and Wegovy starting in 2027. The Trump administration will decide whether to expand coverage for millions of Americans.

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.

GLP-1 weight loss drugs, Ozempic and Wegovy, will be targeted in the next round of Medicare price negotiations in 2027, along with 13 other medications. Seana Smith and Brad Smith break down the details on Morning Brief.

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,

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