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Novo Nordisk Shares Drop 5.6% as Trump Promises Price Cuts on Weight-Loss Drug
Novo Nordisks shares dropped 5.6% after Donald Trump announced potential price cuts on the companys weight-loss medication, Ozempic, during a White House event.
- Novo Nordisk experienced a 5.6% decline in shares on Friday following remarks by Donald Trump about lowering prices for Ozempic, a leading weight-loss medication.
- During a Thursday event focused on drug pricing and fertility treatments, Donald Trump specifically mentioned Ozempic as a medication that would see reduced costs for consumers.
- The announcement comes amid increasing scrutiny on pharmaceutical pricing, especially for medications like Semaglutide, which is used for weight loss and diabetes management.
Why It Matters
This development highlights ongoing tensions in the pharmaceutical industry regarding drug pricing and affordability, especially for medications like Semaglutide that play a significant role in weight loss. It signals potential regulatory changes that may impact Novo Nordisks revenue and market dynamics.