NVO Stock Down as Medicare Selects Semaglutide Drugs for Price Cuts
Novo Nordisk’s NVO shares lost 5.3% on Friday after Medicare issued a press release selecting the company’s popular semaglutide medicines as one of the 15 additional drugs covered under Medicare Part D for the second round of price negotiations in 2025. Novo Nordisk markets its semaglutide medicines as Ozempic pre-filled pens and Rybelsus oral tablets for type II diabetes (T2D) and Wegovy injections for weight management.
Any price reduction resulting from the impending negotiations will become effective in 2027. For continued coverage of its semaglutide medicines under Medicare, NVO has until Feb. 28, 2025, to decide if it will participate in negotiations or pay a large tax on U.S. sales of the drugs. Either way, investors…
