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.

In other news, Novo Nordisk announced the results from its phase 3b STEP UP semaglutide trial today. Specifically, the company said semaglutide 7.2 milligram (mg) injections over a 72-week period resulted in an average weight loss of 20.7%, better than the 17.5% weight loss achieved in a prior trial of semaglutide 2.4 mg injections.

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, but if they don’t, they face fines or the possible end of Medicare reimbursements.

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.

Medicare released its next target list of 15 drugs to negotiate prices of, including Novo Nordisk's blockbuster GLP-1 drugs.

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,

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.

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

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

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