Trump said Ozempic prices will be lowered after negotiations with Novo Nordisk
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Novo Nordisk’s Blockbuster diabetes and Ozempic’s loss-related drug situation is set to see price cuts, according to President Donald Trump.
Trump said this week during a White House event on fertility and drug prices that the price reduction will come after quick negotiations with the drug maker.
“They’re going to be very low,” Trump told reporters.
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Novo Nordisk is the maker of Ozempic and Wegovy, which have the same active ingredient – Semarlutide – but are approved for different uses. Ozempic was approved by federal health officials in 2017 and is marketed for medical use in the treatment of type 2 diabetes as a weight-loss drug.
Wegovy was approved four years later for chronic weight management in adults who are overweight or obese and have at least one weight-related condition such as high blood pressure or type 2 diabetes. Both of these drugs have been in demand in recent years, especially for those who want to lose weight.
Ozempic is marketed for the treatment of type 2 diabetes by reducing the body weight as a side effect of the drug. (Marcus Brandt / Picture Alliance via Getty Images)
Novo Nordisk told FOX Business that it was in talks with the Trump administration regarding “the nation’s most beloved order.
“We are always focused on improving patient access and affordability, and we will continue to work to find solutions that help people get access to the treatment they need,” Novo Nordisk said.
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The Order is a drug pricing policy that seeks to ensure that Americans pay the lowest price charged for similar drugs in other developed nations.
Novo Nordisk is the maker of Ozempic and Wegovy, which have the same active ingredient – Semarlutide – but are approved for different uses. (Dhiraj Singh/Bloomberg via Getty Images/Getty Images)
Since taking office, Trump has focused on closing the gap between what Americans and foreign countries pay for the same medicine.
The comments come on the heels of a September announcement when Trump announced a drug price deal with Pfizer that would see the pharmaceutical giant reduce the cost of its American drugs.
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Paper It has committed to offering its prescription drugs to Medicaid at a “very popular” reduced price.
Ozempic was approved by state health officials in 2017. (Michael Siluk / UCG / Urfery Images Group via Getty Images)
“PFizer agrees to offer some of its most popular current medications to all consumers at deeply discounted rates anywhere between 50% and 100%. And that’s off, that’s off. And sometimes, even more than that. “
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The President added that the US is “made to fund health care around the world.”
Reuters and Fox Business’ Stephen Sorace contributed to this report.
