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 i ...