Eli Lilly and Novo Nordisk stocks fall as Trump says he wants $150 price for GLP-1s

Core Viewpoint - Shares of Eli Lilly and Novo Nordisk declined following President Trump's announcement regarding plans to significantly reduce the cost of GLP-1 weight loss drugs to $150 per month, which is substantially lower than their current prices [1]. Group 1: Price Reduction Announcement - President Trump stated that the administration aims to lower the price of certain GLP-1 drugs, specifically mentioning Ozempic, from $1,300 to approximately $150 [2]. - The price reduction is intended to standardize costs across different locations, as highlighted by the price disparity between London and New York [2]. Group 2: Administration's Position - Dr. Mehmet Oz, the Centers for Medicare and Medicaid Administrator, clarified that the administration has not yet negotiated price reductions with drug manufacturers for GLP-1 drugs [3]. - A week prior, Dr. Oz indicated that discussions regarding pricing with weight loss drugmakers were ongoing, suggesting that negotiations are in progress but not finalized [3].