Novo Nordisk Shares Drop Amid Medicare Pricing Deal and Earnings Shortfall
Novo Nordisk's stock (NVO) declined sharply Wednesday following a Medicare pricing agreement and disappointing Q3 earnings. The Danish pharmaceutical giant conceded to lower prices for semaglutide, the active component in its weight-loss drug Wegovy and diabetes treatment Ozempic. This development coincides with ongoing negotiations between drugmakers and U.S. officials to reduce medication costs.
The company revised its full-year revenue guidance downward for the fourth time in 2025, despite maintaining strong demand for its flagship products. Market observers now await potential similar concessions from competitor Eli Lilly (LLY) regarding its obesity and diabetes treatments Zepbound and Mounjaro, currently priced above $1,000 before discounts.
