The President of the United States of America wants to see substantially reduced the price of Danish weight loss medicine Novo Nordisk. It is a promise that is part of Trump’s initiative to reduce the price of medicines, in a country where prices are usually higher than in most Western countries.
The onslaught is causing a collapse in the shares of Danish pharmaceutical companies and their North American competitor, Eli Lilly.
Donald Trump suggested, writes the Financial Times (FT)that the price of Ozempic drops to 150 dollars, three times less than current prices. Novo Nordisk had already reduced in early 2025, to half (i.e. 499 dollars)the price of Ozempic in the US for people who do not have access to health insurance.
Pharmaceuticals under pressure
At a press conference on Thursday, Trump assured that the price of Ozempic would be “much lower” as soon as his government concluded ongoing negotiations with the Danish group that pioneered drugs for obesity, popular around the world. Statements made on the same occasion aimed to announce an agreement to reduce the costs of fertility treatment in vitro.
This Friday, shares in the Danish pharmaceutical group were falling 5% at the start of the Copenhagen Stock Exchange. And it wasn’t the only one penalized: shares in Eli Lilly, its main competitor in the obesity market, fell 4% in pre-market trading in New York, notes the FT.
Mehmet Oz, director of the Centers for Medicare and Medicaid Services, present at the conference pressexplained that negotiations with Novo Nordisk are still ongoing. “The President will be satisfied with the results”, stressing that they will not close the negotiations until they reach an agreement that meets the expectations of the Trump administration.
Historically, North American patients pay much higher prices for medicines than their peers in industrialized countries. Us USATrump has highlighted that branded medicines are, on average, two to three times more expensive than in Europe.
Since returning to the White House, Trump has been pressuring pharmaceutical companies to lower prices, threatening them with an increase in import tariffs if they do not agree.
Last month, Pfizer recalled the Financial Timesreached an agreement with the North American administration to reduce the prices of some medicines. Eli Lilly is still in negotiations.