Eli Lilly, Novo Nordisk Stocks Fall After-Hours As Trump Pledges Swift Price Cuts For ‘Fat-Loss Drugs’

Shares of Eli Lilly & Co. and Novo Nordisk A/S fell in after-hours trading on Thursday after U.S. President Donald Trump said that the price of Novo Nordisk’s blockbuster diabetes and weight-loss drug Ozempic would soon be “much lower,” hinting at a potential cut to about $150 a month.

Eli Lilly’s stock fell 0.9% to $819.38 at Thursday’s close and slid another 3.7% after hours, while Novo Nordisk’s U.S.-listed stock dropped 1.1% to $56.09 in regular trading and declined a further 2.8% in late trading.

Trump Says Ozempic Prices Will Drop ‘Pretty Fast’

Trump made the comments during a White House event focused on fertility treatments and drug pricing. When asked to identify the medicine he planned to make more affordable, he replied, “I was referring to Ozempic, or - I was referring to - the fat loss drug?.... They'll be much lower,” according to a Reuters report.

He added that under his administration’s plans, the price of the drug could fall from around $1,000 a month to $150, and that the price cuts would come “pretty fast,” Bloomberg reported.

Novo’s Ozempic is used to manage diabetes, and Wegovy, a related medication, was recently approved to treat weight loss. The active ingredient in both is semaglutide. Novo Nordisk lists Ozempic at around $1,000 a month but sells it directly to cash-paying customers for about $499.

Novo Nordisk Confirms Ongoing Talks With US Officials

A Novo Nordisk spokesperson said the company has been in talks with the U.S. administration about the Most Favored Nation executive order, a policy meant to lower drug prices by tying them to what other countries pay. The spokesperson said Novo is committed to making its medicines more affordable and accessible but declined to comment directly on Trump’s statements.

The company is already involved in price discussions under the Inflation Reduction Act, which allows Medicare to negotiate the cost of some of the country’s most expensive drugs.

CMS Says GLP-1 Price Talks Still in Progress

During the same White House event, Mehmet Oz, who heads the Centers for Medicare and Medicaid Services (CMS), stepped in to clarify that the agency has not yet completed negotiations for GLP-1 drugs, the category that includes Ozempic, Wegovy, and Eli Lilly’s Zepbound. “We haven’t negotiated those yet,” he said, adding that discussions with the drugmakers are still underway.

How Stocktwits Traders Reacted To Trump’s Drug Price Remarks

On Stocktwits, retail sentiment toward Eli Lilly was ‘neutral’ with ‘normal’ message volume, while sentiment for Novo Nordisk was ‘bearish’ amid ‘low’ activity.

One retail trader noted that Trump’s and Oz’s comments suggested drug price negotiations were still underway, adding that the administration might aim for prices “much lower” than $1,300 rather than as low as $150, and hoped the White House would include compounded drugs in those talks.

Another trader said Eli Lilly had already taken the right steps by cutting prices, expanding production, and maintaining strong relationships with both Trump and RFK. They described the post-market selloff as an overreaction, adding that Trump’s mention of “alternatives” could benefit Viking Therapeutics.

While Eli Lilly’s stock has risen 7% so far in 2025, Novo Nordisk’s U.S.-listed stock has declined 33% over the same period.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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