Novo Nordisk shares fall 5.6% after Trump vows weight-loss drug price cut

Novo Nordisk's opens new tab shares fell 5.6% in early trade on Friday after US President Donald Trump said on Thursday that the price of the Danish drugmaker's best-selling weight-loss drug would be lowered. Trump made the comments during a White House event on fertility treatments and drug pricing.

He was asked by reporters to identify the name of a drug that he had earlier in the event said would be made less expensive.

"I was referring to Ozempic, or - I was referring to - the fat loss drug?.... They'll be much lower," Trump said.

Although Novo's Ozempic is approved for diabetes treatment, it shares thes same active ingredient as the group's blockbuster weight-loss drug Wegovy.

In the US, Ozempic has been frequently used off-label for obesity and often serves as a generic reference to weight-loss drugs.

At 0736 GMT, Novo Nordisk shares were down 5.6%, while shares of its peers Eli Lilly, opens new tab and Zealand Pharma, opens new tab also fell by around 4%.

Asked for comment, a Novo spokesperson said on Thursday: "Novo Nordisk has engaged in discussions with the Administration regarding the Most Favoured Nation executive order."

The spokesperson added the company was focused on improving patient access and affordability, but did not comment directly on Trump's remarks.

Read Also: ANZ’s Yetsenga says 2026 to be stronger year for India as cyclical recovery buildsRead about our editorial guidelines and ethics policy