Novo Nordisk Hires US Pharma Veteran After Trump Touts ‘Much Lower’ Prices Of Ozempic

Novo Nordisk AS (NVO) on Friday hired U.S. pharmaceutical industry veteran Greg Miley as its senior vice president of corporate affairs, amid growing pressure from President Donald Trump over the pricing of its drugs in the United States.

“This opportunity comes at a pivotal moment for the company, and I am eager to get started and contribute to our mission of improving the lives of people living with chronic diseases,” Miley said in a post on LinkedIn, adding that he will be joining Novo Nordisk next month.

Miley currently serves as senior vice president of government affairs at U.S. pharmaceutical company AbbVie Inc. (ABBV).

Miley’s appointment comes after President Trump said during a White House event on Thursday that the prices of Novo Nordisk’s diabetes drug, Ozempic, will be “much lower.” He added that under his administration’s plans, the prices of Ozempic could be brought down to just $150 a month, from its current list price of $1,000 for a month’s supply.

Novo Nordisk shares were down more than 4% in Friday morning’s trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

Novo currently offers a month’s supply of Ozempic at $499 a month for uninsured or self-paying customers, while insured buyers can get it for as little as $25 a month.

According to a Bloomberg report, Mehmet Oz, head of the Centers for Medicare and Medicaid Services, clarified that talks over the prices of weight loss drugs are still underway. “The GLP-1 category of drugs, which includes Ozempic, have not been negotiated yet,” Oz said.

NVO stock is down 37% year-to-date and 55% over the past 12 months.

Also See: Trump Says China ‘Forced’ Him To Levy High Tariffs, But Thinks They Are ‘Not Sustainable’: Report

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