Just how much Medicare price negotiations will negatively impact Novo Nordisk, though, depends on what the final negotiated prices for Ozempic, Wegovy, and Rybelsus will be. In Medicare's negotiations for 2026, the new prices achieved an average of 22% savings.

Novo Nordisk said a higher dose of its drug Wegovy led to greater weight loss in patients during a late-stage trial, but the results fell short of the weight loss achieved with Eli Lilly's rival drug Zepbound,

Adults with obesity receiving once-weekly semaglutide 7.2 mg lost a higher proportion of their body weight at 72 weeks than adults receiving semaglutide 2.4 mg, according to top-line results from the STEP UP phase 3b trial.