Weight loss drug shares tumble after Trump promises Ozempic price cut
Trump’s Ozempic comment that sent weight loss drug stocks tumbling
- Donald Trump's vow to lower the price of Ozempic in the US caused a drop in shares for major weight-loss drug manufacturers Friday.
- Trump is pushing for lower Ozempic prices as part of his “most favored nation” policy, which aims to narrow the gap between US and foreign drug prices.
- He said, “I was referring to Ozempic, or - I was referring to - the fat loss drug?.... They'll be much lower.”
- Trump previously said he wanted to see the price of Ozempic reduced to $150 from $1,000 for a month’s supply.
- Novo Nordisk and Eli Lilly, key players in the obesity treatment market, saw their stocks fall following Trump's comments.