Novo Nordisk A/S (NYSE:NVO) shares are down during Wednesday’s premarket session. The down move comes as the company announced plans to cut the list prices of its GLP-1 drugs by up to 50% in the U.S. starting in 2027, adding pressure as broader markets edged lower.
Novo Nordisk Announces Major GLP-1 Drug Price Cuts
The price reduction, announced on Tuesday, will affect popular medications such as Wegovy, Ozempic, and Rybelsus, with the new list price set at $675 per month, down from current prices ranging from $1,027 to $1,350.
This move aims to alleviate out-of-pocket costs for patients, especially those enrolled in high-deductible plans, who often delay treatment due to high expenses.
In addition, the company’s CEO, Mike Doustdar, mentioned that Novo Nordisk aims to reach about 15 million new patients when Medicare begins covering obesity treatments later this year.
The announcement comes amid competitive pressures in the GLP-1 market, particularly from rivals like Eli Lilly and Co. (NYSE:LLY), which saw its shares drop following Novo’s pricing news.
Partnership For Next-Gen Oral Weight Loss Drugs
On Wednesday, Novo Nordisk and Vivtex Corporation partnered to develop next-generation oral biologic medicines for obesity, diabetes, and associated comorbidities.
Vivtex will license select oral drug-delivery technologies to Novo Nordisk, while Vivtex is eligible to receive upfront consideration, research funding, and milestone payments totalling up to $2.1 billion, and tiered royalties on future product sales.
Stock Slumps After Trial
On Monday, Novo Nordisk released disappointing headline data from its REDEFINE 4, an open-label phase 3 trial from the global REDEFINE clinical trial program.
After the update, Novo Nordisk stock hit its 52-week low.
The broader market experienced gains on the previous trading day, with the S&P 500 rising by 0.35%. NVO’s decline contrasts with the overall market performance, suggesting that company-specific factors are influencing its stock movement.
Analyst Consensus & Recent Actions
The stock carries a Buy Rating with an average price target of $99.05. Recent analyst moves include:
- JP Morgan: Downgraded to Neutral (Feb. 24)
- CICC: Initiated with Outperform (Target $73.50) (Jan. 9)
- Argus Research: Downgraded to Hold (Dec. 8, 2025)
NVO Price Action: Novo Nordisk shares were down 1.79% at $37.90 during premarket trading on Wednesday. The stock is trading at a new 52-week low, according to Benzinga Pro data.
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