Novo Nordisk’s NVO shares lost 5.3% on Friday after Medicare issued a press release selecting the company’s popular semaglutide medicines as one of the 15 additional drugs covered under Medicare Part D for the second round of price negotiations in 2025.

Novo Nordisk's blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy are among the 15 drugs targeted for Medicare price negotiations for 2027, the U.S. government said on Friday. Other drugs on the list include Pfizer's cancer drugs Ibrance and Xtandi,

The U.S. government named 15 drugs that will be subject to the second round of price negotiations by Medicare, including Ozempic and Wegovy, the drugs at the center of the weight-loss craze. The Biden administration said the drugs account for $41 billion in annual Medicare spending,