Shares of Eli Lilly (LLY) and Novo Nordisk (NVO) will be in focus on Thursday as President Trump is expected to join the company executives at the White House shortly to announce a major drug-pricing deal, including for their blockbuster obesity medicines.
The announcement scheduled for 11 a.m. ET will mark the latest pharma deal the U.S. has signed this year in line with President Trump’s most-favored-nation (MFN) pricing policy, which seeks to lower U.S. drug prices to the levels in other developed nations.
Among major drugmakers, Pfizer (PFE) and AstraZeneca (AZN) have already inked agreements with the White House to provide some of their prescription drugs at significant discounts to cash-paying customers through a government-run website named TrumpRx.
On Tuesday, The Wall Street Journal reported that as part of their agreements, Novo (NVO) and Lilly (LLY) will offer the lowest doses of their weight-loss drugs, Wegovy and Zepbound, through TrumpRx for $149 and $299 per month, respectively.