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,

Stock prices for Novo Nordisk fell by about 3% at market open after the Biden administration selected its revolutionary drugs for mandatory price negotiations.

Blockbuster weight-loss and diabetes drugs Wegovy and Ozempic top the list of 15 drugs selected for the second round of federal price negotiations, which are scheduled to begin this year, with resulting bargained prices going into effect in 2027.