US President Donald Trump on Thursday announced a deal with pharmaceutical giants Novo Nordisk and Eli Lilly to reduce the prices of their diabetes and obesity drugs.
Under the agreement, Eli Lilly’s Zepbound will be priced at $299 per month, while Novo Nordisk’s Wegovy will cost $499 per month. Both drugs currently exceed $1,000 per month.
Additionally, the medication will become more affordable for Medicare recipients, who are older Americans reliant on the government healthcare platform. Patients on Medicare will pay just $50 per month, with the government subsidising the remainder.
In return for lowering their prices, the companies will be exempt from President Trump’s trade tariffs for three years and will benefit from expedited approval processes for new medications.
