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, part of a law pharmaceutical companies have pledged to revisit with the Trump administration.

Stock prices for Novo Nordisk dropped precipitously Friday after a last-minute announcement from the Biden administration that the premier drugs from the Danish pharmaceutical juggernaut have been selected for forced price negotiations for Medicare.