Back to today’s briefing

Story perspectives

Trump and Novo Nordisk Announce Major Drug Price Cuts

12/19/2025

24 5 Full Breakdown

Summary

Story summary

On November 6, 2025, Novo Nordisk CEO Maziar Mike Doustdar and U.S. President Donald Trump announced a deal to lower prices for GLP-1 weight-loss drugs under the Most Favored Nations pricing model.
Trump's administration has pressured firms to lower U.S. prices and onshore production.
Argenx derives 85% of its sales from the U.S., the highest exposure.
Merck KGaA and Bayer have 30% U.S. exposure, the lowest among listed firms.

1 of 1

Story summary

On November 6, 2025, Novo Nordisk CEO Maziar Mike Doustdar and U.S. President Donald Trump announced a deal to lower prices for GLP-1 weight-loss drugs under the Most Favored Nations pricing model.
Trump's administration has pressured firms to lower U.S. prices and onshore production.
Argenx derives 85% of its sales from the U.S., the highest exposure.
Merck KGaA and Bayer have 30% U.S. exposure, the lowest among listed firms.