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.

The U.S. government targets Novo Nordisk's drugs, including Ozempic and Wegovy, for Medicare price negotiations in 2027. Despite opposition from the pharmaceutical giant and other companies, these medications are part of the second wave under the Inflation Reduction Act to reduce costs for senior citizens.

GLP-1 weight loss drugs, Ozempic and Wegovy, will be targeted in the next round of Medicare price negotiations in 2027, along with 13 other medications. Seana Smith and Brad Smith break down the details on Morning Brief.

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