Novo Nordisk said Wednesday it has agreed to the U.S. Inflation Reduction Act’s (IRA) negotiated maximum fair prices for semaglutide, the active ingredient in its popular drugs Ozempic and Wegovy, effective January 2027.
“While maintaining all legal challenges and rights, Novo Nordisk accepted the US Inflation Reduction Act’s Maximum Fair Price (MFP) for Ozempic, Rybelsus and Wegovy in Medicare Part D, effective as of January 2027,” the Danish drugmaker said.
These drugs are part of the second batch of 15 medicines selected under President Biden’s 2022 IRA program, which allows Medicare to negotiate prices for some of the costliest treatments for seniors and people with disabilities.
READ: Ozempic maker Novo Nordisk to cut about 9,000 jobs globally (September 10, 2025)
“The estimated direct impact of a semaglutide MFP in Medicare Part D, had it been introduced 1 January 2025, would have been a negative low single-digit impact on global sales growth for the full year 2025,” Novo Nordisk said.
Novo Nordisk now expects 2025 sales to grow by up to 11% and operating profit by as much as 7% at constant exchange rates, down from its earlier forecast of up to 14% revenue growth and a 10% profit increase.
Headquartered in Bagsværd, Denmark, Novo Nordisk is a leading global pharmaceutical company specializing in diabetes, obesity, cardiovascular, and rare-disease therapies. Its semaglutide-based drugs, including Ozempic (diabetes) and Wegovy (obesity), remain central to its growth, though competition has intensified, particularly from Eli Lilly and other GLP‑1 alternatives in the U.S. market.
In the first half of 2025, the company posted approximately 18% sales growth at constant exchange rates (CER), with revenues of DKK 154.9 billion and operating profit of DKK 72.2 billion. However, slower U.S. adoption, pricing pressures, and competitive market dynamics led Novo Nordisk to lower full-year 2025 guidance to 8–14% sales growth and 10–16% operating-profit growth at CER, reflecting a material slowdown in the second half of the year.
As part of its strategic transformation, Novo Nordisk plans to reduce its global workforce by roughly 9,000 positions, about 11% of its ~78,400 employees, to streamline operations and focus resources on core metabolic and cardiovascular therapies. Despite these challenges, the company retains a robust product portfolio, a strong global presence, and continued investment in innovation, sustaining its leadership in metabolic and obesity care while navigating an increasingly competitive and complex global market.
Novo Nordisk remains a global leader in metabolic and cardiovascular therapies, with semaglutide-based drugs like Ozempic and Wegovy central to its growth. In November 2025, the company announced it would accept the U.S. Inflation Reduction Act’s negotiated maximum fair prices for these drugs in Medicare, effective January 2027. The company noted that, had these prices applied in 2025, global sales growth could have been negatively affected by a low single-digit percentage, highlighting that the impact is projected, not realized.
While retaining a robust product portfolio, strong global presence, and ongoing investment in innovation, Novo Nordisk faces forward-looking challenges including regulatory changes, pricing pressures, and intensified competition. These caveats underscore that 2025 results, while strong, reflect a combination of realized performance and anticipated market dynamics, with future growth not guaranteed.