”It’s truly an honor to be here today for this historic step forward to expand access to a class of medications that can fundamentally change to arc of chronic disease in our country,” said Lilly President & CEO David Ricks in an Oval Office announcement.
President Trump said the companies have agreed to cap their costs for the popular Novo Nordisk drug Wegovy and the Lilly drug Zepbound to $149-$245 per month and the medications will be made available to Medicaid and Medicare patients.
”It’s a great day for American health and health care and for all of American patients,” said Trump.
”Eli Lilly and Novo Nordisk are committing to offer Zepbound and Wegovy as most favored nations rates for American patients. This will slash the cost of Wegovy from $1,350 a month to ultimately $250 a month,” said the president. ”And reduce the monthly cost of Zepbound from $1,080 to $346. In additio,n they’re both committing that future GLP-1 weight loss drugs taken orally, which are currently under development will be sold at no more than $149 per month.”
Trump lauded the commitment of Lilly to his price reduction plan.
”You think it was easy saying, ‘Your drug, Mr. Eli Lilly, was selling for $1,300 was gonna be sold for $250.’ And you know, the amazing thing, their stocks all went up,” said Trump. ”Eli Lilly and Novo Nordisk have agreed to provide all of their other medications to Medicaid at most favored nations prices. Most favored nations. Meaning that you will pay the lowest price anywhere in the world.”
As part of the deal, Lilly’s new obesity drug in development will receive fast-track FDA review.
Both Lilly and Novo Nordisk stock prices took hits after the announcement of the deal, though analysts believe cheaper prices may lead to greater customer demand.
The drugs will be available next year at the yet-to-be-launched TRUMPRX.GOV website.
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