Shares of Novo Nordisk and Eli Lilly took a hit after President Trump announced that the price of Ozempic, a popular diabetes medication, could drop to $150 a month from its current list price of around $1,000. This news is significant as it could impact the profitability of these pharmaceutical companies and the accessibility of essential medications for patients. With Trump suggesting that similar treatments like Mounjaro and Zepbound could also see price reductions, the market is reacting to the potential changes in the healthcare landscape.

President Donald Trump announced that the price of the diabetes medication Ozempic is expected to drop significantly, potentially to $150 a month. This news has negatively impacted the stock prices of major pharmaceutical companies Novo Nordisk and Eli Lilly. The announcement highlights ongoing discussions about drug pricing in the U.S. and could lead to increased competition in the diabetes treatment market, affecting both patients and investors.