Eli Lilly, Novo Nordisk Strike MFN Deals With Trump Administration to Lower GLP-1 Prices

Eli Lilly and Novo Nordisk have come to an agreement with the Trump Administration to lower the costs of their landmark glucagon-like peptide-1 (GLP-1) receptor agonist drugs tirzepatide (Zepbound, Mounjaro; Eli Lilly) and semaglutide (Ozempic, Wegovy; Novo Nordisk) for Medicare and Medicaid recipients beginning in 2026. The news was announced at a press conference at the White House and in news releases by each company.^1-3

The agreement comes as the Trump Administration is pushing pharmaceutical companies to align with “most favored nation” (MFN) status, ensuring that drugs sold in the United States are comparable to the often-lower prices found in other wealthy nations. It also coincides with the development of TrumpRx by the White House, which is intended to be a direct-to-consumer purchasing platform for discounted drug prices.^4,5

Eli Lilly and Novo Nordisk, along with these price reductions, are set to guarantee MFN pricing on all new medicines that they bring to the market, according to the Trump Administration. According to the TrumpRx website, the platform will launch in January 2026.⁶

“Today’s announcement will bring semaglutide medicines to more American patients at a lower cost,” Mike Doustdar, president and CEO of Novo Nordisk, said in a news release. “Importantly, this also expands obesity medication access in Medicare, which will allow people living with obesity to access authentic [semaglutide].”²

How Much Are Prices Being Lowered?

According to information released by the White House, the price of semaglutide is expected to reach $350 per month—a reduction from the thousands of dollars patients paid monthly—when purchased through TrumpRx. For tirzepatide and the investigational oral GLP-1 orforglipron (Eli Lilly), prices would fall from $1086 monthly to an average of $346 when purchased through TrumpRx.¹

The announcement also considers future FDA approvals of oral GLP-1 RAs. For these oral products, including oral semaglutide (Wegovy in a pill; Novo Nordisk), the initial dose of those drugs will be priced at $150 monthly through TrumpRx.¹

For patients enrolled in Medicare, the price of semaglutide and tirzepatide will be $245, which will also apply to state Medicaid programs. The fact sheet also states that Medicare will be able to cover semaglutide and tirzepatide for patients with obesity and related comorbidities for the first time; Medicare enrollees are set to pay a $50 monthly copay.¹

Eli Lilly and Novo Nordisk also agreed to reduce costs on other products when purchased through TrumpRx. Galcanezumab (Emgality; Eli Lilly), an injectable medication used for the prevention of migraines and treatment of cluster headaches, will be priced at $299 per injection, a reduction of $443 from the original price. Furthermore, dulaglutide (Trulicity; Eli Lilly), a treatment to improve blood glucose control in patients with type 2 diabetes, will be priced at $389 per month, a reduction of almost $600.¹

Commonly used insulin products manufactured by Novo Nordisk, including insulin aspart (NovoLog; Novo Nordisk) and insulin degludec (Tresiba; Novo Nordisk), will be priced at $35 per month of supply, according to the White House.¹

What Should Pharmacists Know?

As the push for MFN continues, impacts to pharmacists and their patients are expected to increase. Ron Lanton, Esq., partner at Lanton Law, has warned that conflicts with existing pricing frameworks—such as established coverage for GLP-1 use for Medicare patients with certain medical conditions—and a lack of clear enforcement guidelines could pose challenges to MFN pricing proposals.^7,8

“When you look at MFN, it's not a mandate or requirement,” Lanton explained. It's more of a veiled threat almost—where if you don't do these things, you know you're either going to get a tariff, there's a Section 232 investigation, or there's some kind of negative reaction if you don't comply.”⁸

In their announcement, Novo Nordisk said they expect to receive a 3-year tariff exemption.²

Lanton also warned that MFN status could lead to unintended consequences in drug access or supply for community and specialty pharmacies. He noted that if a drug’s price goes below a certain threshold, prices could be raised elsewhere to compensate, perhaps in another country or in another drug class.⁸

“We’re going to see some definite negative consequences from the policy,” Lanton said.⁸

REFERENCES

1. Fact sheet: President Donald J. Trump announces major developments in bringing most-favored-nation pricing to American patients. Fact sheet. The White House. Published November 6, 2025. Accessed November 6, 2025. https://www.whitehouse.gov/fact-sheets/2025/11/fact-sheet-president-donald-j-trump-announces-major-developments-in-bringing-most-favored-nation-pricing-to-american-patients/

2. Novo Nordisk announces agreement with the U.S. Administration to bring GLP-1s to more Americans at a lower cost. News release. Novo Nordisk. Released November 6, 2025. Accessed November 6, 2025. https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916450

3. Lilly and U.S. government agree to expand access to obesity medicines to millions of Americans. News release. Eli Lilly. Released November 6, 2025. Accessed November 6, 2025. https://investor.lilly.com/news-releases/news-release-details/lilly-and-us-government-agree-expand-access-obesity-medicines

4. Halpern L. Pfizer agrees to lower certain drug prices in US, aligning with most-favored nation plan. Pharmacy Times. Published October 1, 2025. Accessed November 6, 2025. https://www.pharmacytimes.com/view/pfizer-agrees-to-lower-certain-drug-prices-in-us-aligning-with-most-favored-nation-plan

5. Halpern L, Silvius L. Breaking news: AstraZeneca, White House announce most-favored-nation deal. Pharmacy Times. Published October 10, 2025. Accessed November 6, 2025. https://www.pharmacytimes.com/view/breaking-news-astrazeneca-white-house-set-to-agree-to-most-favored-nation-deal

6. TrumpRx. Accessed November 6, 2025. https://trumprx.gov/

7. Lovelace Jr., B. Trump strikes deal to lower cost of weight loss drugs. NBC News. Published November 6, 2025. Accessed November 6, 2025. https://www.nbcnews.com/health/health-news/trump-weight-loss-drugs-cost-wegovy-zepbound-novo-nordisk-eli-lilly-rcna242309

8. Lanton R, Halpern L. How pharmacists can navigate legal complexities with most favored nation status. Pharmacy Times. Published October 16, 2025. Accessed November 6, 2025. https://www.pharmacytimes.com/view/how-pharmacists-can-navigate-legal-complexities-with-most-favored-nation-status