Eli Lilly and Novo Nordisk Commit to GLP-1 Price Cuts Through MFN Deals

November 13, 2025

medicaid Medicare

On Nov. 6, the Trump Administration announced new Most Favored Nation (MFN) drug pricing agreements with Novo Nordisk and Eli Lilly to lower costs for GLP-1 medications across Medicare, Medicaid, and direct-to-consumer (DTC) sales through TrumpRx. The agreements have the same key components as prior MFN deals but go a step further with lower prices for Medicare.

  • Medicare and Medicaid:
    • The prices for Wegovy, Ozempic, Mounjaro, and Zepbound will be $245/month with a Medicare beneficiary copay of $50/month. Officials announced that the reduction in prices will enable Medicare to cover Wegovy and Zepbound for patients with obesity and related comorbidities for the first time.
    • All state Medicaid programs will also have access to these medications for $245/month.
  • TrumpRx: When the DTC platform launches in early 2026,Ozempic and Wegovy will be priced at $350/month, while Zepbound and the pending oral GLP-1 (Orforglipron) will average $346/month. New oral GLP-1s, if approved, from either company will be priced at $150 for initial doses. Additional discounts will apply to other Lilly and Novo products, including Trulicity, Emgality, Novolog, and Tresiba.

Similar to other MFN deals, both agreements also include: 1) guaranteeing MFN prices on all new-to-market products from Lilly and Novo, and 2) providing a three-year tariff exemption to Lilly and Novo in exchange for investments in U.S. manufacturing and research and development. PCMA issued a statement supporting accountability for manufacturers and reaffirming the role of PBMs in driving lower drug prices.

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