Get the skinny on this. Novo Nordisk, the Danish pharmaceutical company that manufactures Ozempic, said that it is “very likely” the cost of the popular diabetes-turned-weight loss drug will be cut in the second round of Medicare drug price negotiations.

In August 2023, the U.S. Department of Health and Human Services announced the first 10 drugs covered under Medicare Part D for the first cycle of negotiations.

Danish drugmaker Novo Nordisk expects its diabetes drug Ozempic will "very likely" be on the U.S. government's 2027 list of price negotiations, Bloomberg News reported on Tuesday citing a company executive.