Novo, Lilly Fall After Biden Calls for Cheaper Obesity Drugs

[Passages]

Poll shows Biden more trusted than Trump on health care costs

Novo, Lilly shares drop after editorial published in USA Today


Novo Nordisk A/S and Eli Lilly & Co. shares fell Tuesday after US President Joe Biden continued his push for cheaper medicines by demanding price cuts on their blockbuster weight-loss and diabetes drugs.

The companies are charging “unconscionably high prices” that are above those paid in other countries, Biden said in an editorial with Vermont Senator Bernie Sanders published in USA Today. If “pharmaceutical companies refuse to substantially lower prescription drug prices in our country and end their greed, we will do everything within our power to end it for them,” they wrote.

Novo fell 1.1% in Copenhagen Tuesday, while Lilly shares dropped as much as 3.9% before paring losses in New York.
https://www.bloomberg.com/news/articles/2024-07-02/novo-lilly-slip-as-biden-demands-glp-1-drug-price-cuts


Excellent.

[Aristus]

1. Maybe it's just me, but I don't see how a drop of 1.1%

is going to have the shareholders bolting for the exits.