Medicare announces price cuts for 15 prescription drugs, including Ozempic

The Centers for Medicare and Medicaid Services on Tuesday announced lower prices on 15 costly prescription drugs under Medicare, including Ozempic and Wegovy.

The Centers for Medicare and Medicaid Services on Tuesday announced lower prices on 15 costly prescription drugs under Medicare, including Ozempic and Wegovy.

The price cuts come through the Medicare drug price negotiation program created under the Inflation Reduction Act, which President Joe Biden signed into law in 2022.

It’s different from President Donald Trump’s “most favored nation” drug pricing approach, which relies on executive orders and voluntary deals with drugmakers — not legislation. Trump recently announced such a deal with Novo Nordisk, the maker of Ozempic and Wegovy, to lower the price of the drugs in exchange for tariff relief.

The Trump administration has been largely quiet about the Medicare price negotiation program.

This is the second round of negotiations. Last year, the Biden administration reached deals on 10 prescription drugs, including several for heart disease and diabetes. Those price cuts are set to take effect in 2026. This latest round of price negotiations will go into effect in 2027.