Just how much Medicare price negotiations will negatively impact Novo Nordisk, though, depends on what the final negotiated prices for Ozempic, Wegovy, and Rybelsus will be. In Medicare's negotiations for 2026, the new prices achieved an average of 22% savings.

Medicare released its next target list of 15 drugs to negotiate prices of, including Novo Nordisk's blockbuster GLP-1 drugs.

Novo Nordisk shares were 9.5% higher after the pharmaceutical giant said an experimental weight-loss shot showed patients lost 22% of their bodyweight in a clinical trial.

Novo Nordisk stock jumped Friday after the Danish drugmaker announced new data for a new weight-loss drug which appeared to be more efficient than its blockbuster drugs currently on the market, Ozempic and Wegovy.