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COPENHAGEN (Reuters) – Shares of Danish weight-loss drug maker Novo Nordisk (NYSE:) rose 1.3% on Tuesday as U.S. President Jo Biden proposed increasing protection of anti-obesity medicine for thousands and thousands on Medicare and Medicaid.
“This is a vital step ahead for sufferers,” Novo Nordisk mentioned in an announcement commenting on the proposal, including that the protection might grow to be efficient in 2026.
Present guidelines for the Medicare and Medicaid authorities medical health insurance applications cowl the usage of medicine akin to Mounjaro, Ozempic and Wegovy for sure situations like diabetes, however not for weight problems as a situation by itself.
The White Home mentioned in an announcement the proposal might decrease out-of-pocket prices for weight-loss medicine by as much as 95%, increasing entry to thousands and thousands of Individuals.
Nordnet analyst Per Hansen mentioned Novo’s share transfer got here on the again of the proposal, with U.S. peer Eli Lilly (NYSE:) additionally rising in premarket commerce.
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