Novo Nordisk - which manufactures Wegovy, Ozempic and Saxenda - misreported, under-reported or did not disclose funding it gave to pharmacy firms, obesity charities and other professional bodies, according to the Prescription Medicines Code of Practice Authority (PMCPA).

The new treatment targets gut hormone GLP-1 but also mimics amylin, a hormone released by the pancreas that suppresses hunger.

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.