Novo is currently in a golden age of growth. Over the last five years, its trailing-12-month revenue grew by 109%, reaching $39.3 billion, thanks to its portfolio of potent drugs for cardiometabolic illnesses like diabetes and obesity.

Stock prices for Novo Nordisk fell by about 3% at market open after the Biden administration selected its revolutionary drugs for mandatory price negotiations.

GLP-1 weight loss drugs, Ozempic and Wegovy, will be targeted in the next round of Medicare price negotiations in 2027, along with 13 other medications. Seana Smith and Brad Smith break down the details on Morning Brief.

In other news, Novo Nordisk announced the results from its phase 3b STEP UP semaglutide trial today. Specifically, the company said semaglutide 7.2 milligram (mg) injections over a 72-week period resulted in an average weight loss of 20.7%, better than the 17.5% weight loss achieved in a prior trial of semaglutide 2.4 mg injections.

Novo Nordisk said patients taking a bigger dose of its blockbuster obesity drug lost more weight than those on a lower dose, without experiencing an increase in side-effects.

Shares of Novo Nordisk (NYSE:NVO) fell 2% following the announcement of results from its STEP UP obesity trial, which showed that Semaglutide 7.2 mg achieved a 20.7% weight loss in participants, and 18.