Business
Nine of the largest pharma companies ink deals with Trump to lower drug prices
U.S. President Donald Trump speaks during an event in the Roosevelt Room of the White House December 19, 2025 in Washington, DC. Trump delivered remarks on lowering prescription drug prices during the event.
Alex Wong | Getty Images
Several of the largest U.S. and European-based drugmakers inked deals with President Donald Trump on Friday to voluntarily sell their medications for less, as his administration pushes to link the nation’s drug prices to cheaper ones abroad.
That includes Merck, Bristol Myers Squibb, Amgen, Gilead, GSK, Sanofi, Roche‘s Genentech, privately-held Boehringer Ingelheim and Novartis. In exchange, the companies agreed to a three-year grace period during which their products won’t face Trump’s planned pharmaceutical-specific tariffs — as long as the drugmakers further invest in U.S. manufacturing.
Among the most notable pledges on Friday is that Bristol Myers Squibb will offer Eliquis, its blockbuster blood thinner and top-prescribed product, for free to Medicaid.
The companies make up the majority of the 17 drugmakers Trump sent letters to in July, calling on them to lower prices as part of his “most favored nation” policy. Trump signed an executive order in May to revive that policy, calling for prices to be increased outside of the U.S. and to “end global freeloading.”
“As of today, 14 out of the 17 largest pharmaceutical companies … have now agreed to drastically lower drug prices for … the American people and the American patients,” Trump said at an event on Friday. “This represents the greatest victory for patient affordability in the history of American health care, by far, and every single American will benefit.”
Johnson & Johnson, AbbVie and Regeneron are the remaining companies among the largest that haven’t signed drug pricing deals. But Trump noted that Johnson & Johnson “will be here next week.”
How the drug pricing deals will work
The full terms of the deals were not immediately released, which makes it unclear how broad their impact will be.
The nine drugmakers agreed to take measures to reduce U.S. drug prices, including selling their existing treatments to Medicaid patients at the lowest “most favored nation” prices, and guaranteeing that pricing for new medicines. Trump said the drugmakers also agreed to list their most popular drugs on his upcoming direct-to-consumer website, TrumpRx, which is launching in January.
Some companies also launched new or expanded existing direct-to-consumer offerings for certain drugs. For example, Gilead said in a release that it will launch a program that will enable patients to access its hepatitis C treatment and cure, Epclusa, at a discounted price.
Sanofi said it will offer discounts of nearly 70% on certain medicines to treat infections and cardiovascular and diabetic conditions on TrumpRx and other direct-to-consumer platforms.
Merck said it will offer three diabetes medications, Januvia, Janumet and Janumet XR, at a roughly 70% discount to cash-paying patients through a direct-to-patient program. That program will be extended to the company’s experimental daily cholesterol pill if it gets approved in the U.S., according to the company.
“I reflect on your goal of driving affordability and access to Americans, but equally, getting prices up outside the United States,” Merck CEO Robert Davis said during the press conference. “And we’re 100% supportive of your actions.”
Meanwhile, Amgen will expand its existing direct-to-patient program to include preventative migraine medication Aimovig and autoimmune treatment Amjevita, at 60% and 80% discounted monthly prices, respectively.
Earlier this year, Trump announced agreements with Eli Lilly, Novo Nordisk, Pfizer, AstraZeneca and EMD Serono to sell certain drugs directly to patients at a discount, in exchange for exemptions from his planned pharmaceutical tariffs and other benefits, such as fast-tracked reviews of new drugs.
U.S. prescription drug prices on average are nearly three times higher than overseas, according to a 2024 study by Rand Corp. Prices for branded drugs were more than four times higher, the report found.
Trump signed an executive order in May to revive the policy of most favored nation, calling for prices to be increased outside of the U.S. and to “end global freeloading.”
Trade association PhRMA, which represents many major pharma companies, has said that most-favored nation pricing isn’t the best way to lower drug costs for Americans and instead blamed pharmacy benefit managers for the price disparity.
The U.S. is the single most important market for many drugmakers, regardless of their home country. Despite being based across the Atlantic, European pharma companies are heavily exposed to the U.S. market, with half of the 10 largest companies on the Continent generating a majority of their sales in the U.S.
Criminals are using AI to clone people’s voices and set up unauthorised direct debits over the phone, National Trading Standards (NTS) has warned.
NTS said “advanced” voice cloning was part of an organised criminal operation that appeared to be targeting older people.
Fraudsters began the process by asking victims to participate in a so-called “lifestyle survey” phone call, which was actually designed to gather personal, health and financial details.
The criminals then used this information to create AI-generated voice clones to simulate consent for direct debits.
The voice clones could then be used to set up payments with banks and other legitimate businesses and financial providers without the victim’s knowledge, NTS said.
Victims often did not realise payments were being taken, it warned.
Latest figures from NTS suggests that UK adults now receive an average of seven scam calls or texts per month, with about one in five (21%) receiving them most days and 9% receiving them every day.
NTS said it blocked almost 21 million scam phone calls and shut down 2,000 numbers in a six-month period.
Louise Baxter, head of the NTS scams team, said: “What we’re seeing is a deeply disturbing combination of old and new: traditional phone scams supported by disturbing new techniques.
“Criminals are using AI not just to deceive victims, but to trick legitimate systems into processing fraudulent payments.
“This is no longer just a nuisance – it’s a co-ordinated, sophisticated operation targeting some of the most situationally vulnerable consumers in society.
“We urge everyone to speak to friends and relatives about scam calls, check bank statements regularly and report anything suspicious.”
John Herriman, chief executive at the Chartered Trading Standards Institute (CTSI), said: “This alarming new twist in phone-based fraud shows just how quickly criminals are exploiting emerging technologies to prey on the public.
“Voice cloning takes scam calls to a sinister new level, making it even harder for legitimate businesses and consumers to distinguish real interactions from fraudulent ones.
“Trading Standards teams across the UK are working tirelessly to disrupt these operations but we need the public to stay alert, talk to loved ones about the risks and report anything suspicious.”
Which? consumer law spokeswoman Lisa Webb said: “You shouldn’t have to worry about your own voice being used against you in this way but sadly we’ve reached a stage where every phone call must be treated with suspicion. If you get any calls out of the blue, don’t be afraid to hang up, genuine callers won’t mind.
“If you see any direct debits or transactions on your bank account that you don’t recognise, contact your bank immediately using the number on the back of your card. You should also report any scams to Police Scotland or Report Fraud to investigate.
“It’s also worth making sure you’re registered with the telephone preference service to opt out of unsolicited marketing calls, that way you’ll know that any unexpected marketing or sales calls are either a rogue company or a scammer.”
Business
Eli Lilly’s GLP-1 growth is only getting started as Novo Nordisk braces for a decline in 2026
The Eli Lilly and Novo Nordisk logos.
Mike Blake | Tom Little | Reuters
It’s a tale of two drugmakers in the red-hot obesity drug market.
Both Novo Nordisk and Eli Lilly are grappling with lower prices in the U.S., but their 2026 outlooks are diverging sharply: While Novo is bracing for a sales decline, Lilly sees revenue jumping again thanks to its blockbuster medicines.
The split in guidance – despite similar headwinds – underscores the strength of Lilly’s position in the obesity and diabetes drug market, underpinned by its more effective injections and early foray into direct-to-consumer sales, among other factors. While Novo Nordisk effectively made the drugs mainstream, Lilly has since taken a clear edge in market share — and the forecasts show it will likely only extend its advantage this year.
“The difference in sales momentum and market share trend was visible throughout 2025, but the dichotomy between the two companies’ prospects was accentuated within this 24-hour period in which Novo guided below consensus and Lilly guided above consensus expectations,” Leerink Partners analyst David Risinger told CNBC on Wednesday.
“That really solidified an investor’s mind that Lilly is going to be the dominant player in obesity going forward,” he added.
This year, all eyes will be on how Lilly’s upcoming obesity pill, orforglipron, fares against Novo’s own oral Wegovy drug, which has had an explosive U.S. launch this year.
In an interview on CNBC’s “Squawk Box” on Wednesday, Lilly CEO Dave Ricks said 20 million to 25 million patients are currently taking both companies’ medicines. But he said the total addressable market of patients in the obesity space is “gigantic.”
Diverging outlooks
On Wednesday, Lilly forecasted 2026 sales of $80 billion to $83 billion, surpassing the $77.62 billion that analysts were expecting, according to LSEG.
The midpoint of that outlook translates to sales growing by 25% this year.
In contrast, Novo warned on Tuesday that it sees sales and profit declining by 5% to 13% this year, as prices fall in the U.S. and exclusivity expires for its blockbuster obesity and diabetes drugs in China, Brazil and Canada.
(L/R) Maziar Mike Doustdar, CEO of Novo Nordisk, and David Ricks, CEO of Eli Lilly, listen as US President Donald Trump speaks in the Oval Office during an event about weight-loss drugs at the White House in Washington, DC on November 6, 2025.
Andrew Caballero-Reynolds | Afp | Getty Images
Lilly similarly pointed to a “global pricing decline in the low- to mid- teens [percentages] this year.” That comes after the landmark “most favored nation” deals both companies struck with President Donald Trump in November to slash obesity and diabetes drug costs, along with their recent efforts to further reduce direct-to-consumer prices for their treatments.
The agreements with Trump are expected to take a bite out of both companies’ sales, but eventually increase volumes of prescriptions for their drugs. Still, Lilly is bullish about other factors that will help offset that pricing pressure.
That includes continued worldwide demand for its obesity drug Zepbound and diabetes counterpart Mounjaro and the expected launch of its GLP-1 pill for obesity in the second quarter, pending U.S. approval. Lilly also pointed to government Medicare coverage of obesity treatments starting for the first time by at least July, one of the winning features of the drug pricing deals with Trump.
Lilly’s Ricks told CNBC that coverage will open up access to 40 million new Medicare beneficiaries, “and that could be quite expansive to volume.”
Overall, Risinger called Lilly’s guidance “very encouraging” and said the “price per volume trade-off is playing out well” for the company.
He said tirzepatide, the active ingredient in Zepbound and Mounjaro, is “superior” in its effectiveness and tolerability compared to semaglutide, the ingredient in Novo’s obesity and diabetes drugs. That was proven in a head-to-head clinical trial conducted by Lilly in 2024, and prescription trends show that the company’s drugs are preferred among prescribers.
“I think that’s what is driving Lilly’s market share gain” relative to Novo, Risinger said.
Another factor that sets Lilly and Novo apart is patent exclusivity. While Novo said expiring patents in some international markets pose a challenge, Lilly’s Ricks said tirzepatide should be protected into “the back half of the 2030s” in major markets.
Risinger noted that Lilly is still working to drive global uptake for tirzepatide, which won U.S. approval for obesity in 2023.
All eyes on pills
A pharmacist displays a box of Wegovy pills at a pharmacy in Provo, Utah, Jan. 15, 2026.
George Frey | Bloomberg | Getty Images
Novo Nordisk is first to market with a GLP-1 pill for obesity, and it already hit 50,000 weekly prescriptions in just under three weeks of its launch. But investors are watching to see how that shifts once Lilly’s pill rolls out to patients later this year.
In an interview with CNBC’s “Mad Money,” Novo CEO Mike Doustdar said he’s confident about the company’s ability to compete with Lilly.
“Clearly we have the most efficacious weight reduction pill that there is and I’m very optimistic and bullish on when they come with their pill and we have to battle this out,” Doustdar said.
He’s referring to clinical trial data suggesting that Novo’s Wegovy pill promotes comparable weight loss to its injectable counterpart, which is around 15%. Meanwhile, Lilly’s pill appears to be slightly less effective than that, based on separate study data.
Risinger said the launch of Novo’s pill has benefited from the fact that the company is leveraging the Wegovy brand name, which is recognizable by many patients, and immediately launched direct-to-consumer advertising for the product in early January.
But he said Lilly could capitalize on its pill’s convenience advantage.
Orforglipron is a small-molecule drug that is absorbed more easily in the body and doesn’t require dietary restrictions like Novo Nordisk’s pill, which is a peptide medication. Patients are supposed to drink no more than four ounces of water with the Wegovy pill and must wait 30 minutes before eating or drinking anything else each day.
Novo contends that those requirements won’t hinder uptake, but Risinger said it could help Lilly’s pill eventually generate greater sales globally.
Sainsbury’s has launched a range of high protein and “nutrient rich” meals as supermarkets rush to meet soaring demand from customers on weight loss jabs.
The UK’s second-biggest supermarket chain said the new “small but mighty” range had been designed to be “perfectly portioned to support customers with reduced appetites” and meet their protein and fibre requirements.
Each meal contains fewer than 350 calories while being a source of fibre, containing at least 20g of protein and counting towards one of the “five-a-day” portions of fruit and vegetables.
Sainsbury’s said online searches for “high protein” were up 57% year on year and searches for “high protein ready meals” had increased by 300% as it also launched 19 products to meet demand.
The range includes a pesto chicken tortiglioni containing 35g of protein and a beef bolognese tagliatelle containing 33g.
Other products include high protein wraps, salads and sandwiches, porridge pots, cereals and natural yoghurts.
In February, the supermarket will also launch a selection of high protein bakery items including tortilla wraps, flatbreads and buttermilk pancakes.
James Campbell, Sainsbury’s director of fresh product innovation, said: “We understand people have different nutritional needs, appetites and tastes, and that continues to guide how we develop our products.”
Sainsbury’s follows retailers including Ocado, Marks & Spencer, Waitrose and Greggs in advertising new ranges catering for those taking GLP-1 drugs.
Floyd Mayweather Jr. sues Showtime; owed ‘at least’ $340M
Criminals using AI to clone voices and set up direct debits
The Best Super Bowl TV Deals
-
Sports1 week agoPSL 11: Local players’ category renewals unveiled ahead of auction
-
Entertainment1 week agoClaire Danes reveals how she reacted to pregnancy at 44
-
Sports1 week agoCollege football’s top 100 games of the 2025 season
-
Business1 week agoBanking services disrupted as bank employees go on nationwide strike demanding five-day work week
-
Politics1 week agoTrump vows to ‘de-escalate’ after Minneapolis shootings
-
Sports1 week agoTammy Abraham joins Aston Villa 1 day after Besiktas transfer
-
Entertainment1 week agoK-Pop star Rosé to appear in special podcast before Grammy’s
-
Tech1 week agoBrighten Your Darkest Time (of Year) With This Smart Home Upgrade