Novo Nordisk announced it will cut U.S. list prices for Wegovy, Ozempic and related GLP‑1 products by as much as 50% starting in 2027, targeting patients with high deductibles and copays. The pricing move follows mounting competitive pressure and public scrutiny of obesity drug costs. The announcement arrived alongside clinical updates: Novo also released midstage data showing near‑20% weight loss for its triple‑G agonist, even as its next‑generation combo CagriSema failed to demonstrate non‑inferiority to Eli Lilly’s tirzepatide (Zepbound) in a head‑to‑head study. The CagriSema miss has strained Novo’s market position, prompting aggressive commercial and pricing responses. Investors and payers will watch whether list‑price reductions reshape access dynamics and how clinical differentiation—or the lack of it—affects market share between the two leading obesity players.