07:39:39 EST Tue 02 Dec 2025
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Novo Nordisk CDR (CAD Hedged)
Symbol NOVO
Shares Issued 50,000
Close 2025-12-01 C$ 20.47
Market Cap C$ 1,023,500
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Globe says Novo Nordisk ends talks to cover Wegovy

2025-12-02 06:47 ET - In the News

The Globe and Mail reports in its Tuesday edition that Canada's public health plans and Danish drug maker Novo Nordisk have broken off talks to cover the blockbuster weight-loss drug Wegovy. The Globe's Chris Hannay writes that pan-Canadian Pharmaceutical Alliance (pCPA), a body that represents all federal and provincial drug plans, said Monday that it had concluded negotiations with Novo Nordisk without a deal after two months because the manufacturer had declined to negotiate Wegovy's price. Wegovy is a drug prescribed for weight loss that contains the same active ingredient -- semaglutide -- as Ozempic, which is prescribed for patients with Type 2 diabetes. Novo Nordisk says that more than a million Canadians are currently taking semaglutide. Ozempic has been covered by public health plans since shortly after the pCPA successfully concluded negotiations with Novo Nordisk over the drug's price on Dec. 17, 2023. Since then, public health plans (other than Quebec) spent $667-million on semaglutide in 2024, according to the Canadian Institute for Health Information. Wegovy is a higher dose form of Ozempic and also has a higher list price. Canada's Drug Agency says Wegovy costs about $5,066 per patient per year.

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