Novo Nordisk edges down on weight-loss pricing deal in U.S.

Shares in Novo Nordisk NOVOb.CO slip about 2% after the Danish drugmaker and its rival Eli Lilly LLY.N struck a pricing deal with U.S. President Donald Trump to slash weight-loss drug prices

TD Cowen says the deal is overall "probably more negative for Novo Nordisk than not", although it remains uncertain

It adds that the price cuts represent a near-term challenge on top of competitive pressure for the drugmaker, but medium-to-long-term may boost volumes

This could be especially true if Medicare keeps covering GLP-1 drugs, private insurers broaden or loosen coverage at better prices, and lower out-of-pocket costs help patients stay on treatment, TD Cowen says