Novo Nordisk's stock tanks as Trump threatens tariffs on imports
Novo Nordisk just took a big hit on Wall Street—its stock dropped below $50 per share after President Trump announced a new 15% tariff on European imports, including their popular diabetes and weight-loss drugs Ozempic and Wegovy.
These meds are already pricey (over $1,300 a month without insurance), and the new tariffs kick in August 7, making things even tougher for US buyers.
Novo's shares slip below $50
Adding to the stress, Trump gave drug companies 60 days to lower prices or face even higher taxes.
Novo's shares have now slipped below $50 (down from almost $150 at their peak), putting their recent gains at risk.
Meanwhile, US rival Eli Lilly—maker of Mounjaro—barely flinched in the market thanks to strong earnings, highlighting just how much pressure Novo is under right now.