Novo Nordisk (NYSE:NOV) chief executive Mike Doustdar said Monday that the company’s newly announced agreement with the White House—aimed at lowering the cost of its leading weight-loss medicines—is intended to widen access through the U.S. Medicare system.
“It would be a pity if this molecule (semaglutide) is only being used by the upper class and the rich,” Doustdar remarked during an appearance at an event hosted by the Danish Shareholder’s Association.
He added that “the deal is in a nutshell about reducing the price but also opening up access to Medicare,” referring to the federal insurance program for seniors and certain individuals with disabilities.
Doustdar acknowledged that Novo Nordisk has “a fantastic pipeline,” but also cautioned that “no pipeline is perfect when you’re trying to treat a billion people.”
He said the company’s strategy should not revolve solely around competing with Eli Lilly, stressing instead the need to grow the overall market for obesity drugs. He also noted that people using obesity therapies tend to switch treatments more often than patients taking insulin.
Commenting on U.S. demand trends, Doustdar said that “the volume upgrade in the U.S. comes slower than the price decline.”
On product supply, he offered reassurance: “We have more than enough stock of Wegovy pills,” and confirmed that the company intends to go “all in” on the pill version’s rollout.
Doustdar also said Novo Nordisk plans to host a capital markets day in mid-2026.