Pharmaceutical stocks slipped this week after public remarks reignited debate around drug pricing. Shares of leading drugmakers, including Novo Nordisk and Eli Lilly, tumbled following comments from former President Donald Trump suggesting that blockbuster treatments like Ozempic could be sold “much cheaper.” The statement immediately rattled the healthcare sector, with investors interpreting it as a sign of renewed political focus on price regulation. Novo Nordisk responded by reinforcing its commitment to affordability and transparency while quietly expanding its U.S. public affairs team to navigate potential policy shifts.

The selloff underscores the vulnerability of pharma valuations to public sentiment and regulatory scrutiny. For companies that have long enjoyed pricing power, the risk of government intervention or social backlash could reshape growth forecasts. With obesity and diabetes drugs driving a large share of market capitalization, any change in pricing structures could ripple across the broader biotech landscape.