Stock prices slide for makers of Ozempic, Wegovy after Biden calls for cheaper obesity drugs

By John Lauerman, Madison Muller and Naomi Kresge

Novo Nordisk A/S and Eli Lilly & Co. shares fell Tuesday after President Joe Biden continued his push for cheaper drugs by demanding price cuts on their blockbuster weight-loss and diabetes drugs.

The companies are charging “unconscionably high prices” that are above those paid in other countries, Biden said in an editorial with Vermont Sen. Bernie Sanders published in USA Today. If “pharmaceutical companies refuse to substantially...