Novo Nordisk's diabetes treatment, Ozempic, may soon enter price negotiations with Medicare, potentially leading to price adjustments in 2027. The drug, which saw Medicare Part D spend over $2 billion on it in 2021, is likely to be a key contender in these negotiations. Novo Nordisk's Rybelsus may also be included in the negotiation list. However, the company's obesity injection, Wegovy, is less likely to be subject to negotiations due to Medicare's exclusion of weight loss drugs from its coverage.