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Novo Nordisk shares fell on Friday after Donald Trump vowed to sharply lower the price of its popular weight loss drug Ozempic as part of the US president’s drive to cut the price of medicines in America.

Speaking at a press conference on Thursday, Trump said Ozempic’s price would be “much lower” once his administration had concluded negotiations with Novo Nordisk, the Danish group that pioneered obesity drugs.

Trump suggested the price of the drug could fall to as low as $150. Novo Nordisk halved the US price of Ozempic for people who cannot access it with health insurance to $499 earlier this year.

Shares in the Danish pharma group fell 5 per cent in early trading in Copenhagen on Friday. Shares in US pharma group Eli Lilly, its major rival in the obesity market, dropped 5 per cent in after-hours trading in New York.

US patients have historically paid much higher prices for drugs than their peers in other industrialised countries. Since returning to the White House, Trump has pushed drugmakers to lower prices for American consumers, threatening import tariffs if they do not agree.

He has complained that anti-obesity drugs are available in the UK at a fraction of their cost in the US, where branded medicines are on average two to three times more expensive than they are in Europe.

Last month, Pfizer reached a deal with the Trump administration to lower the prices of some drugs. Eli Lilly has been widely expected to reach a deal with the White House but has yet to do so.

Speaking alongside Trump at an event announcing a deal to lower costs of IVF treatment, Mehmet Oz, the head of the Centers for Medicare & Medicaid Services, said negotiations with Novo Nordisk were ongoing.

“We have not negotiated those yet . . . the President will be happy with the results, and until he is we are not going to close those negotiations,” he said.

Novo said it had “engaged in discussions” with the White House and remained “focused on improving patient access and affordability”.

Eli Lilly has been contacted for comment.

This September, Carlsberg Asia and Grab marked the second year of their partnership – a collaboration that is transforming how consumers across Southeast Asia enjoy beer responsibly

Launched in late 2024, the partnership connects Carlsberg’s premium beer experiences with Grab’s vast digital ecosystem, from mobility and food delivery to dine-out offers, embedding responsible drinking messages into everyday moments.

This strategic partnership has already yielded significant results. From January to August 2025, there has been a 37% increase in average new Carlsberg consumers per month within the Grab ecosystem (vs. same period in 2024), 22% year-on-year growth in user numbers and average uplift of 49% in Carlsberg sales, marking a 35% year-on-year increase in overall sales.

Anchored in Carlsberg’s long-standing partnership with Liverpool F.C., the longest-running partnership in Premier League history since 1992, the collaboration has turned key football occasions into moments that combine celebration and moderation. In Singapore, the campaign culminated in September with the ‘Champion EPL Season with Carlsberg’ event, featuring Liverpool legend Robbie Fowler. Fowler toured Grab’s headquarters, rode through Orchard Road and the Civic District on an open-top bus, and met with fans, media, and VIP guests, celebrating the partnership’s success and reinforcing the message of responsible enjoyment.

Events across Malaysia, Cambodia, Myanmar, and Singapore brought fans together both online and offline, while in-app activations on Grab offered prizes like match tickets, retro jerseys, and ride discounts promoting safe mobility.

Following these successes, the next phase of the campaign will roll out in Vietnam later in 2025.

“Our partnership with Grab is a powerful expression of Carlsberg’s Accelerate SAIL strategy in action,” says Arindam Varanasi, Commercial VP, Carlsberg Asia. “By combining Carlsberg’s brand strength with Grab’s reach, we’re shaping a culture where enjoyment and mindful consumption go hand in hand.”

Through Grab’s ecosystem, including GrabFood, GrabMart, Dine Out, and mobility services, Carlsberg can reach consumers across multiple occasions, linking celebration with safety and convenience.

The partnership will continue to expand in Vietnam and beyond later this year, building on its success to make responsible drinking a natural part of how people connect, celebrate, and enjoy life across Asia.