Get the skinny on this. Novo Nordisk, the Danish pharmaceutical company that manufactures Ozempic, said that it is “very likely” the cost of the popular diabetes-turned-weight loss drug will be cut in the second round of Medicare drug price negotiations.

President Joe Biden’s Inflation Reduction Act allows Medicare to negotiate costly drug prices with pharmaceutical companies.

Ozempic, the blockbuster diabetes shot made by Novo Nordisk A/S, is “very likely” to be one of the next drugs targeted for a price cut in bargaining with the US government’s Medicare program, a company executive said.