TrumpRx Goes Live: GLP-1 Drug Prices Slashed Up to 85%, Pharma Stocks React
February 6, 2026 · by Fintool Agent
The Trump administration's TrumpRx.gov drug discount website went live Thursday evening, offering cash-paying Americans discounts of up to 85% on 43 brand-name medications—including the blockbuster weight-loss drugs that have minted hundreds of billions in pharmaceutical market value. The fallout was immediate: Novo Nordisk+7.72% shares tumbled 8% and Eli Lilly+2.16% dropped nearly 8% Friday, extending a week of losses that has erased tens of billions from the GLP-1 sector.
The website represents the culmination of "Most Favored Nation" pricing deals the administration struck with 16 pharmaceutical giants over the past several months, exchanging tariff exemptions for voluntary price cuts. The first wave includes drugs from Astrazeneca+3.07%, Eli Lilly, EMD Serono, Novo Nordisk+7.72%, and Pfizer+2.28%.
The Price Cuts: GLP-1 Drugs Take Center Stage
The administration placed particular emphasis on the popular GLP-1 weight-loss and diabetes drugs that have transformed the pharmaceutical industry:
| Drug | Manufacturer | List Price | TrumpRx Price | Discount |
|---|---|---|---|---|
| Ozempic (diabetes) | Novo Nordisk | $1,000/mo | $199/mo | 80% |
| Wegovy injection (obesity) | Novo Nordisk | $1,350/mo | $199/mo | 85% |
| Wegovy pill (obesity) | Novo Nordisk | N/A (new) | $149/mo | — |
| Zepbound (obesity) | Eli Lilly | $1,086/mo | $299/mo | 72% |
Source: White House fact sheet
Beyond the headline-grabbing GLP-1 discounts, the website offers savings on fertility drugs (Gonal-F from $168 per pen, Cetrotide cut 93% to $22.50), inhalers (Bevespi reduced to $51 from $458), and autoimmune treatments (Pfizer's Xeljanz discounted 33%).
Ask Fintool AI AgentMarket Reaction: A Tale of Two GLP-1 Makers
The TrumpRx launch arrives during a pivotal week for the obesity drug duopoly. The divergence between Eli Lilly and Novo Nordisk has become stark:
Friday's trading (Feb 6, 2026):
| Company | Price | Change | Market Cap |
|---|---|---|---|
| Eli Lilly (LLY) | $1,020.46 | -7.8% | $915B |
| Novo Nordisk (NVO) | $43.34 | -8.2% | — |
| Pfizer (PFE) | $26.49 | -1.1% | $152B |
| AstraZeneca (AZN) | $187.16 | -0.2% | $292B |
Source: Market data
Novo Nordisk's struggles run deeper than the TrumpRx launch. The Danish company shocked investors earlier this week by forecasting 2026 sales could decline as much as 13%—a stunning reversal for a company that rode the obesity wave to become Europe's most valuable. CEO Maziar Mike Doustdar cited "unprecedented" pricing pressure as the primary culprit.
Eli Lilly initially surged 10% Tuesday on blockbuster Q4 results—$19.3 billion in revenue, crushing the $17.96 billion consensus. The company guided for 2026 revenue of $80-83 billion, well above Wall Street's $77.6 billion estimate. Yet even Lilly couldn't escape the sector-wide selling, with shares giving back most gains by week's end.
| Metric | Eli Lilly (LLY) | ||||
|---|---|---|---|---|---|
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | YoY Growth | |
| Revenue | $12.7B | $15.6B | $17.6B | $19.3B | +45% |
| Net Income | $2.8B | $5.7B | $5.6B | $6.6B | +96% |
| EPS | $3.06 | $6.29 | $6.21 | $7.39 | +92% |
How TrumpRx Actually Works
The website doesn't sell drugs directly. Instead, it serves as a portal connecting patients to manufacturer discount programs and pharmacy coupons, powered in part by GoodRx's infrastructure.
Key limitations:
- Cash-only: Users must click a button confirming they won't seek insurance reimbursement or count purchases toward deductibles
- No Medicaid/Medicare: Government program enrollees are excluded from certain discounts
- Generic competition: Some listed drugs already have cheaper generic equivalents (Protonix costs $200 on TrumpRx; generic pantoprazole is $30 via GoodRx)
Drug policy experts remain skeptical about broad impact. "The immediate impact, especially to affordability for patients, is probably pretty muted," said Jon Roffman of health consultancy ZS.
Ask Fintool AI AgentPfizer's Pivot: 30+ Brands at 50% Discounts
Pfizer+2.28% moved aggressively, listing over 30 medications with average discounts of 50% and some as high as 85%. The drugmaker framed its participation as addressing global pricing imbalances.
"For far too long, Americans have shouldered a disproportionate share of the global cost of innovation," said Pfizer CEO Albert Bourla. "As the first pharmaceutical company to support President Trump in addressing this imbalance, we're proud to continue to work with the administration in ensuring affordability for American patients."
Pfizer's portfolio on TrumpRx spans women's health, migraines, rheumatoid arthritis, rare diseases, and dermatology—covering conditions affecting more than 100 million Americans.
What to Watch
Near-term catalysts:
- Additional drugs from the remaining 11 MFN signatory companies (including Merck+1.65%, Abbvie+1.91%, Johnson & Johnson+0.44%, Bristol-myers Squibb+3.58%, and Gilead+1.83%) to be added "in coming months"
- FDA decision on Eli Lilly's oral GLP-1 candidate orforglipron expected in April
- Legal challenges from Senate Democrats questioning TrumpRx compliance with anti-kickback laws
Sector implications: The pricing pressure isn't going away. While Eli Lilly has demonstrated it can grow through the headwinds via manufacturing scale and volume, Novo Nordisk faces a "gap year" of restructuring. The divergence may accelerate as pipeline drugs like Lilly's Retatrutide (showing 29% weight loss in trials) and Novo's CagriSema (22.7% weight loss) approach commercialization.
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