Nov. 4, 2025, 4:10 PM ESTBy Berkeley Lovelace Jr.The Trump administration is expected to announce, as early as this week, a deal with drugmakers Eli Lilly and Novo Nordisk to lower the price of their weight loss drugs in exchange for limited Medicare coverage, according to two people familiar with the plan. The deal would reduce the cost of the lowest doses of the blockbuster GLP-1 medications — Lilly’s Zepbound and Novo Nordisk’s Wegovy — to $149 a month, the people said. In return, Medicare would cover the drugs for some Medicare beneficiaries. It’s not yet clear whether the $149 price would apply broadly across private and public insurance, or only for people paying in cash. It wasn’t immediately clear which Medicare patients would qualify for coverage. The details of the plan could still change. The people confirmed the possible deal on the condition of anonymity because they were not authorized to speak publicly. The news was first reported by Endpoint News. The Washington Post reported the deal could be announced as early as Thursday. White House spokesperson Kush Desai said in a statement, “Discussion about deals that have not been officially announced by the Administration should be regarded as speculation.” In emailed statements, spokespeople for Lilly and Novo Nordisk confirmed they are in discussions with the Trump administration, but offered no details on any potential deal.If finalized, it would be the most significant agreement to emerge from President Donald Trump’s efforts to lower prescription drug prices to align more closely with other developed nations — also known as his “most favored nation” drug pricing push. Trump revived the initiative through an executive order in May after unsuccessfully pursuing it during his first term. The administration has also reached agreements with Pfizer and AstraZeneca to lower costs for some prescription drugs under Medicaid.In October, Trump said the administration was close to a deal to lower the cost of weight loss drugs.”Instead of $1,300, you’ll be paying about $150,” he said from the White House. Zepbound and Wegovy currently carry list prices above $1,000 a month — although both companies have rolled out lower cost options for people paying in cash amid intense public scrutiny over the high cost of the drugs. Costco recently announced that it would sell Wegovy and its diabetes drug Ozempic for $499 to people without insurance; Lilly announced a similar deal with Walmart for Zepbound. Medicare currently covers Wegovy for patients at risk of heart disease, as well as Zepbound for sleep apnea — but not for weight loss alone. Ozempic, which has the same active ingredient as Wegovy, is covered for diabetes.The Biden administration proposed expanding coverage of GLP-1 drugs through Medicare and Medicaid but the Trump administration later rejected the plan. Ozempic and Wegovy are also included in the next round of Medicare drug price negotiations under the Inflation Reduction Act, which former President Joe Biden signed into law in 2022. The Trump administration was expected to finalize new prices for 15 drugs — including the GLP-1s — by Nov. 1. Trump officials have signaled less enthusiasm for the negotiations, instead focusing on executive orders and voluntary pricing agreements with drugmakers. The administration is expected to unveil the new prices by Nov. 30. Berkeley Lovelace Jr.Berkeley Lovelace Jr. is a health and medical reporter for NBC News. He covers the Food and Drug Administration, with a special focus on Covid vaccines, prescription drug pricing and health care. He previously covered the biotech and pharmaceutical industry with CNBC.