Novo Nordisk Hires US Pharma Veteran After Trump Touts ‘Much Lower’ Prices Of Ozempic
Synopsis
Greg Miley stated that he will join Novo Nordisk next month as the company’s senior vice president of corporate affairs.
Novo Nordisk AS (NVO) on Friday hired U.S. pharmaceutical industry veteran Greg Miley as its senior vice president of corporate affairs, amid growing pressure from President Donald Trump over the pricing of its drugs in the United States.
“This opportunity comes at a pivotal moment for the company, and I am eager to get started and contribute to our mission of improving the lives of people living with chronic diseases,” Miley said in a post on LinkedIn, adding that he will be joining Novo Nordisk next month.
Miley currently serves as senior vice president of government affairs at U.S. pharmaceutical company AbbVie Inc. (ABBV).
Miley’s appointment comes after President Trump said during a White House event on Thursday that the prices of Novo Nordisk’s diabetes drug, Ozempic, will be “much lower.” He added that under his administration’s plans, the prices of Ozempic could be brought down to just $150 a month, from its current list price of $1,000 for a month’s supply.
Novo Nordisk shares were down more than 4% in Friday morning’s trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.
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