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

This news of Ozempic price cuts comes on the heels, or tablet, of Novo Nordisk developing a weight loss pill that mirrors the effects of Ozempic. According to new trial results, the pharmaceutical company says Amycretin can cause weight loss of up to 13% in three months.

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.