U.S. Medicare price cuts of up to 85% will have a lesser impact on drugmakers than initially feared, with most of the hit already reflected in forecasts, Wall Street analysts said. Shares of Danish drugmaker Novo Nordisk and Israel-based Teva Pharmaceuticals rose 5% and 3% respectively after the U.

A report breaks down the Trump administration’s push for lower Medicare drug prices while lawmakers clash over whether to extend COVID-era insurance subsidies set to expire January 1.