GLP-1 receptor agonists — the class of drugs that includes Ozempic, Wegovy, Mounjaro, and Zepbound — are among the most prescribed and most expensive medications in America. With millions of patients on these drugs for diabetes and weight loss, the question of how the 2026 pharmaceutical tariff affects them is urgent.
The good news: the two main manufacturers, Novo Nordisk and Eli Lilly, both signed MFN deals as Annex III companies. Their drugs pay 0% tariff.
Novo Nordisk Drugs (0% — MFN Deal)
Novo Nordisk is one of the 13 Annex III companies with a Most Favored Nation agreement. All of their brand-name drugs pay 0% tariff effective July 31, 2026. That covers:
- Ozempic (semaglutide injection, diabetes)
- Wegovy (semaglutide injection, weight loss)
- Victoza (liraglutide, diabetes)
- Saxenda (liraglutide, weight loss)
- Rybelsus (oral semaglutide, diabetes)
- Tresiba (insulin degludec)
- NovoLog / NovoRapid (insulin aspart)
- Levemir (insulin detemir)
These drugs will not see a tariff-driven price increase under the Section 232 proclamation. The MFN deal also obligates Novo Nordisk to offer Americans their lowest global prices — which theoretically means some prices should go down, not up.
Eli Lilly Drugs (0% — MFN Deal)
Eli Lilly is also an Annex III company, covering:
- Mounjaro (tirzepatide, diabetes)
- Zepbound (tirzepatide, weight loss)
- Trulicity (dulaglutide, diabetes)
- Jardiance (empagliflozin — co-developed with Boehringer Ingelheim, also Annex III)
- Verzenio (abemaciclib, cancer)
- Taltz (ixekizumab, autoimmune)
Eli Lilly's effective date under the MFN deal is also July 31, 2026 — same as other Annex III companies.
What About Generic Semaglutide?
No FDA-approved generic for semaglutide currently exists. Ozempic and Wegovy are under patent protection. When those patents eventually expire, generic versions would be fully exempt from any tariff — but that is not a near-term scenario.
However, compounded semaglutide (produced by licensed compounding pharmacies) has been available during shortage periods. Compounded drugs have a different regulatory status and their tariff treatment depends on whether they're classified as patented pharmaceutical products — an area to watch.
What About Insulin?
Insulin is a separate but related story. Many insulin products are classified as biologics, not traditional small-molecule drugs. Several insulins are produced by Novo Nordisk (0% MFN deal) and Eli Lilly (0% MFN deal), which covers NovoLog, Tresiba, Humalog, and Basaglar.
Notably, insulin — even brand-name insulin — has seen significant legislative price caps under recent US drug pricing laws. The tariff's interaction with existing price caps adds complexity, but the MFN deals cover the major insulin manufacturers.
The Bottom Line for GLP-1 Patients
If you are taking Ozempic, Wegovy, Mounjaro, or Zepbound, your manufacturer has a 0% MFN deal. You are not at risk of a tariff-driven price increase. The risk for GLP-1 patients is not the tariff — it is ongoing access and insurance coverage issues that predate the tariff entirely.
Use the drug search tool to confirm your specific GLP-1 medication's status, and check the MFN deal tracker for the full list of protected companies.