Novo Nordisk (NVO  ) CEO Mike Doustdar said the company aims to reach about 15 million new patients when Medicare begins covering obesity treatments later this year. While roughly 67 million Americans are on Medicare, he noted that around 15 million fall within the "target group" for the Danish drugmaker's products. Doustdar, in an interview with CNBC on Wednesday, said Medicare coverage and the rollout of Novo's new obesity pill, among other factors, are expected to increase prescription volumes gradually and help offset lower U.S. prices following the company's agreement with President Donald Trump.

However, the CEO said that the Medicare coverage for obesity treatments is unlikely to expand quickly, noting that expecting rapid access would be unrealistic. Doustdar pointed to the slow uptake among commercially insured eligible patients as a sign that adoption will likely take time.

He also said that the company is currently negotiating with the government to finalize the exact timing for the opening, including the specific month and week.

GLP-1 Price Cuts, Medicare Expansion

In November, Trump announced agreements with Eli Lilly (LLY  ) and Novo Nordisk to significantly lower prices of their GLP-1 obesity and diabetes drugs.

On the newly launched TrumpRx website, Wegovy pills are listed at $149, roughly an 89% discount to prevailing market prices, while Wegovy and Ozempic pens start at $199 each. Meanwhile, Eli Lilly's Zepbound is priced from $299 per vial, reflecting an estimated 72% discount.

The deals will also expand Medicare and Medicaid coverage for the treatments starting in mid-2026. Previous reports suggested that Medicare will begin covering approved injectable and oral GLP-1 obesity treatments for the first time, with patients required to pay a $50 copay.

Novo Faces GLP-1 Pressure, As Lilly Surges

Novo is facing mounting pressure to regain market share in the fast-growing GLP-1 market amid competition from Eli Lilly and lower-cost compounded alternatives. On Monday, Novo sued Hims & Hers (HIMS  ), for mass marketing cheaper, unapproved copies of its new Wegovy obesity pill and injections in the U.S.

The company also issued weak guidance for its 2026 sales and operating profit. The sales outlook is being pressured by lower realized prices, including effects from the U.S. "Most Favoured Nations" agreement, patent expirations for semaglutide in some international markets, and rising competition.

On the other hand, Eli Lilly expects revenue of $80-$83 billion, surpassing Wall Street's $77.62 billion forecast, with the midpoint implying 25% growth.

When asked how Novo plans to narrow the gap, Doustdar said one approach is "to do better on the pill."

Price Action: Over the past year, Novo Nordisk stock declined 40.41%, as per data from Benzinga Pro. On Wednesday, the stock fell 0.77% to close at $48.74.