Novo Nordisk CEO on GLP-1 pricing and industry outlook at JPM conference

Novo Nordisk CEO Mike Doustdar said 2026 "will be the year of price pressure" after the company’s U.S. pricing deal and the arrival of cheaper generics, and he expects to expand the incretin market with both new oral and injectable Wegovy products; other executives at the JPMorgan Healthcare Conference described a cautiously optimistic outlook for 2026.

It's day three of the annual JPMorgan Healthcare Conference in San Francisco, where biotech and pharma leaders, investors and analysts have gathered. The sector is showing cautious optimism for 2026 amid easing rate and tariff pressures and advancing clinical programs. In a Monday interview, Novo Nordisk CEO Mike Doustdar said the company’s new oral Wegovy and its injectable counterpart should expand the incretin market next year. He also said 2026 "will be the year of price pressure" after Novo Nordisk’s U.S. pricing deal and the introduction of cheaper generics, and that the company plans to pursue volume growth and business development. Key points: - Mike Doustdar said Novo Nordisk’s oral Wegovy pill and its injectable version will help expand the incretin market in 2026. - Doustdar described 2026 as "the year of price pressure" following a U.S. pricing deal announced with the administration and the arrival of lower‑cost generics in some markets, and said volume growth will be used to offset price declines. - Doustdar said Novo Nordisk will continue business development efforts to complement its pipeline; the remarks followed the company’s loss in a prior bidding contest for the obesity biotech Metsera. - Bristol Myers Squibb CEO Chris Boerner said the company could deliver up to 10 new products by the end of the decade and flagged 11 late‑stage program readouts in 2026 across six potential products, including trials in Alzheimer’s psychosis for Cobenfy under the Adept program. - Pfizer CEO Albert Bourla said Pfizer is "all in on obesity" after its roughly $10 billion acquisition of Metsera and plans to launch multiple late‑stage obesity studies this year; he also noted a sizable out‑of‑pocket market for obesity treatments. Summary: Executives at the JPMorgan Healthcare Conference framed 2026 as a year shaped by pricing dynamics, pipeline readouts and clinical programs. Novo Nordisk expects price pressure in some markets and intends to pursue volume growth and business development; Bristol Myers Squibb and Pfizer highlighted multiple late‑stage readouts and studies planned for the year. Market and clinical developments cited by these companies will influence their commercial and development activity in 2026.