The Biden administration announced Friday that Ozempic, Wegovy and 13 additional drugs will now be covered under Medicare Part-D for price negotiations, the next round of negotiations under the Inflation Reduction Act passed by President Joe Biden in 2022.

Federal officials are targeting the blockbuster drugs as part of their ongoing initiative to lower drug costs.

On its last weekday in power, the Biden Administration has chosen the next batch of drugs up for price negotiation in Medicare.

Novo Nordisk's blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy are among the 15 drugs targeted for Medicare price negotiations for 2027, the U.S. government said on Friday, part of a law pharmaceutical companies have pledged to revisit with the Trump administration.

The Biden administration released another list of prescriptions drugs that would be subject to price controls. The price controls for the selected drugs will become effective in 2027.