The talks on drugs including Novo Nordisk's Wegovy, GSK's Trelegy Ellipta, and Pfizer's Xtandi will set Medicare prices that go into effect in 2027.

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

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.