Wegovy is a GLP-1 agonist containing semaglutide, the same active ingredient as Ozempic. While both medications share this ingredient, they are approved for different purposes. Ozempic is primarily used for managing type 2 diabetes, whereas Wegovy is specifically approved for weight loss.

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

The Biden administration said Medicare will negotiate discounts with drug companies on 15 drugs prescribed to treat cancer, diabetes and asthma.