Additional Coverage:
- Bernie Sanders to grill Novo Nordisk CEO on why weight-loss drugs Ozempic and Wegovy can cost up to 15 times more in US (newsbreak.com)
U.S. Senator Bernie Sanders has revealed that Novo Nordisk’s CEO, Lars Jørgensen, will discuss the steep prices of the weight-loss medications Ozempic and Wegovy before a Senate committee.
Jørgensen is set to provide testimony to the Senate Committee on Health, Education, Labor, and Pensions, known as the HELP Committee, which Sanders heads. The focus of this meeting will be the “outrageously high cost” of these drugs, as highlighted in a recent announcement.
Sanders expressed gratitude to Jørgensen for agreeing to speak at the hearing, thereby negating the need for a vote on a subpoena regarding the pricing strategies of Novo Nordisk. He voiced the general frustration over the high prices of prescription drugs in America, pointing out the significant price difference for Ozempic and Wegovy in the U.S. compared to other countries like Canada, Germany, and the United Kingdom.
According to Sanders, the price disparity is dramatic, with Ozempic costing Americans with Type 2 diabetes $969 per month, while the same drug is available for much less in Canada and Germany. Wegovy, aimed at Americans with obesity, has a monthly price tag of $1,349 in the U.S., compared to markedly lower prices in Germany and the UK.
Sanders anticipates Jørgensen’s explanation for why Americans are charged exponentially more for these drugs than citizens in other countries.
The issue of the drugs’ affordability came under scrutiny after investigations suggested that their production costs are significantly lower than their selling prices, with reports indicating the active ingredient could be produced for less than a dollar.
In response to these concerns, Novo Nordisk has stated it retains about 60% of the list price of these drugs in the U.S. after discounts and payments to intermediaries, according to Bloomberg. The company also expressed a willingness to collaborate with lawmakers on addressing these systemic pricing issues to ensure more patients can access their medications.
This call for clarity on drug pricing comes amidst warnings from health officials in the UK against using such medications for quick-fix summer body preparations without proper medical supervision, highlighting the serious risks of unsupervised medication use.