Senate Grills Novo Nordisk CEO Over High U.S. Prices for Ozempic and Wegovy
Senators demand answers on why the diabetes and weight-loss drugs cost significantly more in the U.S. compared to other countries.
- Sen. Bernie Sanders criticized Novo Nordisk for charging Americans up to 20 times more for Ozempic and Wegovy than patients in other countries.
- Novo Nordisk CEO Lars Jorgensen blamed pharmacy benefit managers (PBMs) and insurers for the high prices, stating that they set the final cost for patients.
- Sanders announced that major PBMs have pledged not to reduce coverage if Novo Nordisk lowers the list prices of the drugs.
- Jorgensen highlighted that the company has invested $30 billion to increase production capacity and reduce costs, and that 80% of insured Americans pay $25 or less for these medications.
- The hearing addressed the broader issue of drug pricing in the U.S., with calls for reforming PBM practices and potential Medicare price negotiations for these drugs.
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