Wegovy and Ozempic: Government Oversight on Prescription Drug Prices
Government Involvement in Prescription Drug Pricing
The rising costs of Wegovy and Ozempic have sparked a crucial discussion about whether the government should have a role in setting drug prices. As insulin prices are capped at $35 for Medicare recipients, the debate extends to the broader implications for all prescription medications.
High Costs Spark National Debate
The CEO of Novo Nordisk, the producer of these high-demand medications, is set to testify before the Senate Health Committee this week. As the price of Ozempic reaches as high as $969 per month in the US, yet only $59 in Germany, the disparity raises serious questions about pharmaceutical pricing strategies. Similarly, Wegovy costs $1,349 in the US as opposed to $140 in Germany.
- Current law caps insulin prices at $35/month
- Beginning in 2026, Medicare will negotiate select drug prices
As public concern about prescription drug affordability mounts, lawmakers are under pressure to seek viable solutions that address these critical health issues.
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