US Senator Bernie Sanders Challenges Novo Nordisk on Ozempic and Wegovy Prices

Senator Sanders Grills Novo Nordisk on Drug Pricing

During a Senate Health Committee hearing, U.S. Senator Bernie Sanders closely questioned CEO Lars Jorgensen of Novo Nordisk regarding the inflated costs of Ozempic and Wegovy medications crucial for treating diabetes and obesity.

Exorbitant Prices

Senator Sanders accused the company of crippling Americans with high prices, stating that while Ozempic costs a staggering $969 in the U.S., it is only $59 in Germany—an outrageous markup of 16 times. Similarly, Wegovy is priced at $1,349 in America, compared to $92 in the U.K., approximating a 15-fold increase. Sanders asserted, “If not made affordable, Americans throughout this country will needlessly die and suffer.”

Insurance Coverage and Defenses

• Jorgensen defended his company's pricing, stating that the initial cost of Ozempic has already decreased by 40% since its launch.
• According to Jorgensen, 99% of commercial insurance plans, including Medicare and Medicaid, cover the drug.
• He noted that 80% of insured Americans access Ozempic for $25 or less monthly.

External Factors Affecting Pricing

According to the Peterson-KFF Health Tracker System, rising prices are attributed to inflation and increased demand for weight loss and specialty drugs.

However, Sanders highlighted that he has received commitments from pharmacy benefit managers (PBMs) to broaden coverage if Novo Nordisk reduces its prices. Notably, approximately 72% of Novo Nordisk’s revenues come from the U.S., a fact that underlines the urgency of the pricing issue.

Future Engagements

Jorgensen pledged ongoing collaboration with the committee to address the structural issues heightening drug costs. This statement underscores the ongoing dialogue between pharmaceutical companies and lawmakers surrounding drug pricing and patient access.