Congressional Hearing on Health Costs Relating to Ozempic and Wegovy

Wednesday, 25 September 2024, 04:31

Health costs are under scrutiny as Congress questions Novo Nordisk CEO about the pricing of Ozempic and Wegovy. During a Senate committee meeting, CEO Lars Fruergaard Jørgensen faced tough inquiries regarding the high prices of these popular medications. He attributed the costs to pharmacy benefits managers while agreeing to discuss potential price reductions.
Healthday
Congressional Hearing on Health Costs Relating to Ozempic and Wegovy

Health Costs and Pricing Strategies

WEDNESDAY, Sept. 25, 2024 (HealthDay News) -- Health costs related to drugs like Ozempic and Wegovy were discussed during a tense Senate Committee hearing on Tuesday. Novo Nordisk CEO Lars Fruergaard Jørgensen faced tough questions from Senate members about the high prices of these popular weight loss medications.

Blame on Pharmacy Benefits Managers

While testifying, Jørgensen suggested that pharmacy benefits managers (PBMs) were a significant factor in the pricing of Ozempic and Wegovy. He noted that if these medications had a lower list price, they might not be offered by PBMs.

  • High list prices lead to larger rebates for PBMs.
  • Jørgensen agreed to engage in discussions with PBMs about lowering prices.

Senator Bernie Sanders emphasized the need for these discussions, aiming for better access to these essential medications for patients.


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