U.S. Senator Bernie Sanders Questions Novo Nordisk CEO on High Drug Costs for Ozempic and Wegovy
High Drug Costs Under Scrutiny
During a Senate Health Committee hearing, Senator Bernie Sanders critically examined Lars Jorgensen, the CEO of Novo Nordisk, focusing on the alarming costs of Ozempic and Wegovy, medications vital for treating diabetes and obesity.
Unequal Pricing Across Countries
Senator Sanders highlighted the exorbitant price discrepancies, noting that Ozempic is priced at $969 in the United States, which is 16 times more than the cost in Germany at $59. Meanwhile, Wegovy is offered at $1,349 in the U.S., starkly contrasting with the UK price of $92.
Insurance Coverage and Accessibility
- Jorgensen defended that 80% of insured Americans have access to Ozempic for $25 or less.
- The CEO asserted that since its launch, Ozempic's price has decreased by 40%.
- Approximately 99% of commercial plans cover Ozempic, including Medicaid.
However, Sanders contested this, demanding equality in how Americans are treated compared to those abroad.
Future Directions and Commitments
Despite the defenses presented by Jorgensen, Sanders maintains that pharmaceutical companies should lower their list prices in collaboration with pharmacy benefit managers (PBMs), promising expanded coverage for patients. Jorgensen confirmed Novo Nordisk's engagement with the Senate committee for policy solutions to lower costs impacting patients.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.