Novo Nordisk CEO Lars Fruergaard Jørgensen spoke in an interview in New York on August 17. October 2022.
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Novo Nordiskof top executives will face Senate torture Prices for the company’s weight-loss drug Wegovy and diabetes treatment Ozempic remained high on Tuesday as U.S. demand for the two injections surged
Novo Nordisk CEO Lars Fruergaard Jørgensen to testify before Senate Health, Education, Labor and Pensions Committee hearing 10 a.m. ET Tuesday in Washington, D.C. Nearly five months ago, Sen. Bernie Sanders, the Vermont independent who chairs the Senate panel, launched an investigation into the Danish drugmaker’s pricing practices.
Sanders claimed that Novo Nordisk charges Americans much higher prices for its blockbuster drugs than it charges patients in other countries. Before insurance, Ozempic cost almost $969 per month The cost is about the same as Wegovy $1,350 per month in the united states
At the same time, according to information released by the FDA, in some European countries, the cost of a one-month supply of these two treatments can be as low as less than $100. committee. Ozempic costs just $59 in Germany, while Wegovy costs $92 in the UK
Sanders also said last week that CEOs of major generic drug companies told him they could sell a version of Ozempic for $10. Less than $100 per month to make a profit. There are currently no generic alternatives to Ozempic available in the United States
Slimming syringes under the brands “Wegovy”, “Ozempic” and “Mounjaro” are sold at In der Achat Apotheke in Mitte, Germany.
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Sanders and other lawmakers, health expert Insurers warn of rising demand for Novo Nordisk’s drug and similar weight loss and diabetes treatments from rivals Eli Lilly and Company Can Could bankrupt the U.S. health care system Unless prices drop.
Both drugmakers make GLP-1, which mimics a hormone produced in the gut to suppress people’s appetite and regulate blood sugar. Eli Lilly’s weight-loss injection Zepbound and diabetes drug Mounjaro cost about $1,000 a month before insurance and other rebates.
The Senate Health Committee said in a news release that if half of Americans took diet pills from Novo Nordisk and Eli Lilly and Company, it would cost $411 billion a year. That’s $5 billion more than Americans will spend on all prescription drugs in 2022.
health insurance spending Ozempic $4.6 billion According to the health policy research organization KFF, this will happen in 2022 alone.
Other insurance companies and employers have implemented strict requirements to control the cost of weight loss drugs or waived coverage of these treatments entirely. Many health plans cover GLP-1 for treating diabetes but not for weight loss. Medicare does not pay for weight loss treatment unless the weight loss treatment is approved and prescribed for another health condition.
The hearing comes as the Biden administration and lawmakers from both parties try to rein in U.S. health care costs, in part by putting pressure on people Pharmaceutical industry and drug supply chain intermediaries. Americans pay on average two to three times more for prescription drugs than patients in other developed countries, according to one survey. Overview From the White House.
Notably, Ozempic could be affected by the next round of price negotiations between manufacturers and Medicare, a key provision of President Biden’s inflation-cutting bill aimed at lowering costs for seniors. Wall Street analysts say Ozempic may be eligible for negotiations by 2025 when the next round of drugs is selected, with price adjustments set to take effect in 2027.
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