Sen. Bernie Sanders grilled Novo Nordisk's CEO Lars Jorgensen over the cost of the company's weight loss and diabetes medications, Ozempic and Wegovy.
Sen. Bernie Sanders grilled Novo Nordisk CEO Lars Jorgensen during a Tuesday Senate hearing regarding the cost of its weight-loss drugs in the U.S. In opening remarks before the Senate Health, Education, Labor and Pensions Committee, Sanders argued that Novo's Ozempic costs over 15 times more in the U.S. than in Germany and that Wegovy is nearly 15 times more expensive in the U.S. compared to the U.K.
Jorgensen said after the company dropped the list price by 65%, PBMs dropped coverage of the product. The drug went from being on 90% of insurance plans to about 35%. Sanders argued that he received written commitments from the major PBMs that if "Novo Nordisk, substantially reduced the list for Ozempic and Wegovy, they would not limit coverage. In fact, all of them told me they would be able to expand coverage for these drugs if the list price was reduced.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sanders Calls BS on Novo Nordisk Excuses for Sky-High Prices of Ozempic, WegovyJake Johnson is a senior editor and staff writer for Common Dreams.
Read more »
Novo Nordisk CEO Defends Ozempic Price In Senate TestimonyTy Roush is a New York City-based breaking news reporter who frequently covers Russia’s invasion of Ukraine, the automotive industry and sports money. He joined Forbes in 2022 and has covered Exxon acquiring Pioneer for nearly $60 billion, a mysterious respiratory illness affecting dogs across the U.S.
Read more »
Ozempic maker Novo Nordisk testifies before Senate committee on weight loss drug pricesNovo Nordisk CEO Lars Fruergaard Jørgensen testified before the Senate Health, Education, Labor and Pension committee on Tuesday.
Read more »
Novo Nordisk CEO Claims High Drug Prices Due to US Healthcare SystemNovo Nordisk CEO Lars Fruergaard Jørgensen faced questioning on Capitol Hill over the high cost of the company's weight-loss drugs, Ozempic and Wegovy. Jørgensen claimed the high prices were due to complications of the U.S. healthcare system.
Read more »
Novo Nordisk CEO Faces Tough Questions on Drug PricesThe chief executive of Novo Nordisk, Lars Fruergaard Jørgensen, is scheduled to face scrutiny from Senator Bernie Sanders and the Senate Finance Committee on Tuesday regarding the high costs of the company’s popular weight-loss drugs, Ozempic and Wegovy.
Read more »
Novo Nordisk CEO testifies at Senate hearing over high weight loss drug pricesSen. Bernie Sanders argues that Novo Nordisk charges Americans substantially higher prices for its drugs than it does for patients in other countries.
Read more »