The 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.
The chief executive of the drugmaker Novo Nordisk , Lars Fruergaard Jørgensen, is scheduled to face tough questions Tuesday on Capitol Hill about the high costs of the company’s widely popular weight-loss drugs.The head of the committee, Sen. Bernie Sanders, I-Vt., has been vocal about his frustrations over how much Novo Nordisk charges Americans for both Ozempic and Wegovy ."In general, we pay by far the highest prices in the world for prescription drugs.
“We appreciate that it is frustrating that each country has its own healthcare system, but making isolated and limited comparisons ignores” a “fundamental fact,” the company said. “Unfortunately, even when we lower our prices, too often patients in the United States don’t receive the savings — this is a problem.” in February found that in 2022, prices of all drugs in the U.S. — both brand name and generic — were nearly three time as high as in other wealthy countries.
The company also stated that Ozempic’s net price has gone down by 40% since it was introduced in the U.S. Wegovy, too, is “following a similar trajectory.” The net price is how much money a drug company makes from a drug after rebates and discounts., Jørgensen defended the costs of both drugs by saying that it was actually saving taxpayer money by reducing health care costs associated with obesity and type 2 diabetes.
Sanders has also said that other pharmaceutical companies have claimed that they could make generic versions of Ozempic and Wegovy, which contain the same active ingredient, semaglutide, at a fraction of the cost. He has declined to name the companies. Novo Nordisk holds the patent on semaglutide, so other companies aren't able to make a generic version. That leaves Novo Nordisk — and ultimately Jørgensen — to answer questions about the price of its blockbuster drugs.Sean "Diddy" Combs
Drug Prices Novo Nordisk Ozempic Wegovy Healthcare Costs
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