Sen. Bernie Sanders is taking aim at the high prices of the blockbuster drugs Ozempic and Wegovy.
The Vermont senator, an independent who has long called out drug manufacturers for their costly products, is launching an investigation into the “outrageously high prices” Novo Nordisk charges for the drugs.
“The scientists at Novo Nordisk deserve great credit for developing these drugs that have the potential to be a game changer for millions of Americans struggling with type 2 diabetes and obesity.
Both are injectable drugs that use the active ingredient semaglutide, one of a class of medications called GLP-1 receptor agonists.
Novo Nordisk increased the list price for Ozempic by 3.5% this year to $969 for a four-week supply but kept the price of Wegovy unchanged at $1,349.
Novo Nordisk agrees with Sanders that access to the medications is important for patients, the company said in a statement.
“It’s easy to oversimplify the science that goes into understanding disease and developing and producing new treatments, as well as the intricacies of U.S. and global healthcare systems,” Novo Nordisk said.
In addition, many drug manufacturers, including Novo Nordisk, offer savings cards and patient assistance programs that can reduce certain people’s out-of-pocket costs.
Mr. Bernie Sanders is criticizing the exorbitant costs associated with the popular medications Wegovy and Ozempic.
An investigation into Novo Nordisk’s “outrageously high prices” for the drugs will be conducted by the independent senator from Vermont, who has long criticized pharmaceutical companies for their pricey goods.
“These medications, which have the potential to change the lives of millions of Americans who suffer from type 2 diabetes and obesity, are a credit to the scientists at Novo Nordisk. Sanders, the Senate Committee on Health, Education, Labor and Pensions chair, wrote a letter to the CEO of the drugmaker on Wednesday, saying, “As important as these drugs are, they will not do any good for the millions of patients who cannot afford them.”. In addition, these products have the potential to bankrupt Medicare, Medicaid, and our entire health care system if their prices are not significantly lowered. “.
Sanders has requested that Novo Nordisk respond to his questions about whether it will “substantially reduce” the costs of the drugs, as well as details about its revenue from sales, R&D expenditures, and pricing strategy.
The US Food and Drug Administration has approved Ozempic for the treatment of diabetes, while Wegovy is approved to assist certain individuals in losing weight or reducing their risk of cardiovascular disease. The active component of both injectable drugs is semaglutide, which belongs to a group of pharmaceuticals known as GLP-1 receptor agonists.
Novo Nordisk maintained the price of Wegovy at $1,349 while raising the list price of Ozempic by 3.5 percent this year to $969 for a four-week supply. The pharmaceutical company stated to CNN in February that it modifies the list prices of certain drugs annually in response to shifts in the health care system, inflation, and demand.
The Yale University researchers who recently discovered that these drugs “can be profitably manufactured for less than $5 a month” are mentioned in Sanders’ letter. The senator also cited the fact that Ozempic only costs $155 in Canada and $59 in Germany, while Wegovy costs $140 in Germany and $92 in the UK.”.
According to a statement from the business, Novo Nordisk concurs with Sanders that it is critical for patients to have access to their medications. It declared that it is still dedicated to collaborating with legislators to find solutions that increase accessibility and affordability.
The complexities of U.S. healthcare systems, as well as the science involved in diagnosing illnesses and creating novel treatments, are easily oversimplified. S. and worldwide healthcare networks, according to Novo Nordisk. Unfortunately, this incredibly complex reality isn’t always taken into consideration in public discourse. “.
The majority of Americans’ drug costs are determined by their health insurance plans rather than the list prices set by pharmaceutical companies. If they do not have insurance or have not yet reached their annual deductible, they might have to pay the list price. Furthermore, a lot of medication manufacturers—including Novo Nordisk—offer patient assistance programs and savings cards that lower the out-of-pocket expenses for some individuals.
The federal government is finding Ozempic to be expensive as well, and Wegovy’s recent approval to lower the risk of heart attacks and strokes is anticipated to increase costs.
The law prohibits Medicare from paying for weight-loss medications, but it does pay for Ozempic for diabetic enrollees and Wegovy for individuals with cardiovascular disease who are overweight or obese. As reported by KFF, it invested $40.6 billion in Ozempic in 2022, up from $20.6 billion in the previous year.
Wegovy may cost Medicare close to $3 billion annually, according to a different KFF analysis. Refunds, the details of which are not available to the public, were not included in either analysis.
All beneficiaries’ Part D premiums will likely increase as a result of the surge in spending on these medications.
This story was enhanced by Meg Tirrell of CNN.
