Novo Nordisk, a Danish pharmaceutical giant, is facing criticism from US politicians over the high prices of its weight-loss and diabetes drugs, Wegovy and Ozempic. CEO Lars Fruergaard Jørgensen defended the elevated prices, citing “structural issues” within the US healthcare system. However, he expressed a willingness to negotiate prices if lawmakers ensured that the drugs remained covered by insurers.
The US Senate, led by Senator Bernie Sanders, urged Novo Nordisk to lower the list prices of its drugs to make them more affordable for American patients. The Senate Committee highlighted the vast price disparities between the US and other countries, with Ozempic costing significantly less in places like Germany and the UK. Jørgensen argued that middlemen and insurers play a significant role in pricing controls in the US.
During a congressional hearing, Jørgensen emphasized the company’s investment in research, development, and facilities for obesity-related drugs. He also mentioned the potential for price negotiations in 2027 for Novo Nordisk’s drugs. The company’s sales in the US have been booming, driven by demand for diabetes and obesity care products.
In response to pressure from lawmakers, major Pharmacy Benefit Managers have committed to expanding coverage for Novo Nordisk’s drugs if prices are lowered. Novo Nordisk’s willingness to collaborate with policymakers and improve access to medications indicates a potential shift in pricing strategy to address concerns over affordability in the US market.
Source
Photo credit www.euronews.com