This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Bernie Sanders grills Novo Nordisk CEO on value of Ozempic, different weight-loss medication
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Lifestyle > Bernie Sanders grills Novo Nordisk CEO on value of Ozempic, different weight-loss medication
Lifestyle

Bernie Sanders grills Novo Nordisk CEO on value of Ozempic, different weight-loss medication

Editorial Board Published September 24, 2024
Share
Bernie Sanders grills Novo Nordisk CEO on value of Ozempic, different weight-loss medication
SHARE

Sen. Bernie Sanders grilled Novo Nordisk CEO Lars Jorgensen throughout a Tuesday Senate listening to concerning the price of its weight-loss medication within the U.S. 

In opening remarks earlier than the Senate Well being, Schooling, Labor and Pensions Committee, Sanders argued that Novo’s Ozempic prices over 15 instances extra within the U.S. than in Germany and that Wegovy is almost 15 instances costlier within the U.S. in comparison with the U.Okay. Each medication, which have the identical energetic ingredient however totally different accepted makes use of, have surged in recognition within the U.S. market. 

Jorgensen stated that the danger of reducing listing costs is that the pharmacy profit managers (PBMs) would drop protection of them. He used Levemir, a long-acting insulin that was discontinued in January, for example. 

SEEING MORE WEIGHT-LOSS DRUG ADS? HERE’S WHY

Novo Nordisk CEO Lars Jorgensen speaks throughout a TV interview in New York, on Aug. 10, 2022. (Christopher Goodney/Bloomberg through Getty Photographs / Getty Photographs)

Jorgensen stated after the corporate dropped the listing value by 65%, PBMs dropped protection of the product. The drug went from being on 90% of insurance coverage to about 35%. 

Sanders argued that he obtained written commitments from the main 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.” 

Given this, Sanders requested Jorgensen if the corporate would decide to considerably lowering the listing value of those medication within the U.S. 

FDA APPROVES ELI LILLY’S TIRZEPATIDE FOR WEIGHT LOSS

The chief government, who took over in 2017, stated he’d be comfortable to “do anything that helps patients,” however would not know beneath what situations these guarantees have been made. 

Virtually all U.S. business insurance coverage cowl Ozempic and about half cowl Wegovy, in keeping with Jorgensen. He stated that 80% of all Individuals with insurance coverage have entry to those medicines at $25. 

Jorgensen stated it isn’t the corporate’s intention for anybody to pay the listing value and that it “is a starting point for negotiations against the PBMs and insurance companies.”

Anti-diabetic medication "Ozempic" packaging

Novo Nordisk CEO Lars Jorgensen testified earlier than the Senate Well being, Schooling, Labor and Pensions Committee on Tuesday. (JOEL SAGET/AFP through Getty Photographs / Getty Photographs)

Sanders stated that “if you are uninsured, you pay the full list price. If you have a large deductible, you pay the full list price. If you have co-insurance, the percentage of the price you pay at the pharmacy counter is based on the list price.”

The senator continued, saying that in one of the best case, the corporate is charging Individuals practically $600 for Ozempic with all of the rebates and all of the reductions, which is “over nine times as much as people in Germany pay for the product.”  

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Ozempic was accepted by federal well being officers in 2017 and marketed for medical use within the remedy of Kind 2 diabetes “with weight loss as a secondary effect of the drug’s effects and mechanism of action.” 

Wegovy was accepted in 2021 for persistent weight administration in adults who’re overweight or chubby and have at the least one weight-related situation. 

TAGGED:BernieCEOdrugsgrillsNordiskNovoOzempicpriceSandersWeightloss
Share This Article
Twitter Email Copy Link Print
Previous Article Drug-resistant germs will kill hundreds of thousands extra folks in coming a long time, researchers warn Drug-resistant germs will kill hundreds of thousands extra folks in coming a long time, researchers warn
Next Article 10 Finest Skincare Merchandise for Males To Get You Began in 2024 | Fashion 10 Finest Skincare Merchandise for Males To Get You Began in 2024 | Fashion

Editor's Pick

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Studying Time: 3 minutes The View co-host Alyssa Farah Griffin is pregnant! On ‘The View,’ Alyssa Farah Griffin breaks the…

By Editorial Board 3 Min Read
Mandy Moore ‘Unrecognizable’ to Followers After Debuting New Face
Mandy Moore ‘Unrecognizable’ to Followers After Debuting New Face

Studying Time: 4 minutes Mandy Moore has followers scratching their heads. This…

6 Min Read
Russia for Business: Experts Who Help Drive Decisions
Russia for Business: Experts Who Help Drive Decisions

Amid sanctions and the restructuring of global supply chains, understanding the logic…

4 Min Read

Oponion

Manhunt for “desperate” assassin who escaped from Mississippi jail, authorities say

Manhunt for “desperate” assassin who escaped from Mississippi jail, authorities say

Authorities in Mississippi are looking for a convicted killer who…

December 25, 2024

Listed below are 6 of the wackiest conspiracies to elucidate Trump’s debate fail

Vice President Kamala Harris received Tuesday’s…

September 15, 2024

2021 Jeep Wrangler Unlimited Rubicon 4xe: A Hybrid That Comes Up Short

YEE-HAH. Eighty years after the original…

September 24, 2021

San Jose: Man dies per week after being hit by a automotive in December

A person died greater than per…

January 3, 2025

“60 Minutes” govt producer Invoice Owens to depart community

Owens’ departure comes as President Trump…

April 23, 2025

You Might Also Like

How householders can earn rewards factors for paying their mortgage
Lifestyle

How householders can earn rewards factors for paying their mortgage

BILT founder and CEO Ankur Jain discusses the corporate's valuation on 'The Claman Countdown.' Owners will quickly have the prospect…

6 Min Read
Say Goodbye to the Noon Droop—These 14 Wholesome Lunch Recipes Will Energize Your Workday
Lifestyle

Say Goodbye to the Noon Droop—These 14 Wholesome Lunch Recipes Will Energize Your Workday

Admittedly, there have been many occasions I’ve discovered myself hunched over my desk, consuming spoonfuls of rooster and rice as…

8 Min Read
LendingTree founder and CEO dies unexpectedly in weekend ATV accident at age 55
Lifestyle

LendingTree founder and CEO dies unexpectedly in weekend ATV accident at age 55

'The Huge Cash Present' panel discusses the challenges of homeownership amid an affordability disaster. LendingTree, Inc. introduced Monday its founder…

4 Min Read
Amazon hiring 250,000 staff for upcoming vacation season
Lifestyle

Amazon hiring 250,000 staff for upcoming vacation season

Storch Advisors CEO Gerald Storch discusses Adobe’s prediction that on-line spending this upcoming vacation season will develop at a slower…

4 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?