Novo Nordisk CEO Lars Fruergaard Jørgensen spoke in an interview in New York on August 17. October 2022.
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Novo Nordiskof prime executives will face Senate torture On Tuesday, the corporate’s weight reduction drug Wegovy’s excessive worth and… diabetes treatment ozone therapyas two injections are required Soaring in the U.S.
Novo Nordisk CEO Lars Fruergaard Jørgensen to testify earlier than Senate Well being, Schooling, Labor and Pensions Committee hearing 10 a.m. ET Tuesday in Washington, D.C. Almost 5 months in the past, Sen. Bernie Sanders, the Vermont impartial who chairs the Senate panel, launched an investigation into the Danish drugmaker’s pricing practices.
Sanders claimed that Novo Nordisk prices Individuals a lot larger costs for its blockbuster medication than it prices sufferers in different international locations. Earlier than insurance coverage, Ozempic value virtually $969 per month The price is about the identical as Wegovy $1,350 per month in the us
On the identical time, in accordance with data launched by the FDA, in some European international locations, the price of a one-month provide of those two remedies may be as little as lower than $100. committee. Ozempic prices simply $59 in Germany, whereas Wegovy prices $92 within the UK
Sanders additionally stated final week that CEOs of main generic drug corporations informed him they might promote a model of Ozempic for $10. Less than $100 per month to make a revenue. There are at the moment no generic options to Ozempic obtainable in the US
Slimming syringes underneath the manufacturers “Wegovy”, “Ozempic” and “Mounjaro” are offered at In der Achat Apotheke in Mitte, Germany.
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Sanders and different lawmakers, health expert Insurers warn of rising demand for Novo Nordisk’s drug and comparable weight reduction and diabetes remedies from rivals Eli Lilly and Company Can Could bankrupt the U.S. health care system Except costs drop.
Each drugmakers make GLP-1, which mimics a hormone produced within the intestine to suppress individuals’s urge for food and regulate blood sugar. Eli Lilly’s weight-loss injectable Zepbound and diabetes drug Mounjaro additionally value about $1,000 a month (earlier than insurance coverage and different rebates).
The Senate Well being Committee stated in a information launch that if half of Individuals took fat burners from Novo Nordisk and Eli Lilly and Firm, it could value $411 billion a 12 months. That is $5 billion greater than Individuals will spend on all pharmaceuticals in 2022.
medical insurance spending Ozempic invests $4.6 billion In accordance with the well being coverage analysis group KFF, this may occur in 2022 alone.
Different insurance coverage corporations and employers have carried out strict necessities to regulate the price of weight reduction medication or waived protection of those remedies totally. Many well being plans cowl GLP-1 for treating diabetes, however not for weight reduction. Medicare doesn’t pay for weight reduction therapy until the therapy is authorised and prescribed for an additional well being situation.
The listening to comes because the Biden administration and lawmakers from each events attempt to rein in U.S. well being care prices, partly by placing strain on individuals Pharmaceutical business and drug provide chain intermediaries. Individuals pay on common two to 3 occasions extra for pharmaceuticals than sufferers in different developed international locations, in accordance with one survey. Overview From the White Home.
It’s value noting that Ozempic could also be topic to next round Worth Negotiations between Producers and Medicare—A Key Presidential Rule Joe BidenInflation discount invoice geared toward reducing prices for seniors. Wall Avenue analysts say Ozempic could also be eligible for negotiations by 2025 when the subsequent spherical of medication is chosen, with worth changes set to take impact in 2027.
