US Senator Bernie Sanders questions CEO of Novo Nordisk about drug costs

During a Senate Health Committee hearing on the high costs of Ozempic and Wegovy, lawmakers questioned Novo Nordisk's CEO for more than two hours.

During the hearing, U.S. Senator Bernie Sanders accused the pharmaceutical company Novo Nordisk, which makes Ozempic and Wegovy, of overcharging Americans for drugs to treat diabetes and obesity.

“If this is not made affordable, Americans across the country will die and suffer needlessly,” Sanders said.

In the US, Ozempic costs $969, 16 times more than In Germany, the drug costs $59. Wegovy costs $1,349. In the UK, the drug costs $92, almost 15 times more than in the US.

Sanders and other members of the Senate specifically targeted Lars Jorgensen, CEO of Novo Nordisk.

“All we're saying, Mr. Jorgensen, is that you should treat the American people the same way you treat people all over the world – stop trying to rip us off,” Sanders said.

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Jorgensen defended the company and its prices, saying that since Ozempic was launched in 2018, costs have dropped by 40%. He added that 99% of private health insurance plans cover Ozempic, including Medicare and Medicaid.

Jorgensen also noted that Wegovy, which was approved in 2021, is covered by half of private health insurance and Medicaid plans, and the company is working to cover seniors as well.

“Today, 80 percent of all Americans with health insurance can afford this medicine for $25 or less for a month's supply. So that's a price we need to talk about at the pharmacy counter,” Jorgensen said.

According to the Peterson-KFF Health Tracker System, some insurance companies have cited inflation and increased demand for weight-loss drugs and other specialty medications as driving prices.

Pharmaceutical companies have opposed lowering their list prices because if prices fall, pharmacy benefit managers (PBMs) will reduce coverage for patients. But Senator Sanders says he has commitments from leading PBMs to expand coverage if Novo Nordisk lowers its list prices.

According to Sanders, about 72 percent of Novo Nordisk's sales are generated in the United States, a statement that Jorgensen did not dispute.

“What I can promise is that Novo Nordisk will remain committed and work with this committee on policy solutions to address the structural problems that harm patients and drive up costs,” Jorgensen said.

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