Ozempic and Wegovy, two blockbuster diabetic and weight reduction medications made by Novo Nordisk, are extremely expensive in the United States right now, prompting an inquiry by the Senate.
Senator Bernie Sanders, chair of the Senate Committee on Health, Education, Labor and Pensions (HELP), is beginning an inquiry into the "outrageously high prices" that Novo Nordisk charges for the medications, according to CNN. He has frequently criticized pharmaceutical companies for their expensive medicines.
Sen. Sanders Asks Whether Novo Nordisk Would Lower Drug Prices
In a letter to the drugmaker's CEO Lars Fruergaard Jørgensen on Wednesday, April 24, Sanders voiced his admiration for the Novo Nordisk scientists. He said they should be commended for creating these medications that might revolutionize the lives of millions of Americans battling obesity and type 2 diabetes.
However, he said: "As important as these drugs are, they will not do any good for the millions of patients who cannot afford them." He added that "if the prices for these products are not substantially reduced, they also have the potential to bankrupt Medicare, Medicaid, and our entire health care system."
Sanders is requesting that Novo Nordisk provide details on its research and development spending, drug sales revenue, and pricing methodology, as well as whether or not it would reduce medicine costs.
Novo Nordisk has stated its continued commitment to collaborating with lawmakers to address issues of cost and accessibility, per a CNN report.
Both Medicines Are Priced at Close to $1,000
The Food and Drug Administration (FDA) has given the go-ahead to Ozempic for diabetic treatment and Wegovy for weight loss and cardiovascular disease risk reduction to certain individuals.
This year, Novo Nordisk hiked the price of Ozempic by 3.5% to $969 for a four-week supply while keeping the price of Wegovy at $1,349.
In his letter, Sanders mentions that Yale University researchers have shown that these drugs can be made economically for less than $5 per month, as previously reported by CNBC. The senator further noted that Wegovy only costs $140 in Germany and $92 in the United Kingdom, whereas Ozempic is just $155 in Canada and $59 in Germany.
Join the Conversation