President Joe Biden and Senator Bernie Sanders have urged Novo Nordisk and Eli Lilly to lower the prices of their popular weight loss and diabetes drugs.
In an opinion piece published in USA Today, they highlighted the soaring demand for these drugs, which have significantly boosted the companies' stock prices.
Joe Biden, Bernie Sanders Call for Reduced Prices of Weight Loss Drugs
The Centers for Disease Control and Prevention reported that over 40% of Americans are obese. Joe Biden and Bernie Sanders emphasized that if half of these individuals took Novo and Lilly's weight-loss drugs, it could cost $411 billion annually.
Biden and Sanders warned that these drugs could bankrupt the American healthcare system without a substantial price reduction. They expressed commitment to using their influence to enforce price cuts if pharmaceutical companies do not act voluntarily.
Novo Nordisk's diabetes drug Ozempic has a monthly list price of $935.77 in the US, while its obesity treatment, Wegovy, costs $1,349.02 monthly. Eli Lilly's Mounjaro, a popular off-label for weight loss, is priced at approximately $1,100 per month.
Responses of Novo Nordisk and Eli Lilly
Novo Nordisk told Reuters that the costs of Ozempic and Wegovy have decreased by about 40% since their launch. The company also noted that more than 80% of insured Americans pay $25 or less monthly for these medications, though it acknowledged that patients often do not benefit from the reduced prices.
Eli Lilly noted that its savings card program allows eligible patients to access Mounjaro and Zepbound for as low as $25 per month, arguing that treating these conditions will now save money in the long run.
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