Novo Nordisk CEO Faces US Senate Hearing Over Ozempic Pricing Controversy
In a tense Senate hearing, Novo Nordisk's CEO defended the high prices of popular weight-loss drugs Ozempic and Wegovy, stating that the company is not solely to blame for costs, pointing fingers at pharmacy benefit managers. U.S. Senator Bernie Sanders criticized these high prices, expressing concern about their impact on public health and advocating for reduced costs. He noted that if prices drop, pharmacy middlemen would consider expanding coverage for these medications. Amidst the scrutiny, it was revealed that Ozempic could potentially be included in upcoming Medicare price negotiations, which may lead to more affordable options for millions of Americans. Analysts speculate that market forces may soon drive down prices, and there are discussions around allowing generic versions of these drugs to enter the market, which could further reduce costs.
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