Novo Nordisk CEO to Testify at Senate Hearing on Ozempic Pricing
The CEO of Novo Nordisk is set to face scrutiny in a Senate hearing over the high costs of the weight-loss drug Ozempic, which has garnered immense popularity. With reports indicating that Ozempic's pricing may soon be a subject of Medicare negotiations, analysts anticipate that market dynamics could lead to reduced costs for consumers. The company has attributed the drug's high prices to tactics employed by pharmaceutical middlemen. Senator Bernie Sanders and other lawmakers are advocating for more affordable pricing and the introduction of generics to make weight-loss medications accessible to a larger audience. As sales for Ozempic soar, reaching $50 billion, the justification for its price becomes increasingly strained. Lawmakers are poised for heated discussions during the hearing, with expectations of significant changes in the pricing landscape for Ozempic and its counterpart Wegovy.
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