TL/DR –
Senator Bernie Sanders led a Senate Committee hearing to investigate the high prices of Novo Nordisk’s drugs, Ozempic and Wegovy, in the US compared to other countries. The prices of these drugs, targeted at diabetes and obesity, are up to 15 times higher in the US than in countries like France, Canada, Denmark, and Germany. Sanders argues that making these drugs affordable and accessible could save more than 40,000 lives per year in the US, as per estimates by epidemiologists.
Sanders Leads Senate Investigation into Skyrocketing Prices of Diabetes, Obesity Drugs
During a recent Senate Committee on Health, Education, Labor, and Pensions (HELP) hearing, Senator Bernie Sanders (I-Vt.), Chairman of the committee, enquired why Novo Nordisk imposes the highest global prices on their vital drugs, Ozempic and Wegovy, in the U.S. Epidemiologists anticipate that affordable and extensive dissemination of Wegovy and similar weight-loss drugs in the U.S. could save over 40,000 lives annually. Watch the live proceedings HERE.
Staggering Price Disparities
According to Sanders, Novo Nordisk’s diabetes drug Ozempic costs $155 in Canada, $122 in Denmark, $71 in France, and $59 in Germany, while in the U.S, it sells for $969, more than 15 times the cost in Germany. Similarly, Novo’s weight loss drug Wegovy is priced at $265 in Canada, $186 in Denmark, $137 in Germany, and $92 in the United Kingdom, but the U.S. list price is $1,349.
The Moral Issue
The senator stressed that beyond the economic impact, the high cost of these drugs is a significant moral issue. Novo Nordisk’s groundbreaking drugs, if affordable, could save American lives in tens of thousands and substantially improve millions more. However, if unaffordable, Americans nationwide will endure unnecessary death and suffering.
Flawed Healthcare System
Sanders explained that the exorbitant cost of Ozempic, Wegovy, and other prescription drugs is a direct consequence of a malfunctioning and inhumane healthcare system in the U.S. While the current system yields massive profits for prominent drug corporations like Novo Nordisk, it fails to meet the needs of everyday Americans.
Fighting the High Cost of Prescription Drugs
In light of these findings, Sanders has communicated with several major generic pharmaceutical companies over the past few months. These companies, which supply hundreds of millions of prescriptions to many millions of Americans, could potentially sell a generic version of Ozempic to Americans for less than $100 per month. This is less than ten percent of the current American price of $969 per month.
Sanders stressed, “All we are saying, Mr. Jørgensen, is treat the American people the same way that you treat people in countries all over the world. Stop ripping us off.”
The Urgency of Affordable Prescription Drugs
The senator emphasizes that prescription drugs in the U.S. must be affordable and that the country should not be forced to pay significantly higher prices than those in other countries for the identical product. He stated that this is especially crucial given the dual national crises of diabetes and obesity, which, if not confronted with lower-cost drugs, could cost tens of thousands of lives and an unfathomable amount of money.
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