In a recent tweet, Bernie Sanders (R-Vermont) criticized the pricing of the popular diabetes drug Ozempic and its manufacturer. Novo Nordisk A/S Norbo.
what happenedSanders voiced concerns about Ozempic’s pricing on Twitter on Wednesday, suggesting that the drug’s manufacturer, Novo Nordisk, could be charging U.S. consumers 10 to 15 times the price compared to other countries, raking in billions of dollars a year.
“Ozempic will likely become one of the best-selling drugs of all time, and its manufacturer, Novo Nordisk, will earn billions of dollars each year from American consumers. Americans should not be charged 10 to 15 times more than people in other countries for this drug,” Sanders said.
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Why is this important?This isn’t the first time Sanders has spoken out against Ozempic’s high price. In March, he criticized the drug’s “exorbitant” price and considered holding a hearing on the issue. Sanders, who chairs the Senate Health, Education, Labor and Pensions Committee, expressed concerns about the high price of Ozempic, which is sometimes used to suppress appetite and help with weight loss.
CEO of Novo Nordisk, Lars Fruagaard JorgensenNovo agreed to testify before the Senate after Sanders threatened to subpoena the company over pricing of Ozempic and the obesity drug Wegovi. The agreement came after a dispute over hearing dates, during which Sanders’ team argued Novo was uncooperative, but the company said it was willing to testify.
Price Trends: Novo Nordisk shares fell 2.2% in regular trading on Wednesday to close at $143.67, according to data from Benzinga Pro.
Photo by Joseph Sohm from Shutterstock
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This story was written and edited with Benzinga Neuro. Shivdeep Dhaliwal
