Vermont Independent Senator Bernie Sanders It has long been criticized The outcry over prescription drug prices in the U.S. shows Americans pay some of the highest drug prices in the world. But Sen. Sanders said on Friday that the CEO of Novo Nordisk Ozempicagreed to testify about the prices it is charging consumers.
Senator Sanders serves as Chairman of the Senate Health, Education, Labor and Pensions Committee (HELP), which is investigating Big Pharma and the prices Americans are paying for modern weight loss drugs such as Ozempic and Wegobee.
Sanders had previously planned to subpoena Denmark-based Novo Nordisk CEO Lars Jorgensen to compel him to testify, but he announced late on Friday that Jorgensen had agreed to voluntarily appear before the committee in September.
“I enjoyed the opportunity to speak with Ms. Jorgensen this afternoon and thank her for volunteering to testify before the HELP Committee’s solo panel about the high costs of Ozempic and Wegovi in the United States,” Senator Sanders said. press release“The scheduled subpoena vote is no longer necessary and is therefore canceled.”
“Americans are tired of paying the highest prices in the world for prescription drugs,” Sanders said. “Novo Nordisk currently charges Americans with type 2 diabetes $969 a month for Ozempic, when the same drug can be purchased for just $155 in Canada and $59 in Germany. Novo Nordisk also charges obese Americans $1,349 a month for Wegobee, when the same drug can be purchased for just $140 in Germany and $92 in the UK.”
Part of the problem is that it is illegal for Medicare to negotiate with drug companies over most drugs. That only changed recently: The Inflation Control Act passed in 2022 allows Medicare to negotiate only over drugs. 10 types of medicineBut big pharmaceutical companies are fighting this modest change in court. KFF News reports that Ozempic and Wegovy could be up for negotiation next year, but Medicare has not released a list of which new drugs may be up for negotiation. Until September.
But incremental improvements are better than no change at all, as is having pharmaceutical executives appear on TV to answer questions about price gouging. We have Senator Sanders to thank for that.
“The committee looks forward to Ms. Jorgensen explaining why Americans are paying 10 to 15 times more than people in other countries for these drugs,” Sanders said.
