Senate launches investigation into high prices of Ozempic and Wegovy in the U.S.

Key Facts

• “The scientists at Novo Nordisk deserve great credit for developing these drugs that have the potential to be a game changer for millions of Americans struggling with type 2 diabetes and obesity,” Sanders said in a Wednesday letter to CEO Lars Fruergaard Jørgensen.
• The powerful progressive senator also made a simple request of the drug company CEO: “Will Novo Nordisk substantially reduce both the list price and the net price of both Ozempic and Wegovy?” Sanders asked Jørgensen in his letter how the price of the drugs is determined and to make clear the amount the pharmaceutical company spends on research and development.
• Evelyn Hockstein | Reuters Novo Nordisk declined to provide production costs to CNBC following the release of the study and noted that it spent $5 billion on research and development in 2023 and will spend more than $6 billion this year to boost manufacturing for GLP-1s.
• In a statement to CNBC Wednesday in response to the letter, Novo Nordisk said the company agrees with Sanders that access to the drugs is important but highlighted the complexities of the healthcare industry.

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