Bernie Sanders, impartial senator from Vermont, I have been swearing for a very long time towards US prescription drug costs as a result of Individuals pay the best costs on this planet for medicine. However on Friday, Senator Sanders emerged victorious because the CEO of Novo Nordisk, the producer Ozempicagreed to testify in regards to the costs it expenses shoppers.
Senator Sanders is chairman of the Senate Well being, Training, Labor and Pensions (HELP) Committee, the place he’s investigating Massive Pharma and the costs Individuals are pressured to pay for medicine used lately for weight reduction, equivalent to Ozempic and Vegova.
Sanders beforehand deliberate to subpoena Lars Jorgensen, CEO of Danish firm Novo Nordisk, to power him to testify. However late Friday, the senator introduced that Jorgensen had agreed to voluntarily seem earlier than his committee in September.
“I loved the chance to talk with Mr. Jorgensen this afternoon and thank him for agreeing to voluntarily testify earlier than the HELP Committee on the excessive value of Ozempic and Wegovy in america,” Senator Sanders mentioned in a press release. Press launch. “The scheduled subpoena vote is not required and shall be cancelled.”
“The American persons are bored with paying the best costs on this planet for pharmaceuticals,” Sanders mentioned. “Novo Nordisk presently expenses Individuals with sort 2 diabetes $969 per 30 days for Ozempic, whereas the identical drug may be bought for simply $155 in Canada and simply $59 in Germany. Novo Nordisk additionally expenses overweight Individuals $1,349 a month for Wegovy, whereas the identical product may be bought for simply $140 in Germany and $92 within the UK.”
A part of the issue is that it’s unlawful for Medicare to barter with drug firms for many medicine, a state of affairs that has solely not too long ago modified. The Inflation Reduction Act handed in 2022 will now enable Medicare to barter solely 10 medicine, however Massive Pharma is difficult this modest change in court docket. KFF Information studies that Ozempic and Wegovy may doubtlessly be topic to negotiations subsequent 12 months, however Medicare has not launched a listing of latest medicine that could possibly be topic to negotiations. till September.
However gradual modifications for the higher are preferable to no modifications. The identical goes for a way pharmaceutical executives reply to questions on value gouging. On this specific case, now we have Senator Sanders to thank.
“The committee appears ahead to Mr. Jorgensen explaining why Individuals pay ten to fifteen occasions extra for these medicine than folks in different international locations,” Sanders mentioned.